Crypto isn’t a get-rich-quick scheme. Crypto isn’t most people’s ticket to millions. It could be, but it isn’t. In almost any crypto investment community online, you’ll find a horde of people clamouring, saying something like, “[X cryptocurrency] to the moon!” or “[Y crypto] to 100k?” While I wouldn’t be against my portfolio growing in value, these people are missing the point entirely.
Crypto represents a power shift. Crypto is a silent protest against the status quo.
While shifts to centralization in political and societal organization may have pushed humanity to our current level of societal development, it’s difficult to look at the financial system’s inequality, governments’ irresponsible regulation practices and hedge funds’ influence over the markets and say that our current system works. A financial system that excludes people and exacerbates inequality was never going to be viable in the long term. We were eventually going to wake up to the circus that those in power have created.
If crypto continues to grow, it won’t just be our financial system that changes — the foundation of society will change. The entire world, as it stands, is built on centralization. Jaeyoung Choi
What’s important, however, is that crypto today is the beginning of a societal recognition and protestation against the decades of banking and financial industries’ exploitation of the poor, such as through state lotteries and payday gambling. Crypto tells us, “You don’t have to live that way anymore.” Current cryptocurrencies may not even be the currencies of the future. They could just be the catalyst to a bigger financial revolution. In a couple decades, people could look back at Bitcoin and see our equivalent of dial-up internet — antiquated and laughable.
Alexia Nizhny/DFP STAFF When you ignore Bitcoin, Ethereum and every other crypto, you’re mostly left with stocks, gold, real estate, U.S. Treasury bonds, derivatives and savings accounts. What are the alternative methods of value storage?
News Highlights Business
- Crypto is a silent protest – The Daily Free Press
- Check all news and articles from the Business news updates.