Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: admin on August 14, 2018, 01:47:49 PM
-
There is no doubt that speculation is why cryptos go up and down,
Like with fiat money, the value of a coin is to be able to use it somewhere, otherwise there is no reason for having it.
some coins like "Ethereum" have a strong usability case, but for the majority of altcoins there is not.
I have been observing some tokens that even after launching their products failed to increase their value, simply because the demand on their products was not strong enough for the token price to take off.
for coins/tokens to be really valuable, you need to have a usability that can have mass adoption, anything else is just speculation.
-
You are absolutely right admin. The demand of product or services can increase the price and stability of the token/coin. But if the demand decrease as usual price also decreases. So, market adoption is very important for a project.
-
If usability was the highest standard, would EOS and Steam really be 1 and 2? I think this is somewhat true but needs atleast some closer examination... you could certainly say something like Steam has more real-world value over Bitcoin cash or Ethereum Classic though, for sure.
-
Another important aspect: Several projects are tokenized without a real need. Blockchain is a great innovation, but it does not mean that it should be applied to everything.
-
Indeed. For the coin like Ethereum, it should be always useful since it is used by many parties in crypto system. Its usability makes people believe in holding the coin. On the other hand, new coins with weak product concepts make people not so sure about the continuity of the product at future. It sometimes becomes one of the factor to make an ICO fail.
-
I would say usability and adoption are the two main factors of an successful cryptocurrency project.
We have seen a lot of times lately:
- usability without adoption: Byteball, NXT, Stratis, etc. (super features, cheap, fast enough and nobody use this platforms (no use cases or very few).
- adoption without usability: Bitcoin, Ethereum both couldn't handle so many users, transactions prices spiked, network was slow and not usable.
-
Yes you are correct, I have seen many projects like that even with a working products they still fail because the product does not sole any need to the people
-
As long as there are investors and people who believe in cryptocurrency and also miners, the market will exist and develop.
-
You are totally correctly admin.. I see no reason why a company would create tokens without a real use case.. It's more like wasting of resources..
-
You are totally correctly admin.. I see no reason why a company would create tokens without a real use case.. It's more like wasting of resources..
Well,becouse they want your money?Could be.
I´m not investing in projects if i can´t use that coin.Usability is the factor nr.1 for me.Even Dodgecoin got it,but it´s not to compare to ETH,NEO or EOS.There must be also some deep ground behind it.But still it´s all speculation in cryptoworld right now.
-
For cryptocurrency to be adopted big time there should be a measure to sanction companies that are just in the space for some quick cash and not the actual usability of there project..
-
One of the most important factors or attribute of a coin is its value, which is totally different from the price. If a coin has a good value, by virtue of what it is used for, then it tend to last long and grow organically.
-
Use GoldBitsCoin (https://goldbitscoin.com/) a "real" store of value agreed upon
everyone and the control of this currency is in your hands!
-
This is really true. Most projects issue tokens which lacks utility. With time they die out gradually. Atomic Wallet for example has an amazing product which is a multi-currency wallet. It currently have over 500k downloads across all platforms and a reasonable number of active users each month. They also have a token - AWC which is used for a membership program in the wallet and now can be staked in the wallet. All these factors have reflected in the value of AWC during this bull season. It surged from 0.2$ to over $1.5 in a month.