“History doesn’t repeat. It rhymes.”
*cringe at cliche quote*
It’s true though.
Now the hard part.
Which stories in history were the truth? How will it rhyme?
When I went through the 2008 housing market crisis and recession I was roughly 14 and completely clueless to anything going on in the world. What I was told by media, friends, adult business figures and nearly everyone was the crash came from the banks. Banks = Evil.
No one mentioned the Federal Reserve’s actions in the situation. No one mentioned AIG or other companies in participation. No one mentioned the actions of the actual common person in America where a degrade of morals and lack of responsibility gave us a taste of what can happen when we take the easy route, or when a person mismanages their money, or when someone simply doesn’t care about macroeconomic influences, cycles, events.
Truth to me then: America is victim to banks.
Truth to me now: America is victim to America and individuals are victim to themselves. Did banks help cause issues? Yes, but people on the profitable side in history played their hand in the system as they saw fit. Greed, or no greed. Humans act as humans. Not talking right or wrong. We are talking logic. People who cared about what was about to happen in the world were paying attention, or publicly turning a blind eye to it.
Enter the current cryptocurrency and blockchain landscape.
People do not change. People will always struggle against their never-ending enemy: Themselves.
“Every 20 years, Wall Street finds new suckers.”
Most people will never learn how to be aware of these things going on in the world. This is not trying to draw negative attention or blame to anyone, but the fact that humans are affected by 3 things - neurological structure, environmental experiences, and personal experiences - only fulfills human nature and natural animal kingdom hierarchies.
Pessimistic? Far from it.
The one thing people can change is their own habits. Habits lead to a sharpening of actions which increase the probability of success in any area worked in.
- Stop reading headlines and making decisions on whether the market is going up or down.
- If you know what’s at the top of mind of industry leaders, both good things to come and issues, you will have no problem finding out for yourself “the state of crypto” or “which cryptocurrency to invest in.”
- Suckers ask about the current state of the industry. Winners focus on tangible ways to add value to it and most importantly, to each other in humanity.
Hint: Listening to an industry leader speak on a podcast, at an event that gets 500,000 views, or in an interview on TV, will not be sufficient.