Let’s talk about Crypto, baby

Before you click out of this post, let me wine and dine you before just stickin’ it in.

I’ll take you to dinner, send you home with leftovers, and you’ll never have to talk to me again.

Cryptocurrency.

Nothing is enchanting or mysterious about that word. Let’s be real, the word sounds like someone I want to avoid running into in public. I have something to share with you about the world of cryptocurrency that might offer a different perspective than what we are used to.

When you really think about it, cryptocurrency is not just about currency. It’s about an idea much greater.

It’s about our natural human need to resist change. We are hardwired to reject change in order to keep ourselves safe, as survival is the number one thing we put above anything else. We are animals after all!

Just as it is unnatural to ignore hunger when we are hungry, it’s the same with survival. This is where the ego comes in. The ego is great because this is what keeps us out of harmful situations. It’s what keeps us alive! We understand that the ego is necessary for survival. This is hard for us who live in the woo-woo, ever-so-freeing spiritual world to grasp sometimes. While the ego is crucial, it is also what keeps us from experiencing the complete human experience. As the ego does not like change, it is oftentimes what hinders our personal growth, keeping us from welcoming new ideas. We need change to flourish! According to Harvard Business Review, “change interferes with autonomy and can make people feel they’ve lost control over their territory.”

Here is where we introduce the cringey, but really-only-cringey-because-other-people-decided-its-cringey world of Crypto.

Most of us hear Crypt- in a conversation and don’t even bother listening to the rest. Crypto is for finance bros, crypto is douchey. But do we even know what Crypto really is?

For starters, what is cryptocurrency? Cryptocurrency, as defined by the Oxford English Dictionary, can be a “form of digital currency that runs on a technology known as a blockchain.” In other words, it’s another form of currency than what we are used to using. What makes cryptocurrency different from the currency we are most familiar with, money?

Cryptocurrency offers a unique and secure opportunity to become your own bank without government control. This means freedom to do whatever you want with your coins, and without the sneaky fees.

The economy right now is outrageous. Most of us can’t even leave Wegmans without spending upwards of $100 on a few measly groceries. All that just to throw your innocent head of lettuce straight into the garbage can because let’s face it, that’s a better placement for it anyway. We’re not really going to eat it.

Does the average person really care about cryptocurrency?

No. But they should.

The money we use today as our main source of currency is heavily impacted by inflation. Inflation, basically means we pay more money for something that once cost less, therefore having to work even harder for our buck.

The thing is, cryptocurrency is superior. It just is. And let me explain why. Cryptocurrencies, such as Bitcoin and Ethereum, offer you complete access to your currency without fear of your bank rejecting access to your funds or worse, stealing from you. Bitcoin is not centralized, meaning the government has no control of your coin. Bitcoin also keeps a copy of the ledger, the record. Think of this as an itemized receipt wrapped in a warm security blanket.

At any point, the government can freeze your account and deny access to your funds. Even if you decide to use cash, the government can cancel legal access to your currency. With cryptocurrency, there is no way the government can do that.

Before learning about cryptocurrencies, you must know what blockchains are first. A “blockchain” is cryptocurrency immune to counterfeiting, to store transaction details. If you think about what a block looks like, it will be much easier to understand. Picture a cartoon block, and then connected to that block, there are more blocks containing records of specific transaction details based on the information you’re looking for. Some of the most popular blockchains are Ethereum, Solana, and Polygon.

Blockchains

let you see how much currency you own, how much you have left, and even how much your friends have. Each “block” holds transaction details, and how many they/you have in reserve. This is called a ledger. This is public and shared among all friends. Imagine it’s a Friday night, and you and three friends decide to go out. You agree to cover the cab fare, and your friends agree to pay you their share later. It comes time for them to pay up, and there is some miscommunication on the payment. We have all been here. We’re left wondering about whether or not their payment went through, how much they actually paid you, or if they even paid you. Blockchains keep track of what each friend has paid you, creating a link between your personal “wallet” and their “wallet” These “wallets” keep a permanent record of the transactions. You can also see how much they have, and they can see how much you have. If one of your friends doesn’t have enough, the transaction will show up as “invalid.” This avoids the whole, “but I thought I already paid you twenty bucks in cash last night!” Truth is, no one remembers. You both browned out and most likely did not receive the twenty bucks.

Blockchains also make it pretty much impossible for someone to steal your money. If someone tries to steal your identity, they will not be able to because each person has a copy of the ledger, and their own private key; think of it as double security.

Okay, so what is Bitcoin?

Bitcoin is the horse leading the race in the crypto world. It’s what most people think of when they hear cryptocurrency. Bitcoin is currently the largest and most widely used form of cryptocurrency. It is also the most powerful. Bitcoin is transparent, as it allows you to see every nook and cranny of your transactions. If a centralized bank decided to run off with all your money, they could most likely do so. For someone to take down Bitcoin, they would have to take down all of the computers that use it, making it nearly impossible to take down the entire system. All together now, all together now!

I like to think of Bitcoin as the “Google” of currency in the crypto world. It is a transparent flood of information. Before the internet, we relied on The Washington Post or The New York Times for our information. Google is the most widely used search engine currently in the United States. When we think of a search engine, we think of Google. Similar to Facebook. We don’t use Livejournal or Friendster; we use Facebook. This is similar to Bitcoin in the crypto world. Other cryptocurrencies like Ripple, Dash, and Litecoin are still used, just not as widely known.

The truth is, understanding cryptocurrency is understanding the true wealth of knowledge.

Just to be clear, this is not financial advice.

This is just a personal opinion from someone who is newly introduced to Bitcoin with a hunger to learn more. Is Bitcoin worth the investment? In my opinion, yes. The reward outweighs the risk for sure. Let me explain. The risk, is that people decide to sell Bitcoin and not use it anymore, your investment goes, and you lose everything. But only what you invest. This is why it’s important to only invest what you can afford to lose. Bitcoin is also cheaper and safer to use than a wire transfer. Bitcoin is used as a safety hedge from an economic crisis, much like gold. I suppose if we put crypto bros into a certain category, it would only be fair they should be the only ones who get to enjoy gold! Kidding. But seriously, people love gold. Who else loves gold? Women. Gold is a store of value, it can be mined like Bitcoin and also has a limited amount, like Bitcoin, making it all the more valuable. If Bitcoin were to grow to the same market cap as gold, we would see a return on our investments as significant as 30 times the amount we originally invested. Can we predict the future? No, but we could sure as fuck try.

Let’s use another example. Tesla. So many people associate Tesla with being a joke of a company, however, when you look at the technology, it is far superior to most of its competition. Just type Tesla into Google. You will see what I mean. It is one of the top car companies in the world due to its wicked technology. Bitcoin is a similar idea to this, except no one actually wants to learn about it. Perhaps it's less about wanting to learn about it, and more about the fear of new knowledge. We are uncomfortable with the unknown, and the stigma around it doesn’t help. We have all managed to put crypto into the same category as we put Nickelback, making them both the whipping boys of our generation.

Centralized, government-based currency is what we are used to. Because we are programmed to need and require safety, we are naturally going to feel safe with the currency we are used to. Money is also a very personal and touchy topic for a lot of us. It is natural for our brains to associate government-based currency with feelings of deep security.

Any time someone asks me what I do for a living, I tell them.

“Oh. So like, what do you do for work?”

“I’m a writer in the mental health space, with a specific mission to de-stigmatize uncomfortable topics surrounding human behavior.”

This makes many people feel uncomfortable. It shouldn’t, but it does.

Why do you think this is?

I can count on both hands how many people I know who have been brave enough to branch out into the self-fulfilling world of entrepreneurism, and thankfully so! It’s a beautiful thing! Now more than ever, people are breaking free from the corporate grind and exploring the magical abundance that comes with being their own boss. Talk about the ultimate self-fulfilling prophecy. However, you tell someone you quit your 9 to 5 to start your own business, and they look at you with a blank stare, followed by a sarcastic remark. This topic makes people feel uncomfortable for several reasons. For starters, they’re jealous. They’re jealous because they want it for themselves. They’re not trying to be rude, I mean, who wouldn’t want this for themselves?

They’re also scared. They’re scared because it forces them to confront their own insecurities and lack of courage.

You have ultimately proven that it is, in fact possible, to make your own revenue doing something you love, on your own hours, on your own terms. People would rather go back to thinking that the idea is just a fantasy, rather than actually accepting it's real. Highlighting your bravery, and in turn, making their complacency all the more obvious.

I would say the majority of people who give me that reaction really aren't trying to be mean or malicious. But of course, there will always be the miserable, self-loathing, naysayers of the world. Ever seen the movie Antz?

Money is no different from this.

Our comfort bubble is centralized currency. Our comfort bubble is money. And the first ones to say, “crypto-bros are like, soooo douchey…” Those, are the bitter worker ants. Green with envy, and it shows.

This fear is the very thing that keeps us from achieving what is truly meant for us. Most of us could agree, that acquiring success doing something we love, especially when it comes to fruition, is far more satisfying than being stuck at a dead-end job. Yet, so many people reject this idea and completely shut down. They just don’t know how to handle it.

Money, at the end of the day, is just an exchange of energy. You make it, and you use it. Money is only valuable because we have agreed to use it as our main form of currency. It is the most accepted form of payment. Money is associated not only with safety and security, but it’s also; trust. Bitcoin offers something unique that money, falls short on. Each user in the Bitcoin network has two keys: a public key, and a private key. The public key is an address everyone in the network knows of. A private key is a unique address only the user possesses access to. This makes it nearly impossible for hackers to steal your identity. Trust is cool!

This brings us to NFTs.

An NFT is a ‘non-fungible token.’ To understand this, you first must understand the difference between fungible and non-fungible. It’s really not as complex as you think. Fungible tokens are transferable and can be divided into smaller units to form the same value. Money and Bitcoin would be examples of fungible currencies. You could break down a twenty-dollar bill into one ten-dollar bill, one five, and five ones. NFTs are non-fungible, meaning they are a unique token. They are immutable (unchangeable). Each token is unique to a specific person, making it ideal to own, buy, and sell original assets, such as art, games, music, and more without the risk of counterfeiting.

Say you’re a graphic designer, and your job is to make personal commissions and logos for people. It would be in your best interest to purchase an NFT, to preserve the originality of your work, without fear of someone stealing it or altering it and then calling it their own. Think of it as a patent or “fingerprint” for your artwork. Each NFT is unique and cannot be replicated. Because it cannot be replicated, the preservation of its originality causes the value to go way up. People could buy your work without fear, because of its inability to be altered. Great for entrepreneurs!

How does this work? NFTs create a blockchain-based digital certificate for your goods. A record of ownership. Not only does it make your assets one of a kind, but they could also be bought and sold for real money managed strictly by the owner. Music, collectibles, and other art forms are forms of creative expression, and essentially what makes us, us. Self-expression is cool!

The most popular types of NFTs are collectibles, artwork, music, gaming, and personal domains. You could actually create your own personalized game, build your own land, and have ownership of it. Why live in a world of dystopia, when you can escape to your own private island filled with garden gnomes and frolicking faeries?

For you extra-sensitive sensory folks such as myself, who thrive on processing information visually, I will give you an example of this. Meet Cryptopunks. Cryptopunks are a type of NFT in the form of a personalized avatar, made up of a 24x24- pixel. These are considered pieces of art in token form. These images are considered “punky-looking” and are pixelated to mimic male and female characters, zombies, aliens, and more. Some of these NFT’s are worth millions. So if you immediately start yawning at the topic of finance, look up some pictures of Cryptopunks. You may resonate with one.

If you’re someone who enjoys making Instagram memes and wants to preserve their originality, NFTs are worth looking into. If you scroll through Instagram, you are sure to scroll past at least a dozen memes, some looking identical to the last one. You know that anyone with half a brain and a Canva membership could alter it into whatever they want, or even just copy it and claim ownership. NFTs make it so they can’t!

Any time I catch myself automatically feeling bored with the talk of finance, I think of Jordan Belfort from The Wolf of Wall Street. He says “See, money doesn’t just buy you a better life, better food, better cars, better pussy. It also makes you a better person.” While many could argue it doesn’t necessarily make you a better person, most of us would shamefully agree that yes, money could buy you the freedom to have the life you desire. Including all the pussy you want.

If you are like me, and the topic of finance talk bores you to tears, there is no denying the societal need and desire for acquiring wealth. I know I’m not the only one who finished the movie, knowing full well of all the debauchery he’s committed, thinking, “If I were in his shoes, would it be worth it?” The answer is fuck yeah. That shit looked fun as hell and also, money.

So even if the vast majority of us are stuck hopelessly pining at the idea of wealth and how to acquire it.

So, why is cryptocurrency not a cultural fit?

Fear.

And you guessed it, the need for safety. Our need for safety is not only necessary for us to live a fulfilling life, but it also drives the choices we make. What does Maslow’s hierarchy of needs have to do with currency? Everything. Food, water, and shelter are the first and most important needs for us to survive, safety is second. This hierarchy is the foundation of how we are programmed to live. We are born with the desire to need control, and safety plays a big part in that. Specifically, financial security. Our ego will always be the first and loudest voice we listen to.

This brings us to laziness. Ah, a word that brings me into a warm, cozy abyss. I wish it were as simple as “We’re all fucking lazy and don’t want to do the work it takes to learn something new.”

But the thing is, it isn’t that simple.

Laziness is a physical manifestation of fear. It’s not as much laziness, as it is our bodies' natural response to something that is potentially threatening.

Why do you think people make fun of therapy?

People make fun of therapy because they are afraid of the work it requires. Because it’s hard and requires introspection. Because actually facing our demons head-on is fucking scary. Those of us who project our insecurities by bullying, or making crude remarks at those who take risks, stink the worst. They are the same people who claim therapy is for “pussies.” They are afraid of facing themselves, and all that comes with it.

So, if you find yourself feeling like a “crypto bro,” don’t. Flaunt it. Keep drinking the kool-aid. Think of yourself as someone who challenges natural human response. I bet a lot of us could learn from you! You’re a fountain of knowledge and the rest of us are just tryna’ cop a sip.

And for those who just want to be a hater, well, sounds like you have a bigger problem on your hands, bro.

Sophia is a writer from Rochester, NY. Sophia specializes in blogging, specifically topics surrounding human behavior and mental health. Sophia uses her writing to empower and de-stigmatize the most uncomfortable of topics, in hopes to encourage vulnerability and a sense of community.

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