Imagine that you decide you want to buy a widget so you walk into the widget store to check out prices. The best one you can afford costs 1 crypto thingy. You decide to go home and think about it.
The next day you walk back to the widget store to make your purchase.
Oops – the price is now 1.25 crypto thingies.
What?
Ok, you have to sleep on it some more.
Two days later you walk back in and see that it’s now 1.15 crypto thingies. You figure it’s going down and decide to wait a few more days.
The next week you check and it’s now 1.2 crypto thingies.
WTF?
And that’s the problem with crypto payments. The volatility in crypto pricing for things in the real world is a major turn off for users.
The only crypto payments that are likely to succeed in the long run are those based on stable coins. I doubt you’re going to find many users making purchases with volatile currencies such as Bitcoin and Ether.
Bitcoin will likely remain a store of value – like gold.
Ether will likely survive because its EVM is a de-facto standard. But if that standard shifts to something better, it will likely not have any reason to be a thing.
Either way, I can’t see crypto payments being based on very volatile instruments. Humans crave stability, especially in pricing. In the long run, Stable Coins are likely the only instruments that will be popular for crypto payments in the real world.
The ‘metaverse’ might be a different story though…
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