And he saith unto them, Why are ye fearful, O ye of little faith? Then he arose, and rebuked the winds and the sea; and there was a great calm.– Matthew 8:26 KJV
A couple of months of sideways action and you cretins are already throwing your hands up in the air as if the jig is up. Have you no backbone?
Yes, Bitcoin exploded in price yet again, and yes, we have seemingly “topped out.” This has brought along with it the possibility that this whole space can and will enter another bear market. Talks of an “echo bubble” saturate crypto twitter. Some of the most influential people in the space are freaking out and talking about us returning to prices as low as 1000 USD. So many people in this space are spineless, I swear.
As much as we all like to joke about this being a Ponzi–and many projects certainly are–this is exactly the technological revolution you believe it to be. Yeah, it’s kind of funny (read: disconcerting) that people are making major financial decisions based on a meme prophecy from 4chan. With that said, your intuition is not wrong. We are witnessing a global paradigm shift. People may have whatever opinions they want to have about the situation, but we are transitioning to a global society–even more so than we have already.
Since I am not a soothsayer, I cannot foresee the actual future, but let’s use some basic truths that we do know and extrapolate together about the outcome.
- It is not possible for the government to effectively tax crypto.
- peer-to-peer transactions cannot be put back in the bottle
- blockchain creates a public immutable ledger, which provides stability in the ever-changing online environment.
These three facts alone are enough to with near certainty account for the continued adoption of blockchain. Is it disappointing that none of your normie friends “get it?” It is, sure. Does that mean that this is all going away? No.
Here’s the deal, if you’ve become jaded and need to remind yourself about how early you are I implore you to go to a bank and try to open an account. If you have an account, try sending a wire transfer. Try emptying out your 401k or trying to transfer your IRA from one bank to another. You will see very quickly just how early we are to the party. That’s just for cash and equity which are for the most part liquid. How about selling or transferring ownership of your mortgage. Give that a shot and then get back on twitter and talk about how this is a Ponzi.
Outside of financial applications, we are seeing de-platforming and ever-changing algorithms in all of the major players. The digital mob is pressuring Google, Twitter, Facebook, etc. with their stupid opinions. The culture war is in full effect. Even Wikipedia is succumbing to the mob and changing entries to reflect the victimhood mentality of identity politics. If our ability to research and converse openly is impacted, and facts are literally being rewritten, there’s no telling how much society will degrade. It is only through the creation of blockchain-based platforms that we can succeed as a society. When we can know without a doubt that an event or a piece of content occurred and it hasn’t been altered after-the-fact, that’s when we can begin to really leverage the power of the internet.
It’s such a meme at this point, but it’s true. You are early. Calm down. Walk away from the computer screen, go socialize and understand your place in all of this. Years of bear market ironic shitposting has begun to seep into the crevices of our mind. A lot of us are starting to believe our own jokes and it’s probably not doing much for the overall health of the space. I’m not telling you to stop shitposting–it’s a lot of fun–just don’t lose sight of where we’re heading. Keep networking and keep building.