We are told that the end is coming. Cryptocurrency is going to zero or is a scam. Blockchain, on the other hand, is well liked with great potential as long as it is controlled by the establishment.
That is the mantra we are fed.
This should be a lesson to every single Steemian. Anything you hear from the mainstream media is presented from an agenda and is not true.
The recent price action should alert all of us to what is going on in the cryptocurrency world. We are not seeing the end of crypto but, rather, the beginning. Wall Street is not going to destroy crypto; they are going to make it.
We are witnessing a grand manipulation. This is classic. It is crucial to remember the banker playbook.
- Attack it to scare people away.
- Send in the government hacks to regulate it.
- Buy it with their fiat.
We can see all three in play. The market is being manipulated by the establishment. Why are they doing this?
Obviously, to buy up all they can.
Do you think it a coincidence that the reports are not coming out that an ETF will be approved in February. That will be the beginning of liftoff. Between now and then, they will buy up all they can.
Once again, why are they doing this if cryptocurrency is going to be worth nothing?
The reality is that cryptocurrency is here to stay and blockchain is going to change most industries over the next decade.
Make no mistake, this is not a small market that is developing. Wall Street is aware of how big it will be. We are seeing the tokenization of the world starting. This means every asset class will be liquid. It will also be decentralized.
In the past I wrote how the market for cryptocurrencies will hit a quadrillion dollars. Now, this is not only the currencies as we know them today. There will be security tokens which amounts to hundreds of trillions of dollars. We are also going to see what I term "Income" tokens. These tokens will represent the cash flow on a piece of real estate, as an example. Hence, we could have two different tokens on the same property (actually 3 when you consider the main digital asset which the other tokens are tied to).
This will also apply to earning potential of professional athletes. They will tokenize their future earnings. Movie studios will tokenize big budget films. Even the record companies will do that with concert tours of big names. The possibilities are endless.
My view is not alone. Recently I came across an article that essentially discussed Ethereum. Nevertheless, the author pointed to the derivatives market all being on blockchain in addition to cryptocurrency and other assets. I agree with this idea.
https://level01.io/2018/07/30/blockchain-enable-quadrillion-dollar-derivatives-market/
We are not even aware of how much will be created over the next 10-15 years. The derivatives market is enormous yet it basically excludes the average person. Essentially, it is a closed ecosystem which only the elite insiders and a select few can play in.
What is ironic is that the establishment attacks cryptocurrency as being worthless and having no inherent value. They conveniently overlook the fact the derivatives market is worth hundreds of trillions of dollars and is created out of thin air. They are nothing more than products that used other assets as a basis. The problem is that many of the assets used are nothing more than derivatives themselves. This process is repeated over and over.
Cryptocurrency has no less inherent value than most financial products on the market. The major difference is that the average person is now allowed entry unlike the present system. This is something that is overlooked by many. It is also why I believe the major FUD launched at it. The elite do not want the average Jane or Joe involved. They want to monopolize the way to build massive wealth. Trust me, central banks are not the only ones "printing money". Every major Wall Street firm does the same thing.
And now, the ability is offered to all. Is it any surprise that the establishment is attacking the daylights out of it?
We are looking at a quadrillion (or multi) dollar market and they do not want to share. They will do everything they can to maintain their control.
Fortunately for us, they will fail.
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