On March 30, 2022, Bitcoin was worth $ 47,000. But what do we have today? The value experiences the highest volatility in history, and it continues to fall every day. Those who kept their capital in BTC suffered losses estimated at millions or even billions of dollars. This is not the end yet, and BTC will probably “come back to life” in the future. But this type of jump is the main reason why Bitcoin will never be a universal and popular payment method, especially since this is not the first time it has shown 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 has not the kind of future its followers envision. First and foremost, 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 shown for several years now, it is impossible to pay with BTC everywhere, because the exchange rate jumps back and forth. Because of this, Bitcoin has long been a resource used by unscrupulous speculators for their own purposes. The only possible development is that Bitcoin becomes a value store, 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 has 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 a daily means of payment than its availability and flexibility in circulation?
Thanks to minting technology, a greener and simpler alternative to mining, PLCU coins can be minted and used even by people who do not 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 (such as Euros), you just need to buy any number of PLCUs and download more free applications to your smartphone (Ultima Farm and Ultima Wallet). You also need an Ultima Minter certificate, which is a kind of stamping permit that is purchased separately. The larger the size of the purchased certificate, the more coins can be minted at a time.
What happens afterwards? Using Ultima Minter and applications, the purchased coins are frozen, and after the freezing period (equivalent to one year) expires, these coins are frozen back in the wallet. And with them goes the generated reward in the form of new minted coins to the wallet. The security of all transactions is ensured by a smart contract, which is automatically entered into between the user and the PLCU at the time the stamping starts. 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 can not be changed after the conclusion.
The PLC Ultima infrastructure mentioned above also aims to make the coin ubiquitous in real life. For example, the Platinum Hero crowdfunding platform lets you launch and support startups using the PLCU cryptocurrency. At the same time, you do not even have to spend money: thanks to the principles of minting, a certain amount of coins are frozen in the investor’s wallet, and they are frozen as soon as the crowdfunding campaign is over. If this promotion is completed, ie the start-up has collected the required amount, the investor will also receive a reward (in new coins). If not, only the original amount will be returned to him.
And in the Platinum Deal marketplace, you can pay with more than ten cryptocurrencies! You can already buy certificates that allow you to buy a car and much more with up to 50% savings, as well as cosmetics, designer clothes, jewelry and art.
PLC Ultima also has a network of POS terminals, vending machines and its own payment system with PLC crypto debit cards, already used in stores and for international transfers of more than 1,000,000 PLCU community members worldwide.
The PLC Ultima blockchain is based on the Litecoin blockchain, protected by the CryptoNight encryption protocol, with a guarantee of 100% decentralization. In addition, the stability of the coin is ensured by regular burning of coins as well as solid infrastructure. Of course, like all coins, it responds to market challenges, as well as favorable and unfavorable factors. But 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, practical – option for a popular means of payment.
