Sometimes when I see a picture that inspires me to write a post I'll put it into my pictures folder to be parsed out later. This picture has been there for months. How many months?
Yikes.
I just look at this 'comic' and don't even know where to begin. If I rip on it too hard does that make me look like a blind zealot crypto shill? It's so ignorant and targeted that it almost feels like propaganda.
It really shows a fundamental lack of understanding regarding the decentralized movement. We are trying to build organizations that no one is in charge of and we get criticized for not being valuable because the people in charge are fine and everything is fine.
Why did the real-estate bubble happen again? Because it was being grossly manipulated and exploited. We might make the argument that Bitcoin is similar, but the timelines are way off.
In the time it has taken for Bitcoin to bubble over and over and over again we haven't had a single recession. Why does no one seem to find this obvious timeline information significant? How many times has Bitcoin died again?
Bitcoin is not a store of value: it generates value. Gold and real estate only store value and protect against fiat inflation. Bitcoin has been doubling in value every single year since 2013. Yet so many people have the audacity to tap in to that Dot Com bubble comparison.
Foolish Dot Com Bubble Comparison
If we look at Dot Com and see why it actually went bankrupt (extremely high overhead, little profit, and lots of initial funding) we see that it is impossible to compare to crypto. Yet 99% of people out there seem to think they are smart when they see the "obvious" similarities.
How do you compare a system that governs itself? How do you compare a network that runs in a way that has never been seen before? It's outright arrogance to do so. How many people out there are using this information to make real world decisions? How many will get burned by the rampant age of disinformation we live in today?
Crypto under attack
And it has been since its inception. All the lies that people believe about crypto exist because 'someone' is spreading misinformation on purpose to confuse the issue.
- Crypto is for terrorists
- Crypto is for pedophiles
- Crypto is for drugs and criminals.
Wow, you'd think they'd get a bit more creative over time, but they always seem to start here. A lot less people are currently buying this narrative so they had to move on to other tactics like making the claim that it's not backed by anything and absolutely needs to be regulated. The irony stabs me in the heart.
Crypto threatens central banking, so obviously central banks need to fight back. Some guy... sitting in a room... being paid to propagate the idea that crypto is backed by nothing... paid by a central bank backed by nothing.
And what are the banking regulations for? To keep big banks in line, or to burn the bridge for all lesser competition? Well, the answer is obvious because they keep paying the fines and it has zero effect on action.
Bitcoin is backed by trust.
In conclusion, you couldn't have "lost it all" in bitcoin unless you panic sold like the weak hand you were. You seriously couldn't just stay in the market 3 years, because 3 years is such a long time in the investing world? I just can't right now with that logic. If everyone got their money back after 3 years during the housing collapse no one would even be talking about it right now. Bitcoin is a total scam though.