Market crashes are when everyone tries to look smart.
It’s a bloodbath. Basically, we’re all pissed our investments went down and we’re not so smart anymore. The only remedy is trash talk. Get in the gutter and throw a banana at someone to feel better.
This market crash and bear market are life-changing. You’re about to feel chills down your spine as you read this. Buckle up.
The Mother Teresa goodness crypto creates in the world
“Crypto ruins the environment.” And your big-ass car doesn’t?
“Crypto is full of scams.” And dollars aren’t used to fund drugs and war?
“Crypto will never replace the internet.” And Zucks, Wall Street, Spotify, and every big tech company on the planet are all wrong? They just chucked billions at a scam for fun?
Blah Blah Blah.
The best part about crypto isn’t making millions and buying your friend a bright pink Lambo for Christmas. Nope.
Crypto saves lives.
When the Ukraine war broke out banks failed too.
The Ukraine citizens went to social media and got access to $100M+ in crypto. They used the crypto to buy bulletproof vests and weapons to protect themselves from the invader.
I know what you’re thinking…. but the crypto prices fell off a cliff. Yep, that’s why the US dollar form of crypto gets used a lot. Countries previously blocked from a stable currency like the US dollar can now access it.
What does this mean?
If citizens don’t like what their country or its leaders are doing they can vote against the regime by buying US dollar crypto to save in, and dumping their local currency (or only using it to buy essentials).
Glitter cannons are going off in Gaza.
The citizens love crypto despite the crash. Why? Many of us Western folk don’t understand. We forget how lucky we are to have Visa, Mastercard, and ApplePay. Over there Palestinians are locked out from most payment apps.
To get money in and out of Gaza you’ve gotta pay middlemen crooks and stupidly high fees for the privilege. Imagine paying the price of a new car to accept some money from your daughter in the US. Not with crypto.
Crypto murders middlemen in their sleep.
If you live in this war-stricken country, you don’t have nice air-conditioned banks to walk into and deposit cash on your 2-hour lunch break.
The local currency there is worthless. You’d be better off bartering goods in exchange for dirt you can get off the ground for free.
Thanks to crypto many Afghans can now access the US dollar stablecoin through apps like HesabPay.
The Afghans humble ally fled the country but left behind a “dollar gift.”
Crypto charity “The Giving Block” has raised $100m+ and given it to those in need. Aseel is another business that uses donations from their eCommerce store to fund supplies that provide first-aid and food to the needy.
People who refuse to understand crypto aren’t naive. They’re entitled. They’re privileged. They’re high-class and don’t respect 3rd world countries.
The hidden alpha of crypto
Fancy finance folk love Alpha.
Alpha is where an asset you invest in outperforms in comparison to the average return of the market.
Crypto writer Nat Eliason says “Maybe some of the alpha [in crypto] is the friends you make along the way?” The same is true for me.
Crypto is so much more than finance or money. It’s a community. A new world order. A changing of the guard. And the best way to experience all of that is with new friends.
The friendship ROI in crypto is huge.
With friends you can build stuff bigger and faster.
The one idea that warped my mind
Most think of crypto in money terms.
Crypto expert Packy McCormick changed my mind. In crypto, many of the projects and businesses use digital voting rights to make decisions. It’s far from perfect, but what it has accidentally done is create new forms of governance via DAOs (Decentralized autonomous organizations).
Packy reckons most people believe we’ve gone as far as possible with the current governance and democracy models. I agree.
The Web3 (crypto) models of new governance will “allow for the most rapid iteration on new economic and governance models of any system humans have built.”
Faster decisions, faster rate of change.
When the rate of change speeds up, the race to occupy Mars and solve climate change gets faster.
Suddenly huge problems look solvable. *Mind blown*
What if inflation offsets existed?
One of the biggest cryptos is Bitcoin. Twitter users market it as the saving grace against inflation.
Inflation is hurting. Rents up. Gas prices up. Food prices up.
In financial markets there are these mythological things called inflation hedges. Basically, when inflation goes high these assets increase in price to offset the pain.
But none of the current inflation offsets (hedges) work like they should.
My buddy Jack Raines, who owns a popular finance newsletter, says “You Can’t Buy Inflation Hedges.”
He claims if they existed and were guaranteed to work then everybody would buy them. Then the price of the asset (solution) would climb so high that it would no longer offset inflation.
Jack is a nice guy. But he hates crypto. In his defense he’s a young pup and was in his diapers when I started making money online.
Here’s a big, bizarre idea: what if Bitcoin manages to become — not a guaranteed inflation hedge — but the best one in the world that works more than 50% of the time? It’s programmable and scarce.
If Bitcoin did manage to solve the inflation problem then its price would go exponential. Bitcoin has the best chance of solving this problem. Nothing else has come close.
Now the crazy Bitcoin price predictions seem tiny.
New business models to rip your face off
Self-improvement is a powerful movement.
When you understand it, it makes any goal possible. Now crypto has tapped into the trend by blending together habits, goals, and money. First it was Play2Earn and then Move2Earn.
I read on twitter recently that there are more models to come:
If you’ve ever wanted to make money online and not work for a boss, these new earning models will challenge the idea of salaries.
Music will be the first NFT triumph
Kanye West has NFTs and cryptos coming, according to trademark filings. The Chainsmokers made an album that was a 100% NFT. Old school torrent site Limewire signed a deal with a major record label to do NFTs.
And The Weeknd is doing a world tour funded by crypto exchange Binance. Oh… and every concert ticket will be an NFT.
NFTs are digital contracts for communities that guarantee an automated delivery on promises. Don’t dismiss them.
Make love to a bear market
The dotcom bubble bursting did not kill the internet. The 2022 crash will not kill crypto — Sassal.eth
A lot of toxic waste built up in crypto over the last few years.
The crypto crash and bear market we’re going through now flushes out all the sludge. The get-rich-quick schemes die. Con artists leave. Critics get tired and move back to mocking celebrities for fun (and $0).
This is the greatest moment of our crypto lives.
The cycle of change crypto ignited will continue. Just like the 2008 meltdown of the financial markets, the next phase of blue chip companies is getting quietly built behind closed doors.
We’ll get to meet the architects of this future shortly.
Maybe you can be one of them. Just saying.
This article is for informational purposes only, it should not be considered financial, tax or legal advice. Consult a financial professional before making any major financial decisions.