We are seeing major paradigm shifts. Crypto-eonomic systems that we are involved in are a radical departure from what we are accustomed to. There are a lot of benefits to the commons model. It takes a lot of time for the masses to adopt to change.
We are in a period of incredible transition. It is going to take time for the masses to catch up.
▶️ 3Speak
In this episode, the host explores the concept of transition, particularly in the realm of technology and cryptocurrency. He discusses the inevitability of gradual change in the face of a world accustomed to instant gratification. Highlighting examples like the closure of CryptoBridge and the shift of Waves DEX to a hybrid model, he underscores the emerging trend of hybrid solutions bridging the gap between traditional fiat systems and the burgeoning crypto economy. The episode also touches upon the growth of the crypto industry, despite its nascent stage, and the importance of patience and long-term involvement in cryptocurrency projects for potential significant returns.
The host begins by addressing the modern challenge of transitioning in an instant gratification world, emphasizing that significant changes, especially in technology, don't occur overnight. He mentions his anticipation for various emerging technologies and the frustration that comes with their long development timelines, some extending over a decade.
Central to the discussion are recent developments in the crypto world, such as the closure of decentralized exchanges like CryptoBridge and the transition of Waves DEX to a hybrid model. These examples serve to illustrate the ongoing Evolution within the crypto space, Moving towards systems that can better interface with the traditional, fiat-dominated economy.
The episode delves into the broader context of economic transitions, drawing parallels between the slow move from agricultural to industrial societies and the current shift towards a crypto-economic system. The host reflects on the pace of change and the incremental growth of the crypto industry, emphasizing that while the total market cap might not always reflect it, the sector is expanding through increased participation and diversification of applications.
A significant portion of the discussion focuses on the youth of viable blockchain platforms, noting that many, like EOS, Ethereum, and Steem, are less than five years old. This point underscores the early stage of cryptocurrency adoption and the challenges of building applications that gain widespread use. The host stresses the necessity of time for both technological development and for people to adjust their behaviors towards new systems.
Highlighting the resistance to change, especially among older generations and those benefiting from the status quo, the episode acknowledges the gradual nature of societal shifts. However, it also points out the building momentum in the crypto space, likened to the establishment of a new economic model that leverages the concept of digital commons, as seen with the success of open-source initiatives like Linux and Apache.
The episode concludes with a discussion on the potential of crypto-economic projects and the benefits of being an early adopter. The host encourages involvement in multiple promising projects, emphasizing the opportunity to accumulate and grow one's stake over time. He points to the bear market as an opportunity to invest in solid projects at lower values, drawing a parallel with traditional stock investments.
The narrative closes on an optimistic note, projecting significant industry growth within the Next 24 months. This projection is rooted in the belief that the continuous development and refinement of blockchain technologies will eventually lead to breakthroughs that significantly propel the industry forward.
Overall, the episode serves as a comprehensive overview of the current state of the cryptocurrency world, its challenges, and its potential. It offers a balanced perspective on the need for patience and strategic involvement in the crypto space, highlighting the long-term rewards for those who contribute to and invest in its growth.