This is a great article!
But, I feel that with these various streams, there is a unifying trend that binds them together to create some kind of perfect storm scenario that could very well be the biggest opportunity for crypto adoption ever.
People are looking for "safe" places to put their money because of the fear of inflation. With rising prices in every one of the asset classes including bonds, real estate, stocks, gold, commodities, and even oil--people are finally starting to wonder out loud if every asset is in a bubble?
Given that this rally was driven by increases liquidity through the central bank and some of it through stimulus packages via congress people are also fearing inflation, so cash is not safe either. "Cash is Trash"
The problem is that people came to Bitcoin later than all of these other assets classes which makes me question if its because they trust Bitcoin the least? Are they coming to Bitcoin because its the only thing left to grab onto or is it that people are trusting Bitcoin because Bitcoin is "trustless".
In the dollar it says "In God we Trust". There is a picture of an eagle holding onto to arrows in one talon and and olive branches in the other. It implies that the backing of the military and diplomacy of the United States is all in service of the dollar. The counterfeiting of money is actually investigated by the Secret Service. Not the treasury, the IRS, the FBI, or the Federal Reserve Bank. The same people that protect the President of the United States with their lives also serve to protect the "trust" of the money supply.
All of this points to me how fragile the dollar is and how fragile trust is. Maybe we do need a "trustless" currency. Something that is transparent, unhackable, distributed, and decentralized. Something that is not back by "God", military might, diplomacy, or the President's bodyguards.
"In the Algorithm we Trust"
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I think that they don't trust Bitcoin, but they are starting to as they recognize that there is power in the ownership of the wallet address. A lot of people think that owning crypto is owning nothing - without realizing that owning shares is owning nothing as there is no personal or direct control, it is all trust in people who shouldn't be trusted. It is hard for the average person to get their head around, even if they are above average.
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