There was an interesting article published in Forbes yesterday about the fact that the major popular cryptocurrency apps aren’t focused on helping merchants to implement cryptocurrencies as payment methods, but are only concerned with facilitating price speculation. Coinbase has even gone so far as to halt their current merchant services program. Everyone is caught up in the FOMO and wants a piece of the rising Bitcoin pie. There is an immediate compulsion to believe that this is a negative thing, however it is also possible that this is the most powerful catalyst available to get people involved. Once people are comfortable and familiar with using wallets, controlling public keys, and not losing their life savings to pump and dumps, the whole ecosystem will be ready for the release of the useful DAPPs. Instead of fighting against the price speculation I wonder if it isn’t just better to tap into this enthusiasm and encourage it even more. Cardano has the feeling of being conservative, reserved, and methodical and is playing the price speculation game phenomenally. I’m curious of how the community feels about taking advantage of some of the FOMO to onboard more people in a calculated manner.
Article in Forbes: Silicon Valley’s Bitcoin Apps Are Now About Price Speculation, Not Cheaper Payments - https://www.forbes.com/sites/ktorpey/2018/01/29/silicon-valleys-bitcoin-apps-are-now-about-price-speculation-not-making-cheaper-payments/#540dddb4441f