Summary:
In the video, the speaker discusses the concept of long-term thinking with regard to cryptocurrency, particularly focusing on the Hive blockchain. He emphasizes the importance of patience and understanding that significant progress takes time, drawing parallels with successful companies like Tesla, Amazon, and Coinbase. The speaker highlights the challenges and complexities involved in blockchain development and stresses the need for patience among community members. He mentions specific projects like 3Speak and Leo Finance on the Hive blockchain, underscoring the progress being made despite the time required for development.
Detailed Article:
The video delves into the topic of long-term thinking in the world of cryptocurrency, especially focusing on the Hive blockchain. The speaker reflects on the impatience often seen in the crypto community, where individuals expect rapid progress and results. He observes that many people fail to grasp the concept of long-term thinking, pointing out that significant advancements in technology and markets take time to materialize.
By referencing the history of Hive, the speaker notes that despite being relatively young, significant progress has been made in the last 13 months since its fork from Steam. He discusses the challenges faced by the blockchain due to the actions of the previous entity responsible for Steam's coding. The speaker acknowledges the hurdles overcome by the Hive community, highlighting the strides made in improving the blockchain's operations and reducing costs.
Drawing comparisons with successful companies like Tesla, Amazon, and Coinbase, the speaker illustrates how building a robust technology foundation and user base is a gradual process that requires time and effort. He mentions the importance of venture capitalists' long-term commitment to projects and how it aligns with the developmental timeline of technology-based ventures.
Specific projects on the Hive blockchain, such as 3Speak and Leo Finance, are cited as examples of ongoing progress within the community. The speaker emphasizes that while development may take time, continuous efforts are being made to enhance the blockchain's capabilities and offerings. He contrasts Hive's fee-less structure with Ethereum's high transaction costs, showcasing the advantages of a blockchain with fewer barriers to entry.
Overall, the video serves as a reminder to the crypto community about the necessity of patience and long-term vision when it comes to blockchain development and project success. The speaker encourages viewers to consider the journey of Hive and similar projects, reflecting on the steady evolution and growth that culminate in meaningful advancements over time.