Anyone who invested in crypto during this last year is likely sitting on quite hefty losses at this time - my heart goes out to you.♥️ However, I do continue to believe this shift into decentralised blockchain is a critical step in the unwinding of the old paradigm and its unjust financial system. It was therefore bound to be challenged. We must be courageous and bold. Similar crunches happened to the early internet adopters, and now the internet has become the bedrock of modern society. I have no doubt, crypto will do the same.
Crypto: A Breath of Fresh Air
So why the sudden drop these last few weeks? In the early days of crypto, Bitcoin was established as a means of escaping the broken, and heftily manipulated, fiat system. The controllers looked on, first with amusement and cynicism, and then like rabbits, frozen in the headlights of a fast-approaching car. After that, they scrambled to get on board, and then, as with Wall Street, used their shadowy manipulation techniques to "pump and dump", so they might take over this new space and scare off the private investors.
Let's be clear, cryptocurrency is about much more than a new means of decentralised money - it's a means of connecting and communicating away from the manipulative hands of the state. People around the world can trade with each other, and communicate, in the blink of an eye, at minimal cost, and with no need of the shadowy state middle man. What a breath of fresh air!
It's going to be one helluva tussle. Now crypto has established itself as something serious to invest in - and so (unfortunately) it has become linked to stock market movements such as the NASDAQ and SNP500. Whereas crytpo was a new hedge against recessionary money printing, now it's affected by the recession the world is fast moving into. It's gotten tethered by the shadow.
Crypto Pioneers Fear Not!
But intrepid crypto pioneers fear not! I always maintained in the book DIVINICUS that new layers and iterations of the system would rise and fall before the final cleansing and the emergence of the New 5D Paradigm. We have indeed entered a hybrid state, and I have no doubt, that as the previous iteration unwinds, the new version will be underpinned by crypto. The rate of adoption is staggering, and there are waves of private people still coming into the space at a phenomenal rate.
Yes, the state will regulate - that's probably the main reason that crypto prices have either stalled or fallen back this last year. The bogus lead case by the Securities and Exchange Commission (the SEC), against Ripple's XRP, has for sure been a determining factor limiting not just for it, but the whole sector. The case continues. The SEC is losing, and so they keep stalling the resolution. I have no doubt, that it will represent a watershed in the whole crypto movement.
Personally I continue to be tremendously supportive and "bullish" about the prospects for crypto - in particular that it can help private people escape the clutches of the broken and bankrupt fiat system. I think this will be pivotal in the emergence of a more just and fair society in the years to come. To all those who did invest, I say "hang on!!" Take a longer term view. I would say that in 5 years time, we're going to be in a very different position. We are in the early adoption phase, with a great deal of upside to come.
In the Great Shift, Stay Strong, Stay Long!
Here is Charles Hoskinson, one of the original founders of Ethereum, and now the leader of Cardano, explaining exactly why crypto has experienced the challenges it has. It's going to be a bumpy ride and long, just as the wider shift is. But talented, committed and resourceful people will always find a way through, because that is the forging and emergence of soul. That's why we're here and we will not fail. It is simply not on the landscape.
Despite the recent market falls in crypto, Ethereum is still up 10 times from just a couple of years ago when I wrote about it on Openhandweb. Likewise Bitcoin is still up strongly and plenty of other coins too. Such corrections are bound to happen in this emerging new technology.
Be strong, stay long!...