This week, we celebrated Bitcoin's 10th birthday. What an evolution the whole crypto space has been going through since its inception!
My belief is, it will NOT take another ten years before cryptocurrencies go mainstream and will be used by us on a daily basis.
Photo from Unsplash
The old paradigm system is about to enter the 4th stage of grief
You may be familiar with the 5 stages of grief, that someone goes through after they lost something (or someone):
1. Denial
2. Anger
3. Bargaining
4. Depression
5. Acceptance
Looking back at Bitcoin's 10-year evolution, and people's reaction to it, I believe our old paradigm system has been going through the first three stages, since Bitcoin came on to the scene and started to threaten its power and existence:
At first, Bitcoin got ignored and laughed at (1).
Then it was heavily fought - the mainstream media only reported negatively about it and associated it with crime; Bitcoin advocates were put in jail, exchanges were shut down, and crypto ads were banned on social media (2).
Eventually, banks, governments and corporations said, "OK, actually we do like blockchain technology, but without Bitcoin and the whole decentralisation part." (3)
These stages don't exactly follow a linear pattern, and they overlap a bit, but I believe...
In 2019/20 we will gradually move into stage 4: Depression.
Everyone who's been paying attention can see the writing on the wall: the next financial crisis is already in the making. Some say we never got out of the one of 2008.
The next few years may not be pretty, but let's focus on the prize - the 5th stage: Acceptance!!
While I have no clue what this crisis will look like, and how badly it will affect us, I do want to spread a bit of hope.
For the first time in history we have an alternative now: cryptocurrencies.
Whenever there was a hyper-inflation and extreme devaluation of a local currency before, people suffered because they had no other choice. And this is what's different this time around: we do have a choice this time.
Remember, Bitcoin & other cryptocurrencies exist outside our current money system. They do not belong to any government or central bank. This is the reason why they will not be affected, whenever there is a local or global crisis (at least not negatively).
My whole mission with my business is to spread awareness, so that people can begin educating themselves now, when there is no pressure yet. Most of our currencies still have value, and the price of cryptocurrencies is very low at the moment.
The closer the next financial crisis comes, this will flip, though.
As more and more people lose trust in their political or financial system, they will look for alternatives and find them in cryptocurrencies - outside the system they lost trust in.
The more people buy into Bitcoin (& co), the higher its price will go. At the same time their local currencies will get devalued and become worth less and less.
The last people to wake up will lose the most, because by then their currency is worth nothing, and the price of Bitcoin has gone to astronomical highs.
Depression will pave the way for Acceptance
You also have to consider that once a crisis hits, merchants will have to adapt quickly, too. Suddenly we will be able to spend cryptocurrencies everywhere, because merchants will have no choice but to accept them, if they want to stay in business.
We can see all this happening in Venezuela right now, where big brands like Subway, Calvin Klein and many smaller merchants are accepting cryptocurrencies by now.
None of us need to suffer in the Depression stage over the next few years
We can all make a conscious choice now. Please educate yourself. Do not wait until you're under pressure and have to make rash decisions.
This is the beginning of a new 7-year cycle. By 2025 we will live in a different world.
Let's co-create a decentralised one, in which we get to live free, financially empowered and self-directed lives.
It might be a rocky ride to get there, but it will be worth it.