Things Are Really Starting To Happen Within Crypto

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(Edited)

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No this is not a video about the price of tokens nor the market cap crossing $1 trillion. That is all well and good, people are making money.

However, we are seeing a lot of activity on a daily basis within the industry itself. There is a lot of "bridges" being built. This means that the industry is starting to mature.

In this video I discuss some of the things we are seeing progress in, such as DEX and other aspects of decentralization.


▶️ 3Speak



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I think the biggest reason why there is so much development is because the dollar is starting to fail. With the mass printing of dollars, plenty of people want something outside this system. Because of the money being inserted into crypto, people develop projects and the cycle repeats. I think the governments have realized that they can't avoid crypto and thus the fears of crypto are starting to lower.

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Yeah there are new bridge's being made as crypto influence grow

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Yeah things are really starting to heat up... but the craziest part is we've barely taken the first step. DLT is a scaling solution for society that has x1000 the potential of any technology I can think of, including the Internet itself. You can't really put a price-tag on trust, truth, and honor.

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I would agree completely. If you put a $30-$40 trillion price tag on the Internet in value, that will be far eclipsed by cryptocurrency and blockchain. We are going to see trillions of dollars in transactions done on DLTs at some point on a daily basis.

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NFTs alone are going to fuel one of these bull runs...
probably the next one in 4-5 years if I had to guess.

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Decentralized exchanges is one of the greatest intervention of technological advancement and stability in the cryptospace. Decentralization has definitely taking over the lead of centralized economy and this can never be nipped in the bud as major banks and financial institutions are seeing the need to usurp the decentralized platform to boost their countries economy and grow their financial worth. As said, If the US bank follow suit then other allied banks and financial institutions will definitely see no need to ignore this intervention. Cryptocurrency is definitely the major hit in town at the moment. Thanks for the facts and enlightenment @taskmaster4450

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Banks were on a downward path anyway. FinTech was killing them taking over things such as the mortgage origination market.

Now they have the likes of Facebook and others to content with as they get into payment systems, and who knows what else.

It is not a rosy future for the banking industry as it stands.

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That's very true, it's not really a rosy one for them. Once blockchain technology fully takes over the central banking system, many of their staff workers will be at stake of losing their job.

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Have you read or heard much about FIO? It is a project that Luke Stokes started to give easier addresses to people for sending and receiving crypto. Not a huge deal to us over here in Hive land, but for the other chains out there it could be a really big deal. The statistics and failed or erroneous transfers due to a typo or mistake in public keys are scary.

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No I havent really followed Luke since he basically dumped on Hive. He shows up once in a while to post about what is going on and still collects witness votes but he is not dedicated to this place. That is his passion and it is fine, just people need to stop supporting those who are no longer here for the most part.

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Summary:
In this video, the speaker discusses the cryptocurrency industry beyond price runs, emphasizing the significance of developments behind the scenes. The speaker mentions the potential for Bitcoin to outperform gold and the evolving role of Bitcoin in the financial sector, particularly in collateralization. Additionally, the speaker highlights the acceptance of cryptocurrencies in the mainstream financial industry, the emergence of decentralized exchanges, and the ongoing innovation in the DeFi sector. The video concludes with a note on the continuous development in the cryptocurrency space and the influx of investments.

Detailed Article:
The speaker initiates the video by addressing the current hype around cryptocurrencies, noting the recent all-time highs of Bitcoin and the surge in Ethereum's value. However, he cautions viewers about the volatile nature of cryptocurrency prices, advising them to consider both the upside potential and the risks involved. The speaker then shifts the focus to the underlying developments within the cryptocurrency industry, emphasizing the growing role of Bitcoin in the financial landscape.

One key point mentioned is the argument for Bitcoin outperforming gold, supported by technological advancements and demographic shifts. The speaker highlights the importance of looking beyond Bitcoin's price and focusing on its potential applications in collateralization. By collateralizing assets like Bitcoin, which are easily transferrable and securely stored, there is a significant opportunity for leveraging Bitcoin's value in the financial realm.

Moreover, the discussion touches on the decentralization aspect of cryptocurrencies, with a particular mention of the Office of the Comptroller of the Currency (OCC) permitting banks to utilize decentralized blockchains for value transfers, potentially challenging traditional systems like the SWIFT network. This move indicates a broader acceptance of blockchain technology in mainstream finance, paving the way for innovative financial solutions.

The speaker also delves into the evolving landscape of decentralized exchanges, noting the necessity for platforms that are resistant to shutdowns and regulatory pressures. The emergence of new decentralized exchange models, operating on distributed nodes and with diversified access points, reflects a trend towards increased resilience and autonomy in the cryptocurrency ecosystem.

Additionally, the speaker emphasizes the ongoing development and collaboration within the cryptocurrency space, drawing parallels to the early stages of the internet's evolution. He highlights the importance of learning from failures to drive progress and innovation in the industry. The video concludes with a positive outlook on the future of cryptocurrencies, emphasizing the influx of capital and the prospects for sustained growth and development in the sector.

Overall, the video offers insightful commentary on the evolving dynamics of the cryptocurrency industry, emphasizing the potential for transformative changes in finance and the increasing integration of blockchain technology into traditional systems.

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