Dallas Mavericks owner Mark Kuban said in a new tweet that the current price of digital currencies reflects real demand, citing the popularity, widespread acceptance of digital currencies and the growing use of the field in the real world.
to the the report Billionaire investor Mark Cuban, the Telegraph, tweeted today assessing the current and future state of China’s blockchain technology and investment. He eventually concluded that there are real barriers to asset price acceptance that increasingly reflect “usability” and “demand”, but that the day will finally come when digital currency will reach a point of maturity where we wonder how without it. We have lived it.
In a previous tweet, Kuban noted that this asset class, despite its potential use in speculation, is maturing digital currency prices, which are a by-product of current use.
Digital currency and every use of it is constantly evolving; From what it is related to its usability potential to its current usability and the number of users it has. Token / Quinn prices are now lower than bets on their future and are more indicative of real demand.
Referring to the possible large claims made by inactive Layer 1 chains, Kuban wrote:
It is not enough to have more transactions per second and less gas fees. There should be a current network effect and significant user growth. This is a challenge for most of the first and second tier, because with a few exceptions, marketing in the digital currency world is awful.
He goes on to say that he is confused when he asks teams about product sales, gross profit dollars and profits, but these criteria are very important in what he describes as an important competitive field.
Without users, what is the value of blockchain or second tier solutions? They have not yet identified how to sell. They pay premiums to developers for liquidity and credentials; But to attract users, they invest little in marketing.
In addition to marketing concerns, the owner of the Dellas Mavericks Club said a lack of broad understanding of key forces such as protocol governance is holding back growth. He said not enough is being done to emphasize the impact that governance can have on their platforms and products.
Finally, he believes that participation in governance will eventually become a standard. Kuban added:
I think over time, sovereignty is expected of all users, and most of them will at least participate by voting. But today this issue is less understood and hinders the growth of some platforms.
If a digital currency goes through its current phase, digital assets can evolve to the point where we wonder how we would live without them. Kuban sees the current stage as a stage where users need to be educated, products and services must be sold, and they must deliver on their original promises.
Kuban recently expressed his belief in the upward trend of digital currencies; In particular, by reiterating its support for Bitcoin and Dodge Coin as payment options after Elon Musk’s remarks, which may have caused the market to collapse. In this regard, he says:
At Dallas Mavericks, we continue to accept Bitcoin, Ethereum and Dodge Coins; Because we know that substituting gold for a store of value helps the environment and shrinks large banks. Using Quinn will benefit the community and the environment.