In this article, we will delve into the predictions, dreams, and delusions for the crypto space in the year 2024. I reflect on their journey in the crypto world and the hunger that has driven them. We highlight the potential for anything to happen in this space due to its uncharted territory and constant evolution.
Kneel, Yield, Comply (KYC):
I reference the importance of KYC (Know Your Customer) in the crypto industry. We discuss the challenges faced by the industry and the pushback against regulations. Despite the hurdles, the author believes that the industry will continue to fight for privacy and security.
I reflect on the immense market cap drop in the bear market, where the total market cap of cryptocurrencies fell by $800 billion. However, we emphasize the resilience of the crypto community and their belief in the long-term potential of the industry.
TVL Reaching $1 Trillion:
I share their dream of crypto's total value locked (TVL) reaching $1 trillion. We highlight the growth and adoption of decentralized finance (DeFi) protocols and predict that this milestone will be achieved in the current market cycle.
The Machine's Awakening:
I discuss the rise of AI and its potential to change the world. We believe that crypto plays a crucial role in empowering AI and enabling it to impact the physical realm. This convergence of humans and machines sparks their imagination and raises questions about the future of humanity.
Humans + Machines:
Building on the previous point, I predict that the crypto industry will increasingly involve humans and machines working together. We note that this partnership will lead to unprecedented advancements and will spark a speculative mania. The industry will transition into one of humans + machines on a grand scale.
The End of Financial Elitism:
I reflect on the traditional financial system and the products that cater mainly to the elite. We believe that crypto disrupts this system by offering permissionless access to financial services for everyone. This shift levels the playing field and promotes inclusivity and equal opportunities.
I discuss the concept of computational immortality, where crypto networks and artificial intelligence work symbiotically. We explain how crypto networks rely on humans to maintain and support them while AI provides the intelligence. This partnership allows for perpetual operation and evolutionary advancements.
The Paradigm Shift:
I highlight the paradigm shift brought about by crypto. We emphasize the move towards open-source, immutable, and unstoppable systems. Crypto removes the need for intermediaries and replaces them with smart contracts, incentivizing people to participate willingly and revolutionizing the way business is conducted.
Becoming Part of the Market:
I distinguish between bad traders who aim to beat the market and good traders who aim to be a part of the market. We believe that the industry is not just about speculation but about active participation in the ecosystem. This mindset shift is crucial for long-term success in the crypto space.
Migration, not a Cycle:
I conclude by stating that the current state of the crypto industry is not just a cycle but a migration. We predict that anything that can be tokenized will be tokenized, and tangible assets will find their place in the digital world. This migration signifies a transformational shift in how we perceive and interact with value.