Crypto in ’22 = Woodstock ’99
You missed the boat, stop trying to make it something it isn’t. For all you gen z-ers – or later (who are most definitely not reading this) Woodstock ’99 marked the end of the 90’s not just because 2000 came after 1999. But because of what it signified. I realize I might be getting ahead of myself. Woodstock was a music festival in the late 60’s… yada. yada. yada. Go look it up if you don’t know (also look up Woodstock 94 – Greenday’s set there and solid-). So anyways, Woodstock 99 tried to recreate that feeling of music and love and youth only with Nu-metal… And failed. I think people actually died and a whole bunch of other shitty stuff happened. Woodstock ’99 was a cash grab by people wanted to make money and capitalized on a generation that felt like they missed out on something special.
So why am I talking about Woodstock 99? Because the assholes ruined it. Not only the people who made the fest, but also the attendees. I am talking to you- DUDE BROS that felt like you deserved something you missed. NEWS FLASH; you don’t deserve something just because someone else got it a long time ago. Times are different. Yes in the 90’s that “long-ago” time was 30 years earlier, and now with the crypto culture it is 9 months ago. But my sentiment is the same. The new “investors” were not there for the first crypto rise and boom and missed out. This new money is not owed anything because someone else profit. These new crypto kids did not “discover” crypto because they decided to buy in 4 months ago when it was at is ATH (all-time-high) and are now down a bunch. These people are only interested in the price and do not understand (or even care to understand) the ideas, tech, or greater ethos of crypto in general. They are only here for the party, and do not want to put in the research and work.
The age demographics on the crypto probably mimic that of ’99. Mostly males 18-29. I will say I am surprised by the racial diversity and will cover that in a later post. (Woodstock ’99 I am sure was predominantly white, what with headliners like Korn, Red Hot Chili Peppers, and Limp Bizkit.
Now crypto is falling and the fall is rough. Right now Eth is teetering at $1500 and BTC is below $29K. It seems that people in market looking to make a quick buck are now upset that the price is down. I understand the frustration, but at the same time c’mon dudes. Stop only thinking of crypto as its value compared to FIAT and trying to make that $$$. See the issue with Do Kwon and Terra. He was trying to make his money and was alright with burning the stage to do it…
That is what is taking crypto away from the ideal of decentralized system. If you are only looking to make a quick dollar that is fine, but don’t be upset when it takes time and work for that to happen. The first party was missed, and you can work to make something new and add to the network and communities to create something new instead of trying to hold on to hopes of past successes.
Now crypto is getting regulated, banks are heavily invested, and the crypto market follows trends of wall street – So the space is so different than it was even a couple of years ago. The 60s-esque era- summer of peace and free love of the crypto world is over, we are now in the cold, Nu-Metal winter of the 90’s and must work to better the space instead of trying to hold on the ideas quick gains and moon shots.