So Bitcoin?

Crypto currencies are tanking. Bitcoin has dropped to less than half what it was at its peak. Folks everywhere are chortling over others' financial destitution and ruin-- compared to the stock market and its gated space. Even when the average consumer can get access, when they try to influence en masses through numbers the same organizations that gave access cut it off when they felt threatened as we saw with GME and the Robinhood App.

 

Bitcoin-- There's a lot of folks taking the opportunity to beat it while it's down; while others are seeing it as a downturn that parallels other markets, some see its historic trends. 

At its heart Bitcoin still offers a democratized, transparent currency that's not dependent on nation states and their centralized banks often tied to financial and economic policy that favor the rich at the cost of the many when we look at nations’ wealth and income gaps.

 

It is not a Ponzi Scheme, 

posting that it is after crashing 

doesn’t show savvy.

 

The discussion I want is that all markets are suffering and that we need to analyze how their value gets projected with how it impacts our spending as consumers vs the “growing profit” rubric that always ends up costing us is going to be important as we head into another recession.

 

 

 

 Cryptocurrencies also are poised to analyze at the different ways to quantify value for what we need, that cuts out intermediaries, and allows company to consumer efficiency
 

 

 

One of the tricky things for folks to understand is that Bitcoin is not owned by any one person or company, that it is open sourced, or that it's not meant for investment (even though it can fit that role like FinEx markets) cryptocurrencies aren't like stocks that way. Bitcoin is at its heart a currency that folks can trade for goods and services. It not being a company means it doesn't have a PR firm, but its decentralized nature creates buy-in and proponents in all sectors from all corners of the world. These folks also have at least a passing interest in Information Technology and have their own social networks generating guerilla Earned Media from a pool of folks with skills that would be expensive to train.

Unfortunately, this means detractors aren't as easy to address since there's no centralized organization or place for them to place complaints at who have a vested interest in current models they benefit from which means they've got the clout of capital which wins in the US and is a tricky thing to address as it pops up, especially when there's no dedicated team to address it like other companies have if their value is being attacked or fluctuating because of an errant tweet.

I'm sure you've all heard stories about someone, just like you, having struck it rich; and also now the destitution some are feeling. This is how a lot of markets and investments go, as the housing market crashed just 14 years ago and those have a pretty tangible value. Just because you can't stuff Bitcoin under the mattress doesn't mean it's not "Real".

As the different wallets start to file for Chapter 11, I'd try to organize and compare notes for what's left, what worked, and what steps are next since I don't see Bitcoin going away and feel it can hold a lot of value for a more humane and equitable globalization than we are having now.