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Moons help prove what is a fatal flaw in cryptocurrencies eventual adoption

All Cryptocurrencies

by COINS NEWS 117 Views

People my disagree with me, but I believe that moons in this sub are a perfect example of why crypto can never be used as intended, and that FIAT will always reign supreme.

HODL mentality.

Moons were created to purchase items in the sub, special memberships etc, but no one does as it would work out to be the wrong idea financially.

The whole point of a currency is for it to be used to purchase items, whether immediately or through long time saving), to buy necessities. But as Moons have proven, all we want to do is hold onto them for as long as possible with the hope that one day they will generate a lot more FIAT than they do today (or potentially some other crypto, but again with the end goal of making more FIAT).

No one today would buy a loaf of bread with their moons, not many would do with it with Bitcoin, the most utilised payment crypto (no one wants to be the person that bought the pizza).

This ultimately means that we are all betting against the mass adoption that crypto needs to become mainstream successful and basically engineering, maybe not the downfall, but a limited success of the use of crypto overall. Purchasing items using Bitcoin ultimately lowers its price as it will inevitably end up in the hands of someone whose only intention is to change it back to FIAT.

It becomes a choice of whether or not you think that crypto will take off, but hoping that it will be the token you hold that everyone uses, not you using it yourself.

So inevitably, are we all crazy? I know I won't be changing my habits any time soon.

DISCLAIMER: I am aware there are exceptions to this and that some people do use crypto for payments, but nowhere near mass adoption and definitely not anyone who trades crypto or holds for profit, which, lets be fair, is the majority of us.

submitted by /u/gingercrash
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