I like to clarify things at the beginning... I'm not an economist, or a financial expert, nor an advisor... I'm just a guy who is interested in blockchain tech, cryptocurrencies, and decentralization... Learning stuff from the Internet, attending some conferences about those topics, and taking action in the "space"...
The most important thing that I have learned in these 5-6 years is that blockchain technology isn't just another screw in a wheel, but rather a "next wheel"... It's something revolutionary and is changing the world at the moment and will change it even more in the future...
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The process of "getting out there" was painful and "those in power" have tried numerous times to stop Bitcoin and the whole blockchain movement... Maybe 2-3 years ago, they realized that it's impossible to stop something that powerful and they have applied different strategies to push the breaks on crypto...
For example, one of the "reasons" why cryptocurrencies are bad is hardware mining as part of the PoW (Proof Of Work) concept... The "climate changes" are a trending topic and they have used it to ride the wave in tryouts to kill crypto...
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Of course, those things didn't go through and cryptocurrencies (mostly Bitcoin) have entered into traditional investing and their balance sheets... That's what we have wanted, isn't it? Yes, and no... :) Here on HIVE, we have a lot of great authors that are doing their best to EDUCATE people about cryptocurrencies... We shouldn't forget the main point of cryptocurrencies and blockchain tech... It's not just another screw...
After today's 8-minute talk by FED Chairman, Jerome Powell, the markets went crazy... His statement was like any other political statement where they say things, but in the end, they don't say anything new... It was the same today... But, markets responded...
Now, all that isn't a surprise as it has happened before a lot of times in traditional markets... Now, with crypto, we would expect a different thing, but, as the same players are sitting on both sides, the results are the same... the reaction is the same...
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In my opinion, we had the problem that the importance and DIFFERENCE between traditional assets and Bitcoin (for example) are diluted... If we look in the nutshell, Bitcoin is the complete opposite of traditional assets... It should be a cure for inflation... You can't put USD and BITCOIN in the same basket?!?! On one side, you have a heavily inflatable asset, and on the other side asset with a strictly limited supply...
But, everything is possible in our upside-down world... The mainstream narrative is pushing the REAL VALUE of cryptocurrencies in the background, burying it deep into the ground... Trying to mix apples and oranges, to create confusion... As usually, bread and circuses strategy always works... Speculators don't care about reading the small print, researching cryptocurrencies, and considering them like just other assets...
That works in a short term, as people like to follow, FUD... But, in a long term, quality, technology, transparency, decentralization, and the real purpose will come to the surface... As Bitcoin isn't just another asset...
Thank you for your valuable time,
~ph~
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The next phase of money is digital even tho the world still doesn't see the point of it yet, we'll come to realize that it's one of the best things that ever happened to mankind just like our smartphones and the internet.
Cryptocurrency is here to make the world of an average Joe better.
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I agree with you, but not all "digital money" will be placed on the blockchain, nor it will be transparent, decentralized, etc... We have to keep our eyes wide open and don't be tricked to use some new shitty currency that elites will push on us 100%...
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Bitcoin is definitely not another asset
It's a tool that will cause massive changes in future.
It is a very influential cryptocurrency.
Indeed! And I hope that it will stay like that as it's our only way out from this lunatic situation... ;)
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Manipulation is associated with any asset, Bitcoin as well. But there is a background sea in the crypto market, its technology, which will make fiat win the game.
I bet that 99% of people who heard about Bitcoin and cryptocurrencies have no idea WHY it's different than traditional currencies... That's worrying...
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I would not say that BTC is the solution to inflation. After all, inflation isn't the issue but rather wages not keeping up with price increases are the issue. So in a way, I don't think BTC can solve this issue either.
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You have just defined inflation in your sentence... 😀 "price increases are the issue" :) That's inflation... :)
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That's why maybe we shouldn't wish Hive to grow too much too fast. The bigger it is, the more likely it is to draw the attention of similar sharks as the ones that now control (the price of) bitcoin, and through it the crypto market.
I could agree with you, but also, disagree... To be honest, I think that some of the whales on the Hive are doing exactly that for years... Our "Hive sharks" like to be "big players" in a small pond... 😃
Yes, steady and slow growth is great, but HIVE can grow more and it still can be "steady"... I wouldn't keep HIVE under the water, but just let it go... It will not be like BTC, ETH, or some other big chain, that's for sure, and that's completely fine...
Anyways, I'm not concerned a lot about HIVE, nor people who want to keep it underground... It is a too-good blockchain and it can't die whatever some people are doing...
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You have a point. The way things go with our whales' stakes growing faster than everyone else's (which makes sense because they know how to increase their stakes and are focused on that, while many others are not), we might have started more decentralized than we end up. And the whales seem to enjoy this situation, instead of opening Hive more to the outside.
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