Picture a day a few years from now, we’ll say September 2021. The stock market is in panic again due to another crisis like the one seen in 2008. Another big bank, lending or insurance company is making headlines for it’s role in some kind of large scale illicit activity that benefits the few and robs the majority further into massive amounts of debt as the government comes to the rescue once more with your tax money, and an all too familiar pledge for better days ahead for all. But this time, it is different. This time, the people start to opt out of that system that has done so much harm to them and their country over the generations, but this time there is a new tool to combat this bad behavior. This time, investors put more of a stake into cryptocurrencies as they look to store their cash into a new safe haven for their financial futures.
Gold and silver were the big winners of the last economic recession, with gold prices spiking at $1800 an ounce and silver $50 an ounce. Some people thought the American economy was going to crash entirely as the stock market was down to it’s lowest levels in decades, unemployment was at record levels, and money with intrinsic value was in high demand. Things got pretty ugly for the next few years, as the United States and the global economy had to shake off the bad sentiment. It was out of the ashes of that 2008 economy that Satoshi Nakamoto created Bitcoin; perhaps to ensure that there is an option for people if something like that happens again.
Fast-forward to September 2021 and we have our next too big to fail corporate bailout of a corrupt bank, lender, insurance company, etc. This time, the bailout is in the order of tens of trillions of dollars. We are once again infuriated with our leaders for going through with this highly unpopular decision to (yet again) exponentially further the debt on the United States while leaving the major white-collar criminals free of any prison time for their dirty work, and actually take profit on the situation. But now the people do what they once did not have the option to do; boycott the financial establishment via crypto investments.
In this vision crypto finally shines as the digital gold, silver, platinum that it was designed to be. This future world is now in a period of mass adoption into cryptocurrency, as it is now accepted in most retail and online shops, payroll gives the option to get paid in Bitcoin and Ethereum, and physical currency ceases to circulate in most countries as this newer form of currency becomes ubiquitous as a steady payment and investment vehicle. The HODLers from years past are now all gathering in festivals full of Teslas and Lamborghinis to celebrate their newfound mega wealth. The bankster’s losses are now the people’s gains.
Wake up! This article isn’t over yet. There is still one thing you’re forgetting. That last paragraph was real nice and all, but what about those weak hands? The same ones that panic sold their stocks to buy in to crypto during the market panic of 2021. Those same weak hands that would inflate cryptos in the short term of a panic might likely sell if things improve, or appear as though things are improving (i.e. the banksters put the sheep’s clothing back on and play nice for a little while, or perhaps flood you with news about crypto markets crashing). Then, we would see some receding value again as that sissy-handed money works its way back into the fiat stock system again.
Perhaps in all of that back and forth, a few buyers who got into crypto from fear buying decided to actually keep their investment in crypto because they gained some courage towards their new purchase along the way. Perhaps the few grow to more and more over the next few months and years of market dips and bubble bursts and corrections. As the message gets out that cryptocurrencies are valid and stable instruments that give people options to hedge themselves against unsound money, and with a stable price history now forming with a decade of data; this whole new organism has beaten all odds and is now meaningfully disrupting an otherwise fixed fiat monetary system, and cryptos look like they’re here to stay.
What will the old system’s crashing take down with it? Hopefully all the fraudulent and crooked aspects of itself (and humanity) that has wreaked such havoc in our governments, our culture, our human society as a whole, and our planet in ways it may take millennia to recover from. It has now become evident that with new kinds of money, better ethics are being applied and ways of seeing and storing value are evolving to fit the various human and planetary needs. We might be on the right track to something great.
Marcus Henry is an American Journalist with over 10 years working in tech. He has been actively involved in the crypto community for the past two years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections and conducts interviews with industry professionals and community members.
Follow Marcus Henry on Twitter- @MarcusHenryHODL
Featured Image Source: Pexels
Source: Read Full Article