What is The Future of Cryptocurrency?


So what is the future of cryptocurrency if you’ve been paying attention you’ve noticed what the market has been quite volatile to the last couple of weeks roughly about I’ll say 20 to 30 billion dollars is left cryptocurrency.  I would say marketplace so it’s roughly around 70 billion dollars right now but as it today is a little bit uptick and the whole premise of this video is I want to quickly summarize my thoughts about the space currently and where I see the space going on in the future get emails every day from amazing entrepreneurs from amazing people who are very gung-ho of entering the space and they feel like they’re missing out they feel like they’re are not getting their piece of the pie or they feel like they’ve missed this golden opportunity to enter the crypto space because it’s only going to be for a short period of time that this is going to be available to most individuals you know while you might tell them I tell me the completely wrong my belief system based on me being industry talking with people and just sheer facts is we are a long long way for crypto currencies actually getting mass adoption and there’s a couple of reasons why reason number one is the technology itself is not scalable yet the coins are scalable you see what’s going on with segue you see what’s happening with their skill ability issues the last couple of years they cannot handle millions of users theoria ms the same boat but trying to do that with cash for proof of stake without quite a bit of weight and we still don’t know exactly how that’s going to actually function and maintenance in the real world looks great theoretical on paper but let’s apply that in the real world number two sheer talent so this is what block geeks does we train developers there’s not enough talented people in the space we need more engineers we need more people who specialize in crypto economics we need more developers we need more talented amazing people to enter this space and to offer value and to support the ecosystem go our skinny let’s say dive or I’ve sailed has raised money they’re all having the same problem they can’t find talented people this is why Google goes around the world and finds amazing people to bring back to Silicon Valley and finally number three is is quite simple the timing I truly believe that yes when Vika came out in 2008 the timing was perfect but what I mean by timing for this point is global time and so if you walked on the street and you talked to anybody about Bitcoin or theory and maybe one of the ten people may know what bitcoin is but a guaranteed zero out of ten people will know what a theory M is so the actual marketplace is not aware of it and they’re not ready for this adoption for example in north america ecommerce purchases on the phone is south of 5% when you go to china is north of 75% on WeChat so if the marketplace here in north america is only sell to 5% of e-commerce that tells you when it comes to psychology of buyers over here psychology people using online banking you know they have appear a regular figure of using their phone for online baking a mac imagine when it comes to cryptocurrency so we are in a very very early phase in this industry I mean extremely early and is still very experimental even though bitcoins been here for eight years if you’re even here for two years that’s like a blink it’s nothing especially because this isn’t just technology this is actually transforming the paradigm of how you do business this is transforming the paradigm of how do you think and this is actually transforming the paradigm of nation-states and nationality because if money is not tied to a nation then once really the point of nations what is the point of having the Canadian dollar what is the point of having the US dollar what is the point to have the Chinese renminbi dollar so the whole mindset of society is completely transformed with blockchain technology so anybody watching this video it is very early it’s not too late so I think the future of cryptocurrencies is amazing and I have a long long long way to go before we see huge mass adoption of Andres Antonopoulos I believe a week ago gave a talk somewhere and someone in the audience asked them andreas when do you think the Queen would hit mainstream his best guess was 20 years from that’s in the best get it maybe sooner might be even later but the bottom line is where we are right now we are max scientists we are experimenting the screen so if you think you know you’re coming around and you’re missing on the boat you’re not you’re actually one of the what I like to point a phrase lunatics in the space coming very early and you’re joining us in this massive global experimental experimenters process of creating new types of crypto currencies these new types of tokens new types of more new types of systems of business because business will change and who knows maybe Bitcoin will disappear next year or maybe you might stay here for the next hundred years same thing would appear and I really don’t know what the top rooms are the futures will be the best guess that we can say is you can look at in the past for example examples of MySpace and Facebook’s but those are a little bit different you know where we’re entering is unknown territory where the whole paradigm is completely different there’s a psychology is completely different and also the context is completely different because back then the internet was still being built so we have this now say hyper active platform that things can exponentially grow which they didn’t have back in the day and communication is more elastic such we have just more resources at our disposal then these companies in these startups is back in the day but so if you’re watching this video and you feel let’s say left out of the party trust me you’re not left out of the party there is you’re early early and my recommendation to you if you want to get involved get involved by some cryptocurrencies invest in some you know blockchain startups somehow it involves are talking to experts if you need to talk to experts if you need to update here update yourself on the knowledge go to blog Peaks there’s a below this video order a YouTube channel where we interview and do webinars with all the best talented people around the world but the bottom line is we are very early for looking at like the growth curve above this technology we’re still at the beginning and yet somewhere like for here somewhere over here is going to be that exponential curve where it hockey sticks but we’re very very far away from that particular point in time classic example right now is with the dots on a theory we have certain – like Bank horn status to shut down EVM imagine if you’re successful startup on top of it here and you have millions of users you can’t even build a business because the PM can handle that user load same thing with Bitcoin you have you have all these very protocol layers of blockchain that must be solved right now and once we solve that whether that is state channel stable coins proof of state Hydra versions of group of state Bitcoin segways you know into lightning Network once that is solved then we can start actually seeing more user adoption where it’s almost instantaneous transaction very very very low transaction fees and more of a flawless user experience where in fact you don’t feel like you’re even using a blockchain in fact you don’t feel like you’re using a cryptocurrency it’s just like you’re going on a shopping channel or a shuttle or an Amazon channel and you’re buying something okay that summarizes up the future cryptocurrency is bright and we’re in a very very very early stages guys peace

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