Crypto is here to stay, but let’s leave the moon for another day
If you can cast your mind back to the distant past of last December you may recall crypto was rather popular at the time. Bitcoin had reached about $20k , Ethereum $1.2k and somehow Ripple managing to reach almost $4 by January. Every newspaper and media outlet up and down the land seemed desperate to report on the latest price gains, and sure enough in came more investors to further increase the price, and so on in a rapid spiral.
“To the moon” came the cry, as every enuthiast saw their investment in the coin constantly incease with each passing day.
It went up and up like better than any scammers pyramid scheme, it seemed it would rise for ever – until it didn’t.
How times change.
Whenever I find myself browsing forums now I inevitably stumble across posts fixated on the prices…
“When will it rise again”
“What happened to the market”
“I was lied to”
etc. etc. etc.
And just like with every other time there has been a big drop in crypto evaluation, soon came the familiar calls attempting to predict that THIS time (and not any of the other times we said it was this time) crypto was actually finally dead.
Of course, crypto isn’t dead – yet, and now the prices have somewhat levelled out at their respective lower rates this may be a great time to re-evaluate the state of crypto alltogether.
More importantly, I hope we can finally focus on what’s supposed to matter – the crypto itself. While I’m sure there’ll be many of you out there who are heavily invested will be disapointed at the current state of things, we need to look beyond the market cap valuation of a coin as a means of measuring success.
Now is the time to focus on what the technology actually does!
Looking to the Future
The bockchain has the capability to truly transform our society, and we, as its followers owe it to the community to make it happen. It’s fantastic how far this has grown but if we want it to continue we need to look at the projects happening within and what’s actually being built with the tech rather than purely on how it may impact the price.
For example, just check out State of the DApps for ethereum to get an idea of all the amazing (and admittedly some less amazing) things being made, with more being created right now. At the time of writing there are over 1,700 decentralised apps for the ethereum project, that’s huge for the platform and we need more people to get involved with these things.
Whether that be educating others about the technology and why they will actually benefit from it! (Explaining protocols is fun and all, but ultimately people like the web because they can access information, not because they like HTTP).
We should also make sure to actually use some of the things being created, for example Siacoin, the decentralised storage blockchain has had a fully working system for years now, but they still have limited adoption despite everybody trading the coins. Does this say a lot about the wider crypto economy, probably.
Part of the excitement of the creation over the creation of the world wide web was being able to create your own piece of it, maybe that’s what we now need for Crypto.