It is now trading at $1.59.
What is it with these guys doing crazy stuff like pumping stable coins and supporting centralized hostile takeovers? Truly mindblowing stuff, and this is just the beginning.
Emotions run high and otherwise logical people end up making extremely rash decisions. When money is involved, everyone goes crazy. The thirst is real.
Ah, indeed it is. The insanity hasn't even yet begun; we haven't even breached Bitcoin all time highs yet.
Remember back in 2018 when everyone and their mothers was talking about how this was a one-time event exactly comparable to the Dot Com bubble? Yeah? Where are those people?
They are still around, but they are silent. Because they were wrong, dead wrong, and people like that refuse to ever admit they are wrong. They simply fall silent and wipe that mistake from memory, doomed to repeat the past. Trust me, those self-righteous pseudo-intellectuals will be back in full force eventually, spewing out more equally-incorrect information.
This is going to happen again and again and again and again. Why? Because not only is crypto humanity's single greatest invention ever (potentially & speculatively), but it is also one of the most complex technologies out there.
What happens when you mix the world's most valuable & simultaneously complex abundance technology with a completely ignorant general population? Pure pandemonium. Again and again and again and again.
You are going to be more crypto savvy than the general population for the rest of your lives. Guaranteed. Being involved with crypto today, in any capacity, is like being involved in the Internet back in the early 90's. The Roaring Twenties are back.
Over the next year, money is going to be flying everywhere at every project. Doesn't even matter if the idea is technically feasible or not. Investors won't know the difference even if they attempt to do the proper research. That's just the name of the game when the technology is simultaneously so profitable and so complex. Add razor-thin liquidity to the mix and volatility hits the fan at high speeds.
Unit bias is going to reign supreme. I can't tell you how many times I've given crypto advice to people and they're like, "Well obviously I can't buy Bitcoin because it's too expensive." Even after lecturing them multiple times on unit-bias they'll say something like, "Well, I went with Dogecoin because it's cheap." Like, are you serious? Did you just ignore everything I said or what? The brain does what it wants to do.
Not that there's anything wrong with Dogecoin. The technology may be redundant but the community is strong. Seeing as community is the foundation of crypto, I'll let it slide. The problem here is that it's probably not the best idea to invest in a community that you aren't even a part of. My personal rule for crypto investing is to stack the coins I actually use. I refuse to invest in estate based on pure speculation.
We can always count on the market to be greedy. We can always count on the market thinking that Bitcoin is 'overpriced' because 'big number'. Everyone wants to find the shiny new thing that's going to go x1000 and "kill xyz". Spoiler alert: This space is not competitive.
At the core of all the confusion as it pertains to crypto is the literal foundation of the entire space. We were all trained from birth to believe that the world operates in a certain manner. The strong conquer the weak. Big fish eats the small fish. Dog eat dog.
This new emerging paradigm is so absurdly foreign to the vast majority of the population that an abundance of false projections are cast upon it like shadow puppets telling some crazy made up story. No one even knows exactly how the legacy economy works. How in the world are they going to figure out whatever this is?
No one knows for sure. 2017 was the mega-bubble ICO craze. 2021 is primed to be the DeFi and institutional investment craze. If I had to guess, I'd say that 2025 will be the mega-bubble fueled by gaming. Perhaps 2029 will be the "mainstream adoption" phase. Who knows? My guess is as good as any's.
2021 is going to be an absolutely batshit year, not only for crypto but for the entire world. Decentralization is cracking the foundations of the old institutions of power, and in response we see what they do best: impose more and more draconian measures out of fear of losing their power. Ironically enough, that might be exactly what causes them to eventually shatter into a million pieces.
Trust is at an all time low. "Epstein didn't kill himself" was a meme that went viral. We wouldn't have seen something like that even ten years ago. The younger generations are waking up to just how broken this system is that enslaves them while giving little in return.
That which does not bend, breaks. Just like we saw with the advent of the Internet, those that tried to fight it head-on using traditional means found their businesses swept away by abundance technology. The only institutions that survive the coming storm will be ones that adapt to this new paradigm.
Think the ERC-20 ICO craze was full of worthless shitcoins? Just wait for central bank digital currencies and corporate coins to pop up! Yikes!
You never know, some of them might actually be valuable. A coin like BNB is like stock 2.0 for Binance. A Tesla/Amazon/Google coin may very well have a lot of value and strong community. That's what this is all about: community. Countries and corporations already have those built in via citizenship and branding.
A legendary amount of liquidity is going to slosh around over the next year. We already know the FED is going to print as many trillions as they have to in order to keep this zombie economy afloat. Their keys to power (corporations and governments) demand it, and so it shall be.
However, if there's one thing that corporations don't like, it's losing money. Wouldn't it be nice if there was a liquid asset out there that didn't get devalued like USD? Gee, let me get back to you on that...
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