Cheer up. You're not alone. Your "crash" is a small, insignificant one. Look outside, walk around, strike up the occasional conversation, and you'll quickly see that all things are relative.
Facebook, Amazon, Apple, Netflix, Google - source: YouTube
It's easy for us to get caught up in a whirlwind of down-beat news about the crypto-markets; we are, after all, all stakeholders. Especially when you've made the decision to go in all the way, basically said goodbye to the FIAT way of life, I can imagine these are trying times, so let me first say that I feel for all of you, crypto-pioneers, and hope you all manage to weather this storm. I know it's relatively easy for me to stay positive throughout these circumstances, and I know for a fact that this market-onslaught has forced many to make some really hard and life-changing decisions. So I apologize if this post has too big a "feelgood" factor for your taste; no one will blame you for feeling whatever way you feel about what I'm going to say.
Still, I can't help but seeing the positives, much of that coming from just hanging around here on steemit.com, despite the negativity that's been going around. Amidst the crashing prices and dreams, I see steemians grab this opportunity to power up their accounts; I see a lot of brand new Minnows and Dolphins being born, and I only wish I had more liquid FIAT to invest myself. On the technology front, times have never been better, except maybe at the beginning of the ICO boom; development of new DApps on the web 3.0 is still rampant, with our own Steem blockchain marching steadfast toward SMT implementation next year.
Bitcoin and sound crypto-currencies have another fail-safe mechanism; unlike traditional stocks or assets, there's a big ideological component to it's market value; the price-drop will be arrested as soon as all non-believers are shaken out of the marketplace. What we'll be left with are the ones who truly understand both the technology (to a degree of course; we're not all programmers) and the necessity of decentralization of money-power as well as the need for some sort of peer-to-peer money to exist; the worlds governments will kill cash eventually, so virtual money on open distributed blockchains will be the only way left for us to tip that waiter or cab-driver, to slip little johnny some cash for washing your new Lambo...
Image by OTA Photos - source: Flickr
What I'm saying is that it's still up to us to lead by example, for we're the ones that understand the need for the changes heralded by Satoshi's whitepaper from 2009. What I'm saying is that fundamentally nothing had changed; this revolution needs to take place, even if it slows down to an evolution. But I personally don't even think we're in evolution-territory yet.
Like I said at the outset, it's easy for us to get caught up in a whirlwind of down-beat news about the crypto-markets; even if we manage to stay relatively calm and level-headed in the eye of the storm where the winds have no hold on us, these winds still carry with them a lot of sand, rubbish and broken dreams, blocking the view to the outside. On the outside however, things aren't much better. Our crypto-crash came right on the heels of a general stock-market slump and a regular crash among the FAANG tech stocks; only last week Facebook, Amazon, Apple, Netflix and Google (Alphabet) lost one trillion dollar combined in a day. One trillion dollar. This news came at the same time that all stocks in the S&P 500 lost all gains from 2018.
Stock Market DROPPED Over 500 Points! FAANG Stocks Have Lost $1 Trillion in Value!
Now, I'm not a trader; I'm just a small HODLer, your average crypto-brother, but this news cheered me up some more. First it made me put the crypto-crash in some much needed perspective: all markets are bearish right now. I suspect that the fear of an interest rate raise by the FED in December has a lot to do with it. It's no coincidence that stocks worldwide went up during the "free fiat money" period following the 2008 financial crash; stock markets go up when the money-printing machines are working overtime, and that inevitably stops when the world's central banks give those machines a break.
Second thing that cheered up the HODLer in me was my personal fiat-situation, which is quite miserable; I'm in real danger of losing my job, and so is my girlfriend because we both work in sectors that are cutting back heavily. And what will happen to all the countless employees of the FAANG corporations? They will start to worry about their jobs too, and what's really funny is that as a result they'll cheer on their employers when they take action to cut back on costs, they'll be worried, yes, but generally they'll understand that the corporation needs to do this if there's any hope that they at least can keep their own jobs.
These realizations are the exact reasons why the world needs you, dear fellow steemian. This other, bigger, ever looming crash of the self-perpetuating fiat-scam is why we need to hold our ground. Notice the way we keep feeding the beast; banks cause financial crisis through accumulation of debts by printing money without adding value of any kind, then banks demand for even more money to be printed or else the world as we know it will end, then governments inflict upon their peoples the curse of austerity while keeping interest rates low for corporations and banks with the lie that they will create jobs while in truth inflating stock prices, for a large part by buying back their own stocks. This is how the dichotomy is created between the sunny economics in the news that reports yet another rise of the Dow Jones and the cloudy economics of day-to-day life where two jobs aren't enough to get payed a living wage. Yet the sunny news, the constant promising of better times to come, are what makes the average worker fear for their job, while simultaneously giving support to the system that keeps them afraid.
De-FAANGed: Big Tech Loses $1 Trillion
This is the cycle of power we need to break out of, and we're the ones that have understood that for quite some time now. The good news is that ever more people are starting to realize the same. One of my favorite YouTubers and fellow steemian @corbettreport posted about the FAANG crash a couple of days ago, and like him I also choose to see the possibility that the heavy losses of the FAANG corporations might just be a sign of more and more people waking up to the evil that is a corporate ruled world. If that's the case, if people start leaving Facebook, Google, Amazon and the likes because of the centralized powers they represent and the manipulation of markets and news they are guilty of, we'll be here to welcome them. All of them.
Don't lose faith, my brothers and sisters, is what I want to say. I'm so sorry if you've left the crypto-sphere or if you were forced into a particular path you hadn't imagined for yourself just a couple of months ago. I hope you manage to ride out this this storm and not slip on the "blood in the streets". Don't get blindsided by the hype around the BCH fork and try to stay focused on the end goal, keep a birds-eye view on all the storms and put ours in perspective. In short: keep steeming 😉
Thanks so much for visiting my blog and reading my posts dear reader, I appreciate that a lot :-) If you like my content, please consider leaving a comment, upvote or resteem. I'll be back here tomorrow and sincerely hope you'll join me. Until then, keep steeming!
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