Value is something marvelous we all strive for. In our personal and professional lives. When you think about it, it's all about value, efficiency, and optimization these days. And they're not wrong (whoever "they" might be) ‒ it truly is about all of the above.
So, today, more than ever, people (including you and me) are aware of the existence of cryptocurrencies. Plus ‒ we're all becoming even more knowledgeable about the benefits crypto is able to bring in the future, i.e., on the government level, education-wise, all-around-better life, etc.
But for the master plan to work, it's absolutely vital that there would be a simple solution where to exchange the fiat currencies into crypto, and another way around. The price of this "digital money" should not, nor need be, based on supply and demand. Read about the subject of value on one of our previous blog posts about price vs value.
Don't be haunted by the past. Look ahead instead
Back when it all kind of started off, we witnessed massive fluctuations in the prices of all of the cryptocurrencies. I'll say without a moment's hesitation that this issue is precisely the reason that's keeping the merchants away.
What also happens is when crypto price rises folks become super active, do crazy promotions and provide ridiculous promises. And, when the price falls they get scared and step on the safe side, they become extra cautious.
Fluctuation, of course, slows down, firstly, the spread, and secondly, the mass adoption of cryptocurrencies. Therefore, the value should depend on real measurables, not on the agreed-upon ones.
We believe that cryptocurrencies should be treated as money, not as financial instruments. We're absolutely convinced that the value should be based on the users, merchants, and usability. So, if you want to be a winner, well, then start accepting dags.
The more possibilities there are for using the coins, and the more people have and use them, the more valuable it becomes. Value adds even more value. Simple.
The magic word is usability (and time)
A strong indicator for evaluating cryptocurrency is its usage - the number of transactions performed using the coins. This doesn't include transactions done on the exchanges aka trading platforms but completed in real life, i.e., sending funds between people and buying stuff from the merchants.
However, the coin usage shouldn't be taken into account just yet as the world has only just started to see the whole picture, trusting it, and therefore moving closer to adopting it.
Time-wise, it'll take a minimum of four to five years for the coins (and using them most and foremost) to start making proper sense to the critical mass.
- As a result, there will be, thanks to a large number of people who've adapted to cryptocurrencies, real stability on the market. How delightful would that be?
- Moreover, even the majority of merchants are going to accept the coins and will be able to cover their full supply chain with cryptocurrencies.
- There will be many possible financial services available for cryptos, and without the ridiculous costs which we're all (still) experiencing today using the fiat currencies.
But, before all of the above will commence, we need to focus on spreading the info and communicate to the masses about the real benefits of using cryptocurrencies. We need to get people and merchants involved and continue building the ecosystem around the currency.
With this strategy, we believe dagcoin will be one of the biggest cryptocurrencies in the future. Sky's the limit, right?
So, what are you waiting for? Ready, steady, go! And do read about how to revolutionize the crypto-verse.
Did you like what you just read? Jump on board. Let's make amazing things together!
Originally published on our website at dagcoin.org on October 3, 2018.