The Future Of Cryptocurrency With Exchanges
We have seen a great deal of disruption over the past year. A lot was typical Wall Street antics.
On Hive, we are use to not being on many CEX. For this reason, the trend in crypto might actually benefit Hive.
In this video I discuss how the near future of crypto is building more decentralized options like DEX and liquidity pools.
▶️ 3Speak
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Well, they're all for good of hive I guess.
I really hope things go well
@tipu curate
Upvoted 👌 (Mana: 0/36) Liquid rewards.
I have always been pushing for liquidity pools or something on Hive for dex
Decentralization is the key to everything. They can take down a few points but if it's open to anyone then it becomes nearly impossible for them to do so.
Posted Using LeoFinance Beta
Hive engine exchange is also worth mentioning. Personally, trading internally on Hive for me became something like 70 percent of my all trading activities and it is growing, soon will be 80-90 percent.
Posted Using LeoFinance Beta
I think the most important on-ramp for hive will be Bitcoin Lightning.
BSC and polygon are great for connecting to the EVM-chain-ecosystem.
And if Hive and/or Leo are connected to Torchain, then we get most of what we need.
I believe Bitcoin will always have a fiat on/off-ramp
I also think that smaller amounts of value will be able to move via Lightning even as the larger routes get shut down.
That could very well be the case indeed
We have been fully DEX integrated for 2 years now because you definitely cannot trust centralized exchanges- never really could.
They are exactly like banks, the small ones fail and the large ones do shady stuff.
Summary:
The video discusses the future of cryptocurrency with a focus on decentralized exchanges (DEXs) versus centralized exchanges. The speaker examines the internal market on Hive as an example of a powerful decentralized autonomous organization (DAO) where users can seamlessly exchange Hive to HBD and vice versa without counterparty risk. The speaker emphasizes the importance of DEXs and decentralized options over centralized exchanges, highlighting the need for advanced smart contract capabilities tied to projects like Hive. Centralized exchanges are acknowledged for their role as gateways to fiat, but the speaker envisions a future where crypto-to-crypto transactions reduce the dependence on fiat. The impact of regulations, particularly by bodies like the SEC under Gary Gensler, is discussed, emphasizing the importance of building decentralized systems to operate outside the regulatory scope.
Detailed Article:
The speaker begins by outlining the central theme of the video, focusing on the future of cryptocurrency and exploring the contrasting dynamics between DEXs and centralized exchanges. Using the example of the internal market on Hive, he highlights the seamless and risk-free exchange of Hive to HBD and vice versa within this decentralized system. The internal exchange operates on an order book akin to centralized exchanges but distinguishes itself by being decentralized and algorithmic, not subject to control by any entity, thus securing the exchange's autonomy unless the blockchain is disrupted.
The discussion delves into a crucial lesson from 2022: the significance of holding one's crypto keys for true ownership, distinguishing decentralized crypto activities from what the speaker labels as Wall Street antics seen on centralized exchanges. The argument is made for prioritizing integration with DEXs and liquidity pools, advocating for advanced smart contract capabilities tied to projects like Hive to facilitate a shift towards more decentralized crypto-to-crypto markets.
The speaker recognizes the current necessity of centralized exchanges as fiat gateways but envisions a future where decentralized exchanges and transactions reduce reliance on fiat. Despite acknowledging the enduring need for fiat interactions, especially while cashing out, the speaker anticipates a shift towards crypto-based commerce, citing examples of buying goods and services using crypto. The discussion emphasizes the importance of community involvement, stakeholder engagement, and the creation of diverse projects within the crypto space to reduce reliance on traditional financial systems and fiat currencies.
Regulation emerges as a critical aspect, with the speaker pointing out the growing scrutiny from regulators like Gary Gensler and the SEC. The conversation underscores the need for developing truly decentralized systems, including exchanges, wallets, node systems, finance solutions, lending platforms, collateralization services, and payment systems, to operate autonomously from regulatory interference. Drawing parallels to file sharing's resilience to regulatory efforts, the speaker highlights the unstoppable nature of decentralized cryptocurrencies once they are integrated into decentralized systems, effectively operating beyond the reach of conventional institutions.
In conclusion, the speaker advocates for Hive and similar projects to pursue a path towards full decentralization, emphasizing the need to build resilient systems for the future of cryptocurrency. The video serves as a call to action for the community to prioritize decentralization, advance smart contract capabilities, and foster decentralized financial ecosystems resilient to regulatory pressures, ultimately shaping the trajectory of the crypto market.
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.