We all come into this world having no limits, no fears and no preconceptions.
But a fearless limitless child is dangerous both to himself and to the surroundings, things or beings. So we start to add on rules. And then we surround him by more rules and limits, as he or she grows older.
As a protection mechanism they are generally effective. But at the same time, too many of them hinder potential.
As we grow older we'll find it increasingly more difficult to adapt to disruptive changes, because we have such a heavy baggage of limitations which are there to protect the status quo.
After over 10 years since bitcoin is around, crypto is still at around 1% adoption world wide. Many are obviously not comfortable taking the step yet. Their fears or limits kick in.
What about us, which are already in the crypto-verse? Do we have fewer limits because we embraced a revolutionary technology?
Maybe. But we are not the same, of course.
Image from Pixabay
Nowadays there are two hot topics: defi and NFTs.
Many are not using defi. I was neither for a long time. That's a limit.
If we think of APRs, to a normal person which lived through pre-defi times, coping with APRs into the thousands is mind-boggling, when banks offer real negative interests today.
We are used to those one-digit close to 0% interests, aren't we? That's NORMAL! Seeing two digits or even three digits APRs scares the hell out of us. How can it be sustainable, we ask?
Well, this is crypto. It redefines normal. A few years ago nobody earned something having monetary value on social media, right?
So, what's to say a three digit APR won't be the new normal going forward, as we enter the age of abundance? I'm not saying it will be, but why not? Yes, I know, in our current normal, that's unsustainable.
If we think at NFTs and the sheer display of opulence on some of the bids, with which eyes are we analyzing this?
With the eyes of the person who lived most of the life in the cefi world? Where $2 million for a tweet or even $69 million for a collection of photos is outrageous?
Somebody paid or is willing to pay those amounts. Practically somebody is willing to send those amounts down the drain without giving a damn. Which means there's a lot more money where these amounts come from, unless they are totally crazy. Sorry if this may look like I disconsider the collection of photos, I don't know anything about them or the photographer.
Crypto creates wealth at high speed and at high leverage compared to anything I know out there. Maybe that's why we see this kind of bids on NFTs.
Maybe except some domains with high death rate for the participants, but I wouldn't know.
Don't you see often people in crypto looking for the next x100 or the next x1000, as an alternative to the "slow-growing" x10 asset? This is the new normal, get used to it. Try to think like that outside crypto and see where it works.
