Why Cryptocurrency Is Our Modern Day Robin Hood
We all remember the old story about Robin Hood as mercenary who “stole from the rich and gave to the poor.”
In the era of Bitcoin, cryptocurrencies, and the monetary evolution that is taking place in the U.S. and the world makes the analogy to Robin Hood even clearer. In the 13th and 14th centuries when the Robin Hood character first appeared in ballads and poems, Robin Hood was described as a “commoner”:
neither a knight nor a peasant or “husbonde” but something in between
The 2009 financial crisis taught us about greed, deception, and the vulnerability of our banking system. On top of all that, the complex financial products that caused the crisis were so complicated to understand us “commoners” were left scratching our heads as to how the ratings agencies, the Fed, and the banks would allow all this irresponsible behavior.
Cryptocurrencies is the commoner’s response to our existing financial system.
Why do only accredited white collar investors get access to the best investment opportunities? Why are bankers on Wall Street the only ones that can decide the financial futures of all citizens?
As cryptocurrencies and ICOs redistribute wealth to new companies and more investors pour into this industry, Wall Street gives up more control to the commoner and soon our financial futures will be determined by us and not by bankers.
This whole revolution came from a breakdown in trust. It came out of the ’08 financial crisis where people said hey, we no longer trust financial institutions, we no longer trust governments.
Mike Novogratz, legendary hedge fund guy turned crypto investor sums up the sentiment nicely in this video:
Crypto Is Not For Everyone
As shown above, Robin Hood was neither a knight or a peasant. His goal was to redistribute wealth and narrow the inequality gap.
Cryptocurrencies don’t care if you are rich or poor, but it does appear the “average” person is the most common investor. While there are still bankers and financiers who invest in crypto and perhaps poorer folks investing in crypto, the majority is still your average Joe. It is only through the mass adoption by the commoner that crypto currencies can overcome the complex financial products that led us to the crisis in 2009.
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