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by imtringued 1392 days ago
>Right now nobody is really interested in using Crypto for payment. I like to find real use cases and looking forward to buy real stuff with it, but most people just hodl, especially when markets are down.

I saw Solana and thought, okay so it is possible to build a scalable cryptocurrency, but then again, the culture of speculation and excessive amounts of volatility make cryptocurrency useless for payments.

The only promising cryptocurrency I have seen so far is the non pegged stablecoin RAI which is basically trying to emulate central banks via a smart contract that uses control theory to adjust a redemption rate which is effectively an interest rate that changes the unit of account rather than the quantity of money.

Anyway, what this means is that cryptocurrency currency is still trapped in its degenerate gambling culture and we are at least a decade away from seeing real innovation in the cryptocurrency space beyond the usual tulip mania.

2 comments

> I saw Solana and thought, okay so it is possible to build a scalable cryptocurrency, but then again, the culture of speculation and excessive amounts of volatility make cryptocurrency useless for payments.

Solana, Stellar and Algorand makes it usable and possible for scalable crypto payments with USDC. I just tried it, swapped it and it works well.

I'm not sure why people are not talking about BUSD. It is arguably safest and fastest stable coin.

a stable coin gets its audit in US.