This morning, we’re traveling back to some of the revolutionary changes that have made us who we are today. When you think about any advancement within a culture, the first thing that comes to mind is how change comes about.
How did the change come about, and what was the outcome of the change? The earliest implementation of change in our history would be somewhere around Colonial times. Around these times, cultivation outlined what people would eat and where certain things would be grown. This event would spearhead the locality of settlements. Would people build near the water, or would they set up more inland?
So years after the settlements were up and running, someone found oil. That oil would give birth to fuel, railroads, and autos. According to The American Oil and Gas Historical Society, the first well was set up in Titusville, Pennsylvania, around the latter part of the 1800s. If you look on a map, you will notice that Titusville isn’t far from the water. It was settled in the latter part of the 1700s. If you recall, Jamestown was settled around the beginning of the 1600s.
Looking at things from a historical stance, these advancements happen almost every century. They often help to bring the country into another century. However, with these advancements, problems seem to follow. In the past, the resulting conflicts ranged from slavery, racist treatment against Japanese migrants, and also attacks on farmers. These attacks happened almost always against the poor.
So, it is to no surprise that we see conflicts in the markets due to crypto wars. The attitudes to protect self-interest have not shifted that much. Over the past month, we have seen attack after attack launched at Dogecoin. It should come as no surprise when you look back at the warring between railroad companies and the banks.
For years the banks have always been the guardian of finance to some degree. Here comes a new currency that somewhat pushes regular banking aside, and people freak out. Cryptocurrency is still new when you think about an all-out operating system. We are probably overdue when it comes to an updated currency change, in my opinion. Germany and other countries in nearby locations updated their currency to the Euro. I remember moving to Germany some years after the upgrade, and I felt like a child learning to count again! It was uncomfortable, but I got it down. Getting the driver’s license over that way was another story; it took me two tries!!
So, here we are smack dab in the middle of the currency shift, and we are witnessing costly arguments over cryptocurrency. People are tanking rival currencies while others are yelling for the SEC to step in. I fear that the continual arguments will bring the entire house down. There shouldn’t be this level of hostility regarding which currency goes up or down. In the matter of Dogecoin, public figures were calling out for shortages. A lot of people lost money due to manipulation tactics dealt by people from rival coins.
Sadly, Doge didn’t threaten these coins. However, these people went out of their way to short the coin, which eventually caused eyes to turn in their direction. If we cannot change how we deal with competition, we risk growing as a nation. Once again, we see similar behavior that played out centuries ago with the railroads and banks. They often used bully tactics to get people to sell and move in order to gain their stance. Perhaps it is not too late to learn from history and open our arms to a new way of living without causing pain. We do not have to attack people’s assets in order to protect our own gain.
As always, I am not a financial advisor, speak to one if you wish to learn about investing.