Something Else Will Take On Wall Street

February 04, 2021

Damyan

Written by Damyan I write this stuff. Enjoy You should follow them on Twitter

Displeasure with Wall Street has existed for a long time. A big part of Wall Streets’ business is shorting stocks. And also using (allegedly blabla) dirty tricks and manipulation to drive down stocks. In 2008 the whole financial system collapsed. Certainly not because of food vendors. Or nurses. We can thank Wall Street bankers for that. But even after this massive failure, only 1 Wall Street banker went to jail. The poor shmuck. The people responsible for all this pain and hardship got bailed out. And to add salt to the wound with taxpayer money. While normal people got diddly squat. Wall Street is at the top of the human food chain.

But only One can be at the top of the food chain.

WallStreetBets going after Wall Street is fantastic. And also winning so far is absolutely brilliant. However, there is a problem. A big one. We expect actions against market manipulation. And illegal practices of naked short selling. Or stock ladder attacks. But the harsh reality is that they are above the law. Wall Street is totally and unequivocally above the law. Take this for example. The SEC announced they will be investigating the GameStop stock frenzy. And everyone cheered. But then we heard the investigation is against WallStreetBets. Not the other way around. And now no one is cheering. The people being manipulated are under SEC investigation for manipulation. This is dystopia stuff. Worthy for a banana republic indeed.

The escape we all deserve.

Manipulation only works because we are playing on their turf. Where they can change the rules of the game if they start losing. And also they get bailed out every time they f*ck up. With imaginary dollars printed out of thin air. The only escape from the land of imaginary money and infinite greed is decentralization. Power to all, not all the power to one. There are a lot of cryptocurrencies. But one has prevailed as the winner. The system which has never been halted. And has never been slowed down, hacked, or compromised in any way. A system that transcends all governments and politics. The first cryptocurrency ever made. Bitcoin.

Why Bitcoin is the answer, not WallStreetBets.

Elon Musk Bitcoin

Firstly do not get me wrong. The movement started by WallStreetBets is amazing. And we have to continue fighting. But if they can change the rules when they can we cannot win. How many times does one win a rigged game? That’s right, never. So why not play the game where everyone is equal. And no one has absolute control. You have control over your capital. But intervening in the affairs of others and their capital is impossible. And also consider the fact that the Bitcoin blockchain is the most powerful system mankind has ever created. Using twice as much electricity as Scotland. This is a massive amount of monetary energy. Forever encrypted into a token. Easily transactional to anyone on earth within 10 minutes. All while using 0 middlemen. Or trusted parties. Which have always abused their power.

The transition into the Bitcoin standard.

Of course, Bitcoin will not be the answer to all our problems. But it’s definitely better than what we have today. More billionaires than ever have invested in this bright future. It’s time we stop thinking of Bitcoin as just some noise in the background. No, it’s time we begin implementing the new Gold standard. The Bitcoin standard, where all of our cash is backed by Bitcoin. There will be no inflation and less income inequality. More opportunities for more people and less repression. Some might think Bitcoin can never win. But I think Bitcoin has already won.

Read why Elon Musk said “In retrospect, it was inevitable” about Bitcoin here.

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