Why Crypto Winter Is Great For Hive
Many are feeling the pain of crypto Winter. The fallback in the markets is extreme. Of course, we might not be near the end, there could still be lower levels to go.
In this video we talk about the cleansing that is taking place. There is so much potential with both blockchain and cryptocurrency. We can truly create reserveless oprivate bank money without the banks. To achieve that end, the mania of price speculation has to pass. We also need the builders to take over.
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I also do believe in such potentials you're talking about , thanks taskmaster for passing some positive vibes when red signal found in crypto world.
There is a lot of positives to bear markets. Ignore price and they become a lot clearer.
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There are two very important points about which you talk about the cleaning of Cryptocurrency holders and also about price speculation. Topics to be discussed in greater depth
Price speculation is not a long term builder of an industry. It requires a lot more than that.
Right now, we are clearing out the excess and the projects that are truly building will emerge at the forefront.
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We’re holding on and not afraid. If Bitcoin drops much lower, We might have to beg, barrow or steal to by more. I believe when it starts going 🆙 again it’s going 🆙 big time.
The markets do provide opportunities for those who have long term vision. For those who believe in Bitcoin's future, it is hard to argue against accumulating at these prices.
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Exactly. We put several thousand into it for my son’s future. He’s only 4. I know he will have some money when he’s 18. 😉
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Love it.
$0.10 USD? Not yet. Today it is around $0.33 USD and $0.37 USD. Of course if it will go down to $0.10 USD, then I will buy some.
I think the point is it could get there.
HODLers will win; buyers at lower prices will really win.
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I know it's going to be great to learn some tactics. Thanks for sharing
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STOPI agree. There needs to be more projects that fail so the money can get redistributed over to better projects. We need better projects that can change the current structure.
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It is all about resources. The more spread out things are, the slower it goes.
Not only money but talent needs to be directed. The bear has a way of doing that.
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I wonder if we can get to a point where people will not be so speculative with prices. Sadly though, with all the big money in these things and looking to screw people as much as they can like with Terra, I don’t know how close that is to being possible.
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Well markets exist so people can speculate so that never leaves. It is also why crypto (as we know it) will never be a medium of exchange. Those speculating will always be overwhelming. Stablescoins will likely end up filling this purpose.
However, the impact can be lessened. After all, people do speculate on USD but it is a small portion of the overall transactions tied to it. For that reason, it has low volatility compared to a lot of other things.
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You are right man.
Summary:
In this video, the speaker discusses why the recent crypto market crash, also known as the crypto winter, is actually a positive development for the industry. He highlights the need to eliminate the noise, scams, and speculative behavior that have plagued the cryptocurrency space, focusing instead on building sustainable projects with real-world utility. The speaker emphasizes the importance of blockchain technology as the next iteration of the monetary system, capable of bringing about global change. He mentions specific projects within the Hive ecosystem that are working on building infrastructure, platforms, and applications with genuine use cases. Through this process of purification, the speaker argues that the industry can move beyond price speculation and focus on creating impactful solutions for the challenges facing the global financial system.
Detailed Article:
The speaker in this video provides a compelling argument for why the recent crypto market crash should be seen as a positive shift for the industry. He starts by criticizing the speculative and scam-ridden nature of the crypto space, attributing much of the chaos to various nefarious actors, such as price watchers, scam projects, and individuals like Justin Sun, whom he refers to as cancers hindering the progress of cryptocurrency.
He delves into the history of cryptocurrency, pointing out the problematic aspects of the ICO craze, rug pulls, and DeFi scams that have plagued the space for years. The speaker stresses that the focus on price speculation has overshadowed the true potential of blockchain technology and its revolutionary impact on the monetary system. He explains how blockchain, as a combination of accounting and communication systems, has the potential to replace existing financial systems like the shadow money system, wholesale banking system, and euro dollar system.
Furthermore, the speaker highlights the importance of real builders in the industry who are working on projects within the Hive ecosystem. He specifically mentions platforms like Hive Engine, LeoFinance, Actifit, and Splinterlands, which are focused on developing genuine use cases and infrastructure for blockchain technology. By emphasizing the role of builders and the necessity of quality projects over price speculation, the speaker advocates for a shift towards creating robust platforms with long-term value.
Additionally, the speaker touches upon the need for new governance models, such as decentralized autonomous organizations (DAOs), to enhance the governance structure within the blockchain space. He stresses the importance of building depth, liquidity, resiliency, and legitimate use cases for cryptocurrencies to truly advance the industry.
Overall, the speaker's discussion underscores the significance of moving beyond price-centric narratives and focusing on building sustainable projects that address fundamental issues within the global monetary and financial systems. By advocating for a shift towards genuine value creation and technological advancement, the speaker posits that the crypto winter presents an opportunity for the industry to mature and evolve towards a more meaningful and impactful future.
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.