It’s the only digital currency in the world that can be sent/received through SMS

It’s no question the biggest hurdle for any cryptocurrency is its real world utility. Outside the small community of miners and traders that seek short term investments, what else can they really do? Bitcoin is slowly making inroads with companies like Overstock and Dish cable but what about the other 300+ digital currencies? How many businesses accept Blackcoin? Darkcoin? X11coin? The answer is essentially none.

The crypto community would have you believe the answer to that question lies with a point of sale system known as Coinkite. IF you haven’t heard of Coinkite imagine an old school credit card reader that accepts bitcoin, litecoin, and other digital currencies.

Sounds great right? Not really. Coinkite suffers from a serious lack of distribution and high upfront cost.

Only 18 Coinkite terminals in the entire USA

Some of you might tell me I’m being too hard on them. It’s still early, give Coinkite more time. More businesses will adopt it right? Unlikely. Just look at the cost of ownership:

$900. Yes you read that right.

How many small business owners do you know that are going to plop down $900 to accept Litecoin from that one guy who lives 250 miles from them? I don’t need to tell you that businesses use ROI when evaluating new equipment purchases and the ROI on this is piss fucking poor.

OK, enough bashing Coinkite. This article isn’t about them but I had to cover it because *some* people in the crypto community are delusional. They believe getting their coin accepted at Coinkite’s terminal is justification for 10Xing their market cap when it’s nothing more than a PR stunt. It also highlights just how difficult it is to get businesses to begin accepting cryptocurrency until… Myriadcoin’s announcement yesterday.

Myriadcoin is currently beta testing a new SMS wallet which allows anyone in the world to send and receive Myriad through just a simple text message. Just think about that for a second. It’s an insanely BIG deal. This year alone there are 7.2 billion active cell phones. The average person has their phone on them every waking hour of the day. Anyone, anywhere, anytime can safely spend Myriadcoin from their mobile device on the fly. Merchants can forget about purchasing expensive equipment to receive coins, they’ve already got a “terminal” in their pocket. Not only that but transactions are confirmed within 3 minutes as opposed to an hour with Bitcoin.

There is plenty more to say about Myriadcoin and their incredible development team. I could tell you that it’s an incredible BUY right now. Or that an even bigger announcement is coming this Friday. But that’s shortsighted. What MYR just did has the potential to completely shake up this industry and revolutionize cryptocurrency payments around the world and THAT is worth paying attention to.

For more information: http://www.reddit.com/r/myriadcoin/comments/27bq0q/while_others_promise_and_whisper_false_rumours_we/

Interested in trading MYR: https://www.mintpal.com/market/MYR/BTC