The most common pattern for startled chickens that a market butcher prepares for the feathering stage is that “this time is different from the others.” Unfortunately for them, however, this time is exactly the same as all the times before. And in the end, the harsh reality comes to remind us of the very small chance we have of winning the thief’s bargain. Only on terms!
Several months ago, a good man (and I mean it) in a post blamed liberals and co for our cautious attitude to the cryptocurrency rally. In the middle he said: “You don’t know, you are left behind. From now on, I will only read such and such who is a cryptocurrency expert.” Sincerely! I want to believe that one night he will be happy to receive the gift of the Holy Spirit and learn the easy way, not the hard way, that there are no prophets.
The bad thing is that the missionaries of the “New Age” are lost. Perhaps they are counting the money they made in the big party from selling cryptocurrency, from publishing books and pamphlets about the “new religion”, from subscriptions from followers, or from fees for the “Getting Rich Tomorrow” seminar. Thus, the believers found themselves alone and left in the middle of the desert. They opened their eyes and suddenly the paradise they had imagined disappeared. All around them is sand…
There is no end to the bankruptcy of ecosystems that have relied on cryptocurrencies. We were told they will return. Again, the same previous question applies: What do they serve? To put it more simply. Let’s say some of them have a reason for being. Let’s say! We don’t fully accept it, but let’s accept it. They certainly have no reason to exist. And they deserve something, anything…
There is no doubt that there is an amazing technology behind cryptocurrencies. But this is a far cry from claiming that mankind has supposedly discovered the secret potion of economic freedom and the democratization of the financial system. This kind financial freedom is a rare commodity and arises not from the shadow of innovative applications, but from the way economies work.
The concept of stock is a real thing. A shareholder participates in a percentage in the company. Trying to buy that percentage by handing out football player cards that we collected when the kids were buying bubble gum at the kiosk is an act bordering on cheating. Some did it out of naivety. But others knew very well what they were doing.
Will cryptocurrencies regain their value? Personally, I don’t care. I wouldn’t gamble more than 100 or 300 euros on this madness. As if you have gone to an expensive restaurant to have a unique culinary experience. 300 euros is not a lot of money to understand what someone might feel when they put their hand in their pocket and their wallet is stolen…
“Hipster-friendly coffee fanatic. Subtly charming bacon advocate. Friend of animals everywhere.”