Crypto Wealth: The Emotional Chaos of a Writer Among Millionaires

Crypto Wealth: The Emotional Chaos of a Writer Among Millionaires

Juan S. Guse, a German writer and sociologist, has dealt intensively with the world of cryptocurrencies in his new book “A Thousand Times as Much Money as Now”. Over a year, Guse met men who became wealthy through the digital currency market. He conveys this unique insight into the crypto scene using a mixture of sociological study, essay and novel that deals with the psychologies of crypto millionaires.

Guse, who was born in 1989 and studied literature and sociology, shows in his book the dark side of sudden wealth. He has won numerous prizes, including the Berlin Open Mike literary competition in 2012. In his previous works, such as the novels “Noise and Forests” (2015) and “Miami Punk” (2019), he already addressed the effects of new technologies on society.

Crypto millionaires and their world

The focus of his field study is on four protagonists, including Basti, a former hemp trader who entered the crypto world and temporarily reached a peak of 20 million euros. These men reflect the trend that most crypto investors are under 40 and often share the belief that wealth is just a matter of knowledge and research, which Guse sees as problematic.

During his encounters with crypto millionaires, some of whom are also known as “sleepers,” Guse observed that the external signs of their wealth are often not immediately apparent. These men would often undermine the way they handle money and the expectations associated with their wealth. A central feature of their thinking is criticism of the established monetary system, as they see Bitcoin and other cryptocurrencies as ways to circumvent capitalism.

A look behind the scenes

During his research, Guse experienced that conversations about cryptocurrencies often evoked negative emotions. He himself lost 2,500 euros in crypto investments after following the advice of one of his interviewees. This makes it clear that the crypto world also has its pitfalls and the expectations that many people associate with quick money are often not met.

The stories Guse tells are much more than just financial successes. They also address the social and historical inequalities that exist in the financial world. Guse stated that, for example, married women in Switzerland were not allowed to open their own accounts until 1976, which explains the cultural background for the dominance of male investors.

Guse's book is characterized as informative and exciting because it addresses the deviations in the lifestyle of the crypto-rich while offering amusing insights into their world. It is published by S. Fischer and consists of 190 pages. In addition to Guse, Ijoma Mangold also deals with the topic of cryptocurrencies in his work “The Orange Pill”, but from a slightly different perspective.

The crypto world remains a fascinating and often unpredictable terrain in which the stories of men like Basti and Co. need to be discussed and analyzed again and again. Guse has made a remarkable contribution to this discussion with “A Thousand Times As Much Money as Now” and shows the complex facets of digital wealth and the problems that come with it.

For more details on Guse's experiences with crypto experts, read SRF and NZZ.