Posts about Crypto
"First they ignore you, then they laugh at you, then they fight you, then you win"
This quote has been cited by many crypto OGs over the years. Everybody back in the day knew what they would get into and that the current regime won't give in without a fight.
When exactly did that happen? Old money guards never fought Bitcoin or Ethereum directly. They (WEF and Rothschild) embraced it as early as 2015. Did you back then?
What they did recently is use their regulatory capture to fight against other cryptobanks like Binance and Coinbase. And in general create huge insecurity in retail over the last years to extend their accumulation window.
What they actually are fighting against is true fungible crypto-currency as in privacycoins like Monero (see EU regulation or state attacks against Monero)
Unfortunately as we have seen in many other fields most governments and corporates are not dumb and rather then putting energy in fighting something they can not win will rather use another technique called "embrace and extinguish" or simply deflect, or criminalize "privacy".
The US state apparatus and the biggest funds certainly used all their connections and various different strategies to push out competition of the market and make the SEC their bully to enter Bitcoin and Ethereum at a discount en large. Them (all big financial corps at the same time) going public publishing their crypto engagement means that they are already fully loaded and now wait for the masses to bring the return on invest. For more background see "coiled market" or painted "spring".
Embracing and extinguish a tech that was meant to revolutionize many aspects of the financial system and how we as humans interact freely without middlemen means we as the crypto community diverted from the former cyperpunk ethos and just like those big corps and big governments follow stupid profit motifs and market control/surveillance interests over freedom. Unironically that's why we see "transparent crypto assets" embraced by those huge funds and actual cryptocurreny like Monero fought tooth and nails and making it untradeable on CEX as they get illegalized by state actors.
"Crypto" is dead from a freedom perspective, former ideals got lost. But "cryptocurrency" lives on in privacy coins like Monero. Short term gains will be made in alignment with big brother. Long term gains will be only made in alignment with more freedom and choice. But that means indeed fighting the old structures instead of integrating and stabilizing a rotten core.
Maybe the crypto-(r)evolution was always meant to take more time and come in two steps so people can adapt to the big changes that means to life rather than get shocked by true freedom money.
I think John Oliver put it best when he described cryptocurrency as "everything you don't understand about computers combined with everything you don't understand about money"
You need to understand both if you want to come out on top in this game. Learn about the "crypto" by studying cryptography. How does a hash get generated? Why is mining difficult? How do you sign a transaction and confirm that it is a valid transaction? Those are things you should know about cryptography.
Here are some resources to learn more about cryptography:
- https://www.thegeekstuff.com/2012/07/cryptography-basics/
- https://www.fortinet.com/resources/cyberglossary/what-is-cryptography
- https://medium.com/@tattwei46/basics-of-cryptography-18d01b952dde
Currency is the other thing you will need to begin to understand if you want to succeed. Where does currency come from? Why do people use currency? What does a bank provide as a service? Why is that service flawed? What are the properties of currency that need to be fixed and why?
Here are some more resources to learn about money and currency:
- https://www.investopedia.com/insights/what-is-money/ (Investopedia is a great resource to learn about investing as well)
- https://www.britannica.com/money/topic/money
- https://www.imf.org/external/pubs/ft/fandd/2012/09/basics.htm
