The times, they are a changing.
Many of us in the crypto world have seen economic collapse coming for a long time. And with the way things have been unfolding with the whole coronavirus hysteria shutting everything down, that collapse seems as though it could be a whole lot closer.
Granted, nothing is guaranteed. We could just be doomsayers, and the Fed pumping $1 trillion per day more into the economy could somehow magically not lead to hyperinflation. For all we know, there could be some unforeseen events that lead to an economic reset, the elimination of all debt, and restabilization of a financial system that's shown numerous signs of failing. I wouldn't advise holding your breath on that, though.
Collectively, we pursued an economic gain of expansive wealth at all costs. And sooner or later, all bubbles must pop.
Business as usual has been disturbed. And there's probably no going back to it. What lies ahead, no one is sure. Though, there's fair question of how we're going to make it to the other side if/when an economic collapse unfolds.
Surely, evolution is a force to be reckoned with. Humans can be resilient and clever creatures, and the emergence of innovations such as cryptocurrency & blockchain have already been testament to the power of evolution working its magic in the form of decentralized self-organization. We've seen the storm coming and have been building new systems to take the place of the ones dying. Yet, even crypto isn't 100% secure. And even if it does emerge as prominent in the future's economy as we've foreseen, there are still many shifts - not only technological, but just as much cultural & psychological - that must occur in tandem for us to make the transition a successful one.
One such shift that may be necessary:
Allowing the death of delusional materialistic dreams we've exhausted ourselves chasing after.
The whole mindset of the capitalistic game with its corporate model has been the pursuit of maximizing profit.
Whether we went the traditional route of going to college so we could work our way up the corporate ladder, or a counter-cultural path of entrepreneurism fuelled by motivational personal development dogma, we have all been constituents of a society that's valued financial expansion. "More is better," has been an unspoken mantra driving many of us at an unconscious level.
Even here, in the crypto world... it wasn't all too long until we forgot about the revolutionary principles and philosophical ideals that inspired our explorations of blockchain and instead got brainwashed with a cult-mind ritualistically spreading HODL memes as though it were the holy grail to lead us all to the ultimate destination: Lambos.
The early visions of banking the unbanked and giving a fat middle finger to The Man somehow got distorted as we, too, slipped into the greed pervasive in our cultural programming. Granted, there have still been many great coding warriors who've stayed true to the mission and kept their focus right. Though the last bull market - and the proceeding bust - definitely provided ample experience to reassess our priorities, strategies, and aims from hereon in.
And while we may have learned a few things from the last rodeo and sit in the midst of what could be the economic collapse of our lifetimes, there's perhaps still a degree of maturation to go through in our response.
I'm probably not the only one whom may have at least some inner hope of profiting in crypto from a potential collapse of the entire fiat system. Though this part of me, I'm not proud of.
As crypto boomed December 2017, I was elated. I was a newfound millionaire. And I was naively willing to bet it all on the collapse of the old system. In fact, there was probably some part of me that even wanted the old system to collapse, so I could be right - and even richer. Had I taken a good chunk of profits to diversify into more "secure" investments, I would've had taken care of the needs of my wife & I for a good few years; but I wanted a $4 million house on the hill instead and was too ideologically-stubborn to admit there still might be more security in fiat. The result: I lost over 95% of it all.
I valued the wrong things. As did all of us lusting after the Lambos.
Losing $2 million Canadian dollars was not fun. But in the experience, came alot of wisdom. And from that wisdom, there's alot of perspective that's relevant where we're at as a collective now.
There's going to be alot of people who may similarly lose nearly everything.
And it's a rather selfish, short-sighted, immature stance to lean back into our cognitive biases and merely imply the solution is just as simple as investing in cryptocurrency, at some level perhaps even hoping the corrupted fiat system crashes for our benefit.
Many of us have criticized the "elite" who've apparently been strategizing an economic implosion - for their own benefit. Yet, there's an element of hypocrisy present if we ourselves are aiming to profit through this collapse - at least without doing our part of service to ensure as many as possible make the transition successfully with us.
IF collapse of conventional systems does play out, Lambos should be the last thing on our minds. (Subjective statement, surely.)
The upside of an economic meltdown: maybe it's time. The greed of extremist capitalism has had far too great destructive consequences on both people and the planet. A reset is in order.
Yet, we can't just expect the CEOs to give up their extravagent bonuses, without ourselves recalibrating our own ambitions.
We can't - without hypocrisy - desire the excesses of those in worldly power to be curbed, without a willingness to make adjustments in our lives to embody the type of fair, balanced leadership that may set an example of sustainable wealth.
We can't ask the institutional structures of our society to reconfigure themselves for greater justice & equality, if we aren't willing to adjust our own relationships with money to reflect a more harmonious way of life.
Sure, theoretically we could continue to rebel against The Man and judge the faults of the failing fiat system while feeling self-entitled to living the lifestyles of Instagram superstars. But if we ourselves aren't willing to walk our talk 100% and embody the values we'd prefer our economic structures to reflect, then why the fuck should the world rearrange itself for our materialistic desires?
If we aren't living with higher purpose and putting to rest the youthful ambitions of excess wealth to enter a consciousness of sustainability as exemplified through our being, then how could we realistically expect those in positions of "power" to do what we ourselves have refused to?
It's probable crypto will boom again.
Though is our aim throughout that course of destiny to become one of the new generation of financial elite, or secure ourselves humbly to pursue our mission of service to humanity?
Are we daydreaming about all the fancy things we'll be able to buy, or immersing ourselves in the work to help BUIDL these new economic systems that'll enable millions to transition successfully if/when the old collapse?
Are the investments we're making strictly for profit, so we can carry on the legacy of a generation who valued "more" over sustainable abundance for all, or are we investing in the development of new systems wherein everyone can contribute in the ways they're uniquely equipped to that can provide enough to fulfill their purpose & mission?
Ideally, it'd be great if there were a reset possible that wouldn't wipe out millions of people financially. Though whether that were to somehow miraculously happen, or we're fated for a collapse that'll test our resolve to adapt, we are being called to change our ways.
Both individually and collectively, it's time to reassess our values.
And it's time to let go of our deluded dreams of finding meaning & purpose in the competitive pursuit of materialistic measurements of success.
That's not to say we can't indulge in the materialistic fruits available that are here to be enjoyed. Certainly, there's nothing the matter with a few well-appreciated rewards along the journey.
Though if this larger economic transition is one we're going to make together successfully, there's some serious reprioritization to do.
Or who knows. Maybe I got it all wrong.
Maybe there's no requirement to care for anyone else's wellbeing, it truly is "survival of the fittest," and he with the most toys wins.
Maybe whoever said, "the definition of insanity is doing the same thing expecting different results," was merely a quitter who lacked persistence.
Maybe this time the Fed pumping $1 trillion per day more into the economy could result in something different than hyperinflation, and we could end up playing the system at their expense.
There are no guarantees here.
Though either way, we still face the question: what choices shall we make to immunize ourselves against the unknown, so as to remain satisfied with a quality of life independent of external circumstances?
If we end up profiting well - whether from crypto or the stock market or seizing whatever other opportunities may be created in these new economies - the materialistic rewards may be a nice bonus. But allowing the old dreams of riches to die so we can be present with the non-material blessings here in the moment, how many we lay the internal foundations for our dream lives that can't be fucked with no matter what happens in any market?
Or maybe the Buddhists had no clue what they were talking about in regards to suffering being a product of attachment to possessions, rap stars are the new gurus leading the ultimate ideal lifestyle, and we oughta just shut up and go back to our Lambo mantras.