2 ms·
You're too entrenched in a labour-centric model to be able to see these problems have solutions at all, let alone that crypto might be able to provide them. Wh
by detrites 3y ago
You're too entrenched in a labour-centric model to be able to see these problems have solutions at all, let alone that crypto might be able to provide them.
When there's no labour to drive the economy, something else will be driving the economy. An economy, in it's purest form may be: a system that exchanges things, and also provides a store for latency in those events.
Note I'm saying "may be". We're talking about rewriting theory here. That is, we need to theorise, and hope we get it right, or at least come up with something useful.
Assuming that, what would be the value generated in a labour-less economy? Again, we can only guess at this stage, just as we could in the 90's about what impact the internet might have. Nobody predicted where we are exactly now.
The fundamental thing many can't seem to get past with crypto is that people involved in it seem to want to, and often-times succeed, in generating value for themselves, out of what's tantamount to nothing.
How people cope with this apparently alien concept (from the point of view of labour's value being an essential dogma), is to focus on all of the times that value was in fact generated out of others misfortune. (As happens also.)
But, it's not the whole story, and, misses the forest for the trees. You can type a sentence and create a beautiful work of art, or ask a question and get an answer that condenses years of knowledge into a reply. The same way an NFT creates money.
It's not necessarily always a "scam" that labour-less endeavour can create value now. It's where society and technology has been heading for decades. But it's a huge cultural, social, political and economic shift.
It is inevitable that such changes provoke visceral averse responses, suspicion, failure to understand, etc. This will likely go on for some time before the future emerges. Crypto pushing all these buttons is a good sign.
Doesn't mean it's definitely the future - but, is there another contender with similar disruptive characteristics in all the necessary areas? Only AI but as yet it doesn't have a transactional exchange or latency store for generated value as crypto does.
> If you look at that coin gecko graph and look over the last two years there has been no growth, regardless of the scale.
Look over it again, it does that regularly.
It's expected behaviour for a highly volatile asset to retrace its previous levels. The important aspect is that despite this, its linear and logarithmic trend are both constantly increasing across the time series.