They heated and heated the graphics you saw above and presented them as financial balloons. In fact, the properties and evolution of the assets that are the subject of these compared graphics are quite different from each other. One is celery, one is apple tree and the other is dry copper.
Towards the end of the 1630s, the value of a tulip onion was worth a Dutch worker’s 1-year earnings, and the bubble of the tulip craze exploded and disappeared. Giants such as Amazon, eBay emerged from the internet balloon known as Dotcom balloon, and internet companies such as priceline, shutterfly, coupons could survive.
Although the survival strategies of each company are different, there are giant companies that have the potential to increase their effects even now and even in the future. The index value, which was shown as a balloon at that time, is perhaps the size of a few companies. Bitcoin, on the other hand, is a different and more controversial value.
If we accept tulips as a commodity, dotcom is an index of companies and Bitcoin is a commodity or money? it is still a digital asset that has been disagreed with. One balloon burst, other balloon giants gave birth, we will see the future of Bitcoin together as much as the time reserved for us. Therefore, the nature of the balloons, conditions, periods and technologies are different from each other. Although shortcuts and reading of superficial analyzes are enjoyable, they do not broaden our horizons and blind our eyes.
3 Crisis (Common Denominators)
When you examine the great crisis and depression in the world, various common points attract your attention. Getting more credit, getting more credit, excessive profit hunger, swollen assets are the common denominators of these crises. Centuries of errors are constantly repeating, and some groups whose aim is to save the day (which includes some statesmen and their advisors) have also used these sink-rise fluctuations as an opportunity.
In 1985, the Swedish State abolished credit control requirements and the result was a bubble in huge real estate assets. Sweden’s largest banks suffered losses of up to 90%, the state seized the situation again and took the assets of banks to almost $ 10 billion. People paid the loan, real estate, balloon and punishment!
In the late 1990s, ASEAN, the Association of Southeast Asian Nations, offered investors short-term attractive loan rates. At that time, the region became a center of attraction and the capital, which liked such opportunities, flocked to the region. Of course, as a result of the raid, a balloon occurred in asset prices in the region. Growth rates in the region were around 12%, media gas was not delayed, “Asian Tigers” were creating miracles. Of course, the mentioned states gave huge budget deficits in order to keep the loans provided at a fixed rate. When the risk increased, it was the capital that betrayed it and started to flee from the region. Post-collapse, IMF recovery packages, flying interest. Capital, again, the land of attractive loans turned west and inflated the real estate bubble in the USA, according to some economists. Credit-bubble-budget deficits and the public paid the penalty!
Let’s go a little bit more recently, to Iceland, the country with 320,000 inhabitants hit by the 2008 crisis. The winds of liberal sauce, which brought destruction to the world, also affected the Icelandic banking sector, and after the privatizations in 2003, the three largest banks borrowed $ 120 billion in total and poured money to the top of the unknown community from where they received their private privilege. $ 120 billion came normal, right? but that figure was exactly 10 times the total annual production of that country. After that, the shares increased 9 times, the houses increased 2 times and the balloon was formed. U.S. rating agencies have rated Iceland Banks at the highest level, entering these huge risks and establishing a chain of happiness. Because the entire control mechanism was purchased. When the people did not want to pay the debt left to them, the British, who belonged to the religion of capitalism, accused them of laziness and said, “Will you be the Cuban of the North?” they threatened. People paid the credit-balloon and punishment!
“A drop of oil is more valuable than a drop of blood.” The mass to which the punishment receipt of the chaos, which draws even the barrel prices of the oil it describes to negative, is again determined! The global version of the balloons that the current collapse countries are experiencing one by one (By the way, I recommend Joseph Stiglitz’s book for globalization big disappointment). For centuries, the same mistakes have been made over and over again, credit-balloon and punishment receipts that have been ignored while earning and cut out to the public with the slogans of “let’s pay together” when it’s time to pay. When you rebel against this order, you are mocked by being called a communist. Imagine the superior intelligence of the capitalist order. Meanwhile, the capitalist system is also insidious, and there are balloons beyond what we can all see, and if we get into them, the issue gets longer.
The future
There are 3 balloons and 3 lessons to be drawn from the crisis for the future. I touched on these crises because technology has to destroy the unrequited credit system, which is toyed in the hands of certain zones rather than unlimited money. What is called capital creates itself arbitrarily on our back and at the slightest risk, he escapes from the field of struggle before anyone else. The answer to the question of whether this order will end is through the strengthening of the DeFi (decentralized finance) system. Currently, the baby will fall in steps, a definition that remains in a narrow area, but will be an area that will play an important role in the future. The important argument of the future is to share the collateral, provisions and all transactions transparently, and most importantly, to analyze the risks in real time without the need for audit institutions. The purpose of 5G, IoT and digital revolution is fully simultaneous or real-time analysis capability. Third-party auditing and rating agencies in the field of finance, which had been the buttress of the elite who had been in the past, have no place in the digital revolution, these institutions will be buried in the dusty pages of history. That is why I mentioned the Icelandic crisis above.
If you ask what the cryptocurrencies and blockchain will be in the future. Bitcoin and Ethereum are the most advantageous assets in stepping into the mass markets, and the digital assets in the coinmarketcap, which remain outside of it, will continue to live as the game park of crazy people with high risk thresholds. There are also very important projects among these projects, but they will either be purchased by giant companies or their digital assets with technologies and postage will be bypassed. The aim of most enterprises is to dispose of the initiative and become a unicorn for 1 billion dollars, which is the main motivation rather than producing benefits. In cryptocurrencies we will see much more stablecoin or digital assets fixed to any value. When the central banks enter this area, even if you go to the toilet, the states will be able to watch it.
Facts and indicators in the blockchain field show that it will become increasingly widespread to offer these technologies as a ready-made service, such as BaaS (Blockchain as a service), AIaaS (Artificial Intelligence as a service) thanks to the advanced infrastructure of giant technology companies such as Google, Amazon, Microsoft, IBM. Blockchain, for me, was kneaded as dough in the hands of companies like IBM and will serve us through such giant companies in the future. Blockchain will be centralized but federated networks will be found, and these networks will have the ability to cooperate with each other. We will see more blockchain projects in the states. I highly care about Oracle technology projects that feed smart contracts in the field of blockchain in terms of data. Chainlink has shown that I think it is an important player in this field at the moment, but it is priced like an ordinary altcoin, just like Ether. It has an ecosystem that will not be exploited in Komodo.
As for us peoples’ dreams of independence. Strengthening structures such as DAO is important in this area. It is important for us that completely autonomous structures are successful. Because we, the peoples who are forgotten while riding in the economy, are the parties that bear the burden and pay the costs in times of disaster. Never completely darken you, the light has risen again. Human beings experienced huge disasters in history and stood up again. We will stand up again, and this time, together with powerful technologies, these difficulties will help elites, the enemies of the peoples. Think of the technologies as chess boards, consisting of black and white pieces. Now, artificial intelligence games with human have ended, we will witness the matches of artificial intelligence representing the parties.
Stay with love…
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