Crypto, is it just for trading with?
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The crypto market has had tremendous growth since it was first started. I am under the impression, the idea behind Crypto was to decentralise the monetary system. This is something I agree with strongly with and do support the idea behind it. Is it really doing what was intended?
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https://www.pexels.com/photo/bitcoin-blockchain-cryptocurrency-ethereum-680113/![IC offering.jpeg]
The influx of new ICO offerings.
New Coin Offerings are been formulated and released regularly to the market, This increases the volatility of all the Crypto in fluctuations of its price, how many in circulation and at what volume. When will enough variations of Crypto on the market be enough? While I do see there are differences between some coins. The price of transfer, the speed at which the transfer happens and then possibly security issues. Do we need the addition of more Crypto-currency that you cannot purchase goods with? Are they moving away from a currency and more toward a commodity or asset?
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The ability to use the currency in everyday life.
Why should your local shop accept crypto and if so which and why that one. With so many currencies out there now, every shop would need to have an exchange on hand (or the user). Some of this has been done through the use of multi-wallets which offer the ability to spend using a range of currencies. This is great for the user, the shop owner is not so fortunate. They may not follow the Crypto market and have the same understanding as you. The shop owner will also incur fees for transferring from Crypto to Fiat. In most circumstances, this will need to be done as the shop owner will need to replace the goods sold. If the market for Crypto is on a downward trend, this can put the shop owner at a loss.
For a currency to have value it must have stability and a place to exchange for goods. To reach this point is becoming harder with time. If a decentralised currency is wanted, it is something which must be worked toward. So far all the Crypto has done is to divide. Everyone wants some and everyone wants to get rich, Will it be at the expense of the Crypto and a return to FIAT?
Personally, I think Crypto is here to stay, But! will it remain as an asset, or make it into the mainstream currency's?