Age Of Abundance: How Big Will Cryptoeconomics Be???
Most of us have a difficult time understand automation. Sure, we can grasp an auto factory that use to employ 30K people now has 5K due to automation. However, the idea of algorithms running everything is something that few can comprehend.
We are most certainly moving into an age where automation takes over. Some will still try and debate this point but, from my research, it basically is a done deal. Machine learning, along with other facets of AI, are advancing at incredible rates. While still in the infancy stage, these technologies will quickly "grow up". By the middle of the next decade, we will see things very different.
It is easy to lose sight of how things change. Consider the fact that the Steem blockchain is only a bit over two years old. Consider all the ups and downs yet it is about 27 months since the blockchain started doling out tokens. Imagine where this will be in another 27 months. Do you think things are speeding up? I do.
When I look at the development since the start of this year, I realize the growth rate in this department is astounding. Give the incredible developers on here another couple years and who knows what applications we will be using.
This is true for the entire crypto-economics world. We are in a very young industry. The first crypto-economic system is less than 10 years old. Most only appeared in the last few years. You know things are on fire when there is so much development yet something 5 years old is ancient. That is what we are seeing.
We get bombarded with a ton of FUD each day from the mainstream media. Most of us are aware they are nothing more than hired guns for the establishment. Crypto-economics is not good for those in presently in power. It is for this reason that there is such a massive backlash. If this industry was not a threat, it would simply be ignored.
So what does the future hold and why do I believe that we are entering the Age of Abundance? Why will crypto-economics provide solutions to problems which look dismal?
Presently, we cannot comprehend the amount of wealth that is about to be unleashed on the world. In fact, picturing all the different ways we are going to be automatically making money is beyond us. Most of us are still tied to the scarcity system that we were forced to endure our entire lives.
I will give you an example. We all heard about mining of cryptocurrency. Early in our industry, this was a viable way to anyone with a PC to earn some money. Of course, we are well aware of the fact it quickly moved from that to the stage it is today. With Bitcoin, at least, it now requires very expensive equipment.
What if we got back to the point where everyone was mining stuff? How would this change the future of humanity?
Imagine a day when everything with a processor in it mines cryptocurrency. Does that sound outlandish? Is so, then this might change your view.
A Singapore company has equipped a fleet of electric vehicles tied to the blockchain to mine while they are being driven. This is done in an effort to reward drivers for offsetting the effects of carbon emissions.
As reported by CyClean, it is an operating business that has recently concluded its ICO and is preparing to launch an e-bike and domestic solar panels, adding to their range of products that mine the CyClean Coin (CCL), platform's native cryptocurrency. The CyClean team announced in August that a CCL/USDT trading pair is now listed on HitBTC. As per CoinMarketCap, CCL is the highest trading ICO token on HitBTC, after the established cryptocurrencies and altcoins, at the time of reporting.
They are preparing to launch an e-bike and domestic solar panels, both which will mine the coin. What a breakthrough that could be. The solar panels on the roof of your home mine cryptocurrency day and night, earning you money.
In this light, does it seem so outrageous that everything with a processor could follow suit. There is nothing that says appliance manufacturers do not create something similar. In fact, for those that align themselves with Cyclean's goals, they might be able to mine that coin.
My point is there is no end to what can evolve.
Some people took exception earlier in the year when I stated that I foresaw individuals earning 25-50 different coins on a monthly basis in a little as 2 years. They thought this was outlandish. Now, with all we are seeing just on the Steem blockchain, it doesn't seem that unreasonable.
While automation is going to destroy a ton of jobs, more than the masses truly acknowledge, it will also create a tremendous windfall for everyone. The key is that we keep forging ahead with a decentralized model. Utilizing applications or services that are on "enterprise" blockchains is just climbing into bed with the same demons. This will not move us towards a decentralized consensus world.
The world is just starting to understand the power of algorithms. Before now, it was the realm of the geeks and nerds. That is why they run the world. While full grasping of how they work might be outside the realm of most of us, the nature of what they do is being comprehended. For many, this is very scary.
Yet, when we move past the FUD, we see the power that is before us. It also becomes very obvious why we cannot allow the same institutions to run everything. If that is the case, inequality will continue to spread. However, if we keep pushing decentralized alternatives that fall outside the reach of those entities, we are going to see a tremendous power placed in our hands.
And, I believe, this will quickly move us from scarcity to abundance. That is the promise of crypto-economics.
If you found this article informative, please give it an upvote and resteem.
Image from article linked.
Yep, but that picture will never come to pass.
We will not see a line of autocars.
Without the entire drive to work, drive to the STORE, drive home thing, cars themselves will be a thing of the past.
The biggest change is that the largest employer in america will become completely automated. And when they become completely automated, their importance will cease to be.
Most of the bureaucracy of govern-cement is just about taking in paperwork, extracting the information and recording it. Why aren't they already gone? The DMV should be replaced with a kiosk. So to should the building department and so many other bureaucracies.
If there was an open database, and you could simply upload all the pertinent information... if all the pertinent information was uploaded from the beginning, well then. What use is the govern-cement?
And everyone will be mining in a few years.
(some people, literally, panning for gold so they can buy food)
It seems weird that now-a-days there are coins you can box mine, like XMR, but very few do. They rewards are just not that much.
So, what changes? Is the paltry amount we get today going to be worth millions? Are people going to be scrambling for a few satoshis?
Are we going to look back and think, the amount we are desperately trying to mine on every piece of hardware we own... we used to get this amount of cryptos from a faucets...
freebitco.in
New technologies create an unlimited number of possibilities that will enable everyone to enjoy a great life. The changes that take place in the world of production of a coin are incredible, all these creative ideas bring a pluralism of abundance in which everyone has their place.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
The cryptocurrency market truely is a foundation with unlimted amounts of potential. As far as the news and negitive fud that goes on, it really just makes me smerk anymore. Most people who cannot let go of fiat currency are suffering from a type of stolkhome sydrome in my personal opinion. I must say though i do appreciate the enthusiasm you bring to the steemit platform my friend keep the posts coming. Your post reminds me alot of why i chose the name i did on steemit though cryptoevolve because i dont feel as evolution ever stops, and i also do not think crypto will ever stop evolving.
Humans and machines will work as a team within five years
Curious enough, yesterday (hours before this post), I wrote about this theme, based on Dell Technologies study.
As you said, it is a done deal!! Not a matter of IF it will happen, but when will it happen and what will be the best way to adopt it.