Cryptocurrency 2020: What YOU Need to Know!

by birtanpublished on October 1, 2020

ladies and gentlemen today I'm going to
share with you my thoughts about what we
have to expect from cryptocurrency in
2020 specifically and also what to
expect in the following decade now if
you've watched any of my videos before
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without further adieu let's hash it out
in technology the start of a new decade
is an exciting way point and what is
usually exponential growth due to the
fast pace of innovation from year to
year for a cryptocurrency I believe that
this new decade will bring the
equivalent of the Internet's Netscape
moment for the cryptocurrency space this
will be the decade where we see projects
delivering on their vision projects
falling apart as well and precipitous
moments where cryptocurrency becomes
more usable for the mass audience
however in 2020 more specifically there
are three themes that I'm tracking and I
wanted to share those with you the first
one is that 2020 is probably going to be
the year of reckoning for a lot of
projects 2020 is already poised to be
the year of reckoning for many
cryptocurrency projects out there for
many projects during ico and 2017 2020
seem like a distant forward-looking date
on the roadmap where they had all the
time in the world to build what they
were selling with their ICO however big
names like aetherium Cardno Icahn alas
dose etc are all fast approaching the
time where they have to start delivering
on long standing promises to investors
and this is why I believe that in 2020
and likely in the 2021 it's going to
prove to be the make-or-break years for
these major players in the space
if aetherium developers for example
can't get the groundwork laid for
aetherium 2.0 and serenity with the
beacon chain going live by the end of
2020 will investors see red and make for
the exit if Cardno can't start hitting
key deadlines and get key updates like
staking with Shelley in smart contracts
with Gogan
how long will supporters remain patient
these are questions that no one can
really answer with certainty but what is
certain is that projects that deliver
high quality solutions in 2020 and
deliver on their vision will have
distinct advantage going into this
extremely consequential decade in crypto
so let me know what your favorite
project is in the comments and what you
want to see from them in 2020 I really
try and read every comment and I'm
curious to see what you guys think and
the second theme that I wanted to touch
on is that defy will continue its
explosive growth
20:19 into 2020 so 2019 was a great year
for decentralized finance products
otherwise called d5 and these are
essentially global more equitable
versions of financial products that
you've probably used like loans savings
accounts bonds trading services and more
I saw a chart yesterday on d5 pulse comm
that had the total u.s. devalue locked
up in d5 products at 750 million dollars
u.s. that's pretty significant now there
are D five products that are oriented
towards one specific product or niche
then others that are trying to be
platforms to make other d-phi products
for example a popular stable coin dye is
part of the maker Network and that's
very much designed as a decentralized
Democratic version of a reserve banking
system with dye being a stable coin this
provides a stability or less volatility
that's generally required for financial
transactions and financial products to
be really relevant without sacrificing
the ethos and malleability of
cryptocurrency from a tech perspective
maker is very much oriented towards
being a platform for other dphi products
but on the other hand there are
interesting products like block by
compound and more that allow you to lend
out your cryptocurrency holdings for
interest these were really all just
decentralized forms of financial
products you see in traditional markets
today but the difference is is that the
customer gets a far more equitable share
of the proceeds and profits in
comparison to some of the traditional
company offerings out there in a
financial services space now I've seen a
wide range of predictions for how much
money will actually see pour into defied
this year but in my opinion it depends
heavily on whether or not legitimate
products continue to get built and the
products that are out there today that
have had some success whether or not
they continue on the path that they've
been going in delivering high-quality
valuable products to people and
delivering on the promises of interest
and other different products that
they're offering to their customers in
the first place as long as those trends
continue I don't see why we couldn't see
over 1 billion dollars locked up in D 5
products in the cryptocurrency space in
2020 if not more so let me know what
your favorite D 5 product
in the comments below and how much money
you think we can actually realistically
see go into defy products so the third
and final theme that I wanted to share
with you today is that we're likely not
going to see any backing down from the
regulatory scrutiny that crypto is
starting to see so virtually every year
since the dawn of cryptocurrency and the
events that unfolded with Silk Road and
other popular illicit uses of crypto
currencies there's been this distinct
animosity between certain lawmakers and
the crypto space many people were
shocked at the laissez-faire approach to
icos in 2017 but the SEC has now started
cracking down on those retro actively
with 2019 seeing block 1 the parent
company behind a OS and SIA coin the
company behind that starting to get
fines and penalties incurred because of
the way that they handled their icos way
back in 2017 2018 we also saw Libra
Facebook's bold attempt at a large-scale
cryptocurrency blockchain consortium
stable coins solution get absolutely
stonewalled and railed and congressional
hearings and despite that fact that
we're all wary of regulation in this
crypto space 2020 will be in my opinion
an extension of what we saw in 2019 for
better or for worse we'll see more
retroactive enforcement of ICO related
issues or penalties if you will we'll
likely see increased scrutiny on illicit
use of cryptocurrency we're likely going
to see more rules start to be formulated
and targeted towards exchanges and d5
products and all these different sorts
of things that we really saw grow a lot
in 2019 and I think in that regard we're
likely going to see privacy coins take a
heavy beating from lawmakers with all
the rally and cries against encryption
in messaging apps of all things it's
gonna be very tough to fight that battle
for privacy coins in the lawmaking space
so we'll have to see and monitor how
that's gonna be however there will still
be positives in this whole entire
regulation spectrum there are allies
even with big names in the government
who believe that cryptocurrency and
blockchain tech should be allowed to
grow and expand with limited
not only that but I wouldn't actually
mind more clear rules in terms of how
taxes are treated with crypto currencies
I wouldn't mind more clear rules about
what's allowed in an ICO or a token sale
and what isn't
I'd be very curious to know about a lot
of these things especially when it comes
to the technology side and the reason
why I think even though regulation is
scary to a lot of people clarity is a
good thing and when there's regulatory
clarity instead of spending tons of time
and tons of money on regulation trying
to follow policy trying to figure out
what the laws are trying to avoid
litigation these projects that sometimes
have a limited budget can spend that
time and money instead on building
something valuable rather than trying to
fight legal battles and worry about
policy that they shouldn't have to worry
about because it should be very clear so
take it from my perspective and it's my
opinion everyone has entitled to their
own opinion I think regulation to an
extent is good and necessary
over-regulation very bad now of course I
don't have a crystal ball well I have
this thing but it doesn't really show me
the future and these are just a few of
the big themes that I'm envisioning for
this year but I may make a second video
with a few more that I'm considering to
be eminent in 2020 so if you're
interested in hearing more thoughts
about that and beyond in crypto or you
have your own ideas about what we can
expect in this decade or in this year
specifically definitely let me know down
in the comments and we can have a chat
about it and as always guys thanks very
much for watching and don't forget to
check out some more cool content I'll
link that up on the screen in just a
thanks very much again guys Cheers

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