If crypto ruled the world
Everyone likes pretty, shiny things.
It’s one of the biggest truisms in the world today – you can’t go wring associating yourself with things the sparkle or otherwise stand out from a crowd.
That’s why gold and diamonds have been great investments over the years. In both cases, they are just rocks, but their attractiveness has made people want them. And the more someone wants something the more you can sell it for.
Not everything can be shiny or pretty though. Somethings are naturally drab. So, what you need to do there is to somehow associate the boring object with something that it attractive. Slap some make-up on an otherwise average looking girl and suddenly everyone is swiping right.
And sometimes, like with cryptocurrency, there’s no form to see at all. So, you attach beautiful things to the idea of it to attract interest with the allusion of sexiness.
What’s more beautiful than fame? From the early days of crypto, it’s always been in the best interest of those in the space to promote the fact that famous people were using or investing in crypto. It doesn’t matter how compelling the argument for investing in crypto is from someone smart and knowledgeable, it’s just never going to have the same impact to the general population as one Tweet about it from a celebrity will.
To this day, we always talk about the NFL player that is taking his salary in crypto or the fact that a famous actress is investing. We are seeing this phenomena play out this week in the reporting of the Coinbase IPO.
Rather than focusing on the business aspects of the IPO, which will undoubtably be a massive success, most of the mainstream attention is on the fact that the rapper Nas is set to make out big when the stock goes public on Wednesday.
I mean, good for him. He invested in the exchange back before it was the sure thing it is today and is going to be rewarded for that foresight. But, we spend too much time talking about guys like Nas that took a lot of money and turned it into a lot more money. They were coming into the space in better footing than the rest of us and really aren’t the story here.
Yes, Nas and other celebrities have bought into crypto and that, in turn, has made buying crypto seem sexy. The entire space is having a moment right now and the price is booming partly because of it.
But, I’m not going to be distracted by all that. To me, celebrity and sexiness isn’t what crypto is about, or what it is intended to serve. What’s sexy about crypto isn’t that a rapper got richer investing in it, but rather what it does for average people who weren’t born with the same opportunities.
People who live in countries where their fiat money becomes worthless overnight because their corrupt government had to devalue the currency yet again.
The ability to let everyone play the same game with an equal chance in this world is the shiniest and sexiest thing I can think of.