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As the Ethereum network merge approaches its final phase which should happen on September 15, we have to talk about the general idea of investing in crypto. Speculators are talking about the upcoming event with frightening zeal arguing and trying to predict the future. Some say that Eth will drop to $400 in the worst-case scenarios, others predict that price will recover.
Some think that the fork will occur and leave us with uncertainty about which network to continue supporting.
One thing that unites all these speculations and phony predictions is that they are all about money-making. In particular, about fiat money-making. It seems that the vast majority of people discussing the merger are interested only in how the token will compare against a dollar bill. This is something that permeates the whole industry.
Millions of people are interested only in how they will make more fiat with their crypto investments.
The activity on multiple Reddit subreddits dedicated to crypto projects and the intensity of Google searches related to them have dropped dramatically since February of 2022 when Bitcoin hit one of its all-time highs. Today, many analysts and experts are only talking about the impending doom and don’t provide any valuable insights.
It feels that the whole news cycle is full of people trying to push their agenda. Those who shorted the market continue talking it down. Simultaneously, people who are bullish on the market hype up even the tiniest positive news article that highlights how the world is approaching the era of wide adoption.
The speculative nature of many crypto tokens created a wrong impression about the purpose of Bitcoin and Ethereum. Millions see them only as assets that can bring them profits. The community as a whole is less about envisioning a future with money that cannot be regulated by governments and more about trying to fool the next guy to make more money by sucking them into a Ponzi scheme.
If you are among crypto enthusiasts and want to see a financially free world, maybe start participating in discussions and contribute to the dialogue. We do not have the luxury to stay silent.
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