elprof.eth ๐Ÿ”ฑ
elprof.eth ๐Ÿ”ฑ 8 minutes reading from Bitcoin

What Would You Do If the Blockchain Industry Collapse?

Hey! Let's go on a thought process.

I don't know your beliefs. I don't know you. But, keep your convictions and opinions aside for a moment and consider this:

"What if the Blockchain Industry fails completely? What would you do?"

It's easy to call btc to zero... but ๐Ÿ‘‡

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What would you do if the market nukes?

Certainly, CT is not going anywhere. That's for sure.

But, you'd be able to easily imagine that a lot of people would instantly become irrelevant, aimless, frustrated.

A lot of businesses and brands would collapse.

ALOT of people...

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would lose their source of livelihood.

They would lose their homes. Real estate will suffer.

Some major supply chains would be halted, price of commodities would hike.

TradFi with private and/or financial exposure to crypto projects (by usage or investment) could see major

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disruptions or even bankruptcy.

(Many people do not realize how intertwined Blockchain Technology already is with a lot of Web2 platforms.)

The economic impact of a total collapse of the blockchain industry would be monumental!

50% of the world could be wiped out!

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You may think that's not true. But it could be.

Again, think of all the talents; - technical, creative administrative, PR in Blockchain that would suddenly become jobless.

What are they going to do?

What are you going to do?

Coach on @udemy or dropship with @shopify

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Fulfillment by @amazon Freelancing on @Upwork @fiverr

That is assuming the cascade of bankruptcy, foreclosure, withdrawal of funding or debt does not push these companies out of business.

Or what? You gonna be selling courses or books? Or depend on your YouTube channel?

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Would you start developing a new industry and hope that it takes off and become revolutionary like Blockchain?

How about all the time lost; man hours & rippling psychological effects of this event for builders, investors, information specialists, GOVERNMENTS etc?

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Now, let's say we manage to survive all that.

Jobless. Near Economic Collapse. Worse employment Prospects.

And note this, many people in crypto are now currently & permanently unemployable.

They've broken out of that matrix and can never be satisfied with 9-5 ever again.

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So, you survive all that.

Then what?

I'm sure at this point, you could start thinking ridiculous stuff like, "spend time with family";

Well. Whatever.

You certainly can't say "travel the world". The world would be in chaos.

All these above are not even the bad part.

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The bad part is this:

If you manage to survive the fallout from a total collapse of the blockchain industry, and against all odds, manage to get back up, WHERE WOULD YOU KEEP YOUR MONEY?

Would you be able to trust your monies to central banks? Trust their investments?

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We have all seen that banks are more incompetent.

If you say you'd keep your economic worth in real estate, don't forget, the economy just got decimated. Almost everyone is poor. Or at least, purchasing properties is not the priority for them.

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So, that property may be illiquid for a good time.

If you say agriculture, don't forget, there is mad chaos out.

For example, you can't be doing agriculture in Ukraine right now, can you?

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If you say defense and ammunition, first, that would require some sort of investment. Hope you still have that after the collapse.

If you do, congrats. People will always buy guns and bullets.

But guess what?

More Chaos. Less access to resources to make more bullets.

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This should give you some perspective on the vitality of Blockchain Technology as we know it to the stability of civilization.

A different way.

An alternative infrastructure to prevent complete economic collapse. Or help build it back quickly.

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Whew!

All that was very bleak.

Here. Have some water.

Don't forget to follow me. Everyday will not be doomstopia.

Why?

Seeing how bad all this is allows you to understand and appreciate that fact that Blockchain is a decentralized technology.

With all the craze going right now, it's easy to think that Blockchain=Crypto.

When in reality, Blockchain= {crypto, n-utilities)^n

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As at today, there is no other technology available for man to combat and checkmate excesses from oversight, government, and institutions.

Trust is an irresponsible requirement where it involves important issues like self-sovereignty, ownership & personal data...

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Especially when the organization requesting that has a clear history of consistent incompetency and deliberate foulups.

There is no rational reason why governments keep operating the way they are. Or why some laws even exist. Or why the best & obvious solutions don't pass

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These are all realities that shape our lives and the quality of our experience.

We should play a more active role in it.

Blockchain + other technologies usually = something really beautiful.

Do not vilify such a technology.

Surely, do not ignore it!

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Blockchain+Finance= DeFi

Blockchain+Software Development= Smart Contracts

Blockchain+App Development= DApps

Blockchain+Government= DAO

Blockchain+Arts= NFTs

Blockchain+Society= Metaverse

Blockchain+Internet= Web3

Blockchain+Education =?

Blockchain+Healthcare =?

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This post is based on this twitter thread.

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