Ultimately it has to do with the way our society is structured economically. We need continuous growth to pay off the debt we're continuously accruing. If growth stalls or reverses the whole system collapses. Population decrease basically ensures that the required economic growth won't occur.
How many bubbles pop 3 three times and then proceed to blow up bigger than the last time? I know of exactly zero. Looks more like an adoption curve when expressed logarithmically
Ideally, but the ones with their hands on the controls are the biggest beneficiaries of the current system, so it's unlikely to change without a revolution or collapse.
⭐ Quizzle 30 4/20
🟨🟨🟨🟩
Damn. Definitely got lucky on that.
Not sure why you interpreted my post as accusatory. I agree we're all along for the ride and there isn't much we can do. As far as what I'm 'bringing to the party', I guess I would say that we should opt out of their broken system as much as possible. Reject blind consumerism and reject the extreme polarization the media is constantly trying to instill in us. Create value for others and store your economic energy in a system they can't control (Bitcoin). Try to raise awareness in others of the unfairness of the system, and its inevitable doom due to the inherrent requirement of infinite growth with finite resources (the logic of a cancer cell). It's not much on an individual scale, and probably won't affect the ultimate outcome, but hopefully we and the people we love can be somewhat insulated from the system as it exists and the chaos that will come when it falls.
You sound exhausting.
Adoption as a hedge against fiat debasement, primarily. FTX wasn't a bank BTW, it was a shady exchange that mostly laundered money and stole customers' funds. It was more analogous to a precious metal dealer like JM Bulion or similar, except run by criminals.
The purpose of crypto isn't to integrate with the existing system anyway. The purpose is to provide a parallel system that isn't subject to the kind of manipulation present in the legacy system. Unfortunately, crypto has become completely overrun with scammers and charlatans just looking to take advantage of rubes. The fundamental principals of Bitcoin are still intact in the code and network though, and IMO will win out simply because it is incorruptible and indestructible. The legacy system seems to have decided the same, and is currently adopting a 'if you can't beat em, join em' attitude by pushing for ETF products to offer bitcoin to their customers though more traditional means.
I don't expect my post to change anyone's mind, but I would encourage anyone reading to look into why bitcoin has crashed multiple times and come roaring back each time.