It is easy to get in the habit of looking at things and believing this is how they are going to be. The cryptocurrency and blockchain industry is still in its earliest stages. There are still a lot of holes in the foundation. Thus, we need to be careful of anointing something a success when it could be akin to Yahoo Search.
In this video I discuss some paths that crypto (digital assets) can take and some things we need to be on the look out for.
▶️ 3Speak
Definitely development is key to maintaining their lead over its competitors. However I think the bigger block chains end up having harder times making changes. There are just too many voices and conflicts of interest. Just take a look at ETH and you can see it. I honestly don't think ETH will get very far until they solve the underlying issue.
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The bigger they get, the harder it is to make changes, that is true. That is why I like Hive's approach. Get most of it off the base layer so there are few changes to make. Instead, put it at the second layer so people can do what they want.
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I agree with you on the fact that a lot of things can change within the crypto sphere in a short period. There are not certainties given the infancy of this sphere, so I am shocked when people think that certain blockchains are too big to fail based on their size now and the trust people have in those blockchain. It is with the same arrogance most people displace when talking about centralized financial systems.
Trust and size in a blockchain/crypto are things that can change quickly esp when these blockchains are not growing and developing the way they should. Development is key and it is the major lifeline of the hive blockchain. When things seem like they've reached a dead-end something new pops up and gets people exciting again.
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Well I would say that Bitcoin is fairly safe. That is not going to diminish is size anytime soon.
As for others, it depends upon use. If there is nothing taking place on the blockchains, they can whither and die. Sure a few nodes might still be running but there will be little interest.
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Technology and development is key to value. When I look around and I am not doing it with blinkers on either Leo kind of stands out above many other projects. I think this new bridge thing is that big and will add zero's onto the price in a short period of time.
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Development is taking place everywhere we look. That is the exponential part to all this. Once set of developments compounds with another set.
The totality of it all will be amazing.
I agree the LeoBridge is a great idea and can really put Leofinance on the map for much bigger things.
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You mentioned developers from underdeveloped countries where coding for blockchain projects can have life changing impacts on their personal finances. I'd say the same happens for content creators and as our Hive main token and second layer ones are taking off the revenue that one will get from content creation, at least for my country will be life changing. I can already see that on my own personal experience.
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That is awesome. Glad you brought that point up.
What is the rollout impact of that? As your life is changing, how many more is that affecting? Over time, will others close to you follow suit? Will you be able to change their lives?
All of it keeps growing as we keep active and forging ahead. This is not an overnight process but growth is taking place where hundreds of millions of people over the next few years can realize a much different life.
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Exactly, Yahoo Search is a good example of not being able to see around this corner coming up in world history these next few decades. Not that you can't still use Yahoo Search, but it is no longer the king of search engines.
What other things may not be the king in the future is a great question, that is why we should anticipate anything.
Trying to hone in on the future Blockbuster, Yahoo Search, and Kodak is vital. It is not easy to do.
Some companies will adapt, others die out. Trying to pinpoint the adapters is key. They will be part of the evolution going forward.
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I do try to buy adapters sometimes as you never know. I also prefer to have hardware which may have manual override switches, as in partially mechanical in a way.
In other words, I prefer a future where there is a hybrid of electronics clashed with mechanics because if something is hacking via remote access, backdoors, viruses, etc, into my computers, I want a simple lever, a switch, something I can press.
But back to the specific topic at hand, yeah, companies must adapt, looks like Atari and Sega try to do that. In some ways, each person is like a company meaning we all must try to adapt regardless of what happens to cryptocurrencies in the future.
Blockchain is a wonderful new technology, but you know what scares me. It's everyone's coveted because it's a way to bring in money, not just data technology.
Whether hackers or governments, everyone is trying to devour it and get the largest amount of wealth from it.
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I agree with you, everything can change from one moment to another, that's why platforms must keep investing in development and technology to grow and position themselves.
What is absolutely certain in crypto is that nothing is set in stone. There are so many disruption possibilities that we will see many switches of popular projects based on how much and how easy they disrupt their competition. No crypto project which sleeps on the laurels will do so for a long time.
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I think this applies to most industries today @gadrian.
However, in a very immature industry such as this, it is especially true. We have no idea where things will be in 5 years. After all, 2020 was DeFi, 2021 is NFTs, what else will show up over the next 3 years that we are not even talking about today?
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Yep, that's true.
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Awesome video @taskmaster4450. I totally agree with you that there is still so much to be done and so many niches to be touched and transformed by Blockchain Technology. The problem is that markets and prices of BTC make more noise than the tech behind it, which is understandable. But apart from Financial aspects, we should also touch base upon the the aspect that how this tech can replace the legacy systems in better way.
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Bitcoin only really has its price to make noise about since the technology is not that great. It is already dated. However, there is a lot of other technology coming out that will change things.
For most people, they dont care about tech just the products (apps) they use. Thus, it is up to the entrepreneurs to bridge the development with the users.
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