Ayeee crytpo thread has been poppin' I see. Glad there was some healthy arguents in here with some good energy on both sides
These are the types of discussions that will mold the future, these are the convo's that we will be referenced 10, 20, 30 years from now. And both sides will take part in molding what the end product will become. You have the visionaries and the "whats now" sides going at it. And then you have the form vs function argument. I really like the fact that people are even interested in engaging in these convo's because its so easy for the average person to overlook it because they don't understand, but arguing or discussing it, even if you're on the fence or against it, shows that its real.
I personally think that crypto is at an interesting crossroad, and its been there for a while now. We have teams (or companies) with ideas/products that they create on the blockchain, and then we have the currencies (byproducts of some of said teams).
Best case in point, everyone's 2nd
favorite household name crypto - Ripple/XRP. Ripple is a company, XRP is a cryptocurrency.
Ripple is the technology, XRP is the currency. Ripple is the vehicle that moves XRP. Ripple has a CEO, XRP is a token that even if Ripple were to shut down, would sustain itself thanks to the blockchain.
Ripple should be on the NYSE/NASDAQ, because its a company, it has a product, it has employee's, it has a physical location. You should be able to invest in it, but at the moment (at least) its a privately held company.
XRP, is a cryptocurrency. Its a digital asset for payment. It can be used, like any other cryptocurrency, to exchange for a service or good. You wouldn't pay your local Pizza man in AAPL stock. Thats ridiculous, its a stock. Ripple, should be a stock.
XRP, should be a currency. Despite however you feel about the token, its platform, the parent company that created it, or whatever, you can send it to your friends, family, or pay for services and goods, just like you could in dollars and coins.
So, why is crypto at a crossroad according to myself? Well, because it needs to be sorted out. The Crypto market needs to decide whether it wants to be more like the Stock Market, or whether it wants to be like the FOREX market. Because at the moment, its a cross between the two.
We measure satoshi's like pips, but we speculate these teams like they're publicly traded companies. ETH is a platform that you just so happen to be able to create currency tokens on. But I personally wouldn't pay anyone in ETH. I trade ETH, but if I really wanted to pay someone in crpyto, I would use one thats more currency-like, or at least centered around being an actual currency and not a development platform. To me, thats just like paying someone in my AAPL stock. Thats stupid. Why should I pay you in ETH? I should pay you with a currency. I should pay you in LTC.
I wouldn't pay anyone in EOS, Cardano, NEO, or TRON. Because those weren't marketed as fiat-esque tokens. Bitcoin, Litecoin, XRP, BCH, Monero, DASH, etc etc were designed for that.
I personally think that the crypto market should be split into 2 categories, currencies and platforms (or whatever better suitable names that would fit). And we should have trading markets accordingly. Still decentralized, still playing by the new rules of crypto/blockchain culture, and still 24hr a day/7 days a week/ 365 days a year. Cryto never sleeps. Not on holidays, not on weekends, not after dark. It should stay that way.
But at the moment, we're playing stocks and forex all in one market. And thats where I think the market needs to mature in the future.
In my head we should view BTC as a currency trading pair like in the forex market BTC/USD just like EUR/USD. The dollar doesn't have a market cap- Neither should an actual crypto currency. We should be able to day trade sats like pips. BTC (and other fiat trade-able crpytocurrencies) should be used globally as a currency. And politics, world news/issues, etc should dictate its price, because its a currency. The same way those things affect the dollar, euro, etc.
But we should view ETH in a similar way we see a stock. ETH should have a market cap, because the moves the company makes, the partnerships, the upgrades/announcements should effect the price. Not world issues. Whats going on in a third world country shouldn't effect my AMZN holdings, unless Amazon the company had a part in the situation. The same should be said for Ethereum. There should be a number of ETH tokens with a cap that dictates the market cap. I should be trading ETH differently than how I trade BTC. Because I don't trade FOREX the same way I trade stocks.
But thats just how I see it.
