Warning: Do Not Confuse The Crypto Markets With The Industry
There are going to be failures. This is true with any industry. At the sam etime, markets will do what they do.
In this video I want to discuss how important it is NOT to fall prey to having your outlook of the industry based upon either what the markets do or what fails. This is all part of the process.
After all, the early days of the Internet not only saw the dot com bubble but also its share of failures. Yet, the entire time, the progress of the Internet proceeded fowrard.
▶️ 3Speak
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Regardless of what happens in the markets, HIVE will still be here when all the smoke clears. This community ain't going nowhere.
Every new aspect in our life has its adaptation process and Cryptocurrencies do not run away from it. So while the markets adapt we must try with low amounts of money
We need to get rid of the failures so new businesses can take their place. Now I wonder if the zombie corporations in real-life would also go away. It just seems to be propped up by the government.
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Summary:
In this episode, Task emphasizes the importance of not being swayed by market sentiment when it comes to judging the long-term progress of the cryptocurrency industry. He draws parallels between the current state of cryptocurrencies and the early days of the internet, highlighting that just like how various internet companies failed but the technology continued to evolve, cryptocurrency projects might fail, but the industry will persist. Task advises against seeking validation from the market and urges viewers to base their decisions on research and analysis. He asserts that market downturns expose weaknesses in the industry, leading to a healthy cleanse that paves the way for new opportunities to emerge.
Detailed Article:
Task opens the video by addressing the prevailing negativity surrounding the cryptocurrency market. He acknowledges the validity of concerns amid tough economic times but cautions against prematurely judging the industry's future based on short-term market fluctuations. Drawing parallels with the internet's evolution, Task highlights how despite the dot-com bust and failures of companies like Ask Jeeves and Webvan, the internet technology continued to progress steadily.
He stresses the importance of not relying on market validation for investment decisions and encourages viewers to conduct thorough research and analysis. Task discusses the inevitability of failures in the cryptocurrency space, stating that companies and projects failing is a natural part of the industry's development. He asserts that while market downturns can be unsettling, they serve to weed out inefficiencies and pave the way for stronger projects to emerge.
Task addresses specific concerns such as Coinbase laying off employees and Cellulis restricting withdrawals, reassuring viewers that industry setbacks do not signal the demise of cryptocurrencies. He emphasizes that despite market turmoil, developers, entrepreneurs, and investors are continuously working on building and innovating within the industry.
Using Amazon's stock journey as an example, Task illustrates the volatility and uncertainty that comes with investing in emerging industries. He highlights the potential for significant returns in the cryptocurrency space due to its early-stage development, likening the current infrastructure to the first web browsers and search engines.
In conclusion, Task reiterates the resilience of the cryptocurrency industry and urges viewers to remain focused on long-term goals while weathering short-term challenges. He instills confidence in the industry's ability to continue evolving and advancing despite temporary setbacks, ultimately encouraging viewers to maintain a positive outlook and stay informed about industry developments.