Whats best for mode?8 Feb 2021 17:44
Hi all,
Just been having a bit of a muse on MODE today. Having seen a number of posts discussing how the fluctuation/volatility of BTC is beneficial for MODE, i was curious if this is actually the case.
Having thought about it, sure, people selling BTC is great for the transactional value it adds to MODE but what i believe is best is people using MODE to either buy BTC or send BTC to one another. The value of MODE is obviously attached to BTC activity but i believe we will only see the positive effects of this when the BTC activity is positive (i.e. people not selling BTC). Picture it this way, if everyone sold their BTC back to FIAT currency then sure there would be a fair amount in transactional revenue from this but MODE wouldn't exist for much longer. Whereas as BTC and crypto becomes more adopted into society and the financial system, the popularity and use of MODE will increase, the transactional revenue (hopefully) and thus the share price.
I'm confident in MODE in the long run and remember, they haven't spent anything on marketing this yet. My assumption is they'll probably start doing that when they release the "superapp". When they release budget for this, if its spent in the right way and at the right time (ideally a BTC bull-run) then hopefully we'll see this fly.
Cheers