The Reddit Rebellion
Recently we have witnessed the power of the people using social media forums like Reddit and telegram to promote a cause or to influence huge profits in the stock market. Back in 2017, before the Bitcoin crash of 2018 from 19k to 3k, the Crypto trading frenzy of new startups created a whole new technological capital raise and trading type platform. Very cutting edge for our time as many of these tokens were using ERC-20 protocols which make it very easy to create digital assets.
The cryptocurrency environment was a flurry of activity with millions of dollars in capital being exchanged and created. Using the internet and social media platforms like Reddit, Telegram, Facebook, Linkedin, and Twitter many of these startups promoted their token sales with fervor. Initial Coin offerings were promoted and pumped on a daily basis. The lack of regulation created a type of wild west financial environment. Investors were always looking for the next best opportunity to make a quick buck.
Today almost 4 years later we have witnessed an incredible phenomenon of the power of the people and retail investors coming together. Pump and Dumps are nothing new. Short squeezes are nothing new either. And the power of the two coming together in harmony to create a tidal wave in the financial markets never seen before. For the first time in history, we see how unity in the market can have a huge impact on Capital investments.
It's interesting to watch in real-time the unfolding of the financial markets as we know them and the rise of a new digital market known as cryptocurrencies. Maybe in the sense of us not owning anything and being happy, in the words of the IMF, is meant to mean everything will be owned cooperatively in the form of tokenized assets. No real central authority but a society in effect supporting each other financially and exchanged on decentralized platforms. It's too early to tell how everything will unfold but all we can do now is sit back and enjoy the transformation of humanity and money as we know it.
