The thing is this is largely by design. You don't make an absolutely finite, reducing supply commodity and expect it to do than anything than turn into a valuable and rare token.
If you wanted a cryptocurrency to actually see use as a currency it would have to adopt a monetary policy analogous to at least what the naive version of how most western fiat policy behaves - you have monetary velocity / inflation / at rest targets and adjust supply to push the market in the direction you want it in.
Whats interesting is that in the general case this is perfectly valid to codify, depending on how far between commodity and currency you want to take your coin. More aggressive inflation algorithms would pressure users to spend it whereas less aggressive ones would cause deflation and hoarding.
Of course such a cryptocurrency is untenable because it isn't a valid pyramid scheme to attract early adopters with. If you build it to just be the ultimate currency it isn't going to see mass market appeal because its not a get rich quick scheme like every other crypto has attempted besides maybe namecoin.
If you wanted a cryptocurrency to actually see use as a currency it would have to adopt a monetary policy analogous to at least what the naive version of how most western fiat policy behaves - you have monetary velocity / inflation / at rest targets and adjust supply to push the market in the direction you want it in.
Whats interesting is that in the general case this is perfectly valid to codify, depending on how far between commodity and currency you want to take your coin. More aggressive inflation algorithms would pressure users to spend it whereas less aggressive ones would cause deflation and hoarding.
Of course such a cryptocurrency is untenable because it isn't a valid pyramid scheme to attract early adopters with. If you build it to just be the ultimate currency it isn't going to see mass market appeal because its not a get rich quick scheme like every other crypto has attempted besides maybe namecoin.