On a day when there was big news, the Merge, we see the crypto headlines spouting all kinds of negative stuff. This is common place during the bear and should surprise none of us.
In this video I discuss how we should combat this. We are seeing a lot of promotion of fear, which is likley being driven by the big money players. This is the game they play. That way they can pick stuff up on the cheap.
▶️ 3Speak
I didn't even see anyone talk about the fees until the end of the day.
Fees went from $20 to 50 cents.
So now ETH is more decentralized than all the EVM clones and the lower fees on those chains is now largely irrelevant.
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Ethereum is turning into a banker's chain before our eyes. I think it will be successful but not for the average users.
So I hold my ETH but it is far from the premise of what originally was envisioned.
I think Vitalik knows this.
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One hostile takeover later all the top block producers get forked out and it becomes a real boy. Until then: Pinocchio.
It's not a surprise to see the media pundits throwing out all the threats and words. I don't really think it will affect things too much except scare off the more ignorant people. However, if the application and features are good, people will flock to it regardless.
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They love to spread the negativity. It is incredible how that works regardless of the topic.
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Bear market lowers motivation as the hype for out-of-this-world gains doesn't surface anymore. Thus some appeal to negativity rather than keep focus and building. And we all know that the bear market is the greatest time to BUILD!
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Builders are the ones who will really excel in the next bull market. It is going to be very interesting to see what jumps.
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It is a phrase that tells exactly what happens: promotion of fear for those who want to enter, do not do it and for those who are already panicking, sell at a lower price
Summary:
In this video, Task discusses the negativity surrounding the cryptocurrency market during bearish times. Despite significant developments like Ethereum transitioning from proof of work to proof of stake, the focus in the media remains on negative narratives such as regulatory threats, government actions, and bankruptcies. Task suggests that this negativity is likely driven by Wall Street institutions looking to amass positions on cryptocurrencies at lower prices. He emphasizes the importance of staying focused on decentralized projects, building, and expanding activities rather than being swayed by external noise. Task also highlights the need to ignore the doom-and-gloom narratives perpetuated by mainstream and financial media, advocating for a more positive and forward-thinking approach.
Detailed Article:
Task starts by noting the prevailing negativity in the crypto space amidst significant developments such as Ethereum's switch from proof of work to proof of stake. While this transition is historic and should evoke optimism, the media's focus remains on spreading fear, uncertainty, and doubt. He mentions how figures like Gensler and actions of the US government contribute to this negative sentiment, indicating a potential agenda driven by Wall Street to push prices down for their benefit.
Task delves into the media's role in shaping market sentiment, drawing parallels between traditional financial markets and cryptocurrencies. He points out how mainstream financial media often influences sentiment through biased reporting and agenda-driven narratives. In the crypto world, this is no different, with narratives largely skewed towards negativity and overlooking significant positive developments like the Ethereum merge.
With a critical outlook on mainstream and financial media, Task encourages crypto enthusiasts to focus on the long-term prospects of decentralized projects and advancements in the space. He stresses the need to ignore the noise created by media narratives and regulatory uncertainties, advocating for a steadfast approach towards building and developing within the crypto ecosystem.
Task highlights the resilience of the crypto market, reflecting on past bear markets and subsequent recoveries. He discusses the importance of looking beyond short-term price fluctuations and focusing on the progress of blockchain projects and applications over the years. Task cites examples like Hive and SplinterLands to showcase the evolution and growth potential within the crypto space, emphasizing the value generated by these projects over relatively short periods.
In conclusion, Task encourages viewers to maintain a positive outlook amidst market uncertainties and media-driven negativity. By focusing on the long-term potential of blockchain projects and decentralized platforms, he underscores the importance of perseverance and strategic investment in the cryptocurrency space.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.