Table of Contents show 1 Research Objectives 2 Methodology 3 The Data We Used 4 Findings: Research Objectives The aim of this research is to shed light on the blockchain industry’s growth and market reach among a vast array of companies. Our specific objectives are: To quantify the number of blockchain and web3 companies that […]
I honestly think that if the price of Crypto weren’t so darn high, a better ecosystem would have developed around it and it would at least still be useful for payments. But since it is so high, anyone who has any crypto would be nuts to spend it.
Some people hold up the pizzas bought with 10000 BTC as some sort of cautionary tale, because if the guy had held on to the BTC he would have hundreds of millions of dollars right now. But not only was 10000 BTC only worth the price of two pizzas then, nobody back then really knew where the project was going. Certainly no one thought one BTC would ever be worth even $1000 unless BTC transaction adoption really took off. But here we are.
(Plus, I doubt the guy spent his only Bitcoin on pizza for someone else. Someone who had 10K BTC to spare in 2010 likely had a lot more, too. He is probably not eating instant ramen unless he wants to.)
To be fair, there are some services you can get with crypto (I have used those myself), and people (especially Monero community) are promoting a sorta-circular economy with it.
Monero has the additional draw for people who want their transactions really private, not just pseudonymously private. And the fact that some of those private uses may be unseemly I think keeps the VC money out of it. Which is a good thing.
You are much more likely to spend Monero because nobody expects it to get to $1000 or higher unless all of crypto goes up as well. So it is much more likely to get a robust transaction infrastructure.
The way I view it is that to eliminate that one con, you have to willingly give up on all the pros. Which is a ridiculous proposition in any scenario.
I honestly think that if the price of Crypto weren’t so darn high, a better ecosystem would have developed around it and it would at least still be useful for payments. But since it is so high, anyone who has any crypto would be nuts to spend it.
Some people hold up the pizzas bought with 10000 BTC as some sort of cautionary tale, because if the guy had held on to the BTC he would have hundreds of millions of dollars right now. But not only was 10000 BTC only worth the price of two pizzas then, nobody back then really knew where the project was going. Certainly no one thought one BTC would ever be worth even $1000 unless BTC transaction adoption really took off. But here we are.
(Plus, I doubt the guy spent his only Bitcoin on pizza for someone else. Someone who had 10K BTC to spare in 2010 likely had a lot more, too. He is probably not eating instant ramen unless he wants to.)
To be fair, there are some services you can get with crypto (I have used those myself), and people (especially Monero community) are promoting a sorta-circular economy with it.
Monero has the additional draw for people who want their transactions really private, not just pseudonymously private. And the fact that some of those private uses may be unseemly I think keeps the VC money out of it. Which is a good thing.
You are much more likely to spend Monero because nobody expects it to get to $1000 or higher unless all of crypto goes up as well. So it is much more likely to get a robust transaction infrastructure.