FUD. FUD. FUD.
Everywhere we look these days with cryptocurrency, we see it. Nothing but bad news. Terra Luna. Regulation. Warnings from fill in the blank politician or banker.
No matter where we turn, things are looking awful. If we believed what we came across, we might actually think cryptocurrency is dying. In fact, a case could be made that is what "they" want everyone to think.
What are the facts?
Is what is being promoted accurate? Certainly, there are areas for concern. This much we know to be true. The threat of regulation is starting to become a reality. We can clearly see there are many who seek to keep the system as is. Those who are profiting are ensuring their money train stays in place.
At least that is their goal. Whether they accomplish it or not is up to us.
There are many layers to cryptocurrency. Market sentiment has nothing to do with what ends up being accomplished. However, the simple reality is people buy into it and take what is said as gospel.
We are remaking, among other things, the entire financial system. This is a big deal and many are flocking to what is being created here. Of course, that is not evident if we focus upon what the FUDsters are selling.
The choice is always where do we concentrate our attention? For many, price is all that matters. Hence, when things turn south, there goes their entire emotional state. Of course, this is not where success is found.
For those old enough to remember the DotCom bubble, we had a similar situation to today. There was a revolutionary move underfoot. The Internet was being designed before our eyes, something most of us missed. People had an inkling there were big things ahead. The market bought into this, until it didn't.
The bursting of the bubble took the economy out with it. We also saw people turned off by it. However, did the advancement of the Internet stop? Weren't there companies like Google, Priceline, and Amazon that kept charging forward. Yes, it is true that WebVan ended upon failing to fulfill its promises. Nevertheless, the technology along with number of users advanced.
This is exactly what we are seeing with what is taking place now.
In spite of the market, development is still occurring. Projects keep popping up with great promise. Will all of them succeed? Of course not. However, there are going to be some applications that become very popular in a few years.
Each month we see the number of users growing. While it is impossible to get accurate stats, we know the traffic is expanding. In spite of the FUD, more people are being exposed to cryptocurrency. This comes from the fact that it is getting harder to avoid.
The true operators are not doing so in front of the world. Instead, they carry forward, implementing their plans.
For example, we learned that Andreeson-Horowitz are in the process of raising $4.5 billion for a crypto fund. Why are they doing this while things are going so poorly in the markets? They understand the best time to build is during the bear.
Then we have the news that more than 85% of merchants surveyed expect to implement cryptocurrency within 24 months.
Here are a few other:
Mastercard to Allow NFT Purchases With Its Cards in Several Marketplaces
MoneyGram Launches Pioneering Global Crypto-to-Cash Service on the Stellar Network
Imagine if just one of these stories hit 5 years ago. The crypto world would have been afire. Names like MoneyGram and MasterCard entering the cryptocurrency sector. That would have been plastered all over the cryptocurrency media sites.
Now it is worthy of a single article or two.
The point being is that we are seeing moves that can have an enormous impact down the road. These are all going to end up leveraging against each other, resulting in exponential growth.
Alas, many simply are going to look at the markets for validation.
We should not enter everything with a blind eye. There certainly are pitfalls regarding what is taking place within this industry.
However, not all is bad. In fact, we are seeing an explosive situation being developed that is going to benefit all of humanity. Unfortunately, it is not an overnight process.
If we focus upon what the FUDsters say, the motivation to drive forward is not going to be there. Bear markets are tough. However, they can also result in the greatest successes.
Over time, growth occurs in spite of the short-term swings. This is something we can clearly see when we step back.
For now, a narrow focus can be fatal. It will lead someone to conclude that this is a sinking ship. The reality is that, each week, the industry gets stronger and larger. Naturally, the FUD does not lead to this conclusion.
Bear markets and business cycles are different things. They will often coincide but not always. Once we separate the two, we can see how much things are changing. There are developers, entrepreneurs, and business teams that are regularly focusing upon building.
In the end, this is all that matters. Markets will do what they do. This is a fact that is repeated throughout history. That said, it is also evident that, in spite of that, builders keep forging ahead.
The result is that, on the other side, advancement occurred.
This is the mindset to hold during the bear. In a year or two, the industry will be even larger (and stronger) than today regardless of what the market does.
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