Data Theory, discard the Bubble talks
Reading too much about bubble bitcoin economy? I got tired too, so i would like to share some facts from the point of data scientists. Not what I think, or what I like, just how it is. And here is how we stand:
- Every aspect of human activity especially industry relies on 'stem cells' called bytes, and products of their processing resulting in what we call 'data', or more precise 'structured data'.
- The dependence of data, built by these 'stem cells' is the third most important dependency factor of human kind. What's above is not gold, or money. It's food and water.
- 2.5 Quintillion of raw bytes produced every single day.
- This grows at the rate of 40%/yr.
In order to physically store just a single day of unprocessed data using the most advanced mediums, would need a space of all Egyptian pyramids. - just for a single day.
Some more facts:
90% of the these bytes is unstructured. According to analysis by Forbes, only about 30% of key companies in field of big data are successful in processing it.
Now, take in account that 10% of these random bytes that are managed to get transformed into data, have enough power to manipulate news, produce public opinion even elect a President.
Byte is just a stem cells, once processed, has ability to form an organ, and eventually an organism. If you are fan of Sci-Fi, or simply a Scientist, you can Read More Here.
Crypto Currencies are, and about to become a monetary note of structured data. Blockchain takes important role as the control mechanism to structuring, storing and maintaining data. If structured data is DNA, blockchain is RNA. A simple evolutionary side-effect formed due to inability to perform such amounts of structuring by a single entity.
Therefore, it's not about tulip-mania. It's something that's highly devaluated, and it's yet to explode if we are about to stick with the basic principles of economy.
The trouble with analysts saying opposite could, and most likely are affected by:
- Good knowledge of economy, but lack of understanding of computer science and theory of data.
- Simple propaganda, again caused by lack of understanding of theory of data. You can't reverse the evolutionary jump once it takes place. (Although my the Dinosaur disagree :)
Evolution is raw, precise and highly efficient process. You can fight it, as it managed to adopt to survival in much more hostile territories compared to governments who would like to control the blockchain.
So forget about talks about bubbles. The value could only raise, and the amount of current devaluation is easily to be calculated by the percentages and facts stated above.
The data is economy, and crypto-currencies are monetary note of that economy. The strongest the economy is, the higher value monetary note posses.
DISCLAMIER
Don't take this as an investment advice, as I don't know which currencies are going to survive this difficult process. What you can take as an advice, is that blockchain definitely will. But be aware there are many child diseases that could happen along the way.
nice post
Thanks Mate!
Certainly though we have gone though many bubbles in crypto, though its the argument over overall bubble that is tricky. I would argue that the December rise in cryptos and subsequent fall was a short-term bubble, yet it always seems to go higher long term. Just started following you, would appreciate a follow back if my content interests you as well :)
@weilii thanks for following. The very first hint I am about to give you, is to upovote posts you like. Otherwise, you look like a random spammer, who just want's to collect as many followers he can.
I am going to follow you, as you are new and I do thin it's important that we share experiences. However, try not to think just about getting followers by posting comments. I usually follow people who upvote content, not the one from comments, as they are likely bots.
Good luck on Steemit, I'll follow your content and try to share my opinion on things you write.
Thanks for the tip, I'm just getting the hang of this. I read somewhere there you only have 20 or so upvotes a day but read conflicting information on this.
Believe me, you don't need to think about that. Yes there are some limitations, but the best possible behavior you can do is: "upvote what you like, ignore what you don't". Not to get too much into technicalities, you are not going to lose anything, but you will be helping other members.
In this specific case, I don't benefit almost at all from your vote, but if you with credibility o 37 vote on something written by someone with 25, he is going to benefit a lot from you.
This way, we build a high-quality community. Earning is just a 'side effect' :)
You got mine on Your Post.
Glad to help with hints and make this a better place.