> “Yes, ethereum is a currency in a way where you can exchange [non-fungible tokens, or] NFTs and stuff … but as far as buying food and all that, maybe not,” one crypto-enthusiast diner, Marc Coloma, said as he munched on fries outside the restaurant. “People want to hold onto their ethereum. They’re not gonna want to use it.”
Then what is the point then? Apecoin and Ethereum certainly cannot be used for payments and holders don't even want to spend their ETH or APE crypto. They have either been terrified with the 10,000 BTC pizza purchase to never spend it or they are scared of the gas fees that will eat up the transaction cost if the chain gets congested again.
It is a loss of confidence that is so bad that they have no choice but to use dollars for payments instead.
That is a complete failure and it just took one crypto crash.
Then what is the point then? Apecoin and Ethereum certainly cannot be used for payments and holders don't even want to spend their ETH or APE crypto. They have either been terrified with the 10,000 BTC pizza purchase to never spend it or they are scared of the gas fees that will eat up the transaction cost if the chain gets congested again.
It is a loss of confidence that is so bad that they have no choice but to use dollars for payments instead.
That is a complete failure and it just took one crypto crash.