"Bitcoiners are stuck in an unhealthy relationship with cryptocurrency, and we want out!" — Michael Saylor

The Twittersphere was enlightened by a flash of insight in the middle of the chaos caused by the FTX issue. The remarks of Michael Saylor were the signal in the noise that resulted from the malfunctioning trainwreck that was unaffectionately referred to as "crypto." Before we can appreciate his ideas to their full potential, we need to first reflect on the factors that contribute to the dysfunctional nature of this connection, also known as a toxic relationship in the context of couples therapy.

While many people in the cryptocurrency industry were happily going about their lives viewing their relationship with money (trust, commitment, support, etc.) in a positive light, they were ignoring the warning signs that their relationship was anything but healthy. While they were doing this, many people in the cryptocurrency industry were ignoring the warning signs that their relationship was anything but healthy. It's true that even the healthiest partnerships experience their share of ups and downs. Disagreements are inevitable, but you both work toward the same objectives and have faith that the other person has your best interests in mind. Your spouse is expected to support you, communicate in an open and honest manner, and refrain from dominating behaviors. This is one of the expectations that comes with being in a committed relationship. Living in this manner is liberating, and it enables you to thrive more often than not.

But what if there's a possibility that one party doesn't have your best interests in mind? What if they are not being truthful? What if disregarding authority becomes a habitual practice? What if they don't care about your requirements? Even while you have reason to hope for things to improve, you may still be experiencing feelings of exhaustion, tension, anxiety, or depression. At some point, you'll want to leave. Your desire for a happy and healthy relationship has become more important to you than the security provided by the one you have today. The first thing that needs to be done is to acknowledge that there is a problem. It is vital to recognize the indicators of a relationship that is unhealthy.

The Telltale Signs of a Harmful Relationship
Support can be communicated to us in a variety of different ways with reference to our relationship with money. Trusting that the other person has our well-being and interests in mind is one of the ways in which we are able to provide support for one another. The fact that the cryptocurrency industry, which in this context refers to anything but Bitcoin, is still mainly predicated on the assumption of trust is the primary source of the majority of its problems. Whether it's FTX, Celsius, LUNA, or the countless other scams and Ponzis that are sewn into the fabric of the cryptocurrency industry, it's clear that having centralized entities control your value requires you to trust the fallible seamstresses and their incentives. This is the case regardless of whether it's FTX, Celsius, LUNA, or the countless other scams and Ponzis that are sewn into the fabric of the cryptocurrency industry. It's a lot like the trust fall, which is an activity in which one person lets themselves fall without trying to stop it, and instead relies on their friend or friends to catch them when they hit the ground. How many times do you have to get back up off the ground before you start to lose trust in yourself?

The recent fallouts in the cryptocurrency industry continue to shed light on the fundamental dishonesty that is baked into its core. It's a sort of dishonest communication based on a lack of transparency and the over-leveraged nature of transactions, and it gives investors a false sense of security in the partnership. When individuals are given control over money, it paves the way for controlling behaviors to be programmed into the system. This, in turn, leads to an increase in animosity within the partnership. When the toxic person in the relationship prioritizes their own requirements over yours, the strain on the connection only gets worse. The requirements of some CEOs frequently motivate them to take advantage of the trust of their clients for their own personal gain. The bitcoin sector is becoming increasingly accustomed to the presentation of unethical and risky financial practices like these (again, non-Bitcoin-only entities). My dad always said that at some point, "we need to separate the wheat from the chaff," and that time has come.

Fixing a Harmful Relationship: Step-by-Step Instructions
The first thing to do is take responsibility for what happened. It's not that you were the one who manufactured the issue per se; rather, it's that you've recognized the predicament you're in and have started advocating for yourself. Investing in oneself is one way to accomplish this goal. In the context of this article, an investment in knowledge about Bitcoin and an understanding of the unintended consequences of adopting a "digital fiat" mindset are both essential. This thinking is prevalent throughout the altcoin and centralized exchange businesses. Once we make the transition from blaming others to understanding them, we give ourselves permission to start the healing process. The suffering that has been caused by the most recent events will continue for some time, but it is our duty not to wallow in the mistakes of the past but rather to move forward with compassion. The next thing you need to do on the road to recovery is give yourself permission to be vulnerable again. Sharing your self-love with others, being calm and clear when describing the benefits of Bitcoin, self-custody, and proof of reserves to friends and family is one way to achieve this goal. Sharing your self-love can also help you achieve this goal.

Finding assistance might be helpful for individuals who are healing after being in an unhealthy relationship. According to the author's point of view, people who use bitcoins ought to form that support structure. It is odd that many Bitcoiners are labeled as poisonous ones while they are the ones attempting to shed light on the inherent toxic nature of the ecosystem. In light of this, it is important to remember that saying "I told you so" will not help the healing process. Now is the time for us to show compassion in our leadership and rise above the situation. It is important for us to make room in our hearts for other people's growth and healing while we do so ourselves.

There are going to be a lot of people who aren't going to be able to recover from such a toxic connection. Even while we are able to continue educating from a place of humility, we must keep in mind the proverb, "You can bring a horse to water, but you can't make it drink." Everyone will eventually recover, but it will happen in their own unique way and at their own time. Some people might never get it. We have probably all had at least one buddy who has moved on quickly from one unhealthy relationship to the next. However much you may want to help, the person in need must first make the decision to seek assistance for themselves. Even more, there are going to be some individuals who will continue to "Tinder around" with toxic relationships using bitcoin. That is completely up to them to decide. It is none of our business if one of our friends wants to participate in the culture of one-night stands. They are forced to deal with the repercussions of STDs and other related conditions.

It is imperative that we continue to promote the numerous advantages of Bitcoin in a good light, regardless of the measures taken by certain exchanges or the cryptocurrency industry as a whole. Explain to them how the lack of trust might lead to the discovery of the truth. Show how true decentralization can ultimately lead to unadulterated democracy. Explain how immutability and permissionless systems make it possible for society to flow freely and cooperate with one another. Michael Saylor has a keen awareness of the toxicity that is being allowed to proliferate as a result of the apparent relationship to cryptocurrency. For the sake of ourselves, our friends and family, and ultimately for the development of society as a whole, we have to make the decision to move toward a standard for bitcoin.

This is a post that Tim Niemeyer has contributed as a guest. Opinions expressed are entirely those of the author(s), and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.