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?
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.
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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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Photo by Henley Design Studio on Unsplash
Note: the post was shared on multiple platforms here.
You can refer my previous article lists here and here
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2022 Prediction
2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
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DAO The Way
DAO The Way Part 1
DAO The Way Part 2
DAO The Way Part 3
DAO The Way Part 4
DAO The Way Part 5
DAO The Way Part 6
DAO The Way Part 7
DAO The Way Part 8
DAO The Way Part 9
DAO The Way Part 10
DAO The Way Part 11
DAO The Way Part 12
DAO The Way Part 13
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Learn How To Defi
Learn How To Defi Part 1
Learn How To Defi Part 2
Learn How To Defi Part 3
Learn How To Defi Part 4
Learn How To Defi Part 5
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Crypto Comics
Crypto Comics
Crypto Comics - PoW
Crypto Comics - Who is Satoshi
Crypto Comics - What is Token
Crypto Comics - What is DeFi
Crypto Comics - What is Wallet
Crypto Comics - What is HODL
Crypto Comics - What is Coinbase
Crypto Comics - What is PoS
Crypto Comics - What is DAO
Crypto Comics - What is A Block
Crypto Comics - What is NFT
Crypto Comics - What is Fork
Crypto Comics - What is Web3
Crypto Comics - What is DeFi-2
Crypto Comics - What is Yearn Finance
Crypto Comics - What is Degen
Crypto Comics - What is Aping
Crypto Comics - What is Cold Wallet
Crypto Comics - What is Hot Wallet
Crypto Comics - What is Airdrop
Crypto Comics - What is DYOR
Crypto Comics - What is 65537
Crypto Comics - What is RC4
Crypto Comics - What is WAGMI
Crypto Comics - What is Bagholder
Crypto Comics - What is Decentralization
Crypto Comics - What is Wallet Address
Crypto Comics - What is Plagiarism in Web3
Crypto Comics - What is Bart Pattern
Crypto Comics - What is Encryption
Crypto Comics - What is Consensus
Crypto Comics - What is Protocol
Crypto Comics - What is Stablecoin
Crypto Comics - What is ApeCoin
Crypto Comics - What is FOMO
Crypto Comics - What is Tokenomics
Crypto Comics - What is APR
Crypto Comics - What is to The Moon
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Learn Web3 in 100 Days
Learn Web3 in 100 Days - #1 What is the Internet and How Relevant to Web3
Learn Web3 in 100 Days - Day 2: What are the Browsers and Servers
Learn Web3 in 100 Days - Day 3: What are HTTP Status Code
Learn Web3 in 100 Days - Day 4: HTML and CSS and JS
Learn Web3 in 100 Days - Day 5: What is programming
Learn Web3 in 100 Days - Day 6: Markup, Elements, Tags, and Hyperlinks
Learn Web3 in 100 Days - Day 7: Style Your Web
Learn Web3 in 100 Days - Day 8: JS
Learn Web3 in 100 Days - Day 9: SQL
Learn Web3 in 100 Days - Day 10: Front-End
Learn Web3 in 100 Days - Day 11: Front-End Framework
Learn Web3 in 100 Days - Day 12: More HTML
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Modern Economic Nonsense
Modern Economic Nonsense - Inflation and Incentives
Modern Economical Nonsense - The Astrologist's Way
Modern Economical Nonsense - The VUCA World
Modern Economical Nonsense - Zug Tax and How to Run your Own Monopoly
Modern Economical Nonsense - Participatory Economy
Modern Economical Nonsense - Economic Models
Modern Economical Nonsense - Tokenomic Models
Modern Economical Nonsense - Design A Reputation-Based System
Modern Economical Nonsense — The Money Problem
Modern Economical Nonsense — The Treasury Problem
Modern Economic Nonsense — Bitcoin vs. Real Estate
Modern Economic Nonsense — A very long term view
Modern Economic Nonsense — Banking Collapse
Modern Economic Nonsense — A Wall Street Legend
Modern Economic Nonsense — A Modern Alchemy
Modern Economic Nonsense — Founder goes ghosting
Modern Economic Nonsense — Anonymous cool or fool
Modern Economic Nonsense — The market volatility
Modern Economic Nonsense — The money shortage
Modern Economic Nonsense — The web3 scams or not
Modern Economic Nonsense — All about debts
Modern Economic Nonsense — Metaverse is still relevant or not
Modern Economic Nonsense — A Show of Recession
Modern Economic Nonsense — A Myth of Valuation
Modern Economic Nonsense — Inflation becomes irrelevant
Modern Economic Nonsense — A journey of money laundering
Modern Economic Nonsense — Consumer Sentiment Might Be Low
Modern Economic Nonsense — Is payment technology still relevant in high inflation environment
Modern Economic Nonsense — Recession is coming
Modern Economic Nonsense — We are at the bear market, now what
Modern Economic Nonsense — Invest like a cat
Modern Economic Nonsense — Bitcoin leads the market recovery
Modern Economic Nonsense — The dollar is dying slowly
Modern Economic Nonsense — The current stock market wants to go back to 2019 but ignore the technological solution of the future
Modern Economic Nonsense — Today's fear, tomorrow's cheer
Modern Economic Nonsense — An engineering recession
Modern Economic Nonsense — The market is broadening rug pull everyone
Modern Economic Nonsense — The self-fulfilling recession
Modern Economic Nonsense — Crypto is changing the advertisement business
Modern Economic Nonsense — Blockchain phone
Modern Economic Nonsense — Next generation of wealth
Modern Economic Nonsense — Crypto winter prolonged with high inflation persists
Modern Economic Nonsense — The era of currency debasement
Modern Economic Nonsense — What if the Fed gets inflation all wrong
Modern Economic Nonsense — The Bitcoin apocalypse is coming
Modern Economic Nonsense — The Bitcoin reserve is coming
Modern Economic Nonsense — Payment apps move away from the fiat currency
Modern Economic Nonsense — Web3 continues building despite the bear market
Modern Economic Nonsense — Banks are seeking shelter in cryptocurrencies
Modern Economic Nonsense — Inclusive blockchain
Modern Economic Nonsense — Time to reinvent cryptocurrencies
Modern Economic Nonsense — Crypto companies' bankruptcy wave is healthy
Modern Economic Nonsense — The Bitcoin mining company is not profitable
Modern Economic Nonsense — Crypto attracts more talents in the current market
Modern Economic Nonsense — Why Bitcoin Maximalism will fail
Modern Economic Nonsense — Gaming culture and crypto
Modern Economic Nonsense — Global crypto regulations are coming
Modern Economic Nonsense — Decentralization may not work as everyone expects it would
Modern Economic Nonsense — Government opens ideas to the public about cryptocurrencies
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Random Thoughts
The latest crypto secret weapon - Hyper-personalize shopping
Russia Prohibits Crypto as a Legal Payment (What are the Consequences?)
Cyber criminals using crypto mixing services are booming
The Next Frontier of Gaming: Introducing the Metaverse
Crypto VC becomes so chaotic
We are heading into the debt crisis and crypto can help
How Three Arrows Capital Missed Every Target They Aimed
55% completion of Ethereum 2.0 means an unfinished product
The dollar is ever stronger
When Crypto gets into politics
Bitcoin Reduces Cost Of Living
Free education in crypto
The banking system rules out the crypto market threat
The US Stablecoin Bill is coming soon
MetaMask Ethereum Wallet update to prevent scams
We are in a recession, no doubt?!
How high leverage crypto lending market collapses
What Metaverse?!
Self-proclaimed Bitcoin creator Craig S. Wright won the legal case for £1
Ethics of Crypto
Crypto hacking is inevitable
The parallel money system
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Yearn Finance Comic
Yearn Finance Comic - Part 1
Yearn Finance Comic - Part 2
Yearn Finance Comic - Part 3
Yearn Finance Comic - Part 4
Yearn Finance Comic — Part 5
Yearn Finance Comic - Part 6
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Curated Lists
Curated Lists - Web3 Culture
Curated Lists - Crypto-enabled Communities
Curated Lists - Crypto Philosophy
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Defi 101
Defi 101 - Part 1
Defi 101 — Part 2
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Thoughts
Thoughts about VC and PleasrDAO x BitDAO
The Crypto Market has Changed
The Myth of Inflation Hedge
The Myth of Stablecoin
The Myth of NFT
End of the Crypto Market?
The End of the Stablecoin?
Terra-UST Saga - How to repair the trust when there is no trust built on
How to deal with negative market sentiment
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Crypto VC Thoughts
Crypto VC Thoughts: Physical Assets vs Digital Assets
Crypto VC Thoughts: Digital Money Pushes Energy Companies to Innovate
Crypto VC Thoughts: GameFi Dilemma
Crypto VC Thoughts: Credit Oceans
Crypto VC Thoughts: The Death of Terra
Crypto VC Thoughts: Debunk Bitcoin Myths
Crypto VC Thoughts: Defense Crypto Investment Methods
Crypto VC Thoughts: New Type of Stablecoin
Crypto VC Thoughts: Crypto Business Cycle
Crypto VC Thoughts: Crypto Business Cycle 2
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
