I would like to take a moment of your time and discuss the current state cryptocurrency is in , and what we can do to change that.
The way I see it, and I’m surely not alone in this, is that cryptocurrency is being looked at as as a commodity instead of an actual currency.
Granted, cryptocurrency is pretty new, and unregulated, and therefore you can’t “exactly’” label it as a currency. Then again, the word currency is in the name, so….
Either way, that’s not the real issue I wanted to talk to you about, as the aforementioned will (hopefully) change over time anyway.
What I do worry about though, is that cryptocurrency is valued for the hype it can create, instead of for how good and/or useful it is.
I’m not looking to point fingers here, but cryptocurrency is NOT a get rich quick scheme. Nothing in life is, if you want it done the right way. Crypto is no exception in this regard.
Cryptocurrency should be looked as as long-term investment, not “oh, today I buy, tomorrow, I sell ,and i’m a millionaire”. That’s not going to happen.
A cryptocurrency of any kind, whether it’s Bitcoin, Litecoin, or any other one, should have a value based on what it can do for the world of cryptocurrency in general.
If you have services supporting a coin, that’s a plus, thus it should be valued higher. If reputable exchanges list said coin, it’s a plus, thus it should be valued higher as well.
If you can play games with it , that doesn’t really add to the monetary value, so that should NOT give it a higher price in my book. But that point is debatable.
However, if a coin gets released, with nothing but hype behind it, and no services whatsoever planned, that coin’s value should be zero.
Unfortunately for us, lately we see a lot of coins being released without any planning for the future, just schemes by some people to make a few bucks off other people’s backs.
Something has to change, and dramatically, or cryptocurrency won’t survive in the real world for long, except to the core, the dedicated people.