Finance Uncategorized

SAVING THE WORLD WITH BITCOINS

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“Change has to be made within, any attempt to manipulate our world externally to try and make a fairer financial system will ultimately end up in the same place.”

I see a lot of people believing that they are saving the world by buying digital currencies and forming an alternative monetary system to ‘out-smart’ our evil government and corrupt media but after really immersing myself into the world of crypto I see everything, yet nothing has changed.

Whilst we have so many fantastic platforms springing up with ideas that can change society and with great social impact, we also have ico’s paying for media exposure for their tokens and press taking us back to the same old manipulated markets we are trying to escape. It was recently announced that John McAfee charges $105,000 per promotional cryptocurrency tweet. Many people followed his tips believing it to be unbiased and now realise that it was all promotional material.

It has also bought unrealistic expectations into the world of business. People are investing more money than they can afford to loose and due to the known volatility of crypto expecting coins to moon in a week or start asking how they are now going to feed their kids?!  How many companies can literally pull their stuff together in a week or even a month or even 6 months, it’s all become about instant gains over finding companies to support we truly believe in. A company takes years to build as part of a process that doesn’t always require it ‘mooning’ in it’s first few months’. We have become a community obsessed with instant gratification over long term gains and stability. If you are interested in an ico, invest because you believe in the idea, you feel like it will help humanity and then have the patience, knowing you invested in something you believe in, to allow it to mature . For instant gains, there is the chance to trade on the exchanges without the need to get socially invested in a companies future. For many this technology is new and the companies out there are pioneers who are finding their way and they now have the additional pressure that they need to double someone’s life-savings in a few months to be supported.

It’s created emotional reactions due to people investing what they are not willing to loose and we have yet again  become controlled by the media, being easily driven by fear mongering and positive news stories and fear of missing out (FOMO) or fear of loosing.

We have so many awesome projects springing up that have a great social impact but even the cleanest, most pure currency and idea in the world can be corrupted in the hands of ppl who are greedy, the only thing that can ever rly change anything is our attitudes to money as a society.

Whilst we still have media manipulation, the wealthy top percent (whales) pumping and dumping coins to get rich and with a ‘screw everyone else’ attitude, scam coins etc etc crypto will only be the same as our current financial system… corrupt and controlled by the 2 %. We could trade in pebbles and it would still be the same. Someone making only yellow pebbles trendy, someone stealing someone else’s pebbles. The point being, the currency alone cannot make us have a better world it’s just a tool. It’s our values and working towards creating an eco system we can grow in and take others with us that will help, a system where we look out for each other, not just ourselves at the expense of everyone else.

Change has to be made within, any attempt to manipulate our world externally to try and make a fairer financial system will ultimately end up in the same place. Digital currencies and blockchain technology can offer a great potential platform but if people are going to play by the same old rules it will be just the same old system. Whatever currency we have will end up as a reflection of where society is at with their relationship to themselves, the world and to their fellow humans.

References

https://www.theverge.com/2018/4/2/17189880/john-mcafee-bitcoin-cryptocurrency-twitter-ico

 

ARTICLE AND PHOTOGRAPHY @ SARAH LOUISE JOHNSON