To all of those who only care about the price of cryptocurrency I feel your pain, to all of those who care about adoption I feel your excitement. The bear market is a total distraction from what is really going on in cryptocurrency. Between all of the negative fear, uncertainty, and doubt surrounding the industry most people think the viable cryptocurrency product is speculation. Stop worrying so much about the price and worry about real use cases for cryptocurrency, and the teams building those tools and products. It is not the technology itself that will change the world it is what people build with it. You do not go on the internet without a purpose.
What can cryptocurrency do right now
A good practical use for cryptocurrency is a transfer of value, like a traditional currency. Every blockchain has different network fees. Depending on the congestion of these networks they are often far less than credit card processing fees, or some type of 3rd party escrow service like paypal.
We are focussing on a real use case for cryptocurrency because we firmly believe cryptocurrency has the ability to give a lot back to the average person. We are building a zero fee marketplace for sellers. The only fees the seller will have to pay our network fees in our cryptocurrency version of ebay. If you have any questions about what we are building feel free to ask them in our discord. We are also taking coin requests. If you would like to sell your items for a certain coin please tell us that coin in our discord.
We want to build a platform for our highest priority customer, sellers. If you have questions or want to see certain features please communicate with us in our discord.
A real use case will drive cryptocurrency transactions through the roof
We are building a series of tools on our platform that will fundamentally change how ecommerce will work. Building a cryptocurrency marketplace for your goods avoids a lot of fees for the sellers so that they can build a better business for themselves. Such as buyers do not need to pay taxes, no credit card fees, no chargebacks, this all equates to more margin for the average online seller. You can sign up to sell on our platform here.
There are other projects that are building better tools, token models, and use cases that will allow the future of cryptocurrency to flourish far beyond what we once saw in the high q4 season of 2017.
If you only care about the price
If you only care about the price and do not care about all of the incredible projects being built around the entire space you are buying cryptocurrency for the wrong reasons in my honest opinion. In order to drive the price of any of these volatile digital currencies, you have to introduce money into them and this can be done. For a number of reasons, but the most practical would be to find a real use case.
Creating products are vital to cryptocurrency adoption
Similar to code, cryptocurrency has the ability to build anything monetary and is only limited by your imagination. After the mainstream attention Bitcoin and Ethereum received in 2017 we enter a pivotal point in the market. This is a phase where the people with the right intent will succeed. The people with the best product and user experience will not be affected by the tremendous swings the market might have.
For example, we feel that our marketplace will be the most incredible place to sell your items online because we are utilizing the technology in the Ethereum blockchain. Our business is what we are calling price proof.
Price proof cryptocurrency models
A term that we are calling price proof is a cryptocurrency related company that works unrelated to the price of cryptocurrency. For example, bitcoin loan companies are going to be very hard to scale because of the swings in the market. This model could work, but it will be difficult to scale given how volatile and speculative these digital assets are.
Most of the companies that have a real use case or cryptocurrency are price proof business models that are unaffected by the price of their coin or any other crytpocuurency.
Without people using crypto products
While this is not entirely true, it is one of the more prominent issues in price. Volume and transactions are a key indicator that a certain coin is progressing rapidly. At the end of the day cryptocurrency is a grassroots movement. There are a ton of incredible projects that need your support. They need feedback, and customer loyalty. If you are a fan of cryptocurrency and want to see it succeed you should try to support projects that are building dapps, crypto advancements, development tools and supporting a bullish outlook on the entire industry.
Volume is a clear indicator of what is happening in the market, and is one metric used in technical analysis regarding the price of any asset. If people are constantly using crypto related services, and transferring their hard earned fiat dollars for crypto this will almost certainly dive the price up even if the person decides to sell right after. If a product is providing a real use case for crypto the entire community should actually use and vouch for it, instead of just purchasing the cryptocurrency and holding. There are a ton of projects that are providing a real use case for cryptocurrency.
These are a few of the cryptocurrency projects that I feel have a real use case within the cryptocurrency space:
Hexel — A Y Combinator backed company with the wild idea to tokenize the world. Golem — Building a rendering supercomputer. Brave — Building an incredible browser that saves money on advertisements. Steemit — Creating a social network that pays for your content.
I am missing a ton of projects that are well suited and will positively affect the entire space, but for now these are the ones that jump out at me. Drop by our discord if you have a cool project you would like to share: Link to discord
These better suited for blockchain type businesses keep popping up. They need customers in order for them to stay around. If something looks interesting in the space please share it.
Disruption is only the tip of the iceberg
I am not sure if disruption is the best word to describe some of the industries that will be affected by blockchain technology. Personally, I think a lot of consumer-related industries will not exist in a few years largely due to smart contracts. Ultimately the best user experience will win no matter the industry. Take a look at the video industry as a whole. In the beginning, there was a ton of mom and pop shops until blockbuster came around and dominated the industry introducing a massive supply chain that disrupted the entire industry.
Once blockbuster solidified itself as the video renting giant a new beast was born, Netflix. Netflix is undoubtedly the reason why the once king blockbuster is no more. Their business model could no longer compete with the changing technology.
Blockchain technology is going to bring many many Netflix like businesses that will not only disrupt but will also completely destroy traditional kings and seemingly known monopolies in all different areas of business. Who cares about the price of individual coins when all we should be caring about is adoption. Stop caring about the price, worry about adoption
The advancements happening in the blockchain space are shaping to become the type of technology we need in order for everyone to catch up to the big guys. This financial revolution is designed to take away from the bigger industries and giants in the financial industry. Even if you use the United States Dollar you are taxed with every transaction. When you use cryptocurrency you avoid paying fees and taxes on every transaction. Goodbye to the 2% of fees that sellers have to pay both online and offline.
When you worry about the price you worry about the wrong things, adoption of cryptocurrency is what we should be worrying about. The long-term future is in adoption. The long-term future that we all want as cryptocurrency enthusiasts will not exist if we do not use or reward the services built on it.
Adoption of cryptocurrency
Adoption of cryptocurrency will come from the real world use cases innovative people can come up with. Web3 and blockchain technology is only limited by the imagination of the person engineering the product. If you are looking to create an innovative product in cryptocurrency space I would recommend doing so sooner rather than later. There is a ton of innovation happening around the space. It is only a matter of time that the people with a real use case.
If you would like to be one of the first to sign up for our real cryptocurrency use case please sign up here.
Originally published at junktion.io.