Cryptocurrency Is The Answer

in LeoFinance3 years ago

There is a lot taking place in the world of cryptocurrency. We are seeing things advance at an accelerating rate. Anyone who scans the crypto-media headlines knows it is hard to keep up with all that is occurring.

For those who are in the industry for a while, it is a wonderful evolution.

We are aware that an alternate financial system is being established that is going to penetrate everything. It is unlocking a host of possibilities, many which are not created yet. Essentially, we see the entire state of society looking at receiving a tremendous upgrade.

The key will be, ultimately, solving real world problems with cryptocurrency. For the moment, we are still looking at infrastructure being built. There is also the fact that not only does the establishment refuse to look toward cryptocurrency for the answer, it is outright hostile to what is taking place.

Nevertheless, there are a few who see the light.

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Massively Expanding And Adjusting The Economic Pie

Cryptocurrency can do something that never was done before. It can create money out of thin air.

Obviously that statement is not exactly true because we know the fractional reserve system can do that. A better way of putting it is that anyone can create money out of thin air.

For example, the other day we covered the fact that New York City is introducing NYCCoin. This follows on the heels of MiamiCoin.

Why is this big news? Simply looking at the numbers should answer that question.

Here is the shot of the MiamiCoin wallet taken the other day.

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Now we can see the change in the span of a couple days.

miamicoin.png

MiamiCoin Wallet

This is now worth more than $20 million dollars. Those who are mining the token also are receiving the payouts. In addition, the City of Miami already took converted more than $5 million worth of tokens.

In other words, this is a money printing machine. Now, New York City is going live, followed by Austin, TX. Imagine what things will look like in a couple of years when there are a couple dozen cities doing the same thing.

Of course, we can compound this thinking by looking at all the different projects that can enhanced by cryptocurrency. As the total pie grows, we see the ability to readjust how the pie is divided up.

The Changing Face Of Wealth

Wealth is changing. This is something the establishment, and even many inside the cryptocurrency industry, do not realize. What was valuable at one point in history might not be the case in the future.

For example, there was a time when royalty ate off aluminum plates. In that era, this was worth more than gold. How can that be with the former is so plentiful? While it was abundant, the separation process made aluminum very rare. Of course, once we could smelt it, that metal because worth a lot less.

Could we be seeing a similar transformation with Bitcoin? We just get news that Grayscale's Assets Under Management (AUM) surpassed that of the SPDR Gold ETF, the largest in the world. While not exactly an apples-to-apples comparison, it does show the interest that digital assets are getting.

Cryptocurrency is opening up a host of possibilities that will enrich billions of people. NonFungible Tokens (NFTs)* are just starting to gain some traction. Over the next 5 years, this single area is going to radically alter what people hold as wealth. We already see some pieces sold for enormous prices. Is it a bubble? Perhaps. However, keep in mind that out of bubbles comes legitimate industries.

Eventually, NFTs will represent a great deal more than just JPEGs on our computers. It will have ties to all real world assets.

Solving Real World Problems

Cryptocurrency offers the opportunity to solve many of society's problems. The reason for this is, at the core, a large number have to do with money. Simply put, there is not enough money spread around to handle everything.

Homelessness is a prime example of this. Obviously, many who are in this position have mental health issues, so it isn't all financial. Setting that aside for a moment, the fact there are not the resources to keep a roof over these people's heads can be solved by cryptocurrency. If a person can get involved in cryptocurrency, or a project handles that for him or her, we can see a radical change.

Of course, financing of mental healthy treatment along with research can also be done with cryptocurrency.

Another situation is the view that automation is going to cause many to lose their jobs. Naturally, when one has the ability to generate incoming monies through activities that are rewarded with cryptocurrency, we see a new paradigm forming.

Will everything be solved with cryptocurrency? Of course not. However, if we look at many of the discussions, we cannot help but to see how money tends to be at the core of a lot of issues. Even if it is for funding, that is something we can solve.

This all takes on another meaning when people grasp the concept of the network effect. It is a phenomenon that does exist in the real world yet is on steroids when attributed applied to the digital realm. We see this with big tech and why they have such enormous valuations. The value of the networks with so many active people is incredible.

Cryptocurrency is able to leverage this same concept. As more people get involved in different projects, the impact is equally exponential. There are many different directions that projects can go in, generating more use cases. All of this ends up combining the impact, leveraging the success in one area against another.

There Is Always Something New

The biggest difference between cryptocurrency and the existing monetary system is that we see there is always something new. Cryptocurrency is based upon innovation. New ideas are being expanded into projects each day. As this happens, opportunities are created that individuals can participate in.

Shiba Inu is a prime example. Perhaps it will end up as a worthless meme token. Nevertheless, even if that is the case, it will generate a great deal of wealth for some people. A few months ago, this was not on the radar of many.

There will be millions of Shiba Inus created over the next decade. While many of them could end up as nothing, there will be major projects that break through. After all, when the World Wide Web was created, there was no Facebook, Twitter, Google, or Amazon. These companies were formed after the fact.

Cryptocurrency, along with blockchain, is going to see a great deal more innovation.

While the present system does evolve, we see the same basic structure that existed for many decades. This is not changing. The introduction of the NYCCoin, a few months after MiamiCoin, shows how we have constant innovation.

Perhaps, when most of society is immersed in the world of cryptocurrency, we will not see issues such as the pension or retirement crisis. Think about what government officials, both bureaucrats and politicians, talk about the most and see if cryptocurrency is a large part of the solution.

The potential to solve many of society's problems is before us. Cryptocurrency is the answer to a great deal of what ails it.


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well, I am not that sure about it.
printing money out of thin air is usually not the best idea😶
the whole thing reminds me a chair game:
X participants and X-1 chairs. there will be losers in that game, I just hope it is not gonna be me ;)

Digital assets are based on the actual value use case, fiat is more based on the political climate and public opinion. This is why Fiat is always in danger of crashing.

Exactly, cryptocurrency represents actual value of some kind, the really hard thing to grasp conceptually what that value is. We are so used to delegating value to a monetary value. What is interesting is is how highly we value fashion, trend and a sense of being ‘in the know’ but let’s be honest those are real cultural values that we really do value. Doge.

Those are good points. At one time in Rome Salt was used as currency. Back when the Greek island of Crete was at its economic best the fashion of the day dictated that women should dress with their breasts on the outside of their clothing, in fact, the dresses were designed with this in mind.
I am waiting for the day when Fiat or cash is as old-fashioned, as using salt for currency.

Digital assets are based on the actual value use case...

Not in most cases. What is the use case of Shiba Inu.

And fiat is based upon the productivity of the economy using that currency. When you look at the USD it has the strongest network effect out there in the non-digital world.

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My mind is blown, that is right there are a lot of useless "meme tokens" out there but they do not even make it on my radar because You, and Jon Olson, also Blain Jones, have taught me to look for crypto that has a good "Use Case"
This is why I am thankful for Hive, and marvel at how this opportunity will not slip through my fingers.
I feel like we are on the cusp of something that great, I do not at this point have the words, but we all get a little bit better everyday :-)

That view misses all that is taking place. Think of how far we came as a society in the last 100 years. Consider all that you can buy now that didnt exist 100 years ago.

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it doesnt matter what we can buy now that didnt exist 100 years ago.
printing "money" out of thin air makes it less and less valuable. that's a well known fact :)

while that is true for fiat money, it doesn't seem to necessarily apply to cryptos (look at all the inflationary coins which have increased in value)... but it's a long term experiment

That is because it is not true for fiat either. It could be in some cases but it is mostly because people refuse to look at what is truly taking place.

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Then explain Japan.

They printed money out of thin air for 25 years and had a deflationary spiral.

Seems your fact is completely wrong.

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time will tell who was right 😁
I hope it was you. good luck👍

Cryptocurrency cannot be overlooked neither can it be ignored in the long run.

It appears that we've been offered a chance for a new change.

The financial system of the whole universe is changing and each day new things keeps rolling in to better people's lives through the use of cryptocurrency and printing money out of thin air.

What's happening is a big world revolution and nothing can stop it from where I see it.

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That is true about the financial system changing each day. The network effect of cryptocurrency, as more people get involved, is pretty amazing.

The fact that it will, at some point, interwoven with almost everything is where the real magic happens. For now, we keep building.

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Nft i believe will be the next big thing in the crypto verse.

Alot is happening and it's very exciting to watch and learn.

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Next? It's already a HUGE part of everything!

You are right.

I'm just seeing a even brighter future when things start to get more exciting in the crypto world.

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Well it is a thing but the HUGE part is likely the bubble.

It got ahead of itself. A lot of this stuff that is speculation only is going to cause major fallouts. Hopefully the industry expanded enough to handle it.

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It will be once the bubble pops. The real innovation has yet to take place.

The other one that might be the thing to watch is DAOs.

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Just imagine if all cities or even countries in the world follow suit. It may take time, but those who are open to the possibilities crypto can create and jump on board will surely benefit in the long run.

I would venture to say that, over the next couple years, if these first cities keep generating money for their treasury, it will spread like wildfire.

There will not be a city out there that does not want to get involved.

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That's really an exciting possibility. Would be awesome to witness it happen everywhere. How good it is to think that every citizen will benefit enormously.

What I find exciting about Crypto is that it is creating more level playing. Can't wait to see how the crypto world evolves in the next 5 years.

I am not sure about level. It is more inclusive. The playing field is still not level, nor was that ever promised in life.

People can get involved, that is what matters. What they do with it once in, that is up to them.

But we see people complaining on Hive about how unfair it is and how people were "lucky" to get in early.

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Those are the mass complainers. People have nothing to say, this makes them feel stupid so they complain.
I am not a religious person, and I don't quote the Bible, but I will bring up a story. The Israelites have crossed the Red Sea, at this point they witnessed an amazing set of miracles. They wandered the desert, every time after a miracle there is a pause and then the complaining starts. (even though all their needs were met, they complained)
I like this example for business. Regardless of how good the package is (some people) will always complain. (normally it is that 10% that ruins it for everyone else)
I enjoy your posts and comments because your writing forces my perspective to shift. This is where I experience the most growth.
Thanks for taking the time to teach me :-)

No doubt money or the lack thereof is certainly at the core of many problems in society. I love the idea of using Crypto currency to fund mental health treatment and housing for the homeless. And I am willing to bet that some of the homeless people, once given the chance, can come up with some innovations of their own in Crypto and further improve their situations.

And I am willing to bet that some of the homeless people, once given the chance, can come up with some innovations of their own in Crypto and further improve their situations.

Of course they would. Not all of them have mental issues although many do, especially when they mix drugs and alcohol in. However, people can often change once given a chance.

And I know many drunks are highly intelligent people if they dry out. Hell, it is hard work and requires a lot of creativity to be an active drunk.

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Eventually, NFTs will represent a great deal more than just JPEGs on our computers. It will have ties to all real world assets.

This is our real trojan horse. I don't know how it will begin, if it hasn't already, but once NFTs start getting into things like car titles, deeds, birth certificates, the stuff we register via government we'll see things start to happen fast, but I wonder how it will manifest.

There was nothing that stopped me from using Circle Pay or Cash app for my banking or financial needs, but one isn't just going to upload their newborn's birth certificate to Facebook META Baby Registry and call it a day while Uncle Sam bows out gracefully.

How do you think this could play out on the ground this time around? Obviously, the courts are about to get even more congested with cases to be made, but what are some of the cases that are likely to get big wins or losses history will remember?

Will a citizens challenge taxes for services the government is charging for even though we're getting them cheaper elsewhere?

Will it be a business that gets a service blocked because it competes with government?

Who will be impacted first?

You bring up a lot of questions that creating some interesting mental gymnastics. We could get into the philosophy of what will take place and it would be interesting. The reality is that it all will be different no matter how it unfolds.

The bottom line, to me, is people will have more options. That is what will radically alter the power structure we all suffer under.

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Even Shiba INU can still be reprogrammed to create a solution that will surprise everyone, this is the power of this space, there’s no limit to the collaboration of ideas, and since everything is programmable, things can change. Network effects from communities can go a long way.

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It could be although that is not like when the speculation is so high and that is really all people care about.

Sure there might be applications built but if the price crashes, then it makes it hard for it to be taken seriously and utilized.

Look at how people now view EOS which was not a pump token but without the development, few have faith in it.

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Cryptocurrency finally makes the act of printing money and distributing wealth accessible to almost everybody, not only governmental powers.

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Yep. They are opening the door to everyone. What people do with it will be interesting. There is no way to know what people will come up with in the next few years.

It is going to be exciting. I am sure that there is an idea we will not see for a year or two that, once it arrives, will knock our socks off (perhaps more than one).

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I am going to have to dig into that city coin thing a bit more. I still don't quite understand it I think. Who actually does the mining? People all over the world? People in the city? Or the municipality itself? Maybe I am just over thinking it. It's interesting to see all these crypto tendrils snaking out and finally starting to take hold in different areas.

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Who actually does the mining?

Anyone who wants to. There is a button on there to get yourself set up to mine.

Visit the site and nose around. It only takes a couple minutes to get the gist of what they are doing.

And all are going to follow the same pattern.

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Okay, cool.

Now we need to see whether or not NYC coin will keep it's price. After all if everyone starts printing something similar, the amount of funds people can take out will be limited. So every one of these coins needs a way to stand out and I think a use case is the next step.

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The coins can be staked for Bitcoin, just like MiamiCoin.

Now the value could drop, especially without use cases. That is why it is vital for them to start to develop that.

I have a feeling we will see applications that accept all the city based coins and can add value to them all.

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No one can predict where this is all going to go but we can react based of what has already happened.

The fact is there are lifestyles being created daily that never would have exisited before and i really don't see that stopping everyone is getting into crypto now.

Some people by force, some by necessity, some for other reasons, i don't even think the real bull rush has even happened yet just previews lol