Incremental Progress In Crypto Is Really Showing Huge Progress
It is very exciting to see what is happening. Each day there are articles discussing the incremental progress that we are seeing in the crypto world.
In this video I discuss how, on its own, there is nothing over the top about the progress being made. However, when we look at things collectively, we see major moves forward.
▶️ 3Speak
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Это отлично что в России законодатели осознали что криминализация биткойна не приведёт ни к чему хорошему
Summary:
In this video, Task discusses the concept of incremental progress within the blockchain and cryptocurrency space. He mentions the S-curve of technology adoption, pointing out that while there has been significant progress in the industry, there are also areas where progress seems stagnant. Task highlights developments in the cryptocurrency space such as high transaction volumes in Ethereum, regulatory changes, and increasing interest from banks and institutions in cryptocurrencies. He also touches on projects within the Hive ecosystem, like Dappler, Splinterlands, Crypto Brewmaster, and Exode, showcasing the growth and potential in decentralized applications. Task emphasizes the importance of looking beyond token prices and focusing on the underlying technology and innovations in the blockchain space, mentioning trends like artificial intelligence, digital identities, internet of things, and metaverses as key areas for future development.
Detailed Article:
The video delves into the theme of incremental progress in the blockchain and cryptocurrency realm as highlighted by Task. He starts by referencing the S-curve of technology adoption, illustrating how technologies evolve from being new and expensive to reaching a point of mass adoption. Task draws parallels between this curve and the current state of blockchain and cryptocurrency, where significant advancements are being made in various aspects, yet there are areas where progress appears to be slow.
Task points out notable developments, such as Russia's reconsideration of banning Bitcoin, indicating a positive shift in regulatory attitudes towards cryptocurrencies. Additionally, the news that banks can now serve as custodians for cryptocurrencies raises mixed feelings, reflecting the ongoing debate between convenience and the fundamental ethos of decentralization.
The topic of increasing institutional interest in cryptocurrencies emerges, with reports indicating banks quietly acquiring Bitcoin and other cryptocurrencies. While this signals growing acceptance and integration of digital assets into traditional financial systems, Task remains cautious about trusting banks with custody of assets, highlighting the importance of controlling one's private keys.
The narrative transitions to the cryptocurrency space, with Task highlighting Ethereum's surging transaction volumes surpassing Bitcoin, driven largely by the DeFi sector. He praises the rapid growth and potential of decentralized finance, exemplified by the exponential rise in DeFi's total value locked. Task accentuates the significance of incremental progress in various projects within the Hive ecosystem, like Dappler, Splinterlands, Crypto Brewmaster, Exode, and art marketplaces facilitated by NFTs.
Moreover, Task propels the audience to look beyond short-term price fluctuations and embrace the underlying technology's potential in areas like artificial intelligence, digital identities, Internet of Things, quantum computing, and metaverses. He encourages viewers to envision how these technologies will shape the future and intertwine with the advancements witnessed in the blockchain and cryptocurrency space today. By recognizing these broader trends and developments, Task underscores the importance of embracing a broader perspective towards the long-term growth and innovation within the industry.