Millennial Discontent made the Crypto Revolution Inevitable

Chris Herd
5 min readAug 19, 2019

Bitcoin, Blockchain, Cryptocurrency, Ethereum all emerged to allow us to alleviate societal issues we are just now beginning to understand. That is something which too few column inches have been dedicated to but what I will explore and argue for in this piece. Maybe you believe me or maybe you won’t but I promise you that it will make you think and consider the broad economic consequences of what we are likely to face in our lifetimes.

There’s a reason this generation wants to reinvent money. Our own is being used as a weapon against us to strip us of our future prosperity to pay the bill for a party we never attended. That is the same economic prosperity every generation before us has been afforded by exponential population growth.

Can you afford to buy a home? Even if you can, what % of your salary does paying for it consume?

Is your salary enough to enable the economic wheel of progress to continue spinning?

The media has a simple explanation for our increasing propensity to voice our displeasure at participating in this society: greed and selfishness.

The reality is that we are disenfranchised. We are exploited with no real reward or light at the end of the tunnel to inspire our focus.

Previous generations were pulled into the middle class by mass-market revolution. Depending on how far you wish to go back, there are innumerable examples. 10,000 years ago the emergence of farming took away our concerns about food. 200 years ago seen the emergence of mass production enabling us to acquire consumer good far more cheaply. Electricity emerged, the internet grew.

There are no major innovations likely to emerge that we will be able to leverage into our own revolution.

Only crypto and blockchain

All of these have been funded by one thing — Debt

Mortgages, borrowing, lending have enabled humanity to collectively spend far more money than they had available. This leverage enabled by the fractional reserve system under with we operate, and the devaluation of currency due to inflation, is what has enabled the emergence of all progress.

Chris Herd

CEO / Founder / Coach @FirstbaseHQ Empowering people to work in their lives not live at work ✌️✌