This post is for all you Crypto holders out there. Whether you are panicking during this bear market (09-2022), or you are Hodling like a champ. It matters not. This message is for you all.
Bitcoin was created in the ashes of the last financial crisis that started in 2007, but really bit everyone toward the end of 2008. The first block of the Bitcoin blockchain was mined on 03/01/2009. The creator of Bitcoin made it clear in that first block what his intentions were for Bitcoin. I will let you explore the rabbit hole of what the creator embedded into that first block for yourselves online.
Since then, Bitcoin has flown under the radar of those that would be ultimately threatened by it, that is if it were to survive so long. And alas it did, and those entities definitely feel threatened now.
As the Fiat Monetary System buckles under its own contradictions, the elite (if you permit me to call them this, they certainly would consider themselves as such) scramble to roll out a successor to the Fiat Monetary System and it is no surprise that they model their ideas on those that Bitcoin pioneered. They know that the ultimate challenger to their ideas of resetting their “Exorbitant Privilege” to some new and shiny system, is Bitcoin.
What they want to create would be the Mr Hyde, as compared to the Dr Jekyll of Bitcoin.
I want to warn you one and all.
The bear market in crypto is not new, nor is this one over yet.
As the rest of the hyper-financialised world, smouldering but likely to really catch fire soon, the sentiment around Bitcoin will also sour. Projects on the fringes of the crypto world will crumble, people’s “moon bags” will implode.
What the elite will hope for is: that those that have lost in the crypto world to complain and beg for regulations in a misguided hope of redeeming some of their personal losses.
I beg of you to refrain.
Do not complain to the authorities about your losses.
Losses are the normal course of investing and should be taken as strong lessons in research and due diligence.
If you believe in crypto, then you believe in self sovereign money, a monetary system outside the control of any centralised authority - if you truly believe this, then do not hypocritically beg for some central authority to come and save you from investments gone bad.
Crypto bear markets are bad, but they are caused by events outside the decentralised systems that run them (on the whole). Unlike commodities, equities and forex markets that are rigged to work against you, the small investor, just trying to get a leg up in this rigged world, Bitcoin is completely free from direct manipulation.
If you are confronted with 2 casinos, one is known to be rigged to favour the house and the elite, while the other is mathematically proven to be fair. Which to enter? But more importantly how do you feel about your losses?
Don't get the two confused and we will all get through this better and freer than before.
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