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Cryptos are falling sharply. Why?
Maybe it’s time to take a closer look at where we are right now, instead of into the whimsical future…
Facts.
We use fiat as evaluation units when we look at the crypto prices. Maybe some XXX/BTC XXX/ETH prices are considered too, but when the world seems to be falling apart, no one cares about crypto2crypto prices any more.
When ICO ‘fails’, the new toy in town is the STO which is deeply connected to the fiat world.
When BTC price is stagnated, everyone expect more fiat to flow into crypto via something like ETF
You CANNOT live off crypto entirely in 99.999% of the world without converting it into fiat
The so-called “stable coins” that aim at following the value of …… yes, fiat.
Come on, guys. This is not the revolution we are looking for. This is not the world that Satoshi Nakamoto imagined. This is not even close to the full potential of the blockchains.
Why fiat is so powerful? Because it’s what most people all over the world want now. It’s as simple as that.
Crypto needs to be a much more powerful candidate to compete with the fiat status quo, and this takes time, effort, pains and vision.
Hence, it’s so natural to see this fake crypto world falling like it is now. Crypto is now like a sidekick to fiat, surviving off of the incumbent giant monster with little revolutionist look on their faces.
The good news is that crypto will never die. Why? because the seeds were planted all over the world and they are growing and growing without much awareness from the pubic. One day, this world will be so powerful and challenges every financial order that we know of.
But that day is not today, no tomorrow, not next month, and not even next year.
Now we have to go back to where we came from - the old economic order. We may have to continue the way we live, but we are all different now and we know there are so many out there like us…
Waiting for the D day to come.
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This page is synchronized from the post: ‘To fiat or not to fiat, that’’s the question’