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The Crypto has no greed problem

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Written by   37
2 days ago

Hacking, rug pulls, VC bankruptcies, and founders running away with their luxury cruises are just a few that you see in Hollywood movies but occur in the crypto world. Many people blame people's greed in the crypto market and believe the government should regulate people's greed. Does that actually work?

https://twitter.com/JohnReedStark/status/1554840811178807296

A free market with greed

Some said the free market is a wild west because people are full of greed. That is why we need regulations to punish those people. They are criminals. Wait a minute. You probably believe this statement is 100% true. 

To justify such a statement, the government has a right to set up an entity to oversee the activity. That is why the central bank (The Fed) was founded after the 1929 financial crisis to prevent a bank run.

If you only focus on the single event of 1929, it is correct that the central bank was needed. But, a history is a continuance event. Therefore, you cannot single out one occasion to prove your statement is accurate. History continued, and the Americans experienced far worse than the 1929 financial crisis - the Great Depression. Who created it?! Hint: the Federal Reserve.

Why Financial Crisis is Healthy

When the market is excellent, every business is a sound business. However, there is no perfect life to make everyone happy. The financial crisis is a natural process to screen out bad business ideas. The government wanted to make everyone happy and started to intervene in the financial crisis. However, lousy businesses survived and controlled the market sector, believing they were doing great. They pushed out competitors who would take risks to innovate and sacrifice the future of the growth to exchange for the current market booming. The longer the government intervention, the waste the economy will generate to offer of making everyone happy. Ultimately, the government will carry large debts to make everyone happy, and the economy will not grow to provide a better living standard for future generations. Instead, it will bring the entire nation's living standard backward.

Business is about monopoly

There is no way for businesses to become profitable unless they are a monopoly and dominate the market. For example, Google is a monopoly. However, even though people knew, they did not refer to them as a monopoly because everyone relies on Google daily. Without Google, one day, someone may not survive. The modern monopoly's success is because they discovered a secret - innovation. We all believed monopoly could not innovate in the past, but the modern monopoly has cracked the code and become unstoppable.

Government Business Partners

 When monopolies can innovate, they grow bigger and more powerful. So they can replace the government eventually. So the government needs to partner with them rather than break them apart. That is what we are currently living under. The big tech companies will grow more powerful and unstoppable. So the government will grow together. And here is where greed comes into play. Both business and government are business partners. They are more greedy than ever, and no way they punish each other. Sorry, no more financial crisis - no more opportunities to change if you are poor in the first place.

Crypto gives you opportunities

If the government will not punish the greed of their business partners, why the government bothers to punish crypto greed -because crypto offers opportunities to change? 

Change becomes very scary for the government and its business partners. Monopolies innovate to prevent changes, and the government protects the market without potential changes. Only the crypto can bring the change.

So, next time people argue that crypto is greedy, you should correct them, and that crypto is about change!


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