Michael Casey Calls for Change in Crypto Culture
December 03 2018 - 12:43PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
December 03, 2018 -- ADVFN Crypto NewsWire -- Are we as crypto
insiders, to blame for the current bear market? According to an
article today by Michael Casey, the culture we have created around
cryptocurrencies is the true cause of the market’s rapid rise and
continuing fall. If you became a crypto investor in the last year,
then you already know what I mean.
Our culture is mostly focused on
price speculation.
The social media personalities that
have the most followers are those who consistently chart
predictions on where the prices of various crypto coins will go.
The biggest draw for newcomers seems to be the promise that these
people will guide them towards fame and fortune.
On top of this, we then have the
same chartists who promise crypto giveaways to grow their
followings, while using these giveaways to gloat about their
holdings at the same time. In short, if all of this is to be
believed, then it is easy to see how Satoshi’s original vision has
warped into one akin to "greed is good. "
If this is true, then Casey is
correct. We have no one to blame but ourselves for the rampant
volatility of the crypto market, so the key question then becomes:
how can we change that?
In Casey’s previously mentioned
piece, he proposes a clear solution. We need to focus on education
over the promise of riches. Related to this, we need to stop
organizing into competing factions and come together into one
community to address the advantages and disadvantages of all
Blockchain projects.
In short, the message from
community leaders to their followers should be that the road to
widespread adoption starts with honest conversation. Taking to the
streets and preaching the virtues of Bitcoin or Litecoin to
businesses and individuals alike is only half of the
battle.
To truly draw in the masses, we
need to show that we are ready to accept crypto’s flaws. In the
words of Consensys and other industry giants, our mantra should be
"don’t hodl, buidl. "
By: BGN Editorial Staff
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