Cryptocurrency prices have been in free fall lately. Most of 2018 has been steeply downward and there's no telling if we're at the bottom or if the world of alternative assets will go below $100 billion in total value.
Price does not always equal value, though. Part of what we're seeing in the digital asset space is fear. Worldwide there is extreme economic uncertainty and fear right now, this isn't just a blockchain thing. There is a global power shift occurring and nobody really knows where or when things regain their balance.
The dollar is gaining strength not just in cryptocurrency terms, but when priced most other assets. This is an indicator the world of big money still thinks USA has the biggest guns and offers the greatest security. Trump has not backed down or been bought off the same way bathhouse Barry or HRC have been in the past and this has disrupted things in drastic ways on the global and national stage. Cryptocurrency is a small fish in this world wide financial ocean and we've been getting tossed around in the over sized waves our current times generate.
I've thought bitcoin and it's many offshoots had tremendous potential for years now. This potential was mostly untapped up until 2017 and then we started to see some tangible (in the digital sense, of course) examples of why blockchain everything was so damn cool. The 2017 ICO boom was the first indicator that BTC and blockchain were more than just philosophical internet nerd money. Not just the amount of money that came into the space, but the ideas and products that were being developed and proposed. Some big problems were being tackled in very innovative ways.
In 2018 the ramp up of tangible and very useful products that are available has increased exponentially. Most of these developments are still difficult for the average internet user to grasp and use, but they are really out there working as we speak. 2019 and 2020 will likely bring the first big wave of user friendly decentralized products as the bugs get worked out and the developers begin focusing on user experience more than core functionality.
It's easy to be frustrated and gloomy in the crypto space with prices of many coins now 90% under last year's highs. This is a time of year for giving thanks and remembering all the reasons we are grateful for what we have, not for whining because a Lambo is out of our price range. The original reason for blockchain anything was to decentralize power from the few out to the many. This is still the goal for all of my favorite crypto projects and in spite of the lower market valuation I'm seeing this goal getting closer and closer.
Freedom and security from clandestine and oppressive financial systems is the reason Bitcoin was created. It was created from that human spirit we all share that demands freedom. This spirit yearning for freedom is growing, not just in America but world-wide. This is why I'm thankful to be here in the crypto space. After all, some things mean more than money every could.
Holiday blessings and cheer to you all!