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Why Bitcoin Will Never Become A Popular Payment Method. Crypto Expert Alex Reinhardt Shares His Opinion

Despite the fact that BTC is unlikely to become as popular in the world as fiat currency, there are still some coins in the market that have that potential. For example, PLC Ultima, which features a developed ecosystem with its own set of products, which you can already use to pay with these coins in stores and freely buy everyday goods.

Crypto Expert Alex Reinhardt
Crypto Expert Alex Reinhardt

On March 30, 2022, Bitcoin was worth 47,000 USD. But what do we have today? Its value is experiencing the highest volatility in history and it continues to fall each day. Those who kept their capital in BTC suffered losses estimated at millions or even billions of dollars. This isn’t the end yet, and BTC is very likely to “come back to life” in the future. But these types of jumps are the main reason why Bitcoin will never become a universal and popular payment method, especially since this isn’t the first time it has demonstrated such high volatility. 

Here is what Alex Reinhardt, the founder of more than twenty IT and fintech startups, one of the leaders of the crypto market according to the American business magazine Entrepreneur, says about this: “I am very impressed with BTC and its system, but unfortunately, this Cryptocurrency doesn’t have the kind of future that its supporters imagine. First of all, this cryptocurrency uses Proof-of-work and traditional mining, which has a serious negative impact on the environment. Secondly, due to the strong volatility that Bitcoin has been showing for several years now, it’s impossible to pay with BTC everywhere, because the rate jumps back and forth. Because of this, Bitcoin has long been an asset used by unscrupulous speculators for their own purposes. The only possible development is for Bitcoin to become a store of value, like gold or stocks.”

PLC Ultima as an alternative payment method

Despite the fact that BTC is unlikely to become as popular in the world as fiat currency, there are still some coins in the market that have that potential. For example, PLC Ultima , which features a developed ecosystem with its own set of products, which you can already use to pay with these coins in stores and freely buy everyday goods. And what is more important for an everyday means of payment than its availability and flexibility in circulation?

Thanks to minting technology, a greener and easier alternative to mining, PLCU coins can be minted and used even by people who don’t have access to traditional banking systems. For example, residents of regions such as Nigeria or the Philippines. To start generating coins, and then use them to pay online or exchange them with another currency (for example, the euro), you just need to purchase any number of PLCUs and download several free applications to your smartphone (Ultima Farm and Ultima Wallet). You will also need an Ultima Minter certificate, which is a kind of permission for minting that is purchased separately. The larger the size of the purchased certificate, the more coins can be minted at a time.

What happens next? With the help of Ultima Minter and applications, the purchased coins are frozen, and after the freezing period (which is equal to one year) expires, these coins are unfrozen in the wallet again. And along with them, the generated reward in the form of new minted coins goes to the wallet. The security of all transactions is ensured by a smart contract, which is automatically concluded between the user and the PLCU at the time the minting is launched. The smart contract secures all the conditions, including the reward amount and the term. This contract is extremely transparent, always available to the user and not subject to any changes after its conclusion.

The PLC Ultima infrastructure mentioned above also aims to make the coin ubiquitous in real life. For example, the Platin Hero crowdfunding platform allows you to launch and support startups using the PLCU cryptocurrency. At the same time, you don’t even have to spend any money: thanks to the principles of minting, some amount of coins are frozen in the investor’s wallet, and they are unfrozen as soon as the crowdfunding campaign is over. If this campaign is completed successfully, that is, the startup has collected the required amount, the investor also receives a reward (in new coins). If not, then only the initial amount is returned to him.

And on the Platin Deal marketplace, you can pay with more than ten cryptocurrencies! You can already purchase certificates that allow you to buy a car and much more with up to 50% savings, as well as cosmetics, branded clothing, jewelry, and art.

PLC Ultima also has a network of POS terminals, vending machines and its own payment system with PLC crypto-debit cards, which are already used in stores and for international transfers by more than 1,000,000 PLCU community members around the world. 

The PLC Ultima blockchain is based on the Litecoin blockchain, protected by the CryptoNight encryption protocol, with a guarantee of 100% decentralization. Moreover, the coin’s stability is ensured by the regular burning of coins as well as the solid infrastructure. Of course, like all coins, it reacts to market challenges, as well as favorable and unfavorable factors. However, thanks to a strong infrastructure and products for the user community, this coin is more predictable. So this is a very promising - and, most importantly, convenient - option for a popular means of payment.
 

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