What If Crypto Died?
Before The Dip; Lifestyle of The Uninitiated.
I must have come across Bitcoin around 2013 but it was not anything more than a slight brush, without any deep connection or desire to carry out further research. Furthermore, my monthly pocket money at the time was about $60 so I couldn't even afford to buy Bitcoin if I wanted to. After that, I never really paid attention to the crypto space until mid-2016.
For the majority of today’s crypto enthusiasts, the crypto journey began around mid-2016 (for the very early), and early-2017 (for the early birds). Majority of these folks got on the crypto train in 2017 around which time the crypto space was beginning to gather some steam.
Crypto was sold, knowingly or otherwise, as a means to make a living and an escape from the hitherto harsh realities of life. For people living in countries with weak economies and a lower standard of living, this was all the ray of hope they needed to run after this new craze called crypto, or to sound more professional, blockchain.
Even though crypto seemed like this “ray of hope”, there was still a level of barrier to entry for those who dearly needed it as a means of escape. They could not easily cough out $1000 to “invest” in Bitcoins or build miners or buy Masternodes. Most times, it was just a case of reading up stories and being fascinated by the potentials without being able to actually participate in the industry that was unfolding before their very eyes. This was the life they were living and it sucked.
Have you ever been in a situation where all you could do was look on through the window without any hope of ever getting in to actually experience and be a part of the action? If you have, then you'd know how it feels.
Enter Steem…
Steem, via steemit.com, massively lowered the entry barrier to almost nothing. Before it, it was almost impossible to imagine a way to get into the crypto world without having to put in a massive investment up front; well, two people could and thankfully they did. Now all you needed to do was to create something of value and you could get rewarded. This, finally, was a lot more than the initial “ray of hope” that the introductory knowledge of crypto provided; this was the real deal!
All of a sudden, kids from Africa who would have hitherto been thrown into the unforgivingly harsh realities of the job market in search of jobs that do not exist were now sponsoring events and helping their family out in amazing ways. There was now more than enough to survive and they were no longer “just surviving” but now had so much that they could afford to finally accumulate those bitcoins they had always coveted. They could now dive deeper into the crypto and blockchain space. These people majority of who were college kids at the time could boldly lay claim to thousands of dollars in their name. It was like a dream. It was a dream - one that came true.
The Fantasy
I am one of these people. I have my story but today isn’t about me in particular.
I watched young people light up and come alive, brimming with ideas on every side. I saw a glimpse of what people could achieve if they ever had the resources. I witnessed the freedom of not having to worry about money brings and how it manifested differently in each individual. Looking back now, everything happened within a short period of time but back then, in the heat of the moment, it felt like an eternity. A lot of things were achieved within that short period of time that made it feel like a whole lifetime.
I partly realized that one major cause of tribalism especially in Nigeria could easily be the lack of the freedom that money (being comfortable) brings. Crypto, and indeed Steem in particular, brought people together. It brought Nigerians together, regardless of tribes. It brought Africans together, with Ghanaians inviting Nigerians over and everyone working together in an environment of fun and excitement.
It, however, felt too good to be true. It all felt like a lie. How would a really young chap somewhere in Africa sit at home all day and in less than six months have enough money to own a car? How do you phantom a different guy having enough money to the extent he was paying other people’s tuition? Or someone else actualizing their dream of creating what has become an annual event from scratch without having to beg for sponsorship!
Tell me, do all these sound real to you?
What If?
It doesn’t take too long for your habits to change. I have come to realize this within the short time the fantasy has been playing out. Crypto, above everything else, is mostly in the form of a “saviour” for these folks I talk about. Remember what I said about the job market earlier? Yes, it is almost nonexistent so for these folks who finally found succour in crypto and have begun to build their dreams and careers around it, what would happen if crypto suddenly ceased to exist?
The hypothetical death of crypto would not mean the death of the technology and ideas behind it.
Crypto as we see it now may cease to exist, but that would likely be because it has evolved or something better has been created .
One saying I very much believe in is this "technology and ideas can hardly, if ever, be destroyed"
We must remember that even if one computer in the world continues running the bitcoin "software" so to speak , then crypto will still exist.
ifcryptos were to cease existing, the ideas of so many will not die, we will adapt, evolve, integrate our ideas, the concept of decentralization will live on, and we would have a different world than if crypto had never existed
Everything dies and as far as I know, cryptocurrency dies every time there is a dip, but it has become clear that it is only the short term speculators that lay it to rest. While the others go with it into death and come back walking alive again.
Before now, Forex was the big thing but to many, Forex is dead right? Wrong! It is still a 1trillion dollar daily market bubble that somehownmamages not to burst.
Cryptocurrency brought a world of possibility where everyone and anyone can determine their earning with some algorithms and or smart contracts, there is always a place to pick up from.
@Fisteganos, Crypto dies everyday and with it many bite the dust, but there are many who have become believers and will live and die in Crypto.
Thanks for this lovely post @fisteganos, wish I was there at the beginning.
Cryptocurrency has come to stay... It's the future. Decentralization will be the new reality soon enough..and social media would be the carrier of the good news. Of these, I am sure.
However, what would happen if Crypto ceases to exist? Uhmmm... Twould be a disaster worse than the 9/11 & the Tsunamis! Hence I advise that all crypto peeps also have an alternate source of income... Or an alternate investment outside crypto and preferably offline. Better to err on the side of caution than to regret not having a plan b. A word is enough for the wise.
People who have made money in crypto over the years all have a kind of mindset and attitude..... That is the attitude of survival..... Not just survival, but smart survival.....the volatile market, ban from different government and sectors but they still stood. It's a more than just holding, it's a mindset. That helps them survive.....
I dare say that if cryptocurrency dies, these people won't..... Because they've learnt to survive volatile situations.
But it can't and won't die..... Blockchain and cryptocurrency are here to stay
Great mindset, the one that is ready to survive any encroachment.
Great mindset, the one
That is ready to survive
Any encroachment.
- mediahousent
I'm a bot. I detect haiku.
I appreciate the fact that cropto has bailed many out of suicide from hardship and joblessness. It is only a matter of time that about 50% members of society particularly in Nigeria get to understand it and adopt it. I don't see crypto being out of fashion any time soon, it can only get better to change the lives and government systems of the world.
Well if it does, seed time and harvest will never cease. I will continue my farming expanding as much as i can yearly all to feed my nation and beyond.
Seriously, have gone way too past my boundaries. I can't wish for this to happen. I neglected my Law Internship for the crypto & blockchain ecosystem.
But let's face the reality here, nothing has a beginning without an end. If cryptocurrencies should fail which I think it is impossible now cos it is just in its early stage of adoption. I will go back to Law and Entertainment. I just hope it is not too late by then.
Resteemed!
Well, I think the world has gone past the idea of thinking nothing is impossible. The enablement that cryptocurrencies has achieved will definitely lead to something more encompassing so far there is internet. If it dies.
It had better not seize to exist because I just joined the train, fact I won't even think of it.
Crypto has come to stay.. Shikina😁
Please sir, remove the "what" from the "what if"
I like having thoughts like
if this coin hits $1 then i can buy my car.
if that coin hits $15 then I can build my house and reinvest the rest.
😁😁😁😁
Lmao
Hmmm
If crypto ceases to exist, then i'm glad I used the opportunity to build myself a portfolio, a kind of c.v that shows off my activities and works over the time. Moreover, i think I have been able to build relationships that could help serve as a good referral or reference purposes, these things could lead anywhere in life. Lastly, any thing man made can cease to exist at anytime no doubt, this is why I tell the people I invite to steemit, to see steemit beyond an earning platform, but a platform to build their skill and audience that will help them remain relevant even outside of steem.
Blockchain is the future, and steem is at the forefront of it. Cryptos are pretty much here to stay.
Hi captain Fi!