TokenPay (TPAY) has come out again, this time to dash the hope of HODLers, saying HODLing is not the purpose cryptocurrency. In a well-crafted enlightenment messages shared on its medium page, TokenPay stands to make changes to some “myths” in the cryptocurrency space.
Through its Twitter handle, TokenPay has been issuing blistering statements criticizing some ethos in the cryptocurrency community. The cryptocurrency’s recent message started off by saying the ease of integration and clear hype factor made most major crypto exchanges to be predominantly littered with ERC-20 tokens.
“Not only does an ERC-20 token not represent company “stock”, but it is actually even more sinister. This egregious invention has no blockchain or technological utility other than its ease of integration and tradability on unlicensed and unregulated crypto exchanges. It is a proverbial casino chip. There is nothing wrong with gambling, as long as the game is fair. But the crypto market is rigged.”
The blockchain platform then linked the present situation with that of Amazon, remembering the wondering crypto lovers of the 90% stock loss witnessed in a year by the e-commerce company, but still survives and stays among the best.
Adoption Matters Than Anything Else.
To TokenPay, which brands itself “Adoption Maximalists”, mass acceptance of cryptocurrency is germane than any other thing, pointing that real time settlement is very important.
Most Crypto Are Poorly Designed: Bitcoin Is Slow.
TokenPay condemned most of the cryptocurrencies, saying they are poorly designed.
“One of the dirty little secrets of the crypto industry is that there is really no benefit to transacting in most of the coins or tokens.”
As usual, TPAY berated Bitcoin again, pointing that it is slow and costly. The crypto firm said Ethereum isn’t scalable and has multiple bugs. The team said about NEO, recognizing that their blockchain failed recently.
HODLing is Not the Purpose of Crypto? Then What Is?
TokenPay is no bothered about the present condition of the cryptocurrency market. The cryptocurrency sees beyond HODLing saying real life use cases will birth a reformed crypto society.
The firm brags that it has “conducted in excess of a million dollars of real world transactions with various suppliers using TPAY as a method of payment”, and so is more concerned about adoption.
“To us it is an amazing achievement. But instead of embracing the real world adoption of TPAY, there exists a cancerous element of the crypto community that equates price of the coin with the success of an enterprise. There is zero correlation, in fact the inverse in many cases may have more relevance.”