Millennial Discontent made the Crypto Revolution Inevitable

Chris Herd
Aug 19 · 5 min read

Bitcoin, Blockchain, Cryptocurrency, Ethereum all emerged to allow us to alleviate societal issues we are just now beginning to understand. That is something which too few column inches have been dedicated to but what I will explore and argue for in this piece. Maybe you believe me or maybe you won’t but I promise you that it will make you think and consider the broad economic consequences of what we are likely to face in our lifetimes.

There’s a reason this generation wants to reinvent money. Our own is being used as a weapon against us to strip us of our future prosperity to pay the bill for a party we never attended. That is the same economic prosperity every generation before us has been afforded by exponential population growth.

Can you afford to buy a home? Even if you can, what % of your salary does paying for it consume?

Is your salary enough to enable the economic wheel of progress to continue spinning?

The media has a simple explanation for our increasing propensity to voice our displeasure at participating in this society: greed and selfishness.

The reality is that we are disenfranchised. We are exploited with no real reward or light at the end of the tunnel to inspire our focus.

Previous generations were pulled into the middle class by mass-market revolution. Depending on how far you wish to go back, there are innumerable examples. 10,000 years ago the emergence of farming took away our concerns about food. 200 years ago seen the emergence of mass production enabling us to acquire consumer good far more cheaply. Electricity emerged, the internet grew.

There are no major innovations likely to emerge that we will be able to leverage into our own revolution.

Only crypto and blockchain

All of these have been funded by one thing — Debt

Mortgages, borrowing, lending have enabled humanity to collectively spend far more money than they had available. This leverage enabled by the fractional reserve system under with we operate, and the devaluation of currency due to inflation, is what has enabled the emergence of all progress.

What does this mean for us?

That’s what I mean when I say we arrived at a party which was finished and are expected to pay for the free booze and food everyone else consumed. That is the most intellectually interesting conversation for why Crypto has emerged. It is also the most honest. Money is broken, crypto is an attempt to fix it for the most diverse, distributed societal benefit.

The world has increasingly kicked the can down the road with respect to debt. The fact that inflation means that those debts are decreased as the years go by offset any concern that this couldn’t go on forever. Interest on our money saved was higher than inflation, meaning that £1 in our banks today was worth more than the £1 we saved tomorrow. That has been reversed for nearly a decade now. £1 saved today is worth less than £1 that will be paid back tomorrow. Inflation is above interest and this installs new economic conditions which we must compete with, the implications of which we are only beginning to discover.

Marry that to a swelling elderly population who we must subsidize in retirement and you can see the bleak future that is staring us in the face.

The 2008 financial crash were the first symptoms

When we saw those taking risks with our money almost destroy the world economy. Who was left to pay the bill, the people who took the risk or us?

By now we all know the story. Governments worldwide implemented bailouts created quantitative easing which devalued our money substantially overnight. That is the problem we face. When a government controls our money, they can arbitrarily impose devaluation on our currency. £100 today might only be worth £80 tomorrow and there is nothing you can do about it.

Now that is an overly simplistic overview of the complex economic realities that we have lived through, but I tell the story in a way that is easily relatable and understandable. What everyone can understand is that house prices have risen exponentially in our grandparents lifetimes. Homes they purchased for £15,000 are now worth £1million or even more.

That means we are hit on multiple fronts at the same time.

In reality, actual earning are falling. Our salaries, when factoring in inflation, are for the first time lower than the previous generations. Our ability to pull ourselves up by the bootstraps isn’t guaranteed it is unlikely or impossible.

The swelling elderly population benefit on dual fronts. If they sell their homes to us they benefit from us inheriting debts we can never afford, while the tax that is charged on our earning subsidizes there living as they sail off into the sunset via retirements.

Cryptocurrency is our only opportunity at a new paradigm

We can reject participation in the existing world by rejecting the rules that dictate our engagement. The existing world works when the population is growing exponentially, that is no longer the case.

Cancel the debt and take back the land is the wisdom for any revolution, cryptocurrency lets us do this in a way that can be our industrial revolution.

That is why cryptocurrency is a revolution

That is why existing institutions, banks, and governments are so scared. People have realized that money is nothing but a collective belief in its myth of value. We have realised that we don’t have to participate in a society which handcuffs us to the debt of our ancestors. We can cast off those shackles and participate in the future we want to create. We are the ones who create it.

Money is a technology which has been used to control populations throughout history. Governments, central banks, and institutions have dictated to us monetary policy which constrains our opportunity to control our fate. Technology has never existed where we had an alternative.

We do — Cryptocurrency

We can — smartphones

Cryptocurrency enables us to take back control. Each individual can become responsible for their sovereign fate and economic prosperity. That is the only we can have control of our economic certainty.

Cryptocurrency isn’t the future because a small band of anarchists are trying to change the world. It is the future because it allows us to avoid the crippling debt imposed on us by the past.

We should be grateful for the collective knowledge we have inherited from humanity.

We shouldn’t be forced to inherit the economic debt to pay for it, which cripples our ability to lead fulfilling lives.

Our future should be as prosperous as our forebearers.

Cryptocurrency guarantees that

Hopeful for this Future? Please applaud it to help other people find this story

Chris Herd

Written by

CEO / Founder / Coach @FirstbaseHQ Empowering people to work in their lives not live at work ✌️✌

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