Crypto: More Than Just a F**k You to the System
If you are interested in crypto, you might have read the recent article by Omid Malekan on Yahoo Finance, titled "Want to understand what’s truly driving the crypto boom? Think of it as intergenerational revenge".
In this article, Malekan argues that crypto is appealing to younger generations who feel betrayed by the older ones who have rigged the economy in their favor. He claims that crypto is both a disruptive technology and an asset class that challenges the status quo and offers a chance for wealth creation and social change.
While I agree with some of his points, I think he misses some important aspects of crypto that make it more than just a form of revenge. In this blog post, I will try to expand on his article and show how crypto is changing the world in positive ways.
First, crypto is not only about Bitcoin and its price. Bitcoin is the first and most famous cryptocurrency, but it is not the only one. There are thousands of other cryptocurrencies, each with its own features, functions, and communities. Some of them are designed to improve on Bitcoin's limitations, such as scalability, privacy, or energy efficiency. Others are created to enable new possibilities, such as smart contracts, decentralized applications, or digital identity. Crypto is not a monolithic phenomenon, but a diverse and dynamic ecosystem that evolves and innovates constantly.
Second, crypto is not only about money and markets. Crypto is also about culture and values. Crypto is driven by a vision of a more open, fair, and inclusive society, where people can participate in the economy and governance without intermediaries or gatekeepers. Crypto is inspired by the ideals of decentralization, transparency, and sovereignty, where power is distributed among the people rather than concentrated in the hands of a few. Crypto is supported by a global community of enthusiasts, developers, entrepreneurs, activists, and educators, who share their knowledge, skills, and resources to advance the common good.
Third, crypto is not only about disruption and revolution. Crypto is also about collaboration and evolution. Crypto does not aim to destroy the existing system, but to improve it or create alternatives to it. Crypto does not reject all forms of authority or regulation, but seeks to establish new forms of legitimacy and accountability. Crypto does not ignore the challenges or risks that come with innovation, but strives to address them with responsibility and creativity.
In conclusion, crypto is more than just a form of intergenerational revenge. It is a powerful force for change that offers opportunities and challenges for everyone. Whether you are young or old, rich or poor, optimistic or pessimistic, you should pay attention to crypto and what it can do for you and the world.
References:
: https://finance.yahoo.com/news/want-understand-truly-driving-crypto-164149449.html