The notion that the wealth gap can be closed is a pipe dream. The real goal should be rooted in the power of financial literacy, which doesn't exclude new asset classes such had digital assets and crypto.
On average, a black person's investment would need to 11.5X just to amount to the difference that a white person has available to invest with. From a group economics perspective, it's hard to imagine how we catch up when the capital and resources at our disposal pale in comparison. It doesn't matter what we invest in because the playing field has never been fair. Generational wealth has been syphoned from our ancestors in this country since slavery. From failed savings banks, to land being taken from us, from segregation to redlining to gentrification etc etc etc...
Now we're in the Age of Information and our people still arguing and shunning each other over which investment is better like it really fukking matters.
We can pull up archives about the FUD that was put out there about the internet when it was in it's infancy. I've come to the realization, that the convenience of normalcy enables ignorance to change. Just reading through this thread and the generalization of crypto from most of the anti-crypto posts in here illustrates that point perfectly.
The foundation for the next evolution of the internet is being created with blockchain technology. Web 2.0 was dominated by the centralization of our data by FAANG. This is why you see Zuckerberg come out and change the name of his company to Meta in preparation for what's next.Considering the difference between cryptocurrency and actual full-fledged internet corporations is that one is a shaky speculative asset and the other is a fukking company - I don't think this comparison makes a lick of sense
Web 3.0 and decentralization is where cryptocurrency and blockchain strive to disrupt how we use and monetize the internet. This is different than investing in a company, it's more like investing and funding the protocols that will be used to connect Web 3.0 applications and domains. We couldn't invest in HTTPS, HTML, FTP, Telnet etc... Now we can actually invest in the technology (not a company) that is already disrupting finance, and eventually everything else.
And if we take everything you said in this post and substituted it for any asset class that benefits from first movers advantage/early adoption the same would be true.
The disparity in wealth between Blacks and Whites has remained consistent for the last 70 years. Crypto only been around for like a decade, so obviously, if anyone is paying attention, the system isn't designed for us to win.
Real estate has been shifted and manipulated to keep the most valuable properties and land from us. Will we all ever have enough capital to buy valuable investment properties? Or will the current owners just pass it down from generation to generation? Does that mean that you shouldn't invest in real estate knowing that the game is rigged? No, of course not
The stock market is full of fukkery and bullshyt. It's the whales playground. Just like you listing shytcoin pump and dumps, the same can be done with fugazi companies and insider trading.
I say all that to say, for the most part, we aren't "early" on shyt. It's on us to identify opportunities and keep an open mind and gain knowledge opposed to contributing to division. Its fine to ask questions and seek knowledge.
But really, nikkas in here just dropping shytcoins and rug pull and hack articles need to do more research in this space.
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but hey can't save everyone
