We all know the difficulty in getting people in the West to embrace cryptocurrency. Most of us in the U.S. or Europe spoke to family and friends only to be rebuffed. Depending upon how often we brought it up, we might now be categorized with the strange Uncle, standing off to the side at family gatherings.
Most who are around crypto for any length of time understand the tenets behind it. Bitcoin was created as a result of the financial crisis of a decade ago. The idea was to provide an alternative to the present financial system, one that is wrought with corruption.
The challenge is that, for the most part, in the West, things work fairly well. For all its shortcomings, the banking system is dependable. Yes the fees are outrageous and they are crooks, yet when you check your bank balance, your money is there. Outside of a few instances, governments have not resorted to giving people haircuts of 10% or 15% of their bank balance.
Of course, over time, all things change and I am not sure we can make the same claims we did 6 months ago.
In the West, the reaction to the coronavirus is amounting to economic suicide. The "hangover" from this is going to last long after the economy re-opens. We are closing in on 30 million people having lost their jobs, many of which will not come back. Hundreds of thousands of small businesses are closed, many permanently.
The political establishment is using this opportunity for political gain. They seek more power and are using everything they can to accumulate that. One person I read even referred to it as the "Facebook-gulag". No need to cart people off to a faraway land and lock them up. Simply keep them at home and delete anything to the contrary of what the agenda is.
We are seeing moves away from freedom which, I believe, is one of the core tenets of cryptocurrency. Since this is the case, will we see a reversal in the minds of many of those in the West who previously dismissed cryptocurrency.
For years, I felt one of the biggest advantages to this is the opportunity to create a new distribution system. The present one is obviously enriching the select few while omitting the masses. Study after study revealed how the average person, over the last few decades, only fell further behind.
We saw a race for the third world. This was a major focus for cryptocurrency projects. Many set out to target the unbanked (and under banked). Applications such as RuonAi and Voice seek to penetrate those parts of the world since they are open to new ideas, using social media.
The need is there and the population knows it.
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Unfortunately, the West did not realize the need. As long as the paycheck showed up every two weeks and the Kardashians were on television, all was well. After all, who cares what the true cost of a car is as long as I can afford the monthly payment (for 84 months). Each Christmas season we see record sales, in spite of the fact that incomes are not rising. If the credit card works, keep using it.
My view is the "slowly boil the frog" is about to burst. The power grab, in this instance, was an over-reach. Unlike 9-11 which brought people together, this situation is only dividing people further. Those who are in support of the power hungry agenda are being exposed.
Of course, the impact on this is hitting people where it hurts: right in their pocketbooks. Livelihoods are being eliminated as I write these words. The mega-corporations are getting together in their boardrooms to determine ways to make sure they are not caught in this situation again. I can tell you their answer is automation and they are fully aware of that.
Most on here are aware how misleading the mainstream media is. We also know millions tune in and swallow their ideological flavor like candy. The media likes to tell people who is responsible yet none of that matters when there is no food to eat.
People are scared and they have good reason to be. Their gullibility is being used against them by some powerful entities. Power is at the core of all this, something people need to quickly realize. The West is committing economic suicide right before our eyes.
The good news is all of this is opening the door for crypto-economics. As the present system breaks down, desperation sets in. The power grab is, in large part, being done to try and hold on. Awakening is something they cannot afford yet it is taking place. People only need to look at their paychecks (or the lack of one). It matters little who is responsible because, in the end, they are all the same. Whether right or left, trusting a group of politicians is not smart.
We are going to be exiting the world of rent-seekers while moving into one with a better design. How quickly people grab onto this concept is the only question. The West is a bit slow to come on board since most believe what they are told. A global depression is going to open up a few eyes.
Immutability, freedom, transparency, and sovereignty tend to be catchwords that people like to banter about. However, with all that is taking place, these are values that people will have to start embracing. It is the only way to combat the enslaving system that is growing before us.
Is the West becoming more open to cryptocurrency? I believe it is the case. Between the governments and the likes of Facebook and YouTube, it is becoming evident what is happening. While most are still asleep at the wheel, millions are waking up nonetheless. Something is so amiss that people cannot help but to see it.
The next few years will likely be rough for most. Over the next couple months, we are going to realize the economic impact of all this. It is then that people are going to be forced to look at things differently.
As we know, government and bankers hate competition. It is one of the reason for the rumors they will ban stablecoins. They are going to do all they can to ensure people remain using the currency that is approved by the elites.
Fortunately, the worse things get, the more people are open to alternatives.
And this is where cryptocurrency stands to gain users.
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