Is there an ethical difference between owning shares and owning cryptocurrency?
I have never had a desire to own shares in companies. I do, through my superannuation (just about every Aussie does). But I still recoil at the thought.*
The problem I, and many like me, have with shares and corporate structures are the ethics (more accurately their absence) in the corporate mindset.
It's no secret that a corporation has the singular goal of providing value for its shareholders.
And while I acknowledge that the corporate structure has enabled much progress in the world, I assert - unlike many in crypto land - that so too has government (not least, by way of example, the corporate structure itself).
But my adventures in the crypto world emerging in real-time around us has me pondering what I have in common with many of the friends I am making through various platforms. I know that my politics cast me as an outsider for I am no libertarian. And yet I love the 'build it from the ground up' nature of the crypto space.
I am no hardcore capitalist either - but I like the idea that my crypto investments are (hopefully) going to increase in value.
And I love community - and I share that with most people using STEEM and steemit.
I also share a lot of other things.
I love the idea that together we can build something great, and lift each other up as we go, no matter where we live in the world.
I love that many cryptos are open source - that the developers have a belief in the power of creativity and sharing and community building.
And I love that I, like us all, are at the forefront of a technological revolution that is going to change the world we live in - hopefully for the better. At least I think so.
And I love the opportunity that presents.
So is crypto different from shares?
I think so - at least for the moment. They are much cooler, that's for sure.
And if the technology and many of those behind it maintain these qualities, even in the face of huge corporate and government take-up of blockchain tech in the future, then the future will be cool as well.
Photo courtesy of pixabay.com
I think you nailed it, @drwom. I love the community behind cryptocurrencies. Steemit for example. This kind of community simply doesn't happen with holding shares of a company. Even other cryptos have a huge following and community on Reddit. It's awesome
Cheers mate
I have always looked at owning stocks as playing in a rigged game. I'm not connected enough to get the insiders keys to winning said game. 90% of people LOSE money in the stock market.
Crypto (for the time being) is much more democratic. And the opportunity is there for everyone. It is a level playing field right now.
There are scams out there. And its seems that the same scammers (Wall St) that scam money from the masses in the various stock exchanges are now turning their attention to crypto. The upside is........a lot more capital will flow into crypto raising the price. The down side is...........they're scammers.
Hahahaha
I so agree!
The blockchain is going to wipe out the shares of many of the companies you are referring to. That is why bankers like Dimon attack them at every turn.
The blockchain has the ability to break down the silo system that the Internet evolved into. It is basically a Google-Facebook world with a bit of Amazon, Microsoft, and Apple mixed in. Blockchains like steem have the ability to break that apart. Put 10M or 20M on this blockchain and see what happens. We will be looking at a different world once that happens.
Nice one
Can you write a post on this? I like where you're going with it 🙂
Here is a post that covers the silos in part.
https://steemit.com/steem/@taskmaster4450/steem-and-the-siloed-internet-the-battle-lines-are-drawn
Awesome work. I don't resteem much these days - but resteemed!
many prefer to refer to such coins as crypto-tokens or even crypto-equity to avoid confusion.
Noted, thanks
Same thoughts
Cheers!
Mining (and therefore buying/holding) Bitcoin is already making headlines with regards to the electricity required...
True
I dont know, i still think the governments will team up and come up with their own world wide crypto, and force everyone to use it! Rendering all these other currencies useless.
Hahaha quiet possibly!
I think it depends on which companies and currencies you invest your money and time too. The more you invest, the more powerful the project. If it goes against your ethics, well why are you investing in that?
Great comment. I'll be thinking about this for a while I reckon...
there most definitely a difference in the mindsets of those who invest in shares vs somebody with crypto.
Well, there seems to be for me 👍
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