Cryptocurrency is maturing. No longer is it just about the "casino" mentality. We are now seeing the foundation being applied that will actually attract true investors and capital.
In this video I discuss how the "greater fool theory" prevailed in crypto since it started. While there was a lot of money to be made, most of it depended upon the idea of someone else paying a higher price. Cryptocurrency is now transitioning to where that is no longer the case. Here we discuss this and how Hive can have a major part to play.
▶️ 3Speak
I must commend the honesty in this video. Hardly does one find people who admit to the speculative nature of cryptocurrency.
About polycub and hive bonds. I think I can see the vision of polycub (it is really a setup from cubdefi) and I want to believe it will work in the long run if polycub achieves some level of stability and influx of liquidity.
crypto needs more use-cases. We need to get out of this speculative bubble and start creating things people want to use and investment opportunities that are safe. I wrote about this in one of my recent posts
Posted Using LeoFinance Beta
We are already doing this. For example this is what Hive Dollars (HBD) is doing. It is a (more or less) stablecoin, and the 12% APR interest on savings is much better than what banks can offer nowadays.
Yeah, true that. When I said 'we' I was speaking about the crypto sphere general. Hive is far advanced than most of the projects that exists in the crypto sphere.
Posted using LeoFinance Mobile
Yes use cases is vital. That is why Hive is so promising. We are doing a lot of building.
Posted Using LeoFinance Beta
Another option is to get a loan either from a relative or friend and offer them a higher than "market" interest rate and deposit the loan money into the savings account. Pay them back the interest you owe them and keep the difference :)
Posted Using LeoFinance Beta
This is great. It no longer a casino. It just investing, lime savings account.
View or trade
BEER.Hey @taskmaster4450, here is a little bit of
BEERfrom @pixresteemer for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.Hello, very good information for the community. Thanks.👌
Hi @taskmaster4450, you just received an upvote from @gotgame on behalf of https://hypeturf.io.
Hypeturf is HIVE frontend built by @gotgame where you can earn rewards on Hive by creating engaging content and commenting on posts.
The yield on the traditional financial system is severely lacking but that is to be expected when the interest rates have been dropping for years until the pandemic happened. Even after interest rates went up, banks aren't in any rush to give people better offers either so stable coin yields on crypto is definitely the best choice people have.
Posted Using LeoFinance Beta
But some countries like India is going to impose 30% tax which is used to be for some lottery winners or for the gambling money in casinos or horse race. So, still the the path is not smooth everywhere, some countries are not aware at all about the new technology, they only know it's a bad thing and banning is their only reaction to crypto. Hope the evolution will bring everything in the right tract.
Agree with you, hive is promising and you guys really doing a great job here. I'm learning everyday. Thank you for supporting 🥰
Summary:
In this video, the speaker discusses the evolution of cryptocurrency and a shift from speculative investments to more sustainable and utility-driven projects within the crypto space. He emphasizes the importance of moving away from pure speculation and focusing on projects that offer long-term value and sustainable returns. The speaker mentions projects like PolyCub as an example of attempting to provide sustenance in the DeFi space. He talks about the need for stable coins and low-risk investments in cryptocurrency to attract more mainstream investors and capital. The speaker also touches on the concept of fixed income investments within the crypto world and the potential they hold for pulling in more traditional investors.
Detailed Article:
The video delves into the current state of the cryptocurrency market, pointing out the prevalent speculative nature that has dominated the space for years. The speaker highlights how most cryptocurrency investments have been centered around speculation, with a focus on quick gains and high-risk projects driven by the greater fool theory. He discusses how this speculative environment has characterized even major cryptocurrencies like Bitcoin and Ethereum, labeling the space as akin to a casino.
Moreover, the speaker introduces a shift towards projects that offer actual utility and sustainability within the crypto market. He mentions PolyCub as a project that aims to provide sustenance in the DeFi sector, moving away from the trend of high APRs followed by rapid declines. The discussion revolves around the importance of projects like PolyCub in offering long-term, stable returns to investors, akin to traditional investment avenues like dividend stocks.
The speaker introduces the concept of fixed income investments within the cryptocurrency space, highlighting initiatives like the Hive Savings Program, which offer fixed returns on investments. He emphasizes the significance of stable coins and low-risk investments in attracting mainstream investors to the crypto market. The speaker envisions a transition in the crypto market towards more sustainable and financially sound projects that can offer reliable returns over time.
Furthermore, the video touches on the idea of appealing to a wider audience, including traditional investors, by offering stable and low-risk investment opportunities in the crypto space. The speaker expresses optimism about the potential for projects like PolyCub and stable coins to draw in capital from various sources such as savings accounts and potentially even retirement funds. Overall, the video underscores a significant shift in the cryptocurrency market towards more stable, utility-driven projects with the aim of attracting a broader investor base and increasing capital inflow.
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.