Bitcoin Crash: The Call To Re-Humanize Finance!

Bitcoin Non-Events, Reading Noise and the Re-Humanization of Finance Through the Future Wave of Conscious Leaders.

This newsletter does not represent the views of the author's employer and is not a financial or investment advice.

It is intended as a psychological, philosophical and systemic approach to the Bitcoin phenomenon to elevate the consciousness levels in the finance industry.

The newsletter is about Bitcoin and should not be generalised as views to the wider theme of Blockchain technology.

The writing of this article intends to be gender-neutral.

Magic Tricks & Deceptions

I remember as I watched a magic trick for the first time, a strange feeling went through my body.

At first, I was amazed by it.

But soon after, I started developing a repulsion towards magic — a deception game against the laws of physics, logic and common sense.

Bitcoin is magic.

Is it a currency, a commodity, an asset or… a Ponzi scheme?

My perception is that Bitcoin is none of that.

Bitcoin is unique.

One can entertain endless debates on whether Bitcoin is a Ponzi scheme or not.

It is neither.

To truly understand Bitcoin, one needs a new way of thinking.

A paradigm shift.

Trying to understand Bitcoin using our conventional mental models is the same as attempting to comprehend Quantum Mechanics using Newtonian models — it doesn’t work like that!

And THAT is the fundamental reason why Bitcoin has died countless times and is still alive.

Like Schrodinger's cat, this paradox can only be solved by replacing the Bitcoin prototype with a new crypto.

A Conscious Crypto!

Until then, Bitcoin will continue to prevail in the minds of those who enjoy being deceitful with magic tricks.

Sustained by an industry of contrepreneurs.

Learning From Pain

In recent months, we have watched a free fall in Bitcoin's valuation.

At last year's hype, Bitcoin Believers enthusiastically claimed Bitcoin would hit the historical mark of $100k by the end of the year.

The industry perpetuated mindless propaganda, including in public transports, using FOMO tactics.

Something was clearly very wrong!

As with uncovering magic tricks, the information to watch for is not on what we see… but on what we do not see — the "non-events".

This $100k "non-event" turned into the beginning of a free fall.

Meanwhile, some Bitcoin Believers have started to question their decisions.

Pain is indeed a great teacher.

And in that pain, it is time to reflect… "what's next?".

Bitcoin ethos was lost a long time ago.

What Bitcoin Believers advocate today was corrupted many years ago.

Bitcoin recent crash is a wake-up call to many who jumped into it during last year's FOMO season.

Some have been prepared to face a "Bitcoin Winter", as I mentioned in my newsletter back in Dec 2021.

If we are in a Bitcoin Winter or not, that's to each one to judge.

Regardless of what comes next, one thing is certain; human nature has not changed since 1929, 1987, 1998, 2000 or 2008.

FOMO, YOLO and others are all very predictable behaviours in human nature, regardless of any development of technology.

And this is what one should be focusing on.

The call is not to "buy the dip".

The call is to re-humanise finance!

Reading Noise

Many of you reading this newsletter — if not all — want to live in a more stable financial system and avoid the repetition of the 2008 crisis.

Bitcoin's original ethos was an idea to create such a system.

But the reality is that Bitcoin is no longer helping such honourable cause — it is, in fact, doing the opposite.

The recent events have been perceived by many as "noise" — common on a paradigm shift such as the times during the insurgence of the internet.

From this perspective, the current "noise" is, for many, strong evidence that Bitcoin is here to stay.

That Blockchain will revolutionise the financial system in the next few years.

There are indeed strong signs of that being the case.

But the danger of perceiving the current times as "noise" is yet another lost opportunity to learn from the mistakes to build a better system.

Regardless of whether we are living a paradigm shift or not, "noise" has considerable information to learn from on what NOT to do.

"Noise" and "non-events" are information!?

The people who fail to learn from the current "noise" are the same who fail to see opportunities in the "noise" — in a way, they still perceive the world as the herd!

Unfortunately, most finance & tech practitioners are oblivious to "noise" & "non-events" — preferring to fill endless data in Excel spreadsheets or read one book a week.

I don't perceive finance & tech practitioners analysing "noise" & "non-events" from a conscious level.

The focus seems to be on improving the technology instead of looking into the wider picture.

At the end of the day, we need to ask ourselves: "what problems do we really want to solve… how do we want to make the world a better place?"

If tokenisation is nothing but a technological evolution from the current state of affairs, then it is a lost opportunity!

A lost opportunity if it doesn't bring actual incentives to solve wider problems such as climate change or global wealth inequality.

The solution is the creation of a "Conscious Crypto" — but not by people who are only focused on the technology.

We need to bring humanistic disciplines as well, such as history, human behaviour and philosophy, to name a few.

Only the future wave of Conscious Leaders will be able to do so.

A Lesson From Jeff Bezos

Bitcoin Believers love to compare the current times with the ones of the resurgence of the internet.

They often quote lessons from Jeff Bezos, such as the fact that he left a well-paid job on Wall Street to found Amazon.

More recently, we had other examples, such as Anne Boden, who left her job in Investment Banking to found Starling Bank, the online bank in the UK.

Such cases are used as examples of "jump-in" into the current opportunities and avoiding regret in the future.

The thinking continues as "if one fails, at least it was a valuable experience" — this is when some people start to regurgitate the quotes of Thomas Edison as yet another example of an entrepreneur despite the number of failures in the process.

All such facts are correct but taken out of context.

If you read the biographies of these examples carefully, they all had something in common — they were using their brains!

Success is not about "jumping in" and "having no regrets".

That is a mindless way of doing anything in life, only showing a complete lack of self-mastery.

The second common feature among them is that they created something that provides value to others.

The current mindless activity is rather about chasing opportunities & hypes without actually understanding what Bitcoin really is.

Where everybody is looking is no longer a unique opportunity to create value — it is a good chance of being a bubble instead.

And this is where one can use the real lesson from Jeff Bezos.

“I very frequently get the question: ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. I almost never get the question: ‘What’s NOT going to change in the next 10 years?’" —Jeff Bezos

And that is the point!

Regardless of any technological development, what is NOT going to change is Human Nature.

And the real opportunity is not on tech A, B or C.

Instead, it is how to bring that new technology together with our Human Nature.

The real opportunity is the re-humanisation of Finance.

The real opportunity is to design systems around human-centered principles.

Whether that be with AI, Blockchain or Quantum Computing.

And that opportunity will only be achieved with the future wave of Conscious Leaders!

Tip of the Week

The vision might be obscure due to the "noise" we are living in.

People usually perceive events as more important than non-events.

And until the vision becomes clear, frustration may arrive due to the slowness of the process.

Here is then a tip to become a Conscious Leader.

Don't get into the trap of jumping into something new just because you got fed up with your current situation.

The problem is that you have worked a lot without yet reaching truly independence & empowerment.

But the truth is that there is no such thing as a "career change" or "life transformation" — let alone "get rich" schemes.

The path to success is by connecting dots, not building new ones isolated from the others.?

This is a subject that genuinely fascinates me.

Having coached many people unable to connect their dots, I realised a common pattern between them — there is always a problem behind the problem that they are not consciously aware of.

If you want to know more about how to connect your dots, don't hesitate to book an appointment here for a free coaching session.

Book your call here:

https://cal.mixmax.com/nunoreis/15_introduction

Alternatively, please DM.

Thank you for reading this newsletter.

Nuno Reis

Former Bitcoin believer turned into a Bitcoin sceptic.?

Disclaimer: Opinions expressed here are my own.

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