Another in our occasional series highlighting an informative Tweet thread...
Most people here have absolutely no idea what is about to come for the crypto ecosystem with Gen Z. It will cause monumental landslides in status quo. They think we are clueless when it comes to this, but that couldn’t be further from the truth.
How would I know? Well, I am a part of Gen Z. We are the young men + women between ages 10-25. Unlike previous generations, we didn’t have promise of social security, cheap housing or cheap equities. We were chewed up, spit out, & left to clean up the mess that was left for us
We watched as opportunities in the real world shrunk, and in 2008 the market went into recession. What followed? 𝘛𝘩𝘦 𝘦𝘯𝘥𝘭𝘦𝘴𝘴 𝘮𝘰𝘯𝘦𝘺 𝘱𝘳𝘪𝘯𝘵𝘦𝘳. It is no wonder we didn’t care about your boomer stocks, bonds, metals, or index funds. We needed something more.
As a big “f*** you”, we have turned our capital towards culture. We bought memes, dog tokens, NFTs, crypto and anything else we could get our hands on. We gathered on Reddit to short squeeze tens of billions from vcs shorting Gamestop After all - what did we have to lose?
Better yet, we grew up watching the technological breakthroughs of the 2000’s from our very own eyes. This type of stuff is all we’ve ever known. We played video games, joined clans, traded online items, & were best friends with people we knew only by nickname. Remember WoW?
The MMORPG was so popular that people began trading real life money for gold in the game, to be used as currency. Then, users began to “farm" gold, growing it to a $900M market & employing millions of people Some were even making 15x the average wage of a doctor in their country
Until it was all cut-off. In 2010, Blizzard banned gold buying and nerfed several items at an aim to stop this. This enraged many players who felt as if they had been robbed. It would even lead to the eventual creation of Ethereum - as said by Vitalik himself…
“I happily played World of Warcraft during 2007-2010, but one day Blizzard removed the damage component from my beloved warlock’s Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit.”
These examples made it clear that building a career online was possible - and I like to believe I’m a great example of this. I’m 20 years old. My job? I’m a croissant who writes about crypto on Twitter. No one would have taken that statement seriously several years ago.
But there is something that will spark it all: 𝘖𝘸𝘯𝘦𝘳𝘴𝘩𝘪𝘱. Our grasp on the internet is smaller than ever. Virtual reality + the metaverse will only help to fuel the fire. We 𝘸𝘪𝘭𝘭 begin to demand ownership of our digital items, simply because they are ours.
We have: -rampant censorship -record money printing -historically low trust in institutions -stagnant wages -digitization of everything -COVID restrictions -terrible interest rates -unaffordable housing -constant bailouts for banks -coin shortages & more playing into this.
This is why I am certain that Gen Z will be the generation remembered for crypto. In the past we had marches, signs, + protests but the people in power didn’t want to listen Now, we have cryptography at our disposal. They will be forced to listen.
Generation Z will be a strong force to reckon with. We were raised for this stuff. Legacy finance and big tech are not prepared. As always, I hope you guys enjoyed this mini-thread from the croissant. & thanks to @RaoulGMI for the inspiration to write this!