How is this crypto related? Hold that thought for a moment.
--Our lives are transformed by the Internet's expansion in the 1990's. We now have services online that far exceed the scope of imagination of those early web companies:
- You can purchase food to be delivered online or by phone
- You can buy artistic and technical items (Envato Marketplace)
- You can hire a freelancer to do virtually anything
- You can livestream video games to tens of thousands daily
- You can run your own "channel" on Youtube
- You can build your own website with absolutely no coding
- You can deploy an entire forum all on your own in minutes
- You can sort through and message hundreds of friends on social apps
- You can alter your photographs with AI on your phone (Google)
- You can be a hotel (Airbnb)
- You can be your own taxi driver when you feel like it (Lyft, Uber)
- You can do odd jobs from a phone app
- You can play games online to make money
- You can get hired by filling out an online application and do the interview by webcam
- You can talk to your whole family by webcam (Zoom), not just one on one
- You can watch "the internet" through apps on your smart tv
- You can order medicine online if you have a prescription
- You can publish your own books online to dozens of platforms
This list serves to illustrate the potential disruptive and paradigm shifting capabilities of a new boom. Cryptocurrencies are in a boom. There are too many as the expansion occurs. Gradually decay will set in and we will see companies in larger number begin to collapse. When they do, so will the currencies on the exchanges. Those that remain are likely those whose huge trade volumes bring them to the center of focus for global consciousness.
How many cryptocurrencies have you traded in this month that you believe will go extinct? What are your exit strategies, should the cryptocurrency no longer be available to trade on an exchange? This serves as a much needed reality check for some of you, myself included.
(This is a short excerpt from my article on den.social)
