Crypto Markets Have Crashed. Now What Geniuses? | by Tim Denning | Mar, 2022
Thoughts to help you understand the chaos & make wifi money.
Image Credit–HunterFreeman
$100K Bitcoin didn’t happen.
The geniuses were wrong. So now what? Is it all over red rover?
Not yet. Let’s go deep.
The world will never be the same.
Maybe you miss it…
Canadian truckers used cryptocurrency to pay for their protest. And over on the other side of the world, Ukraine used crypto to fund its war efforts.
The President of Ukraine and his team simply went on Twitter and said, “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.”
The crypto price may be massively down from all-time highs, but the good it’s doing in terms of promoting freedom is bloody incredible.
If stocks go down then so does crypto.
We know that now after the 2020 health crisis. This trend will continue. What it shows is that crypto is no longer Big Bird in the board room of major corporations. Crypto is mainstream. It’s part of everyday life.
Like I always said…
Crypto is just the new name for tech stocks
Lol.
Stocks have crashed because of the after-effects of coroni-roni and the war that has broken out. Make sense. Nothing new here.
The way forward is to see crypto as just another financial asset. How do you treat stocks, real estate, and bonds? Apply the same logic.
There’s a heck of a lot of noise about crypto.
Most of it is nonsense from divas putting on a show for ‘likes.’
Crypto is a 5+ year investment. If you’re in it for less than that you’re going to end up with egg in your beer, as Charlie Munger says.
Nothing good in life comes without patience.
Calm your farm. Relax with Max. Take a chill pill. Watch some Bobba Fett. It’s all going to work out for crypto the same way it did for the internet after the 2000 tech bubble popped.
The stat that matters
I stay focused on the adoption curve. All the main cryptos have networks aka communities. I look at whether new people are joining the network or not.
Guess what? Network adoption continues to happen faster than the take-up rate of the internet in the 90s. Nice.
The coolest thing right now is the adoption of crypto by big brands. They’re all building out Web3 marketing teams, crypto features, and NFT functionality. Many crypto deniers miss this shift. If you deny crypto, what else do you deny?
Did we realllyyyyyy land on the moon? Just joke. Not.
Follow the facts and you’ll find better truths than broken opinions from brotopia who are in a panic about losing their trust funds to a dog coin. (Literally a coin of a cute puppy’s face on it meant as a joke, not an investment. Don’t get me started on the Cumrocket investors.)
99% of crypto will go to zero. Read that again.
So many people got into crypto not realizing that, beyond Ethereum and Bitcoin, most are unproven hype machines designed to take money from the uneducated and give it to the financially literate.
I have this conversation daily.
“Oh, you got into crypto. So good. You bought Ethereum too, right? Right?”
Nope. They thought Ethereum was too safe or didn’t have enough growth potential or was “too old.”
F*ck my life. Why do people do it? They work hard for money then throw it in the gutter without thinking twice. Breaks my heart.
The crypto crash has shown us one thing:
A bad investment is a bad investment despite how new or game-changing it is.
Crypto is the smartest people in the world exiting into their own economy — Naval
Now it all makes sense. A digital economy is getting built in front of our very eyes. It’s borderless. It’s freedom-first, sexy, fast, and highly automated.
Why did this happen?
Our trust in traditional institutions is at an all-time low. We’re sick of it. We’re sick of incentives screwing up perfectly good people and creating WeWork disasters.
I mean, would you trust Mark Zuckerberg with your data? Seriously?
Didn’t think so. Crypto is the funding method that is destroying big tech and replacing it with distributed tech owned by the users.
Haseeb Qureshi nails it with this insight…
Blockchains are not networks—they’re cities.
Digital humanity is evolving beyond Earth. Physical location won’t matter as much as digital location in the future.
1995: Amazon is just an online shop for books.
2005: Netflix is just a DVD-in — mail service.
2021: NFT is just jpeg you can right click & save.
It’s amazing how many smart people can get the facts very right & yet still understand nothing — Tascha Labs
All good ideas look stupid until they don’t.
If the people you follow online say crypto is a scam, perhaps it’s time to find new people.
It’s easy to criticize anything. It’s hard to defend your position. It’s impossible to predict the future — and crypto will be part of our future.
Think beyond the crypto crash. That’s where opportunity lies.
We’re now learning who chased Lambos and who patiently invested in a long-term asset class.
All the noise of crypto crashes is a sideshow. The real show crypto is preparing to launch is being built behind the scenes. Look at the developers flocking to Web3 companies. Tells the story better than I could.
Another iteration of the internet is inevitable.
But a new version of Wall Street and financial markets is long overdue. Trust in money plummeted when governments worldwide started creating trillions of dollars out of nowhere with little transparency. There’s no going back.
Crypto will automat trust.
Invest in trust and forget about temporary crashes.
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