Cryptocurrency: With Abundance Comes Huge Growth
The discussion about abundance extends far beyond the world of cryptocurrency. Many in the tech community are promoting the idea. These are the people who are on the frontlines, involved with companies that are creating cutting-edge stuff.
Yesterday, there was an article that discussed the decentralized Internet and how it could benefit Latin America. It delved into how peer-to-peer networks would bring those economies forward in a dramatic way. Having a digital economy generates abundance because a country is no longer constrained by what it has physically.
What is interesting is most people are still looking at the world like it is 1995. Age-old beliefs are still held. It is time to change this mindset.
For example, when it comes to investing and returns, what is commonly sought after? Many will state that a 10% return is outstanding. Historically, this is the case. However, why do we settle for this when so much more is out there?
The short answer is this is what we believe. Until our mindset is altered, most are going to be mired in the same cycle.
Fortunately, it does not take a lot to break out of this. The reality is there is a lot more taking place which provide opportunities. New systems are being constructed that completely change the game.
In other words, get ready for 1,000X returns.
Technological advancement generates huge abundance. This includes financial which, anyone is crypto knows, is showing up on a weekly basis.
What has been the best investment over the last 12 years? Bitcoin. And what was the return since inception? At the end of 2019, it was 8,990,000%.
Bitcoin actually makes the 1,000X return look small.
The stories of legendary returns and enormous wealth generated by Amazon, Tesla, and Microsoft are well known. Who wouldn't want Tesla right now at $18 a share? Or Amazon at $6? How about Apple at $7.
What is really interesting is these stories are going to become commonplace over the next couple of decades. We are dealing with some very powerful technologies that will create abundance like we never saw before. The question is who will be involved with it?
Historically, there were only a few who were able to benefit. This is no longer the case with cryptocurrency.
We see projects that are starting today, with tokens, that will 1,000X over the next 10-15 years. Of course, many, if not most, will not go anywhere so we have to be very selective.
Nevertheless, a mental limit is something we cannot put in place. There is a tendency as humans to only believe that something can go so high. We believe what we perceive to be believable.
There were a couple writers who were mocked when they wrote a book promoting the idea of the Dow going to 36,000. This was thought insane. No longer.
By the same token, many felt that a $3 trillion company was completely asinine (before there were $1 trillion companies). Now, with Apple and Microsoft both crossing the $2 trillion value, even $4 trillion doesn't sound outlandish.
Bitcoin at $100,000 is a level that many believe will happen. There is another group of people, smaller in number, who feel that we will see $1 million BTC. I am not going to argue against either viewpoint since it is possible.
If the above article is correct, and we do see a decentralized Internet forming, this will mean that data is also decentralized. The net result of this will be trillions of transactions each day travel through blockchain networks. Imagine the growth when going from a hundred million to trillions.
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The key transition for humanity is when we shift from the digital to the virtual world. That is where exponential abundance will take place. We saw enormous increases over the last few decades due to digitization. However, this will pale in comparison to what happens when the world goes virtual.
Suddenly, there are very few constraints on any economy. Unlimited layers can be developed that all have value and build upon each other. Those that are innovative and get in early will see outlandish returns.
Here is a big lesson that we need to learn.
Abundance is the elimination of FOMO.
In a scarcity world, we are all afraid of missing out. The reality is we are rapidly evolving to the point where, if one bus is missed, another one will come along shortly.
This means that Bitcoin already left the station, at least from the few dollar point of view. That does not mean it is the last one. We will see hundreds of more opportunities like Bitcoin over the next few years. Sure, they will be different in nature, addressing issues that are still out there. However, BTC will not be the last 9,000,000% return asset.
During the last crypto bull run, the marketcap hit $800 billion. Presently, without a massive bull, we are sitting at $400 billion. Granted, the Bitcoin bull did rear its head. Yet we must keep in mind that we still are 35% below the all time high.
Another bull run will push the total marketcap of cryptocurrency into the trillions of dollars. This was an industry that was exactly zero 12 years ago. It is likely that, by 2030, this will be pushing towards a hundred trillion dollars if the development keeps pace as it is.
Again, this might seem insane to some people. However, is it really crazier than what took place since April 2013.
Here is the Coinmarkercap.com chart from their history (this is the oldest that I could find):
The entire crypto world was, at that time, about $1.5 billion, with Bitcoin making up almost all of it.
Today, 7.5 years later, it is about $400 billion. Is it any crazier to think of going from that level to $100 trillion as compared to going from 1.5 billion to where we are now?
After all, we only need a 250X from this point. The move since April 2013, was a 266X.
Get ready for a much wilder adventure over the next decade.
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