Hi lions! this has been a wild month of intensive learning, and here are my thoughts about the cryptospace, now from a less newbie perspective:
Our current situation
This is more of the negative side, the international environment is being pretty hostile. The cryptospace has a huge problem right now, and it is that is still linked to the USD. We want to break free from it but it is still our measure of value. It's complex because we need to know what the value of things is, but we don't say "USD is worth x amount of another coin" it is what it is and things have a cost of certain amount of USD. That is how crypto should work at some point, and be each other measure of value "Hive is currently X amount of BTC" for example, just like we compare our national currency to the USD.
That will take time. But there is another situation. The community that do use crypto doesn't always actually trust it. A lot of people don't stake, don't hold, they jump and every low, and it is understandable but it does nothing to help for the maintenance and growth of the crypto we use and the whole blockchain.
The traditional economy is afraid of crypto, but only because they are not a part of it, that is why they attack it while buying huge amounts and retaining it. I see that in the future they will love crypto and suddenly they already have a huge portion of the supply.
I saw some news about one state government in USA buying tons of Bitcoin; and Bitcoin is already being used as a saving for El Salvador, they were the first government jumping and buying it. The Bear Market has been rough, but the bull will also be huge and they have a lot of money there.
The most recent incident was the demand the SC made against Binance. I don't know enough about all that procedure to make more informed opinion, but up until now, my take is that if they were going against them for breaking the law, it would be fair, but they also claim doing it for the well being of the investors; investors that will be the ones affected if they froze their assets, that are happy and earning, only bothered by this situation. It also looks to me like most regulator entities don't know much about what actually happens in the cryptospace, and that losing money because a coin dropped is not a scam if it's juts a movement with the market and is also no permanent unless you panic sell.
On that note, what makes the difference between a coin that just works as a coin and a token that has a better planned project behind, is the way one drop because it's value is attached to something outside itself, and the other one can grow in the middle of the bear because it offer and demand is not only related to the external marked but is influenced by their own economics. For example the token $leo has been going strong.
Cryptoverse growing
In a positive note, there is more and more blockchain projects with a purpose, and more utility to their coins. This means it can create a circular economy where the use of exchanges to transform the crypto into fiat will be less and less needed, and we would be able to do cross-chain economy instead of international. There is more and more bridges being built, and with the transition of Ethereum from Proof of Work to Proof of Stake, the fees are getting lower. The thing needed on Ethereum is a bigger amount of validators to speed up the transactions and maybe with that, the implementation of a shard system like the one use by Near protocol, so they can reduce the latency time. I'm not sure about the viability of this idea, maybe it can't be done now in the mainnet but it could be an option to process information on layer two that do a pre validation of the information that will go to the block, to speed up the process, and then a second validation to make the transactions irreversible and that will go to the mainnet. It seems to work for Near Protocol since it can get 100k transactions per second.
The first generation blockchains are very robust but they weren't prepared for the current demand in terms of processing power and gas fees. Mining required more resources but less expansion capacity. And now we need to use less resources while exponentially expanding the processing capacity, even more with the many projects being build on top of those blockchains.
Crypto changing lifes: Case Venezuela
In my country all the youngsters are using crypto. They don't have traditional jobs because they don't provide stability or benefits like they did for the past generations, they are barely enough to cover basic needs, and demand a lot of time. So they turn to play to earn, virtual work, and working with crypto the way we do in Hive or with trading. That is what is keeping a lot of families alive.
At home, my mom, my sister and I are all in Hive. We have to use the liquidity to survive, literally, my mom and dad have traditional works and that is just not enough. But we keep our staking intact... well, I had to power down for a terrible time when I had nothing else and not enough rewards to just use the liquidity, but now I try to always have enough to cover a month of expenses in reserve somewhere, maybe cash, Binance or savings, depending on where the money came from, so I can survive on that and not to use my staking.
Anyway, we are an example on how a family can survive just by doing the bare minimum with crypto. My mom has been able to buy phone, mattress, food, an more, with her liquid rewards. She is not only more independent in terms on making decisions on what she wants to buy and when, but she also found a place to interact, have fun, and a sense of purpose.
Right now I'm just working with Hive, not only publishing but doing marketing, on boarding of users and businesses, and more recently, working with Leo Finance in a new project for the Spanish Speaking community. This Wednesday we started the pilot of our new podcast, where @crptogeek and I are the hosts, and will be bringing are the news and information to the Spanish speaking community, that is very wide but hasn't had the opportunity to participate in all the initiative for the language barrier. I'm very excited for this project and all the other opportunities that have come with the campaign. This does not stop my work with Hive Barquisimeto.
Now my live is on chain no only as a creator or consumer, but as someone that works from her possibilities on behalf of the well-being of our blockchain. I can't be a money investor because I don't have external money and I do need to have liquidity to survive, but I'm a time investor, a lot of time and extra hours, and time has a lot of value too. I did a post where I mentioned that if we were paid by the hour on the time we invest, it would be a pretty nice amount of money.
Business adoption: going mainstream
A few days sgo, my team Hive Barquisimeto and I had a meeting with the Chamber of Commerce of our state. There were the directors and the board. Most of them very traditional people, some are elderly, others just cautious. But we were able to get their attention to Hive and it's virtues, like no fee transactions. They have trust issues because of all the lies and scams they have been sold before, so we have to be cautions when approaching them too.
It was a funny experience because they have different levels of knowledge and acceptance and they started a debate answering their own questions. We listened and showed them examples on how it is done different on Hive from the experiences they already had. What I noticed is that they were skeptical but with genuine interest, and several times they said that they know this is the future and that is why they want to get in, but not in a rush.
One of the men with experience only with Binance said "when I can buy my glasses with that coin then I'll be happy " and we are working on that, exactly with an optometrist, he's interested and I will soon go talk to him. My dad bought some glasses there and told him what I do here, so I'm waiting for the campaign to end to go there.
User interaction on the cryptospace
I've seen people being maximalist for a long while, like all projects were enemies, and only theirs will offer all thay investors could need, but recently, with the bridges being built, and the Blockchain as a Service system, different projects are interacting with each other and users are being more spread around blockchains, specially when all of them have a different focus. I found while investigating for the quests of the Zealy campaign, that there are several blockchains with very specific purposes. Aura, a private one for luxury brand to certify the authenticity and location of their products from the raw materials to final owners, DeeLance, a new platform for Freelancing on web3 that is currently in it's pre-sale, Filecoin.io, which is a place that aims to store humanity most important information, and many more, but these three are an example and how different they are and that they will no be harmed if their users start using the others too.
The need for cross-chain interaction has been such, that the project Push Protocol was born, it initiated as an Ethereum project and expanded to BNB, Polygon and other blockchains, it provides Push notifications from channels you subscribe to, and has wallet to wallet text chat and video, live sessions as well. It's a big project now and those features are things the crypstospace are craving, might be joining them or implemented directly into the blockchain we are a part of already.
But Leo Threads now can also be a way of communication on-chain for multiple projects, and has a roadmap that shows it will have amazing features for communication, not centered on private communication yet but maybe at some point if it becomes too much of a need.
Education as our way to enter a new era
People is very cautious with new things, so cautions they don't take the time to learn because they think that is just a scam and is not worth their time, and end up falling for the traps that are designed to capture uninformed and uneducated people.
We want to fight this, and at the same time, don't bring people to Hive and Leo, that have still too many doubts. With the team Hive Barquisimeto, we are working on visiting Universities and business to teach them about Hive, to give them exposure to all the aspects we can, and answer as many questions as possible before they create their account, and just after they know what the are getting into we help them create the accounts so they can explore. Being educated about the topic and not being push before it, helps to build the trust of people on the project and makes less likely for them to be played by scammers.
Besides getting them as users and consumers, we want to get creators and developers that are familiarized with the web 3 philosophy, we help ease them to it, so we can count on them for the future of the blockchain in the long term. A professional for web 3 differs from a web 2 professional in different ways.
First, they need to have a sense of community, everything they create has to benefit everyone, not just them, this because in web three the value is not arbitrary, it is given by the usage and the market can go up and down with every decision. If your users will be only exploited for revenue and won't get anything, they will move on to another project and take their value with them.
Second is the transparency. In web 2 all information is sold but at the same time they won't show their real moves. In web 3 the community can audit all the movements just by going on a block explorer to see the movements on the blockchain. It doesn't mean you will lose property, on the contrary, it's very easy to see who's original idea it was, because the blocks have the timestamp too.
And third but not because it's all it takes but because is all I'm gonna list here, innovative ideas. And being flexible to change and accept new awesome ideas. We have learned that technology is always going forward and won't stop for anyone. So being stuck in one idea, even if it's a great one, could harm your career. You can fight for seeing an idea success, but you can do so if it lacks the ability to connect with the new market. Usually technology reaches a new peak every certain amount of years, and those years are exponentially less each time? I don't know the correct term but in history we jumped from rock to metal within millennia, the next advance too several centuries, then just a few, then just one, in the nineties it took decades, and now it takes less than that, so we have to ride the waves or be left behind.
And here I mentioned the people we are trying to get onboard, but it also goes to people already here, like myself. If we plan con succeeding in this volatile market we have to educate ourselves to actually made informed decisions and work of project of our own. When we get the University giving the classes to their students preparing them for the blockchain working hand by hand with Hive, I want to go there too and learn the technicalities.
Diversification of the cryptospace
I remember hearing about crypto around 2013 for the first time. I live in a very isolated place geographically but also in terms on information and I didn't have internet back then. What I remember is hearing about coins. Digital currency, nothing about projects, projection for the future. It didn't click in my mind to jump on it, I also was taught only about mining, and the conversation were like "it is illegal in this country and you can be processed if the government find out, but do it! you are going to get rewards!" I was not taught about other ways to get in that case Bitcoin, other that mining nor possibilities to do more than owning the coin. They didn't talk about how I could actually use it to pay for services and products. I misses an great chance on Bitcoin because they never said how to buy.
But after, I heard bout the infamous Steemit, then about Hive, where you could have the fun you have on web2, of course keeping the differences, but besides that you could get rewards hat you could actually cash out, and even more, you could be part of the site in a way you could never in web2. There were communities to get in touch with, curation programs, and so much more.
Inside here I learned about tokens and the utilities. Funny enough I learned first about NFTs and then about other tokens. And they are so many with different functions depending on the project that launched it.
An now I see so many different options, for gaming, freelancing, research, to build Dapps, data storage and analysis. Far are the days where the only thing I heard about was trading. It was for me a hobby, something people did only for fun, like the forums to talk about anime, but it turned out being way deeper than that. Private blockchains are build, utility tokens launched and more.
Future with crypto
It will be there in the future. As long as we can guarantee internet and electricity in the world, the digitization of basically everything is going to happen. We will need more and more ways to secure the information and take it away from being held for just a few companies that get rich from users and even non-users data. We will need bigger and faster system to run the blockchains without affecting the decentralization. I got interested in the idea of horizontal growth but still don't quite understand how the information on the blocks get the right hash and timestamps but that's on me keep investigating.
We also will need currency that is not backed by natural resources that might be better of being unbothered in nature, or being use, but not sitting in a safe just because it has "value" Which value? It does nothing. The way the crypto gains its value from the project it represents, the build-in utility, and the strength of the community is what could lead to a better valued marked that actually brings progress to society.
Personally, I want to bet on Hive, I want to bet on Leo Finance and see these projects grow. I don't have a portfolio of investment yet, I would love to, in the future, after I educate myself on what I'm looking for. I want to be an advisor for business to join web 3, in my country this will give us so much freedom from the Bolivar that is constantly sinking and from the dollar, that is not even our currency but we have to make all payments using it despite it being hard to buy cash and the banks not operating here.
My journey with crypto has just started and I hope it so be a long and successful one.
Espero les haya gustado, hasta la próxima publicación
Hope you liked it, until the next time
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