Crypto and how it’s relevant to The Big Short
One of the most important messages from The Big Short movie is that everything evolves. Over the course of a few centuries, the banking cartel has grown from small-time extortionists to a global cartel with the power to take down countries and manipulate economies worldwide. This has not gone unnoticed and many people have begun seeking a slow but steady exodus from the global fiat system.
The alternative, which came into the spotlight in the last decade is without a doubt cryptocurrencies. In just 10 years the global market cap of cryptocurrencies has reached billions of dollars and the growth seems to be just beginning. Bitcoin was initially advertised and sold as direct opponent of the fiat currency debt system.
Of course, with little to no global coverage, early adopters weren’t able to use the currency for anything, but things have drastically changed over the years. Bitcoin and some of the most popular altcoins like Ethereum and are accepted worldwide as payments for almost every kind of service. Recently, El Salvador was the first country in the world to also recognize Bitcoin as legal tender.
This is rapid growth is not only attributed to cryptocurrencies. Banks have unironically had a larger role to play. With so many people openly seeing the flaws of the current monetary system, it’s no surprise that people are beginning to look for alternatives. These flaws were well-known and warned about for centuries, but people simply did not have a viable alternative. Today, things have changed. With the Internet and ordinary people having access to information and the ability to educate themselves on finance, this newfound freedom of choice is bound to open up new paths.
The Big Short’s take on personal justice against the system might have greed as its driving factor, but the end of the money is a cliff hanger that can apply to almost everyone in today’s world. There are alternatives out there, and they are closer than we think.