I just finished a three-hour phone conversation with a friend living in Sweden, which caused a slight delay in posting my first @leofinance blog of the day. During our catch-up, we discussed various topics, from him not being able to visit town to the joy of becoming a new parent to a one-month-old daughter. Eventually, our conversation veered toward the subject of crypto.
In late 2018, influenced by my own enthusiasm, he bought 10 ETH at a remarkable entry price of around $150. Looking back at ETH's incredible performance in 2021, it was indeed a steal. He held onto his investment until late 2020, selling all his ETH when it reached $400 per coin. While he made a profit, he missed out on the explosive growth that came later. To this day, whenever we discuss crypto, he still inquires about ETH.
As for me, my first foray into cryptocurrencies was with LTC. I purchased 10 of them at $50 per coin but decided to sell at $60 to avoid any losses. Little did I know that I was selling right before BTC embarked on its parabolic run in late 2017, soaring to about $4,000. My lack of understanding at the time prevented me from making life-changing profits. Unfortunately, history repeated itself in 2021, and I once again missed out on taking profits. Now, I'm heavily invested in crypto, relying on my Hive earnings, and it took two market cycles for me to learn my lesson.
While I can't confidently predict that BTC will reach $1.5 million anytime soon, as suggested by Cathie Wood, I do recognize that the crypto space has changed significantly. Since joining the crypto world, adoption of cryptocurrencies hasn't changed much, but the overall landscape certainly has. Notable figures like Larry Fink, CEO of BlackRock, who previously criticized crypto, are now acknowledging its value. Furthermore, a US presidential candidate openly contemplates backing the US dollar with Bitcoin if elected, signaling a transformative shift in the financial landscape.
The evolution of Hive, formerly Steem, is a prime example of how the space has progressed. In the early days, we were merely a group of enthusiasts posting long-form content on the blockchain. Today, Hive has blossomed into a thriving community, encompassing diverse activities and content, including @3speak shorts, @liketu, and @leofinance threads.
HBD savings is yet another game-changer. @lazy-panda serves as a testament to its potential, effortlessly earning HBD as a millionaire, generating an impressive 20% APY on his stake.
Though we haven't entirely moved beyond the speculative era in crypto, applied use cases are becoming more evident. Countries like El Salvador have adopted Bitcoin as legal tender, while individuals in inflation-hit regions, such as Argentina, are turning to crypto to safeguard their wealth and facilitate cross-border transactions. While Bitcoin's valuation has surged tenfold since my entry into the market, overall adoption hasn't experienced a comparable surge. However, certain projects, like Hive, remain undervalued yet have witnessed significant growth in adoption over the past six years.
While crypto hasn't yet reached full disruptive adoption, the stage is being set as the world inches towards a restrictive digital prison. Recent events, such as Meta's declining user base due to stringent policies and technical challenges, are pushing the masses to explore alternative solutions.
In conclusion, we find ourselves still in the early stages of the adoption curve. While I may not foresee a $1.5 million BTC anytime soon, I firmly believe the adoption curve is about to take a steep upward turn. The world is shifting, and the need for crypto-based solutions will only grow stronger. What are your thoughts on the matter?
Thanks for your attention,
Adrian
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Good ole Litecoin. It was many people's first coin. Thanks for the memories.
Yep. If I remember correctly LTC was @bozz first crypto as well.
Indeed Ace, Hive and socfi or tokenized social media are ahead of the curve and it is only a matter of time before the herd find out and jump on board.
I couldn't agree more with your assessment of the current state of the crypto market and its potential for adoption. Indeed, while we have witnessed incredible growth in the valuation of cryptocurrencies like Bitcoin, true widespread adoption is still in its early stages. However, the signs of progress are becoming more evident.
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