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Digital Currencies Like Bitcoin and Ethereum are Booming

Last Updated March 4, 2021 4:56 PM
Andrew Quentson
Last Updated March 4, 2021 4:56 PM

Good Morning America. The sky is shining on London, revealing some blue, while the digital currency space is covered in green. Bitcoin is up some 3%, Ethereum is up 13%. Bitcoin is almost touching $2,000, Ethereum has now passed $100.

The current market cap of all digital currencies – source coinmarketcap.

The combined market cap of all digital currencies is almost $70 billion. Higher than some global corporations. Because people, especially young people, are flocking to this space in numbers we have never seen before.

Both bitcoin’s and ethereum’s public spaces now have around 3,000 online active users, but eth appears to be far more active. Their daily discussion thread had a total of 7,779 comments, a level of activity never seen previously.

Yesterday’s activity on r/ethtrader’s daily discussion – source reddit.

They’re partying in an atmosphere of splashing out while hanging out with your best friends. Words of love, comments like “you beautiful people,” are common, with many funny remarks and stories in a gathering that money can’t really buy.

Because this may be our generation’s Woodstock. Our generations 60s, or 80s. This is our generations way of sticking up our fingers to our elders who sent us to war and keep us at war, who bankrupted our nations, who sank us in debt, and who have become morally corrupt with most institutions having rock-bottom approval ratings.

Now that we’ve come of age and seen the mess they’ve created, we’ll build our own banks, our own governance, our own laws, and we’ll do it better, because it will have blackjack and hookers.

And it’ll be glorious, because we’re British or British-derived, not French. We’ll do it with art and we’ll do it with code, we’ll do it incrementally and we’ll do it consensually because it’s just better so everyone will want what we are building, including our elders.

The Ethereum Dream

After nearly two decades, we can finally dream again. We can dream of peace and we can dream of flying cars. We can dream of fairness and justice, and we can dream of stronger and faster.

We can lift the poor and the developing nations, while enriching the rich and our own civilization. We, this space, stands out to uniquely offer all hope. Hope that we can build a better world, hope that we can do things far better for the benefit of all, hope that we can bring peace, not through hate or scapegoating, but through offering a dream.

The ethereum dream. Just by some code that no one can stop, we’ll bring back money to the people. Not because we dislike banks or governments, but because they too will see it is better for the regulator of the free market, money, itself to be regulated by the free market.

That statement isn’t a hypothesis, but the insight of Hayek, a Nobel prize winner who spent his life studying money. So the foundations of this space are built on strong and mainstream grounds, not fringe thoughts as many were led to believe in the previous years.

Its walls are futuristic in architecture. We are digitizing money, making it dynamic, turning it into code, while giving it a very primitive level of intelligence in that we can tell it to do things and it does do so.

The applications only imagination can constrain and the benefits, for poor or rich, banks and governments or the people, will probably be very considerable. To the point where we might actually get those flying cars in our own lifetime.

Boom Times

So, no wonder people are coming for who doesn’t want to be part of a scientific movement which offers an alternative to the past 15 years, and reconnect our timeline to the optimism and the unity of the 90s?

Who would rather hate or see children watch the news instead of dreaming of conquering Mars? Who would rather watch the theatrical political show on TV, instead of partying on blockchenized cars and smart contracted grids, decentralized social networks and eth based music projects while keeping fit with e-sport on ethereum’s public blockchain.

We now have a blond as the leader of the free world and the last time that happened, back in the 90s, our only political concern revolved around where he was keeping his pants. Perhaps that will once more become the dominant narrative. Perhaps, with it too, the calls for peace will once more become louder.

Because, perhaps this boom has only begun for we are building the future and since it’s all very new, the field is leveled, there are no barriers to entry. That makes it energizing as creativity floats free, bringing in the freedom-loving artists.

It happened in the 90s when the internet was very new. It’s happening right now in the blockchain space because ethereum has made finance just one application. This thing can disrupt even the fashion industry by giving high end dresses a method of ensuring authenticity and ownership.

So no wonder this space is booming because of its unique ability to affect almost everything, including your toaster. Making it all just better, faster, cheaper, and a lot more fun as well as just cooler.

Featured image from Shutterstock.