Hey everyone! Just wanted to hear your thoughts on this glaring question.
Remember when crypto wasn't just about chasing new all-time highs, the latest NFT craze, or meme coins? Back then, it was about decentralization, financial freedom, and putting power back in the hands of the people. The vision was bold—a system immune to censorship, government control, and the failures of fiat currency. But now, it feels like that original vision is getting lost in the noise of speculation and hype. Have we strayed too far from what crypto was meant to be?
In the rush for quick profits, many are forgetting the true potential of blockchain technology.
I believe to get a good sense of where we are headed, transaction volume offers a real measure of utility, market fit, and adoption. When you look at the top five cryptocurrencies by transaction volume, three out of five are centralized stablecoins. Their utility far outstrips that of Bitcoin, but at what cost? These stablecoins are centralized, making them highly prone to surveillance and seizure. But there’s an even bigger issue: these companies hold treasury securities as reserves, making them significant contributors to the fiat system. They’re the 18th largest holder of U.S. debt—on par with entire nations. This goes against everything crypto originally stood for; these stablecoins are essentially FIAT in crypto form, the very thing Bitcoin was meant to disrupt.
And don’t even get me started on central bank digital currencies (CBDCs).
So, here’s the big question: If people are so eager to adopt centralized stablecoins, what’s the point of crypto? Why not just stick with fiat and the traditional financial system? Has crypto really lost its way?
Bitcoin and blockchain started with a mission to upend the traditional financial system, offering a form of money free from manipulation and censorship. Maybe it’s time to revisit the core principles that made crypto revolutionary. Rather than chasing the latest speculative trend, we should be looking at models that realign with the original vision of crypto—individual liberty, decentralization, financial sovereignty, and resistance to censorship.
To date, The Classical Gold Standard remains the closest thing we as a civilization had in terms of a sound monetary framework. It was a system that brought stability, predictability, and a tangible anchor for currencies. However, due to the same pressures that continue to undermine Bitcoin and the broader crypto space, the gold standard was eventually abandoned. We cannot let history repeat itself.
This is where frameworks like ShiftCTRL (https://www.shiftctrl.money/) come in, which, by modeling after the classical gold standard and using Bitcoin as a reserve, provide a stable and decentralized alternative to the flawed fiat system. Could this be the way to realign crypto with its original purpose?
What do you think? Are we ready to steer the crypto ship back on course and focus on long-term stability and freedom? Would love to hear your thoughts about this!
Remember when crypto wasn't just about chasing new all-time highs, the latest NFT craze, or meme coins? Back then, it was about decentralization, financial freedom, and putting power back in the hands of the people. The vision was bold—a system immune to censorship, government control, and the failures of fiat currency. But now, it feels like that original vision is getting lost in the noise of speculation and hype. Have we strayed too far from what crypto was meant to be?
In the rush for quick profits, many are forgetting the true potential of blockchain technology.
I believe to get a good sense of where we are headed, transaction volume offers a real measure of utility, market fit, and adoption. When you look at the top five cryptocurrencies by transaction volume, three out of five are centralized stablecoins. Their utility far outstrips that of Bitcoin, but at what cost? These stablecoins are centralized, making them highly prone to surveillance and seizure. But there’s an even bigger issue: these companies hold treasury securities as reserves, making them significant contributors to the fiat system. They’re the 18th largest holder of U.S. debt—on par with entire nations. This goes against everything crypto originally stood for; these stablecoins are essentially FIAT in crypto form, the very thing Bitcoin was meant to disrupt.
And don’t even get me started on central bank digital currencies (CBDCs).
So, here’s the big question: If people are so eager to adopt centralized stablecoins, what’s the point of crypto? Why not just stick with fiat and the traditional financial system? Has crypto really lost its way?
Bitcoin and blockchain started with a mission to upend the traditional financial system, offering a form of money free from manipulation and censorship. Maybe it’s time to revisit the core principles that made crypto revolutionary. Rather than chasing the latest speculative trend, we should be looking at models that realign with the original vision of crypto—individual liberty, decentralization, financial sovereignty, and resistance to censorship.
To date, The Classical Gold Standard remains the closest thing we as a civilization had in terms of a sound monetary framework. It was a system that brought stability, predictability, and a tangible anchor for currencies. However, due to the same pressures that continue to undermine Bitcoin and the broader crypto space, the gold standard was eventually abandoned. We cannot let history repeat itself.
This is where frameworks like ShiftCTRL (https://www.shiftctrl.money/) come in, which, by modeling after the classical gold standard and using Bitcoin as a reserve, provide a stable and decentralized alternative to the flawed fiat system. Could this be the way to realign crypto with its original purpose?
What do you think? Are we ready to steer the crypto ship back on course and focus on long-term stability and freedom? Would love to hear your thoughts about this!