While sideways in a bear market, it's important to remember 2008 and why the heck crypto is so very important

At times like these - it's important to revisit why this all started, and why it's still so vital. Bitcoin was born as a reaction to the 2008 financial crisis - looking back in brief, remember that:

• Banks and brokers were giving out cheap, subprime mortgage loans to people they knew would be unable to afford them, fuelling a housing bubble

• these loans were sold to and then packaged up by Wall Street as financial investments such as mortgage backed securities

• This became a market in itself, with institutions buying and selling these packaged up securities internationally,.without any real idea of what they were

In other words, no transparency

Interest rates rose, housing bubble burst, people were unable to pay back subprime loans, financial crash occured in the US and spread internationally -

Hedge funds went under

Lehman brothers went under

Major banks had to be rescued by their governments

People queued up at banks to withdraw money which wasn't there

The financial institutions that caused the whole shitshow were bailed out by the government's and the average person paid the price, through taxes, austerity and so on

Whole countries had to be bailed out

Basically when the time was good - all the profits were privatised and in the hands of the few, yet when the shit hit the fan - all the losses were socialised, and those responsible were enriched even further while the victims were made to suffer more

This is what's crypto was all about solving

It's not about just being a speculative asset class, or fcking moonshots and animal meme tokens

It's about -

Taking out the middle man

Taking control of your own finances

Transparency of transactions taking place

Speed and efficiency of transactions

And a whole load of other good stuff

Whether things crash or rebound, bear market or bull, every so often reflect back on this. Put things in perspective. Look at all the resistance that's been put in place by the establishment, and look at how now they realise they can't prevent the coming changes so now want to be involved to control it.

Whatever happens,.if you remember 2008 or read up on it if you are too young to really remember, and you understand what crypto came to solve and improve, you'll still be here for the next year, and beyond.