Crypto And Conspiracies

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Conspiracy theories have always been like a love song to the ears. Why? Simply because of the enchanting exaggerations it gives to "facts" that might not be "true"(Paradoxical right?😉😋).

This is why people yearn for them. Remember, lies are very delicious to the tongue and melodious to the ear.

The Crypto industry has had its fair share of conspiracy theories ranging from "China Being the creator of bitcoin to annihilate the US dollar" to " Bitcoin being created and run by the NSA".

Some theories even had it that the NSA has the backdoor assess to the SHA-256 algorithm of bitcoin which implied that bitcoin is not as safe and secure as was proposed by Satoshi Nakamoto

Most of these conspiracy theories are being promoted by the traditional banking sector and other financial sectors. This is simply because of the threats bitcoin pose for the other financial sectors. The simple fact is that these conspiracy attacks are inevitable given the performance of bitcoin since it's invention in 2010.

The underlying truth is that whenever an innovation is disruptive and interesting, it's definitely worthy of attacks. It's very .

If banks like JP Morgan, Chase Bank and other top global banks were told that a single digital asset will emerge one day and beat them in market capitalisation and volume,they won't have believed it.

This is because these banks have dominated the banking sector for decades and would do anything to remain at the top.

At Bitcoin's ATH , its market capitalisation was at 1.2 trillion dollars plus and its market volume was trading at over 1 trillion dollars. As at then , these " rich men's Banks " were still half way down in market capitalisation and volume.

Bitcoin's market capitalisation at ATH... Screenshot from Coinmarketcap

Many are still in disbelief about Crypto and all that it promises. Some even still see it as something that will phase out like the morning dew. Others are still calling it an advanced Ponzi scheme.

It's all good. Unfortunately, that's what I thought when I was introduced to bitcoin in 2016/2017( 6 years after its existence 🤦🥺).

One would feel so sorry for Andreas.M . Antonopoulus when he lectured an empty conference hall in 2013 about bitcoin neutrality and other benefits of bitcoin. He was apparently talking to himself because only one person attended the lecture. At that time, bitcoin was comfortably sitting at $100 but no one cared to listen. (You can watch the video here )

I guess that one person that listened is now a millionaire (That's if she took positive actions after listening)

The traditional banking sector is way overdue and the benefits it promised had failed. I can't predict their bright future anymore and I can't prophesy their extinction either. We actually need them to stay around (maybe because of their dirty fiat! Lol 😋) but we need bitcoin and crypto more right now.

The truth about the world and sectors is that as far as the world rotates and revolves,there would always be revolutions and paradigm shifts from one concept , idea or innovation to the other. That's why it is said that " Variety is the spice of life" and also said that "Change is permanent "

But then, the bad thing about change is not the change and the disruption it brings to a system (trust me those are the best things it comes with) but it's the inability of humans to embrace and adapt to change despite having the human characteristics of adaptability.

Most of these traditional banks have failed to adapt to the revolution which the Crypto industry is leading in the global financial and technological sector. Some individuals too are still in total disbelief in the principles of crypto and its technology . Most people say it's risky.

But then, which is more risky? Taking risks or not taking risks?.

The last time I checked, not taking risks were more riskier than taking risks because not taking risks keep you tied to one spot as you run around a circle in futility.

I had a discussion with a friend of mine who was of the opinion that the cryptocurrency market would crash heavily just like the Great Stock Market Crash of 1929. He was even writing an article on it.

He actually gave so many factual reasons why there will be an imminent heavy crash of the Crypto market. I sighted to him so many reasons why the market has come to stay and will not crash as he predicted.

I'll be talking about all those in my next post but as for now know this : Crypto is revolutionary and it can only be that in a revolutionary world.

Let me drop the mic here. 😋✌️

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