RE: What Is Going On With Cryptocurrecny?
You are viewing a single comment's thread:
Crypto is definitely hitting the mainstream and there are pluses and minuses to that. I remember back in 2016-17 a lot of us thought blockchain/crypto would revolutionize the world and usher in a brand new decentralized society. Some friends and I were even writing a fictionalized series that we hoped to sell to Netflix based on that premise.
Years later the phenomena is slowly changing the world and is offering some (at least for a few more years anyway) a path to financial freedom but not exactly how we originally envisioned. I think the grand vision of sweeping societal changes has been lost on a lot of the normies who are investing in the space now, many of them just see crypto as another way to make fast money.
IMO, crypto/blockchain will eventually be adopted by all big corporations and governments. It will be used a tool to run businesses, and commerce in general, more efficiently. The whole backbone of our society, everything from the power grid to autonomous car networks to national digital currencies will run on some version of blockchain tech.
As more big corporate players enter the crypto market the volatility will decrease, as will the chance to make huge gains. Many of the alts will fade away and the entire traditional stock market, as we know it today, will be retooled so you'll be buying company tokens instead of shares of stock. I might be way off base in my predictions but it'll be interesting to see what the future holds.
tl;dr: Don't forget NFTs!
I see something very similar. Blockchain, as a method of handling data, simply solves too many problems to not be integrated into our handling of data, as a society.
Where I disagree is the idea that the alts will die away. I think because of how transferrable liquidity is between coins, there's very little reason not to add new tokens: as you say, for new companies, new neighborhoods, etc.
What will change is the disconnect of these tokens from the established tokens, but we've already kind of seen that: many new tokens run on Ether.
The implication of this I think we're going to see explored this year: how easy it now is to take something non-fungible but tokenized and derive a market value that can be understood by two individuals, buying and selling the thing, right there.
Posted Using LeoFinance Beta
NFTs are really a storm that is brewing which will change a lot of things. We are going to see a massive explosion in that arena, which is going to catch a lot of the existing system off guard.
The ability to tokenize, thus monetize, just about anything, by anyone, is something they do not know how to handle. This is going to create major problems for all these types of entities.
Posted Using LeoFinance Beta
I mean I'll be honest - I'm aware of the technology and I'm having a hard time even getting a handle on the possibilities, so I can plan my place in the changes!
It is truly impossible to keep up on. There is so much taking place that even paying attention makes it tough to grasp fully what is taking place.
The only thing we can hope is to get general trends in place. We are in a period of acceleration that makes things very difficult to wrap out minds around.
Posted Using LeoFinance Beta
We often overestimate the impact of technology in the short term and under estimate it in the long term.
We still are in the early stages but people expected the 2017 time period to be the game changer. We spent 4 years building infrastructure. That is needed for more to be built on top of it.
This is all a process and we have a lot more people involved than we did 4 years ago.
But yes, this is about changing the world, not adding a few dollars to one's bank account (although that will take place for many people).
Posted Using LeoFinance Beta