So things are going to hell quickly?
The last couple days saw the price of cryptocurrencies all drop significantly while some governments moved to stop the flow of cryptocurrency.
Ho hum. Just another day in the world of cryptocurrency.
The truth is nothing could be brighter for this industry. We are seeing some major players starting to take notice.
One of the main things to remember is that cryptocurrency is the first global application on blockchain. When we discuss cryptocurrency, it is impossible to separate it from blockchain. That is akin to trying to separate email from the Internet. While blockchain can will see many other applications, cryptocurrency is going to be tied to whatever else is built upon these network.
The reason is simple...cryptocurrency is the monetary unit of exchange on the blockchain. Businesses are being built upon these networks meaning that cryptocurrency will be at the core of what takes place going forward.
When we look past the FUD, we see a lot to be optimistic about.
We all know Facebook is starting to look at cryptocurrency yet they are not alone. Microsoft, Amazon, and Oracle all have different blockchain projects in the works. They realize that any company not in blockchain in the future will be an also-ran in the cloud computing space. All are working on blockchain-as-a service.
One interesting point for STEEM hodlers is that Microsoft is looking at using blockchain for decentralized digital IDs. This is something that @ned mentioned a few months back in an interview. To me, it seems there is some forward thinking among some of the people involved with STEEM.
Wall Street is also taking notice. Not only are there numerous funds opening up to invest in cryptocurrencies but others are seeing the underlying potential of blockchain.
"This is going to be one of five key technologies — along with automation, robotics, A.I. [artificial intelligence] and the Internet of things that drive this next industrial revolution," he said Friday on CNBC's "Trading Nation."
https://www.cnbc.com/2018/05/11/blockchain-to-help-drive-next-industrial-revolution-federated.html
“When you think about it from an enterprise perspective, it has the ability to replace reconciliation, which is expensive and requires back-office and time and paperwork with more instantaneous verification [...] that will allow cost to be cut and that savings [sic] to be passed along.”
The diamond industry is long tied to slavery and death. We are starting to see a move to clean up the practices in this industry and cutting off the supply of "blood" diamonds. Blockchain is going to help track diamonds from start to sale. DeBeers did their first transaction.
https://cointelegraph.com/news/de-beers-tracks-diamonds-with-blockchain-for-the-first-time
Finally, while not blockchain but, rather, Bitcoin specific, we now see a wallet standard for mobile phone download. All Huawei now offers a Bitcoin wallet for download in the app store, pre-loaded on every phone.
And finally, Wall Street is all in a race to find out who will bring cryptocurrency trading to the masses. All the big banks and some exchanges are looking at it closely.
The view that Bitcoin is a fraud or going to zero does not seem to make sense in light of these articles. Of course, I must mention this is just what was published in the last couple days. Each week we see developments like this.
My view remains the same. We are at the beginning of something that is going to be huge. Most parts of society are going to be revolutionized because of this technology over the next few years.
Do not let the FUD deter you, there is too much going on for cryptocurrency to just be a "flash in the pan".
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This is a good post. As a nontechnical person, where crypto currency is concerned, I found this information approachable. A lot of crypto posts read like Greek to me.
It's nice knowing that the big boys in the billionaires club are directing some of fiat towards developing cryptos. Funny how the establishment is so slow to come around.
Thanks for part of Steemit community:)
blockchain = $$$$$$$
This is what I keep telling people. Blockchain and cryptocurrency are here to stay. There's no doubt about it. If we continue this way then we may see a Trillion dollar Market cap soon. No matter the FUD and all negative news, we will pull through. Once we can achieve some level of stability, their trashtalks will no longer matter. Warren Buffet should take some rest. Seems like his time is past. Cheers man!
Upvoted & Followed Yah!
The amazing thing is people listen to Ole Warren when he doesnt even have a computer on his desk. This guy is really old school. He just started investing in Apple only a couple years ago....he avoided it because he didnt understand how they made money.
He is a great investor but times might be changing on him.
Blockchain and cryptocurrency are the future...those that understand that, are going to profit greatly.
Exactly 🚀🚀
I think we will reach a trillion dollar market cap by the end of this year.
Blockchains technology is a major game changer.
They can run from it, dread it and dear it but destiny is all the same .
This is exactly why Blockchain-not-Bitcoin people are ridiculous. Hey Bill Gates! Microsoft is developing azure. How are you going to separate the blockchain from cryptocurrency... you can't. Duh.
We should be looking at long term with such a young market. It is so choppy that even a bit of bad news can have a huge influence on price. In the long run it looks like it should go up though. So hang on to your crypto and remember that you don't lose money unless you sell at a loss.
Just stopping by to tell you that our podcast is up :)
https://steemit.com/cryptocurrency/@sustainablelivin/universalbasicincomeforall-61yj0ic4dj
There’s so much going on with blockchain and crypto, it’s hard to keep track of it all. Good thing taskmaster helps us all keep track of it.
Crypto is slowly going mainstream. It’s long overdue.
Nothing is going to hell. We are fine, Just HODL and be patient 🚀
Yesssss we need your work, @taskmaster4450, and I am spreading it!
As usual, it's the technological fundamentals that drive everything in the long run. I interpret Bill Gates' recent turncoat FUD as little else but an attempt at driving the price of Bitcoin down.
Hi @taskmaster4450,
As the one of the first Steemians who I read and inspired me with your Steem-championing and positivity, I've worked on a heap of different things in Planet Steem and still very much adore this platform. I read your articles every day, even if I don't comment on them, and one concept I've thought a lot about is the age of abundance and AI doing all the hard white collar labour. With Presearch and blockchain technology, I truly believe as you've said multiple times that companies will be paying us for our attention.
So... in that vein, I've created @fitnation and my friend @mstafford has created @runburgundy. @runburgundy is a bot/process that will pay out it's post earnings to it's participants based on how many kilometers they've run, cycled, swam or hiked.
I was wondering if you could take a really quick look at it and let us know if you have any thoughts on what we'd need to do to make this workable/scaleable/Age of Abundance-worthy? If you've got time obviously, no stress if you're too busy, we're just keen to action the concepts and ideas you've been championing.
Thanks so much!
great read, thanks!
Square inc is who will bring crypto to the masses
Manna is a good project but there payouts are getting smaller for some reason you can also sign up for swift demand supposed to go live later on in the year daily payouts till then
https://www.swiftdemand.com/?referred_by=matt222
Yes just like the email can't be separated from the internet so is the cryptocurrencies with the blockchain.
It is just taking time but the world will finally go the crypto way.
@taskmaster4450 i Appreciate this very informative cypto news. Keep it up, because not all of us have a precious time to read and be updated about crypto currency. I wish i have more steem power to show how much I appreciate your work. But anyway here's my upvote.
This last RED in the market was a reminder for everybody that this is a normal market and prices go up and down, although the trend is a steady rise... It is very important to take out some profits and buy more again when the prices come down.