Contrary to Your Belief (System): Why Crypto Deserves Your Respect
Before we dive in, take a moment to consider what you feel about Cryptocurrency + why?...
Many of you are already familiar with the name Bitcoin as an example of Cryptocurrency.
Bitcoin was created (after following the concept of an anonymous Satoshi Nakamoto) to provide an alternative for the centralized banking system, by using an ethical technology called blockchains.
Centralize- to bring under one control, especially in government
A blockchain is a chain of blocks linked together that contain information; similar to a digital notary. A ledger that’s distributed openly peer to peer that contains unique information/property that is nearly impossible to change once it is recorded.
In this digital currency space, Bitcoin was the first generation to use this technology. Despite its early ups and downs, very smart people realized that Bitcoin was not using its full potential as a blockchain.
In 2013, 19 year old (who created Bitcoin magazine) Vitalik Buterin conceived what would eventually launch as Ethereum in 2015.
Ethereum being the evolution of Bitcoin, set out and achieved to create a blockchain system that people could build programs on top of; similar to how apps can be built on iOS or Android.
Though having decentralized smart contracts was exciting, the problem that both ETH +BTC faced/faces, is their lack of ability to scale efficiently for mass adoption.
This bring us to today, the 3rd generation of Cryptocurrency.
Think about the 3rd generation of anything, especially technology… iPad, iPhone, and pretty much everything else. The difference is usually better user experience and many more capabilities.
Now we have a number of 'Altcoins' set up to either solve this problem of scalability +/or operate on the solution for scalability, making Crypto that much more user friendly and adoptable. Currently the two front running projects for the solve being Cardano, created by Charles Hoskinson, and Polkadot created by Gavin Wood; both who were co-founders of Ethereum, which also has it's own update set to launch in the coming months called Ethereum 2.0.
(...But don't sleep on Zilliqa.)
Altcoins- digital Cryptocurrencies that serve as alternatives to Bitcoin
Now that we’ve covered some of the basic history, lets review some of the concerns that many people have with Cryptocurrencies/Bitcoin.
One of the first things that turned many of us off to the idea of adopting Bitcoin in it's early phases was its unpredictable price in volatility; which made sense early on from the surface.
But after revisiting and taking a deeper look, it’s easy to see why. There were far less users before 2017. Since then, as you see in the chart below Bitcoin has only grown, and is just now really heating up towards far greater mass adoption.
[If you look at the long periods of consolidation, it makes sense that people would sale their BTC at new record highs to take (some) profits.]
As Crypto makes more and more millionaires and billionaires+, it’s more than likely that you see healthy volatility by re-investing in other up and coming Altcoins with smaller market caps that will only strengthen the stability + growth in Crypto. While at the same time strengthening the economy as people cash in from digital assets to purchase products, homes, and experiences.
MUCH MORE THAN MONEY
So far Crypto may seem to be all about the money, which it is for many; but the money just happens to be a natural by-product of *good Crypto services (+ timely opportunities).
Bitcoin was not created to be worth thousands of dollars more than Fiat (necessarily). Remember, Bitcoin was created to be an alternative to the corrupt centralized banking system; which happens to be at the root of the problems many of us are still outraged by today.
Another reason people steered away from Bitcoin early on was the negative association with the dark web, and people using to buy/sale illegal substances anonymously.
This never made sense to me because many more people do this with cash already, all you have to do is pull up to any ATM machine. This just seemed liked the mainstream media/governments attempt to dismiss what they didn’t (want us to) understand using fear as they have done for centuries.
[This is also a scare tactic that big money (who owns mainstream media) uses to manipulate the markets. Shaking everyday investors like you and I into selling our digital assets so they can buy much more at lower prices.]
This brings us to one of the biggest lessons in Crypto. DO YOUR OWN RESEARCH! Dig deeper than what you hear from the first source...
FEAR ACTS ON ASSUMING WORSE CASE SCENARIOS TO BE THE NATURE OF REALITY
(VS. UNDERSTANDING THE MANY VARIABLES IN WHAT IS HAPPENING + WHAT HAS HAPPENED.)
What if people weren’t in challenging circumstances they were in?
What if they could put all their intentions on their hopes and dreams; while developing their own families and communities?
Kids don’t start off wanting to sale drugs, rob, steal, or even hate. It’s usually due to the circumstances that transforms their instincts into severe survival mode.
For many, if you travel down the root of these circumstances you come across Redlining. A definite way to lower the value of minority assets tremendously; effecting multiple generations for decades still up to this day.
THE REALITY OF DECENTRALIZATION
The primary reason you should respect Cryptocurrency is its ability to bring societal change. Projects like Cardano (+Polkadot) allow people to not only make money by trading (early), but also provide resources for many other big ideas to change the world; all decided by an ethical peer to peer governing processes that encourages positive community engagement.
Gavin Wood, Creator of Polkadot.
Charles Hoskinson, Creator of Cardano.
How do their mindsets compare to the leaders you defend +/or serve everyday?
THE CRYPTO COMMUNITY
One of the most impressive things I've witnessed in Crypto so far is the passionate, +informative community for change. Even those who are primarily in it for the money.
YouTube has been a free resource for learning a range of information on Cryptocurrencies; from a variety of experienced everyday people who (usually) don’t take themselves too seriously and want to see everyday people like you and I accumulate more wealth… as well as for us to like and subscribe:I
(Author of BITCOIN & BLACK AMERICA, Isaiah Jackson)
Lo Key Money (Fundamental Crypto Knowledge+)
Bit Boy Crypto (The Crypto bulldog to the institutions +espn radio of Cryptocurrency)
Donte Walker Crypto (On point Crypto chart analysis)
Ellio Trades Crypto (Knowledgeable NFT enthusiast)
As good as there is good, understand there are still sharks in the water. There are many people out there looking to take advantage of others, especially unaware new users.
How?... Usually by impersonating Crypto services + advertising free coin giveaways on social platforms, asking you to send coins, in order for you to receive more in return; or by impersonating as wallet support assistance, asking for personal details of your wallet that you should never give to anyone.
The best way to steer clear of these scammers is to protect your personal wallet information, and to DO YOUR OWN RESEARCH! It doesn't take too much 'time' for you to dive a little deeper finding reviews and experiences from others to help inform you on YOUR way to YOUR best decisions.
DISCLAIMER: I'm NOT a financial advisor, these are my personal views from observation and personal experiences.
THE FUTURE OF FINANCIAL LITERACY
As you've probably found out by now, Crypto is a lot more engaging financial experience, but why shouldn't it be? We've been living in a system that has pretended to have all of our best interest in mind while their actions have proven otherwise over and over again, as we passively suffer the consequences.
Taking a couple/few hours per week from the distractions we love so much could easily change the hamster wheel of a lifestyle we hate to live in a matter of weeks/months/years.
RIP Nip. A True Visionary (5:00 min mrk- Cryptocurrency)
Thanks for taking the 'time' to engage in this post. I hope it helps all of us to see more efficient ways to make change outside of the current structure; compared to following the duality narrative inside the system that only strengthens the systems control. You win when you don't play (by their systemic dualistic rules), otherwise even when you choose you lose.