Theory of TenX and other debit "CryptoCards"
I'm going to start with economic theory. Then try to predict the future of cryptocurrency and cryptocards.
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We are all here because we want cryptocurrency to become the reserve currency of the world. All of us are invested in various coins, whether it is bitcoin, litecoin, ethereum, etc. But what determines the price of any cryptocurrency? What determines the market valuation of my coin? Well my argument is that what should determine the market value of a coin is in its: 1) usefuless, and 2) the probability that the coin will continue to exist in the future. In my argument, Bitcoin, for example, has 2.5 times the market cap of ethereum, so it has 2.5 times more likelihood to endure into the future, whether as a currency, a store of wealth, or usefulness to the general population. And arguably so, because I believe the vast majority of ICOs based on ethereum will end up being useless.
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So now we come to this new class of cryptocurrencies, that I call CryptoCards, such as TenX, Monaco, Tokencard. How do these fit into cryptospace? Well for one, they are theoretically very useful. Instead of using a Visa or Mastercard to debit from your fiat currencies, these new CryptoCards will debit from your crypto currencies. Now...isn't that we were are all looking for anyway??...To not only be able to use cryptocurrency as if it were fiat; but also to turn cryptocurrency from a niche commodities market into the dominant global reserve currency? Can you get more useful than that?
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And the second question: how likely is the long term survival of these CryptoCards? Honestly, I don't know. But I believe that: the larger the part of the world that cryptocurrency becomes => the more these CryptoCards will be used => therefore, some form of CryptoCards will always be here with us, either for its usefulness or as a store of value, for as long as bitcoin continues to exist.
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Expanding on my second point: so what prevents these cryptocard coins from storing value and increasing in value like bitcoin has? Nothing. For example, the TenX coin is useful not only because you can use it as a currency, but also as more people have it and use it, its demand will increase, and therefore its price will also go up. In the future, whichever cryptocard coin ends up coming out on top, I think will likely increase in speculative and stored value, just like bitcoin has.
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