The Future of Cryptocurrency - Let's Talk About It
THIS IS NOT FINANCIAL ADVICE; THIS IS MY JOURNEY. YOU ARE RESPONSIBLE FOR YOUR MONEY.
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I go over some crypto's I am interested in and where I see some of them going in the future.
▶️ 3Speak
I haven't read into this much but apparently quantum computing is a big threat to bitcoin (and just about any PoW blockchain). Don't worry though, steem is safe :)
I don't think it's that big of the threat. Old system would be more vulnerable than Bitcoin anyway
Steem is safe because?
Can't it just steal private keys?
#sbi-skip
It'll be immune to 51% attacks by quantum computers though. Plus I believe we need to match the account name with the private key on steem in order to perform an op.
Yes, Steem is immune to 51% attack because it's not PoW but the account name matching doesn't matter as it will simply target big accounts and crack the private key using the account's public key.
That said, when an account get compromised only liquid currencies can get stolen and the chain also has account recovery mechanism so powered up stakes are basically safe.
#sbi-skip
Indeed, powered up stake protects us even more. And to top it all off, crypto is probably still safer than traditional financial institutions in terms of quantum threats.
Yeah, on technical level blockchains are safer than traditional finance but you know how it will go.
The company(ies) who creates practical quantum computers will cartel with banks and not attack them first but attack blockchains first to undermine blockchains' security while in reality banks are even less safe.
#sbi-skip
It's harder to buy things with gold or transport it. I think if people want some liquid assets crypto is better imo.
agreed. gold is a good SOV in most first world countries. Some countries can't "mail gold" - So crypto becomes literally their only way to send money in and out of said country.
true and the way to store it is more save.
I'm really liking Dan's new Eos governance model. Let's see if they can get the block producers to vote on it :)
I liked it but the lock-up times seem extreme. But hell, if some whales want to lock up their tokens for years and years, I am for that xD
BP locking up for 10 years would be reaallllly extreme LOL . Most will probably divide their tokens through all the lockup periods. Gotta love the gamification. :)
@theycallmedan
I am brainstorming a way to onboard content creators from YouTube, along with their following. I am thinking that it only requires 5 Steem in an account for YouTube followers to be able to follow their leaders onto the Steemit platform.
I am considering creating an account for one of the YouTubers recently effected by the Crypto Ban and now unban, along with 100 of their followers.
My first goal is to create a template for such an onboarding and figure out how much time it takes to regenerate RC and create more accounts with my current SP 28k.
My second goal with be to measure how many of those on boarded with very little effort from themselves will actually take the time to post.
I am thinking that if it’s framed around the issues which really matter, free speech, censorship resistance, deplatformation resistance and owning your platform, people maybe attracted to the cause.
Do you have any thoughts or advice based on what you have experienced and learned here on Steemit and in your promotion of Steemit and 3Speak?
Thanks
Hello Dan, good evening from my side, obviously I learnt a lot about ethreuem 1.0 really and seems it's really got something going for the future, but you talk about scalability, how will this be an hindrance?
ETH 1.0 is PoW - ETH 2.0 is POS - ETH 2.0 will scale ETH by thousands of TPS. However, to compete with the likes of Steem or EOS, ETH would need to come up with some revolutionary ways of scaling. They have many scaling solutions on the table, but as I said until it works in practice, there are enough working blockchain projects out currently that I rather focus on.
If the blockchain has scaled today, imagine two years from now, when the other chains finally "scale" - there is great $$ to be made/lost in the speculation, however.
Wow that's incredible
@theycallmedan, In my opinion after a long time someone really gave the break to the Speculation and by that i mean, if we see the Bitcoin Economy then this world still pursue it in Secondary options or that's the possible view point as of now in regards to Financial Transactions, when they will face any Blockages while sending through Fiat.
Gold is Store Of Value and Bitcoin is Highway, absolutely true words brother. Stay blessed.
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This is a verry good friends. Good jhob and post you
well i hope i can take advantage of this time and have patience in holding because this time won't come again
I always love listening to your insight❤️
This is really bright @theycallmedan, cryptocurrency has the chance of topping all in future when no other coin can challenge. Thanks for seeing this my Mentor!