Discover more from Merchant Of Chaos
Dreaming of a Crypto Utopia
Despite understanding and appreciating the value of crypto early on, I've been slow to invest.
I was never in the financial position to roll the dice on it. I was told to invest in Bitcoin when it was €100 per coin but for so many silly reasons I didn't. As of today, it is €34,374 - I can't lie, that hurts a little.
The thing about not investing early on, was that at every point I revisited it, it seemed like I had missed the boat. I felt that I didn't have the time to dive deeply enough into it and am just not a gambler so I put it aside repeatedly - I only bet what I can afford to lose.
However, I absolutely love the ideology behind blockchain technology, that we can create an unfuckwithable trust network. See Mark Manson's recent deep dive into this that got me thinking about this: https://markmanson.net/how-trust-runs-the-world
In time, I hope it will create a level playing field but at the moment it is just creating another cesspool of entitlement of early adopters.
Old money got into property and asset-building early on, forming defensible economies of scale that prevented meaningful competition. They got richer, larger portions of society got poorer and more displaced and very little has disrupted that.
Along comes another era - tech startups and disruption. Que, the land grab by early adopters. They get richer, large sections of society are getting poorer and more locked out of progress. Levels of social inequity have become astounding and appear to be reaching a tipping point.
Crypto is currently a 'bro fest' but it has the potential to be so much more if it can be democratised, made accessible and given an injection of social conscience.
I am sincerely hopeful but not holding my breath that this will happen.
I understand pioneers need to fund their projects and ideas but until the traditional monetary rewards are decoupled from the technology - very little will change, we will just be in the same loop again and again.
Crypto was supposed to create a better world, currently, it is just compounding the worst of the existing one.