~~~ embed:https://ipfs-3speak.b-cdn.net/ipfs/bafkreibv6z5vnu5snnj52adrewoa72wntihryubiqwky4pogtat42o2o7u/ threespeak ~~~
The bear market is tough on everyone involved. However, we are now seeing some of the positives when things are cleared out.
In this video I discuss how, in spite of the pain our wallets are feeling, we are entering the Age of Abundance. There are going to be hundreds of trillions in crypto value over the next 10-15 years. Right now we are losing projects that were not resilient or had much value outside the token manipulation.
This causes a lot of confusion during the bull. With the cleansing, we see choices getting limited. However, those projects that have serious development are going to stand out in the long run. For those who take this perspective, and pile into the right projects, they will find that some of their holdings are major winners.
The bear is the time to build.
▶️ 3Speak
The current popular talk about the bear market reminds me of this old quote:
Of course, Mises wrote that statement criticizing the increase in the money supply without the corresponding increase in production.
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Yeah they also didnt take into account globalization along with digitization.
That totally changed things.
But a cleansing from economic contraction is healthy. People despise it yet it is needed.
Been a long time since we allowed for the forces of the market to operate as they should.
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The irony is that the free market is blamed for such contraction calling for authorities to regulate the market even more.
Yeah it’s good to trim the fat when it comes to crypto projects! The ones who were just stealing peoples money without really doing anything are the ones who have gotten demolished. I think that’s a good thing because it leaves the best fruit behind.
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More than just stealing people's money. Many had good intentions of building a business but were sucking up resources that could have been better served by working on non-failures.
Tech is tough. Projects are going to fail for a variety of reasons. The ones that survive will be stronger.
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Great perspective and I agree 100% about Splinterlands and your viewpoint. Getting your psyche correct is so vital to investing effectively in the long run.
!PIZZA
!PGM
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Splinterlands is a case example for so much that is going on. Those guys are doing what they need to.
That is what most should follow.
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I love the game, but their development speed since chaos legion launch, without even considering the insane growth in employees, is attrocious compared to time between when I joined in Aug to chaos legion, with a skeleton crew. They need to make account upgrades as sinks for DEC, SPS, and VOUCHERS also, limited time only buyable during 30 days, then never buyable again, holiday events, they need new permanent in game items added once a month at first, moving into biweekly or weekly individual potion or equipment/buff introduced. all this new class of buffs, can be either temporary or peremanent, but all MUST be soulbound and untradable, and also MUST in some cases permanently add value to various income earning aspects of the game, or reducing certain costs for players. In this way, real players will always be incentivized to spend the earned crypto to upgrade and gain permanent boost, while bots will be forced to either forgo the investment and move forward at a disadvantage to real humans who continually invested, or do as the team wants, consolidate and do upgrades on say 5 or 10 accounts and eventually centralize. What do you think about that idea?
I honestly do not follow it close enough to know the details of what you are proposing. For me, the view is from 5,000 feet, that is all.
My playing of the game is rather minimal so I cant even comment on the latest move.
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Many fine points here. They have very few sinks for their in-game assets, and geared toward the top investors. Very interested to see what happens to all the prices when the airdrop is over. Fingers crossed, as I am over-extended in SPS.
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I think Jon was talking about noise.cash and how it could have been something good. However, it looks like the development stopped and the policy changes started pushing people off.
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Yeah the development stopped and I guess the whales stopped paying out.
It was funded by the big fish, something that wasnt going to last forever.
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Sorry, out of BEER, please retry later...
If it can survive the bear... It's a good chance at higher profits during the bull run.
This Bear market has caused a good cleaning so when the Bull market begins we must be prepared to grow our portfolios in a short time
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Summary:
In this video, the speaker emphasizes the importance of maintaining an optimistic attitude even during a bear market. He discusses how bear markets are beneficial for the crypto industry as they eliminate weaker projects, allowing stronger ones to thrive. The speaker uses Splinterlands as an example of a project that excelled during a bear market due to its steady development. He highlights the significance of focusing on projects with solid foundations and utility rather than just tokenomics. Furthermore, he expresses his optimism for the future of cryptocurrency, predicting a significant increase in wealth generation through advancements in web 3.0, web 4.0, and the metaverse.
Detailed Article:
The speaker starts by explaining his optimistic outlook during bear markets, stating that they serve as a cleansing process for the market by removing weaker projects and excess. He mentions Splinterlands as a prime example of a project that thrived during a bear market due to continuous development efforts. Despite the current market downturn affecting token prices, he believes that solid projects like Splinterlands will endure and grow stronger.
The speaker then delves into the importance of distinguishing between projects with substantial utility and those solely focused on tokenomics. He points out the flaws in projects that lack a viable business plan beyond token price manipulation and highlights the value of investing time in legitimate projects with a clear vision.
Moving forward, the speaker shifts focus to the future of cryptocurrency, emphasizing the potential for immense wealth generation in the coming years. He predicts a significant increase in wealth creation through advancements in technologies like web 3.0, web 4.0, and the metaverse. Drawing parallels to established tech giants like Facebook, Google, and Amazon, he suggests that the value generated by the crypto industry will far surpass that of traditional internet-based companies.
Moreover, the speaker discusses the disruptive nature of cryptocurrency in various sectors, such as cross-border payments, loyalty programs, and gaming. He envisions a future where tokenization enables access to trillions of dollars in value through innovative applications and systems, creating new opportunities for wealth generation.
In conclusion, the speaker encourages viewers to adopt a long-term perspective and invest in projects with solid foundations for sustained growth. He expresses confidence in the potential of projects on platforms like Hive, believing that they hold promise for long-term success. The speaker's overarching message suggests that despite current market challenges, the future of cryptocurrency holds vast potential for wealth creation and innovation.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.