Crypto is our long overdue F-U moment

Crypto is our long overdue F-U moment

By LeftFooted | bitcoinea | 23 Sep 2023


Here's a timeline of all the financially significant moments in my lifetime.


Between the late 1990s and the early 2000s, when I was basically a kid, 11 European countries gave up their sovereign currency to adopt the EURO.


The countries in questions were Austria, Belgium, the Netherlands, Finland, France, Germany, Ireland, Italy, Luxembourg, Portugal and Spain. Greece joined one year later.


I don't think it takes a genius to realise that putting all these different countries under the same currency, with drastically different economies and demographic situations, isn't a smart idea.


Austria, Belgium, the Netherlands, Ireland, Luxembourg and Portugal are small countries with a small population. France and Germany and Spain are large countries with a large population. Finland is a big country with a small population. Italy is a small country with a large population.


How can that work? It'd be like asking a large number of people of different heights to stand under the same tiny umbrella when it rains.


Moving on to the late 2000s, we've got one of the worst financial crisis on record, caused largely by greedy bankers and the SEC that's asleep at the wheel, this is going to be a recurring theme, by the way.


After that, everything remained stable for a decade or so. Not great, but stable.


About a decade later, there's a pandemic.


It becomes clear after about two minutes that Covid was essentially harmless for the vast majority of the population but even so, most countries treated it like the Spanish flu (which, friendly reminder, was actually 50 times - not a metaphor - more deadly than Covid ever was) during the first wave, and some countries never let it go for the next three years.


More importantly, it led to the US Government printing roughly $3 trillion out of thin here, artificially creating massive inflation.


Then in 2022, Russia invaded Ukraine, which immediately and directly affected energy prices in Europe, which in turn led to widespread price spikes across the board.


The 2008 financial crisis and the war are different stories, and things are a bit more complex. But I personally would place a modicum of the blame on the people for the EURO and a lot of blame for Covid.


Covid restrictions wouldn't have happened if people hadn't complied the way they did. But I digress.


To cut a very long story very short, and to put an end to this rant of mine for which I apologise, the bottom line is crypto puts us, not the government, not banks, in charge.


It needs to be clear to everyone and anyone, including the aforementioned entities, that Bitcoin, and therefore crypto, cannot be stopped. And it cannot be killed. And it cannot be controlled.


That's why I couldn't give two fcuks what governments or institutional investors have to say about crypto. And more importantly, I don't apologise.


And you shouldn't either.


Because I know - 'know', not 'think' or 'believe' or 'hope' - I know.


Because I know that sooner or later everybody will do what JP Morgan boss Jamie Dimon did.


First, you badmouth crypto. Then, you join in.


In a way, you almost have to respect Dimon. Because he literally said: "I still don't like [crypto and Bitcoin], but I can't ignore it anymore". He admitted defeat in a 'can't beat them, join them' sort of way.


Correct. They can't ignore it. Nor can they kill it. So fcuk them.

Sorry, rant over.

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


bitcoinea
bitcoinea

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