Cryptocurrency: The Best Is Ahead Of Us

Consider this: change in a new phenomena for us.

Let that sink in for a moment. It is only recently that humanity, or individuals, had to deal with great change. For most of history, we had lives that were similar to our ancestors. Then, in the last few decades, we saw advancements that start us on the path that was different from our parents.

Think about how big that really is.

Of course, this is due to technological advancement. However, it is important to remember that it is just getting started. The pace which things are moving puts us on an exponential curve that is really going to accelerate things.

Therefore, we need to realize that, shortly, we will be living different lives every decade.

The smartphone and video streaming were two technologies that made the end of the 2010s much different from the same point in the 2000s. Phones were mostly still for talking in the previous decade. Over the course of ten years, suddenly a large percentage of people's lives were accessed via the smartphone.

Now put that on steroids to see where you are by the end of the 2020s.


Source

Programmable Money

Few look at cryptocurrency as a technology but that is exactly what it is. If we step back from the financial merry-go-round that is promoted by the media and all the casino players, we see something very revolutionary taking place.

Cryptocurrency is the technological advancement of one of the oldest analog systems in the world: money.

This is an enormous breakthrough because there is little in the world that is not touched by money. As they say, it is what makes the world go round. We are still resident in monetary system that determines many outcomes. Find anything substantial that doesn't have money tied to it somehow. It is the basis for most of our power struggles, technological advancement, and even what we think. Those with access to large sums of money are able to do incredible things, both good and bad.

We are heading towards a world where cryptocurrency is going to be ubiquitous. With the tokenization of everything, we will see the 2020s as the decade where it starts to penetrate every aspect of human life. There is still a lot of filling out which needs to be done but we are already headed down that road.

In five years, we will think the crypto industry of today was in the Stone Age.

The reason for this is consider any successful technology and look at how much progress is made in 5 generations. Each year we see cryptocurrency adding more as innovation and experimentation expands.

Our dance with programmable money is just beginning.

Private Money

By the end of this decade, a world without private money will seem very odd to us. Naturally, this is what we lived with throughout human history. However, as stated above, this is how each decade will be different from the one before.

Today, in most countries, we cannot imagine life without the smartphone. It is foreign to think what things were like before we walked around with "computers in our pockets". Yet, it was not that long ago.

CBDCs are starting to get a lot of attention. It is vital to remember the institutions looking at these are more than a decade behind. Bitcoin is now 12 years old. The release of that sprung a great deal of research that resulted in thousands of different platforms and tokens. Many, especially in the early days, went belly up. That is why we always need to look at this as a technology. In that arena, there are always early failures.

We know public money of this nature is coming. It is guaranteed to happen. We see the research being done. Yet, there is one problem these institutions have: time.

They tend to be very slow. Compared to the world of private money, they operate at a snail's pace. The Fed announced it will release its paper this Summer. In the time it takes them to do this, the private realm will simply spin up applications and release some code on the world. It is real-time experimentation.

Many fear the tug-o-war that they conjure up in their minds. While governments are known to exert control, they already lost this one. Simply put, they can not out tech the techies that are already involved in the cryptocurrency industry. This is a group, by the way, that is growing on a regular basis.

Each day, there are developers all over the world hacking away at code. Combined, they are creating one of the most complex systems we have developed as humans. This is going to be far bigger than the impact of the Internet, because as mentioned, it instantly touches most everything in our society. That is how powerful money is.

So while the centralized institutions are developing and following plans, the rest of the crypto world is going in thousands of different directions. One of the biggest benefits to blockchain is that anyone can build upon it. There is no permission required.

Hence, we have people all over the world bring forth ideas as it pertains to programmable money. Of course, these ideas are utilized not via protocols but, rather, applications. As those roll out, more people become engaged.

Look Ahead By Looking Back

A decade is a long time.

Think back to where this industry was in May of 2011. What tokens even existed at that time and are they still around today? We had Bitcoin and maybe a few others that drifted off into the sunset. Even Litecoin was still a number of months from going live.

Compare that to where things are today. We have tens of thousands of tokens all over the world. Even a site like Coinmaketcap have near 10K listed. We now have smart contracts, DeFi, NFTs, and a host of applications that allow access.

The big move underway is interoperability. Applications are trying to extend their reach and bring more utilization under their umbrellas. This will only enhance the experience that all users have.

Therefore, even if we duplicate what took place since 2011, we will see a totally transformed world when it comes to money. However, there is a great chance that will we see much greater advancement compared to what went before.

This is the exponential nature of what is happening.

Simply put, there is no going back. Just like we are not about to ditch our smartphones in favor of a call-only device, nor are we going to cancel streaming to head to a video store, the world without cryptocurrency is a memory.

We are on a technological curve that will place are in a much different world 10 years from now. At that time, many will have to think hard what life was like without programmable, private money.

It will be ubiquitous, just like the Internet is today for most people. Things will happen instantly with the velocity of money going through the roof. It will likely serve as a foundation for tremendous growth in other technological areas, further enhancing the pace society is moving at. All of this should show up in the economic output, although we new metrics are required.

So yes, for cryptocurrency, the best is definitely ahead of us.


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We are on a technological curve that will place are in a much different world 10 years from now.

On the move, may take a little longer before full implementation, in agreement with your logical though.

@tipu curate

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I am not following what you mean exactly. Would you state it another way?

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On the move, new technology seldom turns back to old, financial world already indicating shift.

Implementation, Much like credit card system it takes time. Visa card system started in 1958, only became popular in the 1990's when people understood/trusted more about computers. With Covid, people now tap the card in preference to touching key-pads, this took a 'pandemic' to move many. 1970's when we traveled each country had their own currency using traveler cheques, form of promissory note between banks. 1990's e-banking and start of digital banking.

Agreement, blockchain technology is going to change much in the world. Big changes started happening about 5 years ago in FinTech which encompasses everything you are saying.

People have always traveled, traded, used credit, new technology will allow for change in the way we do things going forward.

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@taskmaster4450 yes, it is a total revolution, just like the birth of the internet, and perhaps even more important. In the coming years, we will be able to see the end of banks, notaries, real estate brokers, and much more. The process may be more or less slow, but as you said, it is with no return. Going back to what it was before would be like stop using the wheel. A hug.

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The pace, I expect, will be accelerating. We are already such a high speed, compared to where we were just a few years ago, that is only going to increase. We will see how fast things unfold but I forecast the next 2 years will see more advancement than the last 5.

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Bang, I did it again... I just rehived your post!
Week 57 of my contest just started...you can now check the winners of the previous week!
!LUV
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Do you think private money will run on private blockchains as well? Or use the public ones (bitcoin, ethereum, etc.)? Or we'll have a mix of them?

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Private money is the money we see on public blockchains.

In this, public money = government while all else is private. I think we see the private on a mix of public and private blockchains. We will likely see some institutions (companies) put together tokens that are not ERC20 or whatver.

However, the ones that are out there, especially the big ones, are not going anywhere.

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If the next 4 years will be better for Hive than the last 4 then I'll be happy. But if we are heading for bottom of the barrel scraping territory that would be a massive disappointment after waiting for 3 year for Hive to actually be worth something

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I think its a good thing that private money takes so long to get things done. This means the crypto space has more time to develop more things. If hedge funds require years to decide whether or not to invest, it just means they would have to buy in higher off your hands in the future. Honestly I don't understand why we need a clearing house and for transactions to take 3 days to process anymore.

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Honestly I don't understand why we need a clearing house and for transactions to take 3 days to process anymore.

We dont. The entire SWIFT network is archaic. It is an old system that is still held onto for control. We are in the process of ripping a lot of stuff down.

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Simply put, there is no going back. Just like we are not about to ditch our smartphones in favour of a call-only device, nor are we going to cancel streaming to head to a video store, the world without cryptocurrency is a memory.

This is so true. The world never turns back to tech advancements. I've never thought of it on that angle.

The big move underway is interoperability.

I don't think I completely understand this part though?

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Interoperability- gives different cryptos/chains the ability to seamlessly communicate with each other in the sense that they can share inherent characteristics,for example, the ability to be able to use your hive to perform operations on Binance smart chain just like you will do with bnb, or bnb to work on Ethereum chain just like ethereum would. This makes all cryptos share a similar fundamental value as one, rather than being divided into factions where it is almost impossible to transact with different currencies on the same chain

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Honestly, over the course of just over three years that I have participated in the blockchain (writing and publishing my quality content)... I think I will never be able to be thankful enough for having an opportunity like this!

Such an inspiring post, @taskmaster4450.

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I am sure you would not have guessed 4 years ago there would be a time when you got paid, on a daily basis, for your writing. Yet here it is.

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You've got a point for sure - Thinking about the first smart phones (both Blackberry and the 1st gen iPhone) and they are barely anything like the ones we all use today. That took 15/20 years and has ran the gambit of changes both on the phones themselves, the development of apps, major modification of phone plans, etc.. It takes time for things to be accepted and change.

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There was also the added challenge of phone networks being built out and upgraded. That is also a major piece to the puzzle. We are seeing now 5G plus the next gen of 6G is in the works. We also see satellite operations like Starlink going up.

It is happening all over the place.

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Thats what I tell everyone! From now on I will just refer to this post.
My mom told me today that she is too old for this. And I told her what she could do on the blockchain and she got interested :)

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My mom told me today that she is too old for this.

Well unless one is planning to drop dead soon, this is unavoidable. It is like the Internet, not going away and will only become a larger part of our all lives.

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Thats what I told her :) I think she will find her way here soon :)

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As the oldest millineal, I can tell you that I have lived a different life every decade my whole life.

In fact, I lived two lives per decade for a little bit.

My next life begins in early June. I look forward to it.

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I agree there's so much people can do with crypto the advancements are only getting started so what some people got burnt I bet it's getting more demand with cheaper prices.

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The recent dip has already caused a great loss to many crypto enthusiasts. I see this opportunity as a good one to accumulate more coins on a truly non-custodial wallet like that of https://atomicwallet.io for the long term. With atomic wallet, I can easily stake a number of POS coins and earn passively.

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It is crazy to think the progress that has happened in such a short period. By 2030 it will be a completely different world.

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There is no doubt that things will be much different by 2030. Most of us cannot even imagine what is happening and the pace it is happening at. Crypto is a technology that will benefit from it also.

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I just wish hive could grow more also because it is just growing little by little and this isn't where it was in the last few years. That show it is still going with a steady pace

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I keep telling people that we are yet to see the biggest impacts that the internet has had on humanity, even if it stopped evolving, which it obviously would not do. Imagine that kids are increasingly able to see the lifestyles and communicate with people from around the world in high definition from an early age.

Then add new super money into the mix and it’s just exponential wow

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You are right. The internet is still in its teen stage. We are not really fully grown up with this thing. The last 25 years only brought us to the point of hitting puberty. We are going to see a great deal more advancement of it during the next 2 decades.

So yeah the impact of the internet and all that goes along with it is still ahead of us.

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A good thought.

And who knows what the evolution of Crypto will look like in a decade.

Rewind 10 years ago, and if you had taken a chance and spent a few dollars on some Bitcoins, by now you would be rather rich!

Fast forward 10 years and Crypto may have migrated from the Blockchain to a "new chain" or other such alternative.

Time is precious, but also a changer. And it's good to reflect on this every now and again.

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Without a doubt. There is some token out there right now which will have a Bitcoin-like return over the next decade. Thus, at that time, we will be writing if we invested in such and such a token 10 years ago, we would be rich today.

There are always opportunities; it is just a matter of finding them.

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How many of the powers that be do you think already know what you are saying here? I mean, to me it feels like everyone knows this is coming. They are just dragging their feet because either they don't want to believe it or they just want to hold it up as long as they can. Despite the belief, most politicians are relatively intelligent, so I have to believe they know this inevitable.

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Politicians tend to be clueless. They have the ability to present a case since most are lawyers but that tends to make them know it alls. As for others, many know but most do not. After all, look at all the CEOs that guided their companies right into bankruptcy court since they couldnt see what was taking place. It seemed like streaming was evident to everyone other than the people at Blockbuster.

It is evident to those who are open enough to seeing change. Those who are dependent upon the existing system will not only overlook what seem obvious but fight it. WE are seeing a lot of that.

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Okay, that makes sense. I guess things are just clearer to us because we are here in the trenches.

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I strongly believe that evolution in technology has led to evolution in finances, and although I have been tempted to pass my balance to Fiat, I feel that the crypto universe is far from reaching its true splendor. Thanks for your post.

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Can anyone explain to me the argument around criminals/Bitcoin?
For instance, ransomware/hackers are usually paid off in Bitcoin. Because of this many governments such as mine(USA) make an argument that Bitcoin empowers criminals.
But at the same time, critics of Bitcoin will often cite that every transaction is publicly viewable via the public ledger, and that this isn't good for privacy hence the need for Monero etc.

Obviously these two arguments seem to contradict each other. So how do the criminals who use ransomware get away with getting paid in Bitcoin? Do they transfer it to a private hard wallet and then move it back onto the chain before cashing it out into fiat or other currencies?

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We have the best technology in the world today in the form of cryptocurrency and blockchain technology. And every year there is some or other massive move/event/experience in the space that plays out like an adventure movie series with cliff hangers and drama every episode. Anything is possible now that entire nations and the biggest corporations in the world are involved in blockchain and crypto now.

Bitcoin will prove to be the last man standing in my opinion, if anything untoward were to happen. So my money is on the hero of the movie winning out in the end. He is bullet proof and anti fragile, with no way to be hacked or attacked. what a winner.

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