Why risk it in crypto?
Crypto is a scam.
You will lose all of your money.
These are the kinds of things we here from governments and financial institutions. From within the cryptosphere, we can call it FUD and have a thousand reasons as to why they would be spreading this kind of misinformation, with most of them being for nefarious reasons.
However, do they ever stop and ask themselves why people are willing to "risk it all"?
I don't expect them to have great reflective abilities and due their very nature, no self-reflective abilities at all. Essentially, these organizations have narcissistic personality disorders and no matter what they do wrong, they will cover for themselves, protect themselves, ignore responsibility. Is it any wonder they don't understand crypto?
But, if they asked the simple question of why people are willing to risk their financial resources on crypto, they would be forced to see their failings. The reason most people are in crypto isn't out of greed, it is because the traditional economy as it stands doesn't work for them. The economic conditions are failing the vast majority of people in this world, no matter how they strive for better - which is why the "problem" of the wealth gap keeps increasing. It isn't a problem at all, it is a feature of the design.
The conditions are such that money begets money, but there is very little on offer to get the monetary resources in the first place for the average or even above average people. It is a constant grind for almost no reward, taking away the dreams of owning a home, a car, or even having a holiday for many. It doesn't matter how you play the game, because the system is rigged.
So, regardless of the risk involved, an average person can see the chance of inflating their return, to close the ever-widening distance between the top - and everyone else. But, they aren't doing it for Lambos anymore, they are doing it for home deposits, to cover student loans and Christmas presents.
People want a better life, opportunity and the feeling of a little bit of financial security; and the current economic conditions do not facilitate this. As a result, we are seeing more pushback from the citizens, riots and violence, as people who have been disenfranchised and feel they have no other alternative, take to the streets to have their voices heard. However, the people who realize there are alternatives, take to the blockchains.
Bitcoin itself was created as a direct response to the handling of the housing market crisis that led to a global economic meltdown. The system was failing us well before that, but this particular failure was met with the introduction of blockchained economies, and decentralized finance, with them propagating and expanding heavily since that January 3rd in 2009. For the first time, people were able to take control of their own financial wellbeing, without having to rely on a government to do it for them.
It has been almost 13 years since that Genesis block was mined and the world of crypto has changed drastically, but the traditional economy has remained the same. It is not built for the people to proper, it is for the people to serve so that a reducing amount of participants can increasingly benefit. This drives more hardship and division which ultimately leads to a growing sense of disquiet and a search for alternative possibilities.
Humans are born to be creative and take risk, but for most, it requires enough pressure to be applied, as we do not move willingly from our comfort zones. As the saying goes, necessity is the mother of invention and there is a need for economic development, but it is not in the best interests of those who have the power to change, to actually fix it, because they are benefiting from the features if system as is. Even if they would like to have improvements for everyone, they work on incentives and they are not aligned for that to happen.
So, it is up to us. And, this is also why taking responsibility is such a core tenant in crypto participation. "Responsibility" is akin to ownership and we are naturally incentivized to protect what we own or feel responsible for. And this is one of the fundamental flaws in the current economy, as it encourages the ownership of nothing and proxying responsibility to those who do own instead. What is there for us to protect in the current global economy, a system that works against us, crushes us, holds us back from being the best versions of ourselves?
For the greater good?
What is the greater good when all that we get to see is a narrow stream of privileged get rewarded, while everyone else works to craft the reward?
These are questions that should be reflected upon by those who "have the power", but they won't be, so it is up to us to stop proxying them to think and act for us, and work under our own power instead. Money or whatever form it takes for trade is energy, it is power. It can be used in countless ways that influence our lives and when we own nothing, we have too little to trade. This makes us passive agents, servants, slaves to those who have the economic energy to drive us for their own ends, which is inevitably, to gain more power, in whatever form that energy takes.
We can do better than we are, but we have to take a "risk" by backing ourselves to be able to do better than what we have provided for us now. This is the risk of crypto - because if it fails, we fail.
People are scared of failing, which is why playing on our fears is such a powerful control mechanism and so lucrative. Crypto FUD is so engaging and so influential, because most people are triggered by the emotional response of being faced with losing their money so hard, that they fail to see the truth of the matter. What they are actually giving up to satisfy their need for security, is their own economic, personal and community wellbeing, because they think that it is the money that matters.
Money doesn't matter. It is just another token.
It is the utility that matters.
In the current economy, it is used to control people, keep them subservient, aligned to the will and desires of those who hold the power.
However, in the world of crypto, energy really can be created from nothing. New power can be generated and used in ways it hasn't been before. Ways that help us be our best.
They will never ask the question.
Ask it of yourself.
Why risk it?
[ Gen1: Hive ]
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I come from such country where the system is so bad, without crypto people could literally be roaming on the streets without any means to take care of their immediate need.
For me, i'm one of such people who crave sustenability rather than lambos or wealth or millions.
It is going to be interesting in the near future with crypto rich spread around some of the poorest places on earth. I wonder, will they behave any better than the governments they have circumvented?
For sure. There's no entity or institution as crude as the government in most african states. People would surely do better.
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It is so sad and annoying to see the government tender such law about crypto that it is illegal especially where I come from Nigeria to be precise, because anybody found into crypto is a criminal and this is insane to the people as crypto has really helped in one way or the other when there's no jobs for employment.
Do you have to hide your activity in some way? Do people talk about it within social circles?
There's nothing to hide since the earning on crypto is legit but it will fall on deaf ears to the government as they believe is another way of making money illegal
There is a lot of controversies related to crypto that go on frequently in the different markets. A lot of topics arise daily to debate on. I hope we soon find a permanent and a good solution to cryptos and the markets.
I am hoping there will be more of a free market decision making process, let users decide.
Yesterday I won $250 on a blockchain site where you make a deposit and not only you keep your deposit, but even gain a significant interest (20% APR). Plus you have a chance to win several prizes.
f***k lotto :)
I never win shit on these kinds of things - but I don't enter much :)
different people different review on crypto .....???
yes. but there is definitely an average in there.
What blows my mind here in the USA, is how much worse it is now compared to when I started my working career. I'm a baby boomer and the work hard, save money, pay as you go ideas worked. We had a very strong middle class that kept our economy strong. But now, the elite 1%, the corporate giants control it all. Our government has been bought, hell, think of this. The banks are now required to red flag $600 in a cash deposit, just a few years ago you could deposit $1 shy of 10k in cash. In the old days, cash was king. They want their piece of the action now and will regulate to make sure they get it. Makes me sick.
The more I learn about crypto, understand it's potential, the more risk I am willing to take. After the 2008-9 financial meltdown here, my eyes opened wide when all these hugely wealthy corps got rewarded for their greed, but worse than that, it was us, the little worker bees that got strapped with the debt. Our wages have stagnated for over a decade now. Jobs were outsourced for cheap labor, crushing our labor unions. Is it any wonder why people are taking to the streets in protest? We are in crisis all over the world.
Blockchain is changing the rules, for once, the little guy has a shot to break free of all the BS.
It is insane what is going on around the control of money now and it is no wonder there is rebellion happening. Much of the social movement nonsense is rooted in economic inequality on all sides, while the tiny minority polarize the population to protect themselves.
AI/ automation is going to make the problem worse, but that is the advancement of technology. The issue is, there will be many children left behind because literally, no one cares enough to change the system. Well, fuck that... we will change it.
Crypto gives equality and freedom to everyone, such is very expensive in my country, hence the reason we are ready to risk it all
risk is less risky, when it is calculated. Always calculate.
Sure calculated risk of course
However, the people who realize there are alternatives, take to the blockchains.
I have thought about it before. Far left or far right movement especially in third world countries will eventually come to an end. Because blockchain together with cryptos have changed the world. The coming generation will not follow those movements, but blockchain to use the "opportunity".
THey will come to an end - the real battle is centralized vs decentralized. So far, it has been the centralized that has been fuelling the division. The decentralized will unite peopl.
So freaking true!
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It is insane.
I hope you are tweeting about this ATH ;D
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The traditional economy has failed me over and over.
A lot of people in Nigeria have been failed by the corrupt government.
I have lost a lot in crypto but why do I still go back to crypto?
The reason is simple, the crypto space has given me more reasons to believe in the future than the current economy.
All I see the government do is to keep the money and power in their circle in my opinion
Yeah, I think you are not alone in how you are feeling, but you are in more extreme (earlier) conditions. The rest of the world will catch up soon enough and follow you in.
Getting into crypto is the only real true protection to the fiat system in my opinion. I like gold and silver, but ever since we went off the gold standard these metals are manipulated to a degree where the true value will never be allowed to appear.
Some say Bitcoin is going up, one could actually look at it as fiat going down, and if they keep up the printing in the same pace Bitcoin could reach numbers we never could imagine, and hopefully Hive too.
Governments are opposing crypto because of their own interests. However, as you rightly said Man is born to take risks. Life is all about risks and we should remember that no pain, no gain. So I will definitely risk and invest on cryptos because no other investment gives as much of gain as cryptos do. Thanks.
I think people does not take anymore seriously those lines . The era has gone . Now most youngsters worldwide investing major income in crypto because its easy way to make rich quickly and thats why banks and government are little worry because it seems they can't control and censor people choice and slowly they loosing the grip .
Good Crypto like Hive definitely a source of passive income where earning opportunity is really broaden. I am finally happy how the hive performing at this time which it suppose to be deserved .
I am kind of glad I knew nothing about crypto when I first joined steem. All I know is my wife told me I could read books for free. Amazon Kindle's offering on free were dwindling a lot and they were all just very short 20 minute reads at most and called books. So I had become disenfranchised with amazon kindle.
Steem came at a good time for me, do to limited extra funds because of the surgery, so I jumped in. I did find a lot of stuff to read, and there is still a lot of good stuff to read on Hive although I have not been in a book reading mode as of late. I took that initial seed offering of 15 Steem loan and am now approaching 10,000 HP.
The $2.00 price of Hive might be an ATH and might be the last ATH, but I still feel Hive will continue to grow in importance. I never dreamed my account value would be at what it is today, the biggest it had ever been was at about $2,000 and that was a long time ago on another block chain.
Why risk it? Indeed why, I have basically nothing invested in Hive, when I bought my splinterlands cards it was over on another block chain. So I have no real Skin in the game, what I do have in the games is a lot of enjoyment from both chains. For me there is no risk, up or down price wise I will still be here. One day in the future I hope to be able to convert some to fiat and pay a few bills or buy a few new toys, but honestly right now Hive is a pretty nice playground.
Next stop $3.00 Hive?..who knows.