“Time in the crypto space runs differently than it does in the fiat financial world.”
But what is time, really?
The passage of time is the most fundamental feature of the human experience, yet we are incapable of saying exactly what it is. Philosophers even argue whether or not time is real: “We can see a clock, but we cannot see time, so how do we know whether or not time is real?” In the sciences, time is usually defined by its measurement: it’s simply what a clock reads… we instinctively perceive time as moving forward from our fixed and immutable past, through the present, and towards an unknown and unfixed future. The clock is the physical manifestation of the “Arrow of Time,” a concept referring to the one-way direction, or asymmetry, of time. But time is so much more than when to get a Starbucks, eat Lunch, or celebrate a birthday. Einstein had a different idea on space and time, and it’s his revolutionary ideas in which we’re interested today.
“People like us, who believe in physics, know that the distinction between past, present, and future is only a stubbornly persistent illusion”. -Albert Einstein
Space and time: flexible concepts.
Since Albert Einstein published his Theories of Relativity, our understanding of time has changed dramatically: time is one dimension of space-time in Special Relativity, and space-time is curved in General Relativity. Einstein realized that both space AND time must be flexible and relative. There’s no “absolute” present that pervades the universe under Special Relativity: time is merely a coordinate specifying an object’s position in space-time. And, amazingly, the physics behind Einstein’s theories allow for time travel! This takes a leap of faith for the mind, to be certain, but most scientists and philosophers of time agree that time travel to the future occurs very frequently, and that travel to the past is also allowed by Einstein’s General Theory of Relativity.
Life in “CryptoTime”:
Life in “CryptoTime” is defined by the fast-forward, back-to-the-future, 24/7, and always-on-everything-connected Internet of Things era commonly referred to as Industry 4.0, or the Fourth Industrial Revolution. As a 24-hour market, cryptocurrencies give neither investors nor traders a day of rest… ever. The pace of innovation in this new era is both constant and exponential. Consider this: the average fiat stock exchange is open about 32.5 hours a week, while the average cryptocurrency exchange is open about 168 hours a week. Simple math shows that crypto markets are open about five times longer than traditional exchanges! Time is the great creator (and destroyer) of wealth, and in the case of crypto there’s five times more TIME for your assets to gain value. Although not exactly “time travel” as defined by physics, in a philosophy-of-money-way we can certainly say that, when we invest in cryptocurrencies, our digital monies travel through time-value.
Whether a well formed investment thesis or simply an instinctual response, it makes sense that millennials are shifting from traditional retirement investments and seeking alternatives such as cryptocurrencies. Millennials, by design, are instant adopters of disruptive innovations, and I can think of no innovation with greater disruptive potential than cryptocurrencies. According to one crypto analyst, “our parents had pensions, we have cryptocurrencies.”
It seems to me that, at a time when fiat currencies are worth less every year, the divide between the haves and the have-not’s is widening, and both geopolitical tensions and AI automation put into doubt our chances at a secure retirement, that cryptocurrencies represent our only REAL chance at creating the kind of wealth and future stability that we all desperately seek. And, considering the time(value)-travel aspect of cryptocurrencies discussed above, maybe we won’t have to wait twenty or thirty years to reach our financial goals!
Thanks for reading!
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