Why Bitcoin or any other Altcoin won't be used as currency. And stablecoins will

in #bitcoin6 years ago (edited)

So today many people still say that Bitcoin will become the new payment method/currency and if not Bitcoin then maybe Ethereum or Neo. But my answer is no. Bitcoin=digital gold, Ethereum=programming and Neo=Smart economy.  

What we need is Stable coins.  

The economy is alive because of credit. The economy works because we are able to lend money with interest. Money can be printed so the value of a USD of EUR remains the same. How can a Bitcoin, Ethereum or Neo become a currency if it has a limited supply? It simply can't and won't. They can be usefull for the product or service they offer but they won't be used as currency. 

How is Bitcoin exactly going to become a currency when it has this many problems already with saleability. And how is Bitcoin going to become a currency when there will be a moment that it has reached its max supply. Not to forget that once it's all distributed in a x amount of years and people decide to hold on to it... then what is it useful for as currency? 

What we truly need is stable coins. Stable coins are a much better global solution than Bitcoin, simply because it offers much more value to the definition of "money: There is less risk of depreciation, and will be a better medium of exchange due to lower volatility. The definition of money is based on three simple criteria;

  1. Store of Value: a way to hold wealth without it depreciating
  2. Unit of Account: an accounting system
  3. Medium of Exchange: can facilitate a sale with an agreed upon expected value by all parties 

And if you would like to know why this should really be used, well... it offers many great things such as;

  1. Price Stability
  2. Scalability
  3. Decentralization
  4. Privacy 

Stable coins are the real crypto currency’s for the future.    

Best regards,

Sem

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How about BTS bitActive-s ?

I am not familiar with bitActive-s? :)

Suyggest you to get familliar. BTS is great!

Do you have any particular Altcoins in mind?

Ethereum, Neo, Waves, Cardano, Steem i look at the most :)

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