The Changing Monetary System
We are at the cusp of another major change in the monetary system. This is the next phase in an evolutionary process that goes back hundreds of years.
In this video I discuss how blockchain and cryptocurrency is going to radically advance the monetary system. We are removing friction from the system. The last major monetary change caused more than a 100x in the amount of transactions processed. We could see a similar jump in this over the next few decades.
▶️ 3Speak
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and that last radical change of the monetary system which was friend. One question, will we be prepared for this new change that is coming or will we have to prepare in some special way?
The question is, how hard will the transition be… Will it cause social unrest, civil wars, regime changes, etc… Because that’s usually what happens with such changes.
Think you uploaded the same video on accident or your droppin the same names and talkin about the same stuff hahaha!
It's the same videos and I think this happened before in the past. So if it's the same, then it will be a 3speak issue.
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I thought I was going crazy.. so I had to check
I think crypto works well as a public ledger and it can replace some of the ledger based system that the banks have. So as technology starts to use the development that crypto makes, I think it will have more mainstream adoption. Unfortunately, society tends to move slow so it will be decades before it's ready.
Also, video repeated from previous post
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I get that repeating videos issue again...
Summary:
In this video, the speaker discusses the uniqueness of the cryptocurrency Hive compared to other decentralized chains like Bitcoin. He mentions the revolutionary fork away from Steam that led to Hive's decentralization and distribution. The speaker emphasizes the absence of significant individual stake in Hive, making it more decentralized compared to chains like Steem and Ethereum. He also touches on the limitations of proof of work models, the potential shift to proof of stake, and the risks associated with centralized projects in the cryptocurrency space. The speaker highlights Hive's position as one of the few truly decentralized chains and speculates on the future of blockchain technology and the emergence of new players in the industry.
Detailed Article:
The video dives into the unique aspects of Hive, a cryptocurrency that stands out due to its decentralization and distribution, particularly in contrast to other projects like Steem and Ethereum. The speaker emphasizes the pivotal moment in Hive's history when it forked away from Steam, marking a significant shift towards decentralization within the blockchain space.
The speaker references an interview involving Charlie Schramm, a prominent figure in the industry, who highlighted that Bitcoin and Hive are among the only truly decentralized chains. This assertion underscores the speaker's argument regarding Hive's distinct position in the cryptocurrency landscape.
A key point of discussion revolves around the issue of centralized stake within various projects, such as Steem and Ethereum, where founders and early developers hold substantial control. This centralized stake raises concerns about decentralization and network resilience. The speaker outlines the potential implications of these centralized models, particularly as the industry moves towards proof of stake mechanisms.
Furthermore, the video delves into the limitations of proof of work models and the anticipated shift towards proof of stake, as exemplified by Ethereum's planned transition. The speaker highlights potential challenges and points out the evolving nature of blockchain technology, emphasizing the need to adapt to stay relevant in the ever-changing cryptocurrency ecosystem.
Additionally, the speaker touches upon the concept of forking chains to remove centralized stake, a strategy that could enhance decentralization within projects. While acknowledging the complexities and potential obstacles associated with such actions, the speaker presents it as a viable solution to address centralization concerns in blockchain networks.
The discussion shifts towards the role of Bitcoin in the evolving landscape of blockchain technology, highlighting its strengths as a secure network. However, the speaker also acknowledges Bitcoin's limitations in terms of speed and scalability, particularly in comparison to other emerging projects and technologies.
The video concludes with a reflection on the future of blockchain technology and the potential emergence of new players in the industry. The speaker predicts a shift towards more decentralized and community-driven projects, moving away from centralized structures and emphasizing the importance of a decentralized approach in the long term.
In summary, the video provides a comprehensive analysis of Hive's uniqueness in the cryptocurrency space, touching on decentralization, distribution, proof of stake models, and the evolving nature of blockchain technology. The speaker's insights shed light on the current state of the industry and offer valuable perspectives on the future trajectory of decentralized projects within the cryptocurrency ecosystem.