Bitcoin and Blockchain are Stronger Than Ever
I myself often compared the rally of the last few months to 2017 rally but total I will stop doing so.
No longer will I reference 2017 rally to compare it to the great rally of 2021 after this post. Well maybe ;)
Why?
This rally has far more going for it and I don't even know if you could really call it a rally anymore. Instead I would call it mass adoption. You know that thing we where waiting for back in 2017 that never happened.
While yes 2021 does still have some of the same issues of 2017 such as Bitcoin and Ethereum having major issues with scaling and fees that for sure hurt the adoption rate there are alternative chains and projects now which allow for far greatly flexibility.
Even though most onboarding to crypto has been happening with Bitcoin Ethereum is starting to take center spotlight and a few others. Platforms like Coinbase allow at least USA based customers to buy more than just Bitcoin. 2017 mainly was Bitcoin, Ethereum and Litecoin.
Crypto back in 2017 was all about the money with minor use cases such as being able to buy a few items with it or store fronts. Since then adoption has grown to high levels allowing you to buy almost anything with Bitcoin or most cryptos now.
Not only that but crypto now has a huge amount of use cases that continues to grow.
Gaming > One of the many growing aspects of crypto and being introduced into NFTs Gaming will allow millions to interact with blockchain and not even really realize they are and that's the beauty of it! The UI and integration are so seamless that people don't need to know they are using blockchain they don't care they just want to play and BUY!
NFTs > Many influencers are jumping in on NFTs and I don't see the craze letting up any time soon if ever. Yes the days of trash NFTs and creating dumb artwork to make millions of bucks is dead however legitimate artist, music etc all have the ability to sell more through crypto because of this. Music, concert tickets, events and more!
HYPE > This brings me into hype. As influencers use NFTs and other aspects of crypto it drives others to adopt and start using it. As much as some people might dislike it you almost always buy something because someone has hyped it up. You literally don't NEED anything besides food, water and shelter. Everything else is HYPE and yes it drives huge adoption and value. Thus sparks innovation because money and value is a huge driving factor.
This year we saw huge demand for decentralization. However crypto is still heavily slacking in this area and I honestly don't get why ProjectBlank was put behind the DeFi project. To me the call and demand for centralized social media was at an all time high but has recently fallen off a bit as there are honestly few platforms that offer it. This would have been a perfect breakaway for Hive and honestly I'm a little disappointed. However it will be coming at some point.
This area right here I have high hopes for someone developing a few decentralized platforms. While LeoFinance and Hive etc do a good job of this with POB and blogging it should be expanded asap into alternative social media sites.
Overall the general idea is Crypto and Blockchain are now here to stay and the value is only going to keep on climbing as new platforms are released. I bet you there are big companies working towards creating these types of platforms and it's only a matter of time. Let's make Hive one of those focal points with it's unique POB system.
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Completely different industry back then. This sounds like the video I made earlier.
Comparing this is like compaaring a 1972 Chrysler to a 2021 Tesla.
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Going to need to go watch that video! Ethereum is hitting it's stride right now.
I would not go so far to call it "mass adoption" what is happening right now. Perhaps "institutional", perhaps even "elite" adoption, but I think we have not arrived a point on which you have to justify yourself why not using or accepting "crypto" payments. I think this point is still a few miles away in most of the world. And that is what I would call mass adoption :)
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Still have not even begun to tap into the gaming market.. NFT's are a good starting point, that will eventually transition into gaming and once the kids are on to earning and owning digital assets then we are locked in!
This rally is very different, still loads of speculation but way more products with functioning MVP or more.. not to mention institutions making plays now.
This begs the question, do you think we've seen our last crypto winter or will the crypto macro cycle repeat itself as it has in the past?
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