The great crypto scam
This post was first published in Publish0x by me, The Crazy Dude
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With a Bitcoin drop of more than 40% per year and more than 20% since last month, many voices are now raising (in addition to those that already did before) and predicting "the end of the great crypto scam".
I'm going to try to give my opinion without offending anyone but I can't promise that I'll get it 😉.
Within the crypto world, we are continually seeing dubious, poorly managed, or directly fraudulent projects, something that does not help build trust at all. The main intention of the first Blockchain is a decentralized economy, it is something that has its appeal but also its risks, and most people are not willing to take risks in their lives.
But what catches my attention and leaves me upset is the behavior of people who, even though they distrust the sector, speak out in all the forums they find, announcing with great fanfare the great scam. I don't like Curling and I don't go to Curling forums, I don't drink alcohol and when I get an advertisement for beer I don't dedicate myself to warning everyone that they want to sell them alcohol and it could be harmful to their health and even create an addiction (I didn't tell you how bad it tastes either 🤣) am I a weirdo?
I know that comparisons are hateful but they are thoughts that intertwine when I see a comment that I do not find sense.
The great crypto scam does not exist, many projects are working on bringing technological improvements to various sectors. What does exist now and has always existed is ignorance, which is very daring. In addition, in today's world, there is a need on the part of many to be right that exceeds their ability to analyze and understand.
Imagine that the Muslim community could check the entire production chain on the NFT labeling of their food. They could see first-hand all the processes and that they are acquiring a Halal product and it is something that is already being worked on.
Imagine being able to buy a jewel (the diamond that your partner deserves) and be sure that it has been extracted by people who work in decent conditions for a government institution and not for a Mafia. It's working on that.
The effectiveness of a smart contract against a paper credit policy leaves no room for doubt, what bank or large company is not going to use this?
The markets are crumbling because we have been printing cheap money for 15 years to stimulate the economy. So that your company can ask for cheap loans and thus manufacture more and hire more people who in turn hire loans for cars and homes because they have work. When interest rates are raised and companies stop having credit or have it more expensive, they cut production, cut personnel, unemployment increases, defaults increase and the economic cycle completely changes.
I'll explain it to you in a way that doesn't seem like you're watching the news on TV.
When they say "stimulate the economy" they mean inflate the economy. When they say "business cycle change" they mean that they are no longer going to continue to sustain the economy by printing cheap money.
With this situation, the markets fall because if I know this, imagine the people who have real money, those who accumulate 90% of world capital among a few friends. Just like you, they want to buy cheaper what they already accumulated, they invented "buy the dip"
The great crypto scam is the same as the crash of 29, the same as the dot-com bubble but this time it will be harder because all the negative factors for the economy come together in time. Correct me if I'm wrong, but I don't think they've ever coincided at the same time and so globalized before.
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