There are many topics of conversation that come up during the bear market that simply do not come up otherwise. This is disappointing because it's a constant reminder that we're all drowning in a scarcity mindset. It's pretty obvious that if an issue only comes up during a certain point of the market cycle then it's not really worth thinking about too much (unless the topic of conversation is volatility reduction itself). At yet every four years we seem to rehash the same conversations over and over again is if it's relevant and new.
Regulations
No one cares about the regulators during the bull market. Number is going up, so who cares. Sure, the regulators might cause a 30% dip with massive FUD from time to time, but that's just an opportunity to buy the dip and go long.
The funny part is that regulators aren't even trying to regulate anything particularly dangerous. They're trying to regulate the banks and the greedy centralized dev teams that premine their tokens and have unilateral control over them. That's not crypto regulation; that's just more banking regulation coming into play, and should be completely expected, but somehow isn't.
I've seen seeing a lot of talk recently in crypto about, "all we want is regulatory clarity", which I find funny because crypto can't be regulated by design. It's anti-imperialist by nature, and the bigger it scales the more obvious this will become. What happens when a crypto community becomes more powerful than mega-corps, governments, or even the military industrial complex? Very very weird disruption that. When communities are powerful enough they earn a place at the negotiation table by force. This is something we haven't even come close to seeing materialize.
The most threatening tidbit of regulation regarding crypto doesn't even specifically target crypto: but rather TikTok. This is the one that people have been saying, "they'll give you life in prison for using a VPN", which again is obviously complete nonsense. That's exactly the same as saying if you download a song you'll get slapped with a $10M fine. This is simply not how the law works, but people like to exaggerate these things and be sensationalist about them. I try to take an approach that's more grounded with actual reality, even if it's difficult to speculate where the simulation will actually carve out it's path within the field of time.
CBDC
CBDC is another one of those topics of conversation that's going to completely vanish during the next bull run cycle. This is particularly funny because I guarantee that we won't even be able to buy CBDC tokens by the time the next bull market comes around. A lot of this stuff is five years out (minimum). Maybe ten. That's more than a full bear/bull market cycle, and yet people only make a big deal out of such things when they're drowning in a scarcity mindset.
Until such times that I can actually trade real crypto for this fake CBDC garbage, people should really shut up about it. They don't exist. They're vaporware. They're repackaged enterprise blockchain, and the only way they can possibly work is if the government makes every other option illegal, which again is ridiculous and defies every rule of propaganda and rule of political manipulation. It's simply too overt to work anywhere but China.
Also CBDCs are simply too complex to force people to use them. This idea that a government agency is going to create some slick piece of streamlined software that even grandma can use is completely fucking absurd, and I'm tired of hearing all the alarmists chime in with their bullshit. This technology doesn't exist, and all the prototypes are absolute shit.
5% dips
OMG how are you handing this dip bro?!?!
I swear to god every 5% move down everyone loses their god damn mind and it's so pathetic. We've been trading within range for an entire goddamn year. There is no dip.
The unit bias is also aggravating as hell. I've seen a dozen memes already talking about the difference between $30k+ and $29.9k. Please stop. It's embarrassing. Pull yourself together.
5% dips
changing tokenomics
OMG CAN DEVS DO SOMETHING?!?!?!
Every bear market communities freak out and think it's an amazing idea to completely change the tokenomics of their system to make number go back up again. No one ever tries to lower the price when it's ballooned to the moon, which is exactly how to create stability and lower volatility. If you're not willing to lower the price of the token during the bull market then stop being a hypocrite and trying to raise the price during the bear market. You can't stop the market cycle with greed, and any attempt to do so will just make the problem worse.
A community's willingness to change how their network operates simply on the USD spot price of the day is a huge red flag. This is why Bitcoin is still top dog in many regards. No one will ever change Bitcoin's tokenomics. That shit is locked in for at least another 50 years. Maybe they'll finally increase the blocksize when the time to do so is painfully obvious. Other than that, Bitcoin is a network we can count on to not evolve. This is a feature not a bug.
SBF and other scams
If we were in a bull market no one would give a good god damn about FTX, SBF, or any other scammer for that matter. Will SBF go to jail? Who cares? He's lost all his reputation and he'll never "work in this town again". It doesn't matter if he goes to jail or not. That has zero affect on what's to come. Nobody will ever trust him ever again, and that's what matters within this emergent attention economy.
The mob mentality and the need for revenge and the rule of law is disgusting and completely hypocritical within the cryptoverse. So many hypocrites running around asking for Daddy government to punish someone rather than take responsibility for their own actions. I remember 2020 quite well and the FTX hype. I remember thinking "wow that's going to end badly". Little did I know how right I'd be. Does anyone take responsibility for putting their money onto a new unproven exchange that offered obviously unsustainable yields? No, of course not, they simply outsource that frustration into thinking SBF deserves a 120 year prison sentence for white collar crimes. It's disgusting and pathetic on so many levels.
Conclusion
It kind of sounds like I'm furiously ranting in this one but honestly that is not my intent nor how I feel about any of these issues. Like I've mentioned a few times already: these are all bear market trifles, and we won't be talking about any of these things within 1 to 2 years. If the 4 year market cycle is to be trusted 2024 will be the year of new-narrative tokens and extreme alt-market gambling just like DEFI 2020 and ICO 2016. Do you guys remember DEFI 2020 or ICO 2016? LOL those years were batshit insane, and they'll be back once again to drown out all this other noise. Noise replaces noise; it's all part of the cycle.
Please let the next narrative be social media. Edicted could use a new pair of shoes.
Return from Bear Market Trifles to edicted's Web3 Blog
