What To Make Of The World Of Crypto: TDLR: It Is Postive
We see all the negativity associated with the cryptocurrency market. It is most likely just the bear affected everyone.
In this video I discuss how there is a lot going on that doesnt receivev the attention from crypto media. Bears are for devlopers. And they are doing it.
▶️ 3Speak
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I am very confident and positive on Crypto Market
We need to make it about use case going forward. As we discussed on the Cryptomaniacs, we need to get the "beanie babies" out and get real use cases in! No better use case than Hive really. Since the bear, it's been Hive, HBD, and Bitcoin and everything else is just an engine to get more of that.
Without a doubt. What does the damn thing do?
We need business builders, not more Wall Street people.
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It is not negativity, it is caution. Cryptocurrencies are a new technology and many still do not have enough confidence to bet all their savings.
Crypto is developing technology and it's going to take time for things to play out. Of course, the concepts being developed can be game-changing because industries like games are stagnant. I wouldn't mind seeing some change.
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I dont follow gaming enough but from what I can see, there is huge potential for disruption there.
It is ideal for tokenization since they already use it.
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Summary:
In this video, Task discusses the current state of the cryptocurrency industry amidst various issues such as lawsuits, stablecoin regulations, and negative media coverage. He emphasizes that focusing solely on market fluctuations can lead to a skewed view of the industry's potential. Task highlights the underlying technology of blockchain and distributed ledger systems, mentioning specific projects like Bitcoin, Ethereum, Cardano, EOS, and more. He also discusses how decentralized finance (DeFi) and DAOs can disrupt traditional systems like banking and business structures. Task concludes by stressing the importance of looking beyond short-term market movements and focusing on the innovative work being done by builders, developers, and entrepreneurs in the crypto space.
Detailed Analysis:
Task starts by acknowledging the tumultuous environment in the crypto industry, pointing out ongoing lawsuits like the one involving Terra Luna and increasing regulations on stablecoins. He notes the prevalence of negative news in media coverage and cautions against solely relying on these narratives to form opinions about the industry. Task highlights that media tends to focus on clickbait and negative stories, leading to a distorted view of the market's actual state.
Moving on, Task delves into the concept of market reflection, asserting that market movements do not necessarily reflect the true value or potential of a project. He uses Walmart's recent stock price drop as an example to illustrate his point about market fluctuations not always aligning with the underlying fundamentals of a company.
Task then transitions to discussing his evolving views on cryptocurrencies like Bitcoin and Hive. He stresses that his perspective on these assets is not solely based on their price movements but rather on the technological advancements and developments within the crypto and financial markets.
He further explores the power of distributed ledger technology, equating blockchain to a potent force with the potential to revolutionize various industries. Task highlights specific projects like Bitcoin, Ethereum, and Cardano as examples of how blockchain technology records transactions and enables other functionalities like smart contracts.
Additionally, Task touches on the future implications of blockchain and cryptocurrency on sectors beyond finance, such as real estate, social media, anti-counterfeiting efforts, music, gaming, and e-sports. He speculates on the disruptive impact of decentralized autonomous organizations (DAOs) on business structures and industries like autonomous vehicles, movies, and tokenization.
In the conclusion, Task emphasizes the importance of focusing on the long-term innovation and efforts of builders and developers in the crypto space rather than being swayed by short-term market fluctuations. He encourages viewers to look beyond the noise of market volatility and instead pay attention to the impactful work being done that will shape the future of various industries.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.