Things aren’t looking great, are they? Celsius is going down, Luna has already gone down, Coinbase is firing people. Ethereum briefly went below $1,000.
When all is said and done, we shouldn’t forget that everything we see here, everything, started with Bitcoin. It kick-started the universe we’re in. A trillion-dollar (well, not right now) market created from scratch. But as with every other technological (r)evolution, the tide is changing all the time.
This is an important historical moment for crypto, because a lot of failed or soon-to-be defunct projects will die. A lot of trashy projects will end up in the trash can and when the dust clears, the market will re-emerge stronger because the weaker links will have been eliminated.
The goal is to put bitcoin, and crypto in general, in the hands of as many people as possible. We want to disrupt (gah, I hate this word) the financial sector and bend regulators and legacy players around crypto but this can’t be done unless we get rid of the scams and the scammers. And times like this are exactly for that.
These painful transitions also help people get an idea of what they want to do going forward. Are you a tourist or, using a terrible expression that’s so ‘in’ these days’, an incumbent?
It’s about making money but it can’t be just about that otherwise what’s the point? We might as well go back to the ATM.
We just need to keep two things in mind: 1, it happened before and 2, it always takes time.
Never mistake a clear view for a short distance.
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