When I was a boy, growing up in the thick, remote forests outside of the Arkansas River delta, I would jam frogs into the pockets of my jeans and trade them to my classmates. School supplies, candy, soda, toys, I could talk some of the kids into giving up some pretty cool things using the toads to barter with. After doing this for several days in a row, I had convinced a handfull of the kids at my school that the frogs I was able to procure for them were rare specimen. I was a natural salesman.
"You give this frog a big 'nuff spot to live, it'll grow 'bout this big," I would say, spacing my hands a foot and a half apart, indicating a length that was simply foolish. If the kid so much as hesitated, I would dip into my bag of tricks, normally pulling out a healthy dose of reverse psychology.
"But, hell, I can prolly get sumthin' better than a ham sammich' for this guy.....how big he is...."
I was able to convince a good majority of my classmates that these frogs were valuable creatures. They were given the notion that if they held on to the critters and nurtured them their investments would grow in size and in value. Sometimes, if I somehow didn't manage to seal the deal, or if I couldn't find a suitable foster parent, I'd let the frogs go before I went in for dinner.
OK! OK! I'll stop all the bullshit reminiscence and get to the question that has been on my mind for the last couple years : What does the integration of cryptocurrency into societal use actually look like? How far can this go? If you ask this to several people, you will find that there really isn't a grey area being discussed. People think that cryptocurrency is a trend, a fad, something that is popular now and will someday fade away. Some even believe that after it fades away, its adopters will be left with a digital wallets with numbers that hold no value, and that the con-artists responsible will drive off like thieves in the night. The other side of the argument, generally made by enthusiasts, is that cryptocurrencies will replace centralized currencies and will someday be accepted at every retailer and industry.
It is no secret that the most successful altcoins are the ones that have managed to bring some form of new integration to market with them. Whether it was backed by the theory that "tokenomics" would give it value, or maybe was the first currency that incorporated a unique security feature that would best all others in use, the best coins are distinctive. For those unfamiliar with the terminology, "tokenomics" refers the release of tokens on a blockchain that can only be purchased with a governing token. For instance, although there are exceptions (i.e. Bittorrent, Winklink, etc.) most Tron tokens can only be purchased with Tron tokens. This promotes use of the governing token, and in a sense is a means of self-marketing by keeping value within one blockchain. It looks good, primarily because there are several currencies backed by the tokenomics theory,(Chiliz, Waves, EOS, etc) but I believe the support of altcoins based on this sole principle is starting to fade.
I threw down a couple hundred bucks on Studentcoin during the ICO phase. As of right now the price of Studentcoin is $0.0154 and is not much more than what I paid for it. In hindsight, it may not have been the best investment because the token has no real practical use. There has been 2 other tokens (new to the Studentcoin network) that were airdropped to me. It seems like the only real prominent feature of Studentcoin is the tokenomics effect. TO BE DETERMINED FOR GODDAM SURE!
I'd say that the most probable way crypto will be adapted by the masses, currently, is if banks can find a way to incorporate the currencies into their everyday practices. Here we have another topic if debate within itself. Banks make the majority of their money on the interest they collect from business and personal loans. Decentralized financing (Defi) platforms are changing the game when it comes to obtaining a loan. Bitcoloan is a DEFI platform that specializes in simple lending to common people and also to businesses. Try to obtain a loan from a bank with no car and no house to put up for collateral and they will laugh in your face. If you go to find a Defi solution, you merely need to put up some crypto for collateral and the cash is yours.
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One of the biggest questions that face adopters of cryptocurrency is: How will legislation effect cryptocurrencies in the future. You feel this kind of heat especially if you live in the United States, like I do. I am well aware that the federal government here is not a fan of money exchanging hands without the ability to insert their grubby paws. I am constantly waiting for the other shoe to fall when it comes to that.
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