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RE: Resistance Is Futile: Countdown To The Extinction Of Economic Dinosaurs...?
What a very interesting and well thought out and well written article. Do you not think that perhaps all that block chain technology is doing is simply shifting power from economists and bankers to tech wizards ? Maybe its not improving anything. As seen here on Steem, people are still very greedy and those who aren't economists or bankers, and who aren't tech wizards understand neither, but still want to buy the latest iphone..the end product is still the focus for the huge majority. Are the new controllers of the fiscal world, ie techies, any better moral judges than the bankers that preceded them ?
Again, great read, thanks and enjoy the rest of your weekend ? :-)
Pretty soon iPhones will be given away for free because users data is more valuable than the hardware. Only about 50% of the world's population is currently online but this is changing rapidly. Traditionally, companies have offered free services in exchange for user data but this has consolidated the power of information into the hands of a few centralized organizations who profit massively while the users who provided all the value receive very little in return. For example, WhatsApp was purchased by Facebook for $19 billion not because of some great technology or their 32 engineers but for their 500 million users data; the users received nothing in return. Blockchain technologies are changing this so that everyone has an opportunity to be rewarded for the value they add to a platform.
seriously, look at Steemit. £700 for a girl stood in front of a mirror in her underwear trying on clothes for 1.5 minutes or $35 for this fellas article which is carefully thought out and written and a great piece of content (regardless of whether one agrees or disagrees) ....where is the reward for adding value ? Its reward for the populism.
I don't disagree with you at all in regards to Steemit posts. My statement is probably better aligned with a project like BAT rewarding users for their attention.
The "problem" with Steemit is that they are committed to distributing a fixed amount of tokens to users regardless of the quality of the work. It's a finite resource that everyone in the ecosystem is competing over. Natural selection doesn't select traits because they are "high-quality"; they are selected only for survival. Unfortunately, survival in Steemit's ecosystem means spamming into oblivion and joining the populism.
Steemit's SMT, by contrast, functions more like a subreddit, or niche with specific rules for survival that the community enforces through the exchange of that community's token (similar to Reddit's moderators). "Girlsinfrontofmirrors" would have no incentive to post in "thoughtfulfellas" because that community would not reward such behavior and vice versa. This enables members of the SMT community to thrive without having to compete with the entire ecosystem. The most popular posts in the niche might then go back into Steemit broader ecosystem reflecting something like Reddit's "Rising" or "Hot" page.
No.
I'm no tech wizard. But stumbling into crypto completely changed around my financial life. And I'm not the only one that can say the same here. And, with what I've created/earned here, I've developed the capacity to pay forward the gifts - supporting a number of authors in third-world countries replace their monthly income.
Crypto is putting financial tools in the hands of billions whom it's been previously unavailable to.
Blockchain is enabling platforms like this, on which to create new forms of value, collaborate internationally with little friction, and reap the rewards of their input accordingly.
It's a game-changer.
Though ultimately, it's up to each individual to choose for themselves as to what to do with the opportunity... ;-)
And here is where the problem lies. People are greedy whatever the financial instrument, You are not altruistic because of crypto, you're altruistic cos you're a nice person.
I'm just a cynical old guy playing devil's advocate that's all. Crypto is a game changer but I just dont think its the saviour of humanity its painted out to be thats all :-)