//When Mainstream adoption?//

in steem •  4 months ago

Cephus corner

So as everyone knows, mass adoption is the only way crypto will move from being a speculative asset to a legit currency. Without having to think too much it is clear that the reason behind that is crypto being just too damn small.
With a minuscule market cap and a huge number of worthless coins with huge market caps.
Small means "volatile" and "volatile" means you cant use it to store value nor can you use it to pay wages to someone working for you nor can you use it for day to day purchases.
You just cant and thats a simple fact.
If you wanted to buy some socks with STEEM the store could potentially let you pay in STEEM, but the price denomination would still be in reference to STEEM/USD. The sock store is still betting that they can easily and quickly exchange that STEEM for USD. USD is still the determinant of value in this case.

USD is to crypto what gold was to USD during the peg (in relation to valuation)

We want to move away from that. We want the crypto we are using to be able to stand on its own.

When the sock store owner can pay his workers in crypto with minor oscillations in value in the short term and crypto has been adopted in a way that allows real world purchases of day to day items, then we can say crypto is close to replacing fiat.

Now there are a 2 options to consider in the long term.

  1. Crypto currencies will hover around these values, go up and down in price slightly, never move away from simply being a speculative investment for most, eventually dwindling away to obscurity until a new fad comes along.

  2. or..... Crypto is here to stay and will find a equal place among the plethora of national currencies, eventually overtake them due to being a far simpler, much fairer, cost-less, border-less, fee-less, almost instant medium of exchange.

Sending 35 Euros from my bank account in the European Union to a non EU bank account costs around 30 Euros ( ive checked yesterday)

If you are in the number 2 camp, then this would mean that indirectly you are expecting a rise in the crypto market cap by factors of 10 even a 100.

Now another thing to point out is that for crypto to succeed it needs a big bubble. Thats a sorry fact and im betting on STEEM to stick around after the bubble bursts while 90% of all crypto projects fail. We need a sort of consolidation within the crypto market in terms of investment and that can only happen once technology behind each project comes to the forefront. I find STEEM to be severely undervalued in that regard. STEEM in my opinion is close to bottoming right now in relation to long term investors based on sentiment and SP holders. STEEM can hardly ever hit 0 in the short term which is not the case with many other crypto projects. BitConnect for example disappeared in about 10 days after its ATH and the fraud going public.

Another day another post.. Stay nice and keep on Steeming. ;)

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