The telltale signs that a Great Crypto Lock-Up is underway all around us.
One of the last signposts for this weekend…
South Park just released a new episode that brings out the absolute p!ss of the crypto industry.
Taking aim at the Crypto.com exchange’s recent “fortune favors the brave” campaign – you know, the one with Matt Damon – they changed the product from crypto to urine.
With the slogan:
“Matt Damon is here. Is there any urine?”
But as a longtime fan of South Park, I think it’s a bit lazy. I mean, beating an industry into the depths of a bear market isn’t so smart by their standards.
Personally, I find it more amusing that the world still entrusts these types of people with control of the money:
A good comedy packs a punch, not at all.
However, they are right…
Looking at everything sideways
I’ve been in crypto since late 2013, and every bull market brings out your usual assortment of charlatans, chancers, money hoarders, and frauds.
And frankly, a lot is a load of p!ss.
However, I see a lot of people correlating the bad aspects of crypto with the whole industry. Which is a mistake.
Most of these people are long-time critics of crypto, and it’s usually in their interest to reject it when it’s down.
They rejoice in falling prices as justification for their view in every bear market.
Which makes me scratch my head…
I mean, what kind of horrible person takes pleasure in other people taking losses?
And that’s not even true for anyone who’s been in the industry for more than two minutes.
For example, I first entered Bitcoin [BTC] at $600. It’s over US$20,000 today. And anyone who has been investing for more than two years has probably made a decent amount of money, including many of my long-time followers.
But most – including me – have had to overcome at least one bear market like the current one to really understand the technology and its value.
Anyway, that’s not the point I want to make.
If you only see crypto as a “bet” or a “lottery ticket”, you have it all wrong.
I certainly don’t see the crypto industry as a giant roulette wheel.
At least not the parts I’m focusing on.
Among the dodgy contenders and operators, there are truly some game-changing ideas taking off faster than many people realize.
Some of my favorite crypto projects incorporate Disney, Adidas, Adobe, Facebook, Stripe, Google, Oracle, Square Enix, Block and many more.
I’m not talking about ‘soon’ but at present.
Indeed, I believe the next evolution of crypto will be a silent mass adoption process where people use the underlying tools of the blockchain ecosystem without even knowing it.
We’ll see this happen across the board in consumer brands, logistics, entertainment, and even banking itself.
And when it does, the enemies will be in disbelief!
In fact, they will be very angry about it, as I will explain shortly.
And that is why the current situation is such an opportunity.
I’m showcasing the exact opportunities I’m personally targeting in a free online event this Thursday.
What you will see is this…
While the entire industry is mocked, pilloried and mocked, the value offered to people who take their time to understand what is Actually what is happening is immense.
But we are not there yet.
Indeed, the next step is where it gets very interesting…
First they laugh at you
Super famous tech investor Marc Andreessen is at least one person who agrees with me.
His company, a16z, recently raised $4.5 billion to invest in “urine.”
Andreessen recently sat down with popular podcaster Sam Harris to talk about some of the reasons.
The thing about Andreessen is that he grew up investing in internet stocks from the early 90s.
He literally experienced first-hand the growth of a fledgling industry from next to nothing and the extreme challenges it must overcome.
As Andreessen says, for a long time people were just as skeptical of the value of the internet as they are of cryptocurrencies today.
Indeed, it is a natural process when it comes to new technologies.
As he explains in the roughly 26:30 interview (slightly edited for clarity):
‘First step, the new technology is ignored…
‘The second step is vigorous protest…
‘Step three… when the name calling begins. The third step is basically rage. Existing power structures become incandescent with rage. Because any new technology that works is a reorganization of status and power.‘
Worth a listen (you can hear the first 40 minutes for free here).
And I think that “rage stage” is fast approaching…
Right now, regulators, central bankers and government brokers still think they are in control.
However, this control seems more tenuous than ever.
The masses are witnessing the failure of a bureaucratic system that seeks to control money, energy, markets and everything else.
As the Austrian economist Ludwig Von Mises noted more than two centuries ago, this is how monetary systems always destroy themselves:
‘The boom cannot last forever. There are two alternatives.
‘Either the banks pursue unrestricted credit expansion and thus cause ever-increasing price rises and an ever-increasing orgy of speculation, which, as in all other cases of unlimited inflation, ends in a “crack-up”. boom” and by a collapse of the economy. the monetary and credit system.
‘Either the banks stop before this point is reached, voluntarily renounce further credit expansion and thus cause the crisis. Depression follows in both cases.‘
We’ve seen central bankers play the first hand since the 2008 GFC. And now it looks like they’re trying the second option.
But this is a dangerous time for them and their existence goes on.
As the effects of this financial repression trickle down to ordinary people (it already does), I think they will soon blink and turn the tide to avoid a possible depression.
The prospect of an angry mob clamoring for blood will be too great for them and their political masters.
In short, they will revive the great money-printing boom of the last decade and a half.
And, in turn, destroy once and for all the existing credit-based monetary system.
Rising from the ashes will remain the only asset class not indebted to this dead system. A new monetary system based on bitcoin and running on crypto technology.
Ironically, perhaps fortune will favor the brave after all.
To find out where smart money is making its first plays in the bear market, register for free to attend The Great Crypto Lock-Up Seminar this Thursday…go right here.
Editor, silver morning