Encryption and Revelation: Crypto is the “Promised Land” with Milk and Honey

The heart is in its place, only in one thought, heaven becomes hell, hell becomes heaven-John Milton “Paradise Lost”

For every prediction of a global crypto heaven, there is a corresponding example, that is, crypto is crushed by regulators or exposed as the ultimate Ponzi scheme. Inevitably, the future will be found between these two extremes.

If this new belief system and economic organization fails, there will be no good personal investment in encryption. No single crypto bet is a single micro bet. If encryption fails as a macro bet, then any specific discourse about why this application should get traction is useless.

To date, almost every encryption bubble has involved serious misjudgments about the true probability of successful encryption adoption. But this situation is changing. What used to be a bottom-up user adoption theory is now being dominated by top-down narratives about future growth and capital inflows.

The grand encryption topic is not about retail adoption. The meme of “institution entry” is more important. For more than a decade, institutional financiers have denied it. Cryptocurrencies are drug money, rat poison, and Ponzi schemes. But in these years, the mainstream talk about encryption has gone from avoidance to avant-garde, from avant-garde to Pascal’s bet.

Note: “Pascal’s bet” is a statement expressed by French mathematician, physicist, and thinker Blaise Pascal in his book “Mind”, that is: I don’t know whether God exists, if He does not exist, and there is no benefit to being an atheist, but if he exists, I will have great disadvantages as an atheist. Therefore, I would rather believe that God exists.

After years of denial and anger, many traditional Red-Pilled investors will suddenly turn around and overcompensate. As the vague resources in the hands of the hipster world order lose their power and are forced to become radical, many investors will be pushed to believe that encryption is the “promised land”, heralding the inevitableness of encryption.

Note: Red pill and blue pill ( Red pill and blue pill ) are a popular meme that reveals the disturbing knowledge and cruel reality in ordinary daily life and the “red pill” and staying ignorant and continuing to live Choose between the “blue pill” of ordinary life.

The only way out of the debt crisis is economic growth. I’m not referring to the 3% GDP growth, but the “nuclear fusion” growth. But in today’s world, the chances of such an outcome are very limited. In the absence of hope, despair, and a real lack of substitutes, financial capital will flow to the crypto world.

In the next few years, I expect that investors’ FOMO and FUD will be concentrated in the areas that have the most leverage on encryption and its top-down adoption. The extreme valuation of encryption may be an indirect measure of the narrowness of the road before us-encryption will become a liquidity black hole.

We live in a world now, and our evaluation of things is what they might become, not what they are. A belief system centered on index results, whether it is good or bad, determines the future. The other option is hyperinflation, pandemics, high interest rates and the end of the world of war.

The end of the world has no place in the world of money, nor can it be taken into consideration when investing. If the end of the world comes, there is no bet to win. Currency accounting techniques are the only way we can preserve a certain future. The market continued to pretend that the emperor was wearing clothes.

But the market can never go wrong. The market is a mirror. They are Wittgenstein’s rulers, which means they tell us more about our desires than what actually happened. They also show us a collective belief in the future. And the great thing about the future is that it is flexible.

We are at the same time experiencing peaks of madness and clarity. From the perspective of the old valuation model, (we are at) the peak of madness, (but) this clown world is meaningless.

(From another point of view, we are at a peak of clarity, because we need things whose prices are even higher than their current prices. If they are not, it means that they have no value, and we have failed – progress has stalled, and the exponential future narrative is dead.

Consider Thiel’s view of the dot-com bubble:

“The saying at the time was that valuation is meaningful because the future is full of hope. The real value is always in the future. If you can’t specify a very specific future, people will lock in a very specific past.”

The way I choose to explain is that the future is reflective and the past is analytical. Valuation does not have to be meaningful to you today. Sometimes, even an optimistic version of the future is self-fulfilling.

Some people say that it makes no sense now and think that we live in a post-value world. “Post-value” is just an exclamation of nihilism. I disagree with post-value theory. On the contrary, I will characterize it as the former value, because the value lives in the future.

Value never exists independently of the observer, nor is it contained in the thing itself. Value exists only in the mind of the entity with knowledge. Except for food and shelter, it is difficult to define the objective value of human beings. We jointly define what is valuable.

No action happens in isolation. Especially in a super-connected world made up of abstract numbers on a computer screen.We live in a Metaverse based on imitation. We input actions in it-input causes reflexive actions, reshaping the world around us.

Encryption and Revelation: Crypto is the "Promised Land" with Milk and Honey

An example of analytical thinking and reflective thinking: imagine that BTC can rise to $1 million and then return to zero.

Think about it, what will become a reality at higher and higher prices?

Think about how your own view of Bitcoin’s resilience has evolved over the years?

Think about it. ——Zhu Su

We understand the world by creating the world. We collectively came up with an economic game and fabricated indicators as coordination points. Today, the absurdity of the old rules has been revealed, so we bend it-reinvent the new rules. The most important rules are:

If it is a meme, it will work.

The past is meaningful. The benefit of Zhuge Liang after the fact is to apply the common story to the agreed event. The future is always chaotic. When the results become more and more unpredictable, humans often seek refuge in the embrace of pessimism. This is one of the great themes of history: the permanent apocalypse. Or more accurately, the expectation of it.

Pessimism is the core of human socialization. Why are Zerohedge and zombie movies so popular? (Because) people are addicted to the extreme pessimism of imitating others. This is easy, because most pessimism incurs inaction and is self-fulfilling. Optimism costs more because it requires at least some vulnerability.

Note: Zerohedge is a far-right liberal financial blog. The blog mainly conducts short-selling analysis, and the blog editor mainly believes in the doctrines of the Austrian school of economics. Outside of the financial sector, Zero Hedging also supports conspiracy theories and makes statements in support of the radical right in the United States. The internal content of Zero Hedging was released under the pseudonym “Tyler Durden”; the founder and chief editor were identified as Daniel Ivandjiiski.

Crypto is our optimistic thought experiment. It is our hedge against dystopia or doomsday future. We are working harder because we cannot reduce the risk. Therefore, according to our measurement standards, poison has become a good medicine.

Encryption and Revelation: Crypto is the "Promised Land" with Milk and Honey

We have pushed ourselves into a state of hyperfinancialization. In order to avoid the end of the world, we will treat Crypto as the promised land. But Crypto is not heaven or hell, it is a kind of purgatory-don’t believe it. It is a transaction in which we buy time for the exponential growth of human creativity.

Finally, I would like to thank Shaun for his valuable comments and Fiskantes for his stable peak nihilism.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/encryption-and-revelation-crypto-is-the-promised-land-with-milk-and-honey/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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