The ancient Egyptions were relatively peaceful. Protected by surrounding desert and the Mediterranean Sea to the north. Without perpetual war, the Egyptians did not invest in outfitting armies with armaments. They were a peaceful and stable people.
Around 1800 B.C.E. they were invaded by a Semitic tribe called the Hyksos. These warriors brought horses and chariots. The Egyptians were unprepared to do battle against such enemies. The Hyksos eventually took over most of Egypt and ruled for almost 300 years.
Then something happened. In the sixteenth century B.C.E. the Egyptians began to fight back. New pharaohs rose to face the unwelcome occupiers of the Nile. Years of disgrace and a desire to reclaim their kingdom drove the pharaohs to invest in weaponry and discipline their ranks. They drove northward with tremendous ferocity. The Egyptians under the new pharaohs defeated the Hyksos and reclaimed Egypt. And they continued northward into Palestine and Asia and built a vast empire. As they went, the Egyptians spread the best of Egyptian culture to a larger world.
Why did I share this story with you? The crypto community has been like Egypt in the 1800s BCE. Peacefully doing its own thing. Growing steadily, but peacefully. Then in 2017/18 A.D. things became increasingly nasty for crypto. Cash settled futures (essentially gambling for anyone other than a bitcoin miner) aided a massive speculative frenzy. This was followed by financial press calling crypto a bubble/scam/FUD. This was not an accident. Many institutions have much to lose from the growth of crypto. They have attacked and given no quarter. Sentiment and morale in the market is low. We have been living in the aftermath of the Hyksos invasion.
Fortunately our story will have a positive outcome. New pharaohs have been sharpening their swords and building solidarity among their troops. The crypto industry will soon be entering the utility phase. This is when real value will be delivered to the marketplace. This will be the Egyptian campaign to reclaim Egypt, build empire, and spread culture. Bitcoin has its own culture. One of its values includes absolute individual sovereignty. This will be the crown jewel that crypto culture can bring to the world.
