What Might The Future of Hive and Cryptocurrency Look Like

What Might The Future of Hive and Cryptocurrency Look Like

One thing I’ve noticed over my years in the crypto space is just how much speculation takes place. But is that so wrong? In many cases this is exactly how stocks and other assets are traded anymore. Ever since the creation of Robinhood with zero fee trades and putting the power into the hands of everyone instead of a broker the trading space has really changed. We’ve seen meme coins explode in value and some even hold a decent value such as Doge, we’ve also seen it rife with scams and other negative aspects including rug pulls etc. For the most part though all of this is traded on emotion and speculation and no longer about actual figures and numbers of the companies.

The History

I’m happy to say I got involved with Bitcoin back in 2011 and mined it from my own computer. I’ll admit I didn’t really understand it at the time. To me I thought it was a way to help other video editors etc render their videos as that was a thing back then. Using your system idle resources to process jobs for others and get paid for it. (This is still kind of a thing with Gridcoin which still floors me why that blockchain really hasn’t ever taken off) A few days or even weeks later I started researching it more and figuring it out better and really started to love the idea and what it was all about.

Mining was actually pretty good back then. From two R9 290X’s I had I’d hash out a good solid 0.01 - 0.05 BTC per day if not more! In today's value that would be around $500 daily from mining from two GPUs.

After some time I didn’t really mine much, when I had to use the computer for work I turned it off and only ended up running it at night. Sure knowing what I know now I would have been mining that thing at optimal 24/7 but hindsight is a B.

This didn’t last all that long because the first USB miner was released in May 2013 which trashed GPU mining. At this point if you didn’t have asic you were wasting your time and it was costing you money big time. Again hindsight if I would have known it was going to $60,000 I would have kept mining hard lol

This is also when other tokens started to come out like Lightcoin and Dogecoin which I ended up mining. In fact I mined well over 1 million total dogecoin. It’s been a rough and wild road with crypto so many small ups and tons of downs in terms of scams, governments taking it down, lost wallet keys, hacks and so much more.

This along with the constraints of the blockchain in terms of high fees is what ultimately killed the bull run not once but now twice. The first we layer 2 tokens on ethereum which results in crazy high fees and the next time was the NFT and gaming boom that also resulted in crazy fees upwards of $50+ per transaction. This could also be one of the big benefits of a blockchain like the hive blockchain which works on resource credits via how many tokens you have powered up. To me it’s a more simplified and rewarding system then something like the WAX blockchain.

From a single proof of work blockchain we got a few other proof of work blockchains. We also started to explore into node running with blockchains such as DASh and the first POS or proof of stake token being that of Peercoin in 2012 which is pretty wild to think about that’s how long ago proof of stake was a thing. What might came next? I think we are still unsure on that either someone is going to create it or the new wave of AI might bring us new options.

The Evolution

It really wasn’t until 2015 that we started to see the first explosion of crypto and blockchains. This was mainly in part to Ethereum which has blown up to be one of the largest platforms ever. Again lucky for me I picked these up for as little as $3 and I think the tops of $15 etc.

Shortly after that steemit launched on July 4th 2016 I didn’t become a part of this until I think 2017 which means I wasn’t all too far off with joining it. From that we all know the backstory for the hive blockchain. At this time I thought and in some ways still think Hive is ahead of it’s time in terms of what it can do and what the possibilities are. However that head start is starting to run out for sure as a huge push in web3 is currently happening and even some competitive blockchains are shaping up like hive. This to me means Hive needs to get it’s butt in gear fast if it’s going to start releasing these applications. It feels like many have been stuck in limbo or moving in directions that might not be the best.

However hive does now have LeoFinance with it’s threads feature which puts into context some seriously huge positives for hive itself but also it looks like 3speak is also starting to shape up into something.

This new evolution is only now starting to take place and I would say the biggest changes have been happening in recent months. Development is a pretty long process and for large products it can be a year or more before you see anything on the front end (being that of the user).

The gaming space has also heated up. There’s a good set of games on the hive blockchain but the biggest of them all that really rocked things was Splinterlands this game continues to still go strong and over the next 6 months we will see one of the largest advancements ever that many have been waiting for.

The Future

The future of cryptocurrency is still unknown but it does seem like AI could play an important factor in it. Also DEFI and other finance systems will become major powerhouses including dex systems which might in fact be controlled with AI and not humans. Would it then be truly decentralized?
One of the greatest things that came out of cryptocurrency was the blockchain tech which has already found it’s way into many applications such as FEDNOW, supply chains and so much more. It’s expected that blockchain itself will be a 3.1 trillion dollar market in 2030 but that’s not to confuse cryptocurrency with blockchain in these cases they are separate.

So what might the future look for cryptocurrency?

The long term outcome even with constantly bashing it from governments is the continued adoption and growth of cryptocurrency itself.

What we do know will be true for sure are the following: it just the matter of when not if.

Regulation will become a thing that’s for sure. However, what that looks like is still well up in the air in terms of how it will affect people and businesses in general. My hopes are a safe and productive tax with less confusion however the USA tax system has never been known for its easy taxes…

Mass adoption will also happen where roughly half of the world's population doesn't own any cryptocurrency, however in the next 10-20 years that generation is going to die out and be replaced with one heavily within crypto.

Exchanges will most likely all be replaced by defi and DEX or if there are exchanges they will come under much heavier watchful eyes, rules and regulations. Coinbase might actually be the one of do so. While that sounds horrible it most likely just going to happen no matter what sadly. What it will do is build a stronger sense of trust, easier and less friction for investors with large sums of money to get involved. This could very well spark crypto to become a 5 trillion + industry within the next 2-5 years.

Just like we now have BRICs cryptocurrency might actually become the world currency of choice. That’s because the core blockchain can’t be manipulated and everything is on a open ledger. There would be no hiding or shady business as everything would be spelled out clearly on the open ledger.

We have seen countless times China trying to ban crypto and mining only to start adopting it yet again. It seems to be this flip flop affect. When China says it’s ok the USA hates on it. When the USA says it’s ok China hates on it. Makes you really not want to trust any governments anymore and instead simply look out for yourself and your family.

The Future Of Money

We are seeing a rather radical shift currently in what we consider money. It seems radical but I also believe it’s been going on already for the last 50 years with the first credit card called diners club that launched in 1950. Since then was the first time a form of digital money became a thing. From there we quickly ramped up into a credit system filled with debts from loans, credit cards, houses, cars and much more. Most of the time no one uses paper FIAT anymore and instead does everything on their credit card. You know who does use cash? People that don’t want to be tracked which is pretty funny when you think about it. The USA government is attacking crypto even though it can be fully tracked and saying it’s worse and used for so many bad things as if the fiat system isn’t running rampant with scams and shady business.

This credit type system has been around for a while and has slowly crept into our every day lives to the point paper money is hardly used anymore. The next advancement of that seems to be cryptocurrency. For one a vast majority of people are getting pretty sick of the rigged fiat system and cryptocurrency in a way opens that up to be at least transparent, worldwide and no one really in control of it. It’s restoring faith in more importantly freedoms BACK to people that were originally taken and taken aggressively in 2001 and never returned.

Cryptocurrency has become a powerhouse in itself of over a trillion dollars and holding there for a long while. This shows it’s a serious contender with the world now. However it’s still a very far shot when it comes to stock markets which hold 44 trillion in the USA and over 100 trillion around the world. That’s 1% and shows you how much room cryptocurrency could grow. It could also grow to start replacing traditional stock markets and reduce fraud and other issues in the stock market now. If this happened we could see cryptocurrency skyrocket into massive values we haven’t seen before.

So far my prediction of the next mega bull run would put bitcoin at $130,000 USD value. Of course that’s just speculation on some calculations I did and is not financial advice.

It’s clear that crypto is here to stay and right now offers yet another possible area to get in early while the markets are down. It’s pretty wild that just a few months ago each bitcoin was worth $10,000 less that what it currently is sitting at.

Posted Using LeoFinance Alpha