FUD! FUD! FUD! FUD!
Bitcoin is a scam!
Bitcoin is going to zero!
Scamcoins! All of them!!!
Any of this sound familiar?
Do you know what all the people who uttered these words have in common? The answer: they know very little (at least about this).
Cryptocurrency is not a scam; it is not a fraud; it is not worthless. Everyone needs to step back and relax. Things are going very well.
The last couple days I was watching the Elon Musk situation with amusement. Whether you like Tesla or not, there is no doubt that Elon is ahead of the rest of the world. He is one of those visionaries they will be talking about long after most of us are gone. Of course, his detractors call him a scam artist (kind of like they do Bitcoin). That is okay, they know little also.
Revolutionary ideas are rarely grasped by the average person. Hell, I am convinced the average person does not grasp what is directly in front of him or her. I see so many who are completely unaware of technological advancements that are affecting the industries they work in. Thus, we must let the masses be since they simply will not get it for a while.
If you consider what we are involved in with the STEEM blockchain and this entire industry, you will see that what we are dealing with is much bigger. I keep mentioning crypto-economics, do people really understand what that means?
Simply put, it is Web 3.0.
We are seeing the onset of an entirely new digital world, one that went from static websites, to bilateral communications of social media, and, now, to a semantic web which will understand like a human does.
This will produce the Internet of Everything which will use artificial intelligence, virtual reality, augmented reality, 3-D graphics, and, output on 3D printers.
The move to Web 3.0 is guaranteed just like the move to 2.0 was. While most were not aware of it, the paradigm shift took place. Of course, this did not happen overnight but took years. This is where patience is required. We are in for a decade long process before the true evolution takes place. People will fight and kick before embracing what the technology brings. At the same time, the industry must undergo a ton of development, most of it at the base level before we can advance to the next step.
There will come a point where the masses will wake up and embrace this. Certainly, security and ease of use are two areas the industry needs to improve upon. However, when the time comes for mass adoption of Web 3.0, then it will be complete. Fortunately, some really smart people will already be working on Web 4.0.
It is easy to lose sight how big all of this really is. Decentralization will take a while to implement. The establishment will fight it at every turn. They will lose but it will be a battle. Before we see full decentralization, we will have to exist using hybrid models to transition. Part of this is technical since there still are a few disadvantages to decentralization like scaling and speed. Over time, they will be solved.
Pricing action will always be an animal unto itself. The forces that drive that are separate from what is taking place. This year was one of FUD and bears. That is what the market decided. At some point, the bulls will run. Either way, none of that has an effect on what is truly taking place. Development and innovation keep progressing. This is important to remember.
The fact that most are completely unaware does not mean we have to buy into what they say. Part of the reason I post what I do is to try and assist those in seeing some of what is taking place. We know there is so much happening that it impossible for one to grasp it all.
My point here is there is something really big developing and we are all a part of it. Web 3.0 will be the "attention economy". We are the trailblazers in this realm. Each post on here is another piece of data on the blockchain that is going to comprise this enormous ecosystem in a decade or two. We are providing the food that will feed the AI down the road.
2018, so far, has been a great year for the STEEM blockchain. The last 4+ months of the year look like they will be better than what took place in the first half. That is how development works.
Hang in there. We are in a marathon, not a sprint.
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