At the bottom, as a related idea, you will find my trendline from February.
Those who follow me also know that I have been very accurate at predicting both short-term and long-term trends. Now, why is that?
It is because I have been following the fundamental principles of markets for years, and tried to understand their weaknesses and strengths.
Some may have heard that so far, the best case for crypto has been 3rd world countries with no access to banks or Muslim countries that discriminate against women.
This has been the argument that even the biggest crypto skeptics agree on, because it is simply obvious.
However, there has been a strong sentiment that this may have no use in the west, because we have a stable economy and stable banking system. And to a part that is correct. It's known that the banking system has its tantrums and it's not perfect, but crypto does that too. A person in 3rd world country will be completely fine if his currency stably fluctuates by 50%, because that is still more consistent than their government. I don't think that we need more arguments for 3rd world countries because that is already happening.
However, the sentiment has been that 1st world countries use it for speculation purposes and Ponzi schemes only. I will agree that 90% of people do use it that way.
So why did I mention $95 trillion in the title?
As much as this is common in the US, investing in stocks is not common in the EU and Russia. Even in the US, you generally invest in funds that manage your money. Well, how do you make sure this is a safe investment?
The only investments that actually make sense and bring any money are those that can cumulatively bring profits. And those are long-term investments (10, 20, 30 years +). Such investments are almost foolproof and cumulative growth simply outweighs any year-to-year market fluctuation.
Well, the way a retail investor can invest is through trading platforms and banks. Banks fail. Platforms are often corrupt and I'm not sure who would trust them and leave their assets there for such a long period of time. In my opinion, for 99% of people, there is simply no other safe alternative than crypto. No matter what happens with the total value, it will hardly ever go to zero, it will hardly ever fail and it will never be as prone to human error as the stock market, or more precise, the institutions that create, distribute, and hold securities and assets.
To have a long-term mindset, you actually need to be able to safely invest for the long term. And this has simply been impossible for small investors. Only billionaires can safely get, hold, and store stocks.
Furthermore, it is hard for a small company to get out on the stock market and have a chance to grow. This further reinforces the statement that the rich will get richer and the poor will get poorer. I'm not a communist, and I have nothing against the rich getting richer, but the poor should also have the same opportunity to get richer without government assistance, connections, blackmail, and corruption.
In conclusion, I don't think that there is only a possibility that crypto platforms will replace this system, I am 100% certain that this is inevitable.
And I want to expand upon my point that I don't think there should ever be cryptocurrencies. What I'm referring to as crypto in this text is actually a secure protocol for the transfer of information and the creation of contracts.
I see a world where there are 0 currencies ever in existence. Currencies were a necessary and problematic middleman, used to practically exchange goods, without having to carry everything that the other person may want.
Now we can actually do that. We can choose to trade any fraction of our economy we wish to, for any good or service. A dollar was a bed derivative of the economy, because at the same time something could be twice as expensive, while something else remained the same. This way, you can exchange any part of your portfolio (whichever is doing best or worst) for a good or service.
This allows you to compensate less with your money, and it allows you to stay invested 100% of the time and be completely liquid at any time necessary to buy things. Having to decide how much to set aside each month and how much fiat will you use is very impractical and inconsistent. And often makes you compensate by consuming too much or too little.
I hope that there will be new competitors, and I am searching for anyone with the same Idea, but so far, I have found that only Cardano brings this possibility to the table and I am very happy that there is finally a product that I've been searching for. for years.
Those who follow me also know that I have been very accurate at predicting both short-term and long-term trends. Now, why is that?
It is because I have been following the fundamental principles of markets for years, and tried to understand their weaknesses and strengths.
Some may have heard that so far, the best case for crypto has been 3rd world countries with no access to banks or Muslim countries that discriminate against women.
This has been the argument that even the biggest crypto skeptics agree on, because it is simply obvious.
However, there has been a strong sentiment that this may have no use in the west, because we have a stable economy and stable banking system. And to a part that is correct. It's known that the banking system has its tantrums and it's not perfect, but crypto does that too. A person in 3rd world country will be completely fine if his currency stably fluctuates by 50%, because that is still more consistent than their government. I don't think that we need more arguments for 3rd world countries because that is already happening.
However, the sentiment has been that 1st world countries use it for speculation purposes and Ponzi schemes only. I will agree that 90% of people do use it that way.
So why did I mention $95 trillion in the title?
As much as this is common in the US, investing in stocks is not common in the EU and Russia. Even in the US, you generally invest in funds that manage your money. Well, how do you make sure this is a safe investment?
The only investments that actually make sense and bring any money are those that can cumulatively bring profits. And those are long-term investments (10, 20, 30 years +). Such investments are almost foolproof and cumulative growth simply outweighs any year-to-year market fluctuation.
Well, the way a retail investor can invest is through trading platforms and banks. Banks fail. Platforms are often corrupt and I'm not sure who would trust them and leave their assets there for such a long period of time. In my opinion, for 99% of people, there is simply no other safe alternative than crypto. No matter what happens with the total value, it will hardly ever go to zero, it will hardly ever fail and it will never be as prone to human error as the stock market, or more precise, the institutions that create, distribute, and hold securities and assets.
To have a long-term mindset, you actually need to be able to safely invest for the long term. And this has simply been impossible for small investors. Only billionaires can safely get, hold, and store stocks.
Furthermore, it is hard for a small company to get out on the stock market and have a chance to grow. This further reinforces the statement that the rich will get richer and the poor will get poorer. I'm not a communist, and I have nothing against the rich getting richer, but the poor should also have the same opportunity to get richer without government assistance, connections, blackmail, and corruption.
In conclusion, I don't think that there is only a possibility that crypto platforms will replace this system, I am 100% certain that this is inevitable.
And I want to expand upon my point that I don't think there should ever be cryptocurrencies. What I'm referring to as crypto in this text is actually a secure protocol for the transfer of information and the creation of contracts.
I see a world where there are 0 currencies ever in existence. Currencies were a necessary and problematic middleman, used to practically exchange goods, without having to carry everything that the other person may want.
Now we can actually do that. We can choose to trade any fraction of our economy we wish to, for any good or service. A dollar was a bed derivative of the economy, because at the same time something could be twice as expensive, while something else remained the same. This way, you can exchange any part of your portfolio (whichever is doing best or worst) for a good or service.
This allows you to compensate less with your money, and it allows you to stay invested 100% of the time and be completely liquid at any time necessary to buy things. Having to decide how much to set aside each month and how much fiat will you use is very impractical and inconsistent. And often makes you compensate by consuming too much or too little.
I hope that there will be new competitors, and I am searching for anyone with the same Idea, but so far, I have found that only Cardano brings this possibility to the table and I am very happy that there is finally a product that I've been searching for. for years.
Comment:
I am just updating my old ideas, in the meantime, I became a Bitcoin maxi and I figured out that everything mentioned here can be accomplished on Bitcoin network.
ETH was maybe the first to offer smart contracts, which was cool to play with, Cardano wanted to do it better than ETH, but they are both out of competition with Bitcoin.
ETH was maybe the first to offer smart contracts, which was cool to play with, Cardano wanted to do it better than ETH, but they are both out of competition with Bitcoin.
In my country, it is almost impossible to get out of debt once you get into trouble. Products like crypto visas and also crypto ATM machines can help a lot in avoiding government control over people in debt.