3 Ways You Can Help Make Cryptocurrency Mainstream
If cryptocurrency is the currency of the people, then it’s the people who should ensure its survival
I’ve always had terrible balance.
I remember the balance beam on the playground from elementary school. It was my nemesis. No matter how hard I tried, I could not stay balanced and walk along that narrow beam. Of course, I thought I could balance myself right off the jump. It never occurred to me to practice standing still at the beginning of the beam. I thought if I couldn’t do it right away, I must not be good at it. Today, I still have terrible balance, but I know how to fix it. With practice and patience, I can develop my muscles and sense of balance, overcoming my deficiency.
Even though the balance beam was half a foot off the ground, I still didn’t want to fall. I was afraid of falling because it meant failure. And no one wants to experience that. At least, when you’re ignorant of the benefits of failure. It’s an emotional reaction from your ego. For the ego, failure means death. And the ego desperately doesn’t want to die. So, in a state of complete reaction, you make thoughtless decisions that have a random chance of success. But more often than not, your hurried decisions lead to not only failure but further destitution. It’s a short-term mindset.
When making financial decisions regarding your cryptocurrency investments, it’s critical you execute decisions based on a long-term outlook for success. In other words, you must remain calm during events that stir your emotions. Ask yourself this question: When the U.S. experiences its next financial crisis, what moves will you make with your portfolio? For that matter, what do you believe most people will do with their portfolios? You will probably live to see the fundamental change of money globally as the world moves from fiat to crypto. Many people will panic. So, even if you remain calm, what about everyone else? Indeed, it would benefit you if more people had an idea of what to do during a financial crisis. And no, no one is powerless against a crisis. I know that’s a contentious point, but it’s not the truth. Only those who’ve been brow-beaten by life’s harshness believe they have no power. Therefore, not only must you be a good custodian of your future, but be a teacher to those you influence. Sure, not everyone will listen. But does it not benefit you when others succeed? The answer is always yes.
Cryptocurrency has no safety nets to moderate activity. When you see the market’s volatility, you see the raw mindset of the investors. And while it’s a difficult result to deal with, it exists because you have more control over your wealth than ever before. Yet, humans still need measured amounts of certainty and uncertainty to live a rich and healthy life.
So, let’s talk more in-depth about the five ways you can stabilize the volatility of cryptocurrency to bring that balance more in line.
Let’s get it.
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Teach yourself and others to invest long-term
Dopamine is a hell of a drug.
I used to play video games a lot, specifically MMORPGs (Massively Multiplayer Online Role-playing Games). These types of games put you in a fantasy world where your character is leading their own life. I spent inordinate amounts of time playing these games. If you know, you know. But if not, it’s like a side hustle. There’s your primary job (your life), then there’s your side hustle (your MMORPG life). You make plans and set goals for your character. Some of the goals you set could take months or even years. There’s always a prize you want for your character. It might be the best equipment (gear). Or, you might want status amongst other players in the game (titles, achievements). So, you perform repetitive tasks to try and achieve a rare accomplishment or retrieve a rare item to show off. It takes time. And not everyone enjoys the grind. Then some gamers enjoy FPSs (First-Person Shooters), where gratification can be more immediate. Fast-paced quick-reward mechanics drive the production of dopamine. Therefore, when you play an FPS, and you’re good at it, you get a lot of dopamine hits in a short time. As opposed to MMORPGs where, while you can experience dopamine hits, you mostly gain gratification from long-term goals, which releases oxytocin, the long-term feel-good chemical.
Today, your real-world consists of almost nothing but dopamine hits. Everyone wants everything right now. And worse, they can have a lot of it. For example, social media give instant validation, online retailers provide almost instant delivery, and some “dating” apps can provide nearly instant, er, satisfaction. And it’s hard to resist. Who doesn’t want to get what they want sooner rather than later?
You are bestowed upon you an unknown finite amount of time in which to accomplish your discovered purpose. So, you want to do as much as possible in the shortest time possible. That way, you can achieve more. You can do more good in the world. Also, there’s solid evidence of overnight millionaires who bet on the right crypto. The imagery is difficult to dismiss.
However, history has shown time, and again more often than not, good things take time. And the crypto markets have great options where long-term investors can make a good life for themselves. But it would be best if you were prepared to hold your ground when the markets get rough. And more so when they’re on the rise. It’s easy to get scared and sell on a downturn. And just as easy to buy or sell on and upturn. Sure there are times to buy and sell but only in certain circumstances. And those situations must be considered only after you have disciplined yourself not to take action based on emotion. It’s essential to understand your emotional decision-making regarding finance because you’re not immature or have some mental ailment. Your brain directly correlates your finances to your survival. If you don’t have resources, you die. That’s your brain’s interpretation. So, you have to combat those impulses of your ego to stay alive in the short term by using logic and reasoning to stay alive in the long term.
And all I’ve said here is the exact message you must convey to anyone investing in crypto.
Self-educate on the subject of finance
I no longer have faith in my country’s political, informational, or educational institutions.
It’s interesting. When I read fiction, and the protagonist faces deception by a shadowy political group, for example, I’m not surprised. It’s a common trope, and it can be a good one adequately executed. I’m easily convinced the mysterious men in suits with earpieces aren’t trusted and somehow have no soul. Yet, I’ve allowed my government, media outlets, and education system to fool me when it comes to the real world. When I began to write this section, I started with advocating for you to demand institutional reforms in education. However, I sat for a moment and asked myself if I believed what I was writing. I didn’t. I realized it’s up to me to teach you what I know about financial education because the systems in America have become so corrupt, it would be like sending a friend into a room full of liars to find the truth. And I won’t do it.
You’re not going to learn how to build wealth or become wealthy from any government entity, news agency, or school — not in America. And it’s even hard to say you could pay someone to teach you. Often, people find they are good salespeople. And if they can convince someone to buy a product, then they are successful. But are they really there to help you? Some are, and some aren’t. So, what I’m saying is you must learn about finance from many sources and assemble a body of knowledge for yourself. Just because you see a problem differently doesn’t mean you’re approaching it wrong. In fact, it could be a good sign you have obtained a different perspective.
The last haven for your education is you. The government wants you to rely on them to solve your problems. At the same time, the media reports information that turns the best profit. And the education system is woefully inadequate to the needs of its attendees to prepare real-life, learning, and problem-solving. So, that means it’s time to learn whatever it is rich people learned. Some of them made their money through opportunity. Those are the ones you want to read about. Still, beware of fluff they might put out for a dollar. But listen to them. They often do interviews, and that’s where you can get the best information. Sometimes a nugget of truth slips through the cracks, and you want to be there when they do. Read their books. There are plenty of books out there, and just like people, you’ll have to sift through the bad ones to find the good ones. You’ll mold the amalgamation of knowledge you’ll build and make it your own — just like those wealthy people you’ve read about. And through the process of self-teaching and experience, you’ll find real financial freedom and success.
However, you can’t be an island educating yourself about finances.
Help people understand crypto is the future of money
One of the best ways to learn is to teach.
There was a time when the people of America were forced to come to terms they couldn’t use gold and silver for currency anymore. The country began to issue notes for precious metals. Soon no businesses would accept metals, only paper. It was a shock for miners and even farmers. The difference between the switch to paper from metal and the switch from paper to digital is the government was in control of the previous transition. They are not in control of this one. However, they are trying.
History can help you help others understand a currency switch isn’t a disaster. In fact, it’s a blessing. For the first time in recent history, you and they will be in control of the means of trade. No longer must you exist under a currency containing value under threat of violence. And please understand, fiat currency is what it is because of the threat of punishment. Think about it. The United States government requires you to pay your taxes in USD only. If you do not pay your taxes, the government will levy fines or imprison you for not complying. That is both the threat of damaging your means of survival and restricting your freedom. The switch from fiat to crypto is so much more than a mere asset class addition with money-making opportunities. It means something more profound. It’s a statement. And suppose you convey the sentiment of cryptocurrency. In that case, you might be able to strike a deep visceral chord within a person and have them deeply consider their world is about to change fundamentally.
Conclusion
Making cryptocurrency mainstream sooner rather than later will benefit all people in achieving financial freedom.
Investors need a long-term vision. And that requires emotional control and patience. It’s not easy to bring in the reins on baser instincts when markets go up or down. Feelings of joy or terror can harm you. So, you must teach yourself discipline, educate yourself on finance, and understand crypto will be the future of money. But only you executing these steps doesn’t lead to success. Others must know as well. And since you cannot rely on anyone but yourself, it’s on you to spread the word to others. If more and more people adopt cryptocurrency into their lives as more than a fad, then you and they can maintain control of your lives.
Please make a plan for yourself to learn something new about crypto this week. Explore an aspect of it you have no idea about. You cannot sit back and hope anymore. It would be best if you become an active participant in your life. You’ve been taught. You need to be taught. And while that’s true, the teacher is not someone else but you. Sure, you use others’ knowledge to build your own. But after you’re finished scrutinizing the knowledge, you come across. You will mold what’s left into your understanding. And that’s one of the most important tasks, if not the most important. You will perform for yourself.
It’s time to take action.
Stay strong.
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