Cryptocurrency: The Greatest Generation Of Wealth In Human History

Many feel that cryptocurrency is worthless. There is a sentiment out there that it has no inherent value and is nothing more than a scam. This resembles the talk track that was prevalent during the early days of the Internet.

Yet, to date, the global network of computers might be the most powerful creator of wealth in human history. Certainly, Amazon, Google, and Facebook are all Internet companies that were, at one time, worth over $1 trillion. That doesn't even factor in the Chinese counterparts, which were some of the largest entities in the East.

It is impossible to imagine the wealth that was generated by the Internet so far. Whatever it is, it might be mild compared to what is about to come.

Cryptocurrency is going to set off the next evolution of human wealth, only orders of magnitude larger.

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Digitization Taken To The Next Level

Most are aware that we are embarking upon what is termed Web 3.0. While we can debate what the characteristics will be and how it will look, we cannot counter the fact the Internet is undergoing a revolution. It is the early days but the next generation is upon us.

We can surmise the "new Internet" is going to have a much different medium of exchange, ownership structure, and utility. Just like Web 2.0 was a marked difference from the early days of static webpages and one-way text communication, we can be certain the next iteration will be as equally stark in comparison.

This means a lot more wealth.

We also have to understand the potential for disruption. Few of us were aware that an online bookstore was going to decimate the entire retail sector. Yet that is exactly what Amazon did on its way to becoming one of the largest companies in the world.

It simultaneously made Jeff Bezos, for a time, the richest person in the world.

We know this is par for the course. Larry Ellison, Bill Gates, and Steve Jobs are just some of the names of billionaires who achieved it through technological development. Of course, there were many others who were right there with them, such as Paul Allen and Steve Wozniak.

The difference is that cryptocurrency opens the realm of participation. Today, we have people in nations such as Nigeria who are accumulating holdings in particular projects. If some of these end up being 1/10,000th of what those other companies were, we are dealing with life changing money for thousands of people.

Multiply this across the entire spectrum.

The Ability To Monetize Anything Is The 9th Wonder Of The World

Many call compound interest the "8th wonder of the world". If that is the case, we are seeing the formation of the 9th.

The ability to put value to work is immeasurable. Some credit Michael Milken, the former junk bond king, with ushering in an organizational change that set off a huge amount of economic growth. By getting the assets of traditional businesses into the market, it set of an enormous productivity surge.

Just think of the vast potential of tokenization. We are about to set off another wave of economic productivity simply by monetizing anything and everything. This will results in markets forming, capital that is suddenly available for other revenue producing prospects.

Today, it is difficult to distinguish the economy from the financial sector. The pretty much are the same. Through financialization, we unleashed an economic powerhouse that has seen GDPs around the world move to all time highs. Unfortunately, the growth rates are slowing for a variety of reasons. One of them is the inability for capital to be properly allocated.

Cryptocurrency solves this problem. It simultaneously brings money creation and intermediation to the table. The key difference is it separates the two. At present, the money creators and intermediaries are the same: banks. These for profit institutions allocate money where and when it is most profitable. Since they are responsible for both, this forms a barrier to providing resources when and where they are needed.

Monetization through cryptocurrency radically alters this path. We are starting to see the infrastructure in place which will allow for the development of platforms to leverage this. We could easily see 100x growth in under a decade.

A rising technology built upon another rising technology is sure to have a compounding effect.

Holdings Of The Financial World

Being a technology, it is no surprise that cryptocurrency is moving in alignment with large, publicly traded technology firms. This is one area where we can project future value.

There is another that is equally as impressive. If we look at the major financial companies around the world, their holdings are enormous. This is an area that cryptocurrency, along with blockchain, is going to disrupt. Consider the wealth that banks, hedge funds, and insurance companies all have. The numbers, if we added them all up, are truly staggering.

Fortunately, that is available to all of us. Decentralized Finance (DeFi) is already showing its merit. Certainly, we acknowledge the early stages of the process. However, we can see how the ability for open participation along with the decrease in friction can radically alter the wealth landscape.

Just think of what the growth rate has to be for DeFi to reach tens of trillions in holdings. Now consider who the different players will be in that arena. The reality is that people who will be using Web 3.0 applications will, by default, be involved in DeFi.

This would be akin to everyone who uses Facebook and Youtube being a part of the hedge fund and banking industries. The amount of wealth that would generated if that were the case would be 3x or 4x higher than it is now.

With cryptocurrency, this is going to be possible.

If we feel the changes the Internet brought about were impressive, we have to believe that the next generation will continue this path forward. Digitization is not something that is going to stop. With cryptocurrency, we now have a way to monetize what is taking place natively.

This is going to result in a radical transformation for society. Like most paradigms shifts, the resulted in the creation of enormous sums of wealth. Unfortunately, the distribution throughout history was rather poor.

With cryptocurrency, this is not going to be the case. Everyone is going to be participating in the DeFi world which is going to unleash a massive wave of economic productivity.


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Cryptocurrency is the reality of the time. While there are many people who still think of it as scam, there are many others who have firm belief on it. Covid period brought a lot of people to realize its reality.

I don't understand one thing, how crypto would ensure equal distribution of wealth or equal opportunities for everyone. There are people who have more funds to invest today while there are others who do not have much to invest. The future power of crypto would lie in the hands of those who would invest more. They stake holders can affect market however they want.

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There is no thing as equal distribution of wealth. People need realize that there are many factors based upon variables such as input, timing, effort, and success of ideas. If you believe everyone in the world should just be handed something, then crypto is no more the answer than the existing system.

As for equal opportunity, get a Hive account and you can do what you want on here. You can get involved in different project/communities (or start you own) and become a whale. If enough people are interested, you will come out way ahead.

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that is the big difference with Cryptocurrencies it has the potential to change lives and in many countries of the world. We hope that Web 3.0 will give us that little push that is missing to become the true revolution

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Web 3.0 holds enormous potential. People simply need to start to realize that getting involved will pay off in the long run. This is something that I dont think people understand at this point.

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It sure feels like cryptocurrency can be a real cataclyst for wealth creation if you participate and try. It's such a new industry so it's hard to know what will actually thrive and which blockchain project wont make it.

I hope that Hive will actually be a big part of this

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That is true. Participation and effort are required. I will also add in consistency.

Too many expect things handed to them. It doesnt work that way.

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The ability to put value to work is immeasurable.

This is a point worth letting to sink in for a moment as we evolve towards a digitized world where entry point is open to anyone will to tap into owning a piece of real estate fractionally.
These are not mere wishes we are seeing the transition towards tokenization.

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It can add a layer even to the existing equity layers. Call it social or whatever, but the idea of community that can becomes an economy is very powerful. This is something that is not well known at this point.

In a few years, it will be abundantly clear.

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Good thing this wealth generation will have no gatekeepers. It'll be accessible to everyone, you just have to play your part.

I think cryptocurrency will greatly help in redefining what money is really about.

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Well we can bet on the idea people will try to be gatekeepers. This is something that might be just part of human nature at this point. Either way, we know people want control and crypto is no different. There will be those who try to harness this industry (we are already seeing it).

The key is going to be building things out more and expanding what is taking place. That is the phase we are in now.

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It baffles me how some people still think cryptocurrencies are a scam. Some even go as far as labelling crypto as a “ponzi scheme”. I believe these are all actions of people who have made up their minds about crypto and have refused to do any sort of research into it. Why else would people still ignorantly think like this?

People just have a hard time grasping the simple concept of digital currencies. My best explanation to them is normally that crypto is that one bag of rice you’re keeping now to sell at a higher pricer, but on a blockchain.

The world is shifting its focus from fiat to digital currency and more towards web3 with every advancement of internet. Whoever gets left behind has lost the future.

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People tend to listen to the wrong people. For this reason, we see people led astray.

Cryptocurrency is not going away. It is native to the internet at this point. Thus, as more applications are built out, people will soon realize the power that exists.

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People tend to listen to the wrong people.

In my experience from what I see around this part of the world, most people are just ignorant, won’t research on anything they don’t already know about but jump to conclusions faster than the flash.

Cryptocurrency is not going away.

This another thing that a fear and greed index below 10 will make even informed people forget. The prices we see at the bottom or close to the bottom of a bear market scares not just ignorant people, but newbies to the world of crypto into thinking crypto might be going away. YouTubers capitalize on this with their “Bitcoin is going to Zero! watch this!!!” Content for views.

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Nice. For balance what do you see as the potential pitfalls or drawbacks as we move towards Web3.0? I speak as someone who has been involved in crypto since 2015, and while I embrace the positive aspects of crypto we are seeing it move further and further into a space which would have been the antithesis of what crypto stood for originally. Now we are talking about the metaverse, putting your banana on the blockchain.... human's on the blockchain?... (human rights, trans rights >> trans-human rights?).
Like any technology it can be used for good and bad, so we need to able to call out the bad aspects too in order to avoid walking ourselves into a technocratic hell-scape.

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One of them is the inability of capital to be properly allocated.

Thinking about the role of interventionist policies in this capital misallocation.

At present, the money creators and intermediaries are the same: banks. . . . Since they are responsible for both, this forms a barrier to providing resources when and where they are needed.

Indeed, this is a great barrier!

This would be akin to everyone who uses Facebook and Youtube as a part of the hedge fund and banking industries.

This is good news that we must share with everyone.

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I think crypto has a lot of potentials but most of the projects tend to be shit. So I feel that is one reason why people don't really like even talking about crypto.

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I’m positive on the outlook of things like this in crypto but I’m also hesitant. The phrase “be careful what you wish for” is something that certainly comes to mind. Yes there will be widespread crypto adoption. What will also come with it? That’s going to be something we have to watch out for. These companies will not let go of control easily. I’m hoping the sheer scale of the challenge will be too much for them to try and manipulate and control. That’s what gives me hope, while at the same time pause.

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