For TokenPay (TPAY) “HODLing Is Not The Purpose Of Crypto”
TokenPay (TPAY) has come out again, this time to dash the hope of HODLers, saying HODLing is not the purpose cryptocurrency.
Through its Twitter handle, TokenPay has been issuing blistering statements criticizing some ethos in the cryptocurrency community. The cryptocurrency’s recent message started 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.
Most Crypto Are Poorly Designed: Bitcoin Is Slow.
TokenPay condemned most of the cryptocurrencies, saying they are very 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 BTC again, pointing that it is slow and costly. The crypto firm said Ethereum isn’t scalable and has several 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.”