Some economists have officially called out the global economic downturn – though some are still projecting for it to happen in 2020. Whichever way this goes, it is already a fact that many economies around the world are already feeling the heat. Oil exporting nations like Venezuela have fallen into almost “total anarchy” due to low oil prices, and hyperinflation of their national currency, the Bolivar.
It is no accident that countries around the world are considering rapid de-criminalization of drugs, as it happens – drug wars are extremely costly and have proven to be ineffective. Also, corporate marijuana has proven to be extremely lucrative, where many listed on the stock exchange (in Canada) have generated at least 20-fold returns for investors who have put money in their stocks. Why say no to billions of dollars and the jobs that come along with it?
The same can be said for the blockchain and cryptocurrency industry. The rapid slowdown of global growth, increased automation in production, manufacturing and even services have reduced the employment opportunities for many – forcing many governments to play ball. After all, who’s going to pay for the unemployment benefits?
You’ll lose your job at some point – so be prepared
So, we can pretty much resign to the fact that we no longer believe in savings. Interest rates have been too low for too long. Why think about saving, when you can have that brand new IPhone X-whatever right now, and even pay in installments? That’s right, we want things yesterday – a bunch of impatient bastards.
Many of us still probably live out of our parents’ home, and hardly enjoying our jobs (if we had a job). Still, we enjoy our morning latte, and our weekend parties. We live from hand to mouth, but we have our credit cards. We stick to our jobs and start to hunt for the next one, right when we know our bonuses are coming. We need that bonus because we can pay off our credit card debts. Truth is, we need to start waking up.
Don’t for one minute think our jobs are safe. If blockchain doesn’t take your job (or mine), AI and the machines will. It does sound dreadful if we put it that way, doesn’t it? Remembered how you laughed when taxi drivers protested against Uber? Someone will be laughing that you lost your job too – on how stupid and outdated you were.
Crypto is not a lie
This is one thing the baby boomers (i.e. our parents) will never get. Why crypto? It’s the only f**king chance we’ve got, and that’s the truth! After all, most of us are too poor to own a house, let alone a car. That’s why we Uber, d*mn it! Whatever cents we have left of our income, isn’t enough to buy any stocks, or invest into anything (this is why Robinhood app is so d*mn popular!).
However, let’s face it – cryptocurrencies are in a state of bubble right now. Most tokens (let’s say 99%) will disappear into oblivion, leaving many to crawl back to their parent’s basement. Before we go blaming the industry, and calling it a lie, it isn’t. After all, being able to transfer value to anywhere in the world, at almost zero cost is hardly a lie. Less we forget the lessons from Mr. Value Investor himself (Warren Buffett), the fundamentals are the most important.
All things considered, always stick to the major leagues – Bitcoin, Ethereum, Litecoin, Dash, amongst others, and diversify!
It doesn’t take a genius to realize that billions of dollars that previously filled Wall Street has now being pumped into startups. Companies who barely make any profit easily raise hundreds of millions of dollars. Make no mistake, this is another bubble in the making; one that will fuel the next crypto rally.
We’re not saying crypto can solve the world’s problems, but we believe that you’ll never go wrong by investing more time into this space – invest and build your life to profit from this space, before it’s too late. Saying “No”, and being dumb about it is like saying you don’t believe in the internet, phones and the personal computer. So, time to wake up, and quick.
Cover photo by: usmoneyreserve
Rocket Internet by training, he has worked as a professional marketer for Lazada/Alibaba & Bamilo (Ecommerce) and Easy (Transportation). Later, he honed his skills in operations, logistics, and management by launching and growing the Thai business (worth tens of millions) of a popular cross-border ecommerce platform (in Southeast Asia). Headhunted to join a public-listed tech company in Singapore, he led its Thai business until early 2018. Regarded as a trusted advisor by venture builders, Chong spends his time advising and investing into tech and crypto projects.