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Existing technology business models will be adapted and re-launched as services which are coupled to cryptocurrency tokens. Also, we may see the rise of crypto
by cryptica 6y ago
Existing technology business models will be adapted and re-launched as services which are coupled to cryptocurrency tokens.
Also, we may see the rise of cryptocurrency communities which attempt to manipulate company insiders and governments to gain control of the proceeds of production to drive the value of their cryptocurrencies. Private property rights will be eroded (due to lack of enforcement and increasing systemic corruption) and so cryptocurrency, which offers a cryptographic means of ownership (which does not rely on law), will gain increasing significance.
The proceeds of production will no longer go to shareholders, they will be diverted to cryptocurrency holders. The shareholders who embrace this mindset of moving profits to cryptocurrencies will see their ownership stake of company profits increase at the expense of those who resist this shift. In the end, nobody will want to own stocks since they will no longer yield profits. Corporations will behave like non-profits; the profits will be funneled to cryptocurrencies.
All of this will be completely legal and almost everyone will support it. In 10 years, this will be completely obvious.
We are in a post-scarcity economy. Wealth creation will have little to do with productivity and everything to do with redefinition and redistribution of existing ownership rights. We will see cryptographic ownership rights surpass legal ownership rights. Once this new, highly fluid, decentralized financial infrastructure is firmly in place, the transfer of wealth will end up facilitating a new wave of massive decentralized productivity with a stronger focus on social principles.
- cryptica 6y agoIf you're downvoting this, you are probably missing the fact that this already started. Ethereum has already managed to infiltrate many companies and these companies already started diverting some of their profits to buying up Ethereum. Even Reddit is getting into Ethereum. This is just the beginning.
- biolurker1 6y agoHN crowd has a lot of crypto deniers. The funny thing is that HN leaders like literally PG, Googl Bosses, Zuck and Marc Andreasen are very bullish on it. So it doesn't take much to realize who is right
- KozmoNau7 6y agoLike the rest of SV, they are blinded by hubris and their own blindness to the downsides of tech. Crypto currency is a disaster.
- biolurker1 6y agoYou mean you know better than everyone that has been extremely Successful right? OK :)
- KozmoNau7 6y agoSurvivorship bias is a real thing, and very relevant when discussing tech magnates.
- biolurker1 6y agoIf you want to make this argument it should also hold for everyone. Einstein was lucky, Newton didn't get killed by accident etc. But if you are in denial you can make a lot of arguments.
- cryptica 6y agoI got into crypto because of all the problems which technology companies and governments created which made it impossible for me to succeed in the mainstream tech industry. Crypto industry is no walk in the park, but I can speak from experience and say that success there is definitely possible. I would think that people like Mark Andreessen and Mark Zuckerberg have a pretty good view of what's wrong with the current mainstream tech industry given that they have been directly benefiting from its flaws. Even if they had come into their situations by accident, by now they would have figured out what's going on and that would make them bullish on crypto. I don't think these people have much ego when it comes to business; my experience is that they will switch sides at the flick of a switch and follow the money as soon as it's profitable.