No Speculation, No Crypto? .:. Late Night Blogging
First of all, it's nice to come back from the holidays... 😃 Secondly, the inspiration for this post was the latest Liotes mission, where we asked the community to share their views about the future of crypto... If you check out the link I shared, don't forget to check out the comment section, as that's the best part of it, and don't forget to leave your opinion on the topic!
Created on Canva.com, using my photo as a background
A couple of comments were talking about the "speculative" part of crypto...
- The future is unknown. But everyone I know who talks crypto just wants to get rich. :)
- New opportunities for financial services to make more money.🤑🤑🤑
- Its pretty simple - money! Right now, the majority of the world sees it simply as BTC = $$$.
- It’s hard to say for sure, but I think the heyday of crypto is over. Maybe even BTC won’t grow any further, but as I said, that’s just speculation.
- hard to tell people have been sceptic about crypto since day one , a lot of people have made money and probably the same amount of people lost money .
To be crystal clear... I'm aware that the bear markets are messing up with our brains, trying to find an issue where there is no one, but... In these times, it's important to find that "straw" to hang on, or rock to climb on... It's not easy to keep positive spirits in hard times, and the "speculative thesis" doesn't work in these times, as it always looks like the price will not recover ever! While that could be true, in most cases it's not... Maybe not for all, but the price could go up for many...
But, let's just stop for the moment and forget about the price... We need something MORE... The thing is that there is no way we will have dozens (or hundreds) of cryptos that would be used for payments... You can't launch a token and "hope" for the best... You need MORE, your token has to have MORE value beyond the price...
I truly believe that we will have many different cryptos and blockchains that will perform very well in the medium/long term, thanks to their architecture, to their powerful underlying blockchains... Bitcoin was launched as an idea of a future peer-to-peer money, but a lot of other tokens aren't, and they shouldn't be! Blockchain tech is much more valuable than a simple price tag on it...
I see that many people tend to forget about some REAL values of the HIVE blockchain, the core infrastructure, and the possibilities of building on top of it... I mean, when you hold the token, the price is important, but if you BUILD on top of the chain, is the price that important much?
I had an interesting conversation on this topic today... Imagine building an app on HIVE, where you have your own token tied to it... You are using the chain to write data, to host users' wallets, and for who knows what more... But, as you have your own tokenomics (for your own token), for you, it doesn't matter how HIVE will perform... On the other side, your users would have to have a HIVE account, which already gives value to the chain itself... If they have to transact on the HIVE, they will need HivePower, so there goes another value to the chain...
What's the point of this example... My point is that despite the "bad" HIVE price action, that shouldn't demotivate you to BUILD something on HIVE... If you have a good idea and the way to monetize it, you can always do it without relying on HIVE price or other cryptocurrencies! It sounds hard, but there are already numerous examples out there of similar things happening on other blockchains...
What do you think? Is there any value in crypto behind the pure speculation of the number going up? Let me know in the comments section. I would like to find more than one rock to build the castle!
Thank you for your time.
--ph--
None of this is financial advice!!!
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The BTC maxis are mostly bullish about BTC but the truth is that if we have only BTC, then it defeats the essence of crypto. Crypto should build apps, Blockchain and tech, I understand that most times the coins don't pump as BTC, but crypto should be about pump and dump alone.
This is why no one is happy when it's only BTC pumping: because 98% of people are vested in other functional projects.
I do like BTC and I do hold some, but beyond scarcity and the network, it doesn't offer too much to work around... On the other side, you said it's true, when BTC goes down, the rest go down as well...
But, I also have to say that I did notice certain tokens being more resilient to BTC fluctuations, and that's very good news! We need more of those... Individual, good tokenomics can make that possible... 😉
Hmm I think it's a question of time and other alternatives as well. I have known friends who stopped playing Splinterlands and writing on Hive because they have moved on to something more "profitable" or something more worthwhile for their time. Like maybe they are willing to spending a few hours to earn 50 bucks on Hive, but if it's 5 bucks now, they rather spend the time playing with the kids. I guess my point is, the price of Hive will always be a factor (even if it's not really the case of me, because I am still here haha), because we only have 24 hours a day and we choose the best way we want to spend it.
Of course! Priorities are important! If you don't have fun playing Splinterlands, you should stop doing it... It goes the same for our "ordinary jobs"... If you don't like your job, you should change it ASAP! There is no money worth more than happiness and health... ;)
😎
When I first listened to a colleague who told me about crypto, apart from the possibility of earning money, as crypto is adopted, I liked the idea of ​​freedom even more.
In unsightly jeans, sneakers and a hooded sweatshirt, with only about a hundred dollars in my wallet, i.e. only as much paper as I need for a couple of days, I can pass customs control on the other side of the border, a seed phrase that I can remember in my head, upload it to a new hard wallet and have my money with me, without fear that customs will think I have them and can find them.
That's a very nice thought, which will stay as a dream for Bitcoin... 😃 Luckily, we have other options that could be used for payments... 😃
I have to admit that I had the same point of view as you... Finally, an alternative for banks, PayPal, Skrill, and all other "blackmail" companies... There are scams in crypto, but with those guys, I never felt my money was safe with them!
You know what I find most interesting about crypto?
When I look at this digital world, which I’ve been following since the beginning—first the internet, then HTML, then websites, then social media, then crypto, then smartphones, and now AI—crypto is the only thing where divergence, or rather a general, imperceptible shift toward mainstream adoption, hasn’t happened. For everything else listed, it happened quickly or within a very foreseeable time frame.
That's a very interesting observation! I suppose the mainstream adoption didn't happen "fast" due to a huge pushback by those in charge (until they found the way to monetize it)...
The other examples you said were easier to understand, to grasp, and to monetize... When money is involved, some nice fees, everything happens much faster... 😃
Crypto has still a lot of stigma, if you go around here talking about crypto scam is the first word it comes on people mind... I don't know feels like crypto lost it's momentum in 2020-2021 and now has become a niche thing, at least until economy sorts out
It lost momentum, but that happened multiple times in the past... In the same way, it could gain momentum any time in the future... Hopefully, with some additional values in the hotspot, and not memes, or pure price speculation... 😃
I totally agree that the value of blockchain technology itself is what will drive its long-term success.
I suppose it's on us to present those values to people who don't see beyond the speculative side... 😉
I think crypto speculation will always be there, but I think crypto is here to stay. There are quite a few different cryptos with actual value behind it, but I think there are also issues with each project. On Hive, that is probably the DHF but I do agree that what Hive offers is amazing.
You are right... There is a lot of value in cryptos, but there are also issues... Some bigger, some smaller, hopefully manageable to fix...
Speculation is the engine of this world, like it or not. Without risk there is no paradise, and in the crypto world he who does not move, stays behind. Tremendous reflection
Speculation is a "starter", and healthy economics can be the engine... 😃
You are right about the motivation behind crypto being money related. But, come to think of it, who doesn't want to get rich?
I suppose the majority wants to be rich, but only a few manage to do it by speculation, gambling, and similar... The rest do it by smart moves and/or hard work... 😉
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