RE: New World Currency - May 16, 2018?
I absolutely expect to see a culling in the cryptomarket soon. The reality is that -many- of the coins that exist today simply do not have the man(people) power to achieve what they are aiming to do. Even if they do, it is entirely dependent on a 3rd party cracking the 'adoption' issue - and even, even, with that the coin that they have made must work well and remain popular even the new market that emerges as a result of adoption.
Whoever cracks the adoption issue has the potential to shape the market, at least public perception of the market (and the world is what the majority views it to be, right?)
After that, I absolutely expect to see new ATH's, mass adoption and huge innovation. I just don't see GSK or Microsoft putting billions into tech that has the potential to be worthless with a single scandal. There are literal fake ICO templates and guides. Services dedicated to drafting fake whitepapers. If a business is able to substantiate itself on the creation of fake ICO whitepapers then its fair to assume that it is common practice. Each of these fake ICO's, if exposed, has the potential to white billions of the marketcap (We are so use to seeing fluctuations of 20/30billion, even a billion in money lost through fraud is scandalous to say the least).
Got super interested in this idea as I was writing this post, so if anyone wants a discussion comment away
You make such an excellent point here, @castbythecoast, on the subject of adoption. I totally agree. This is why I look at the true utility, which is really what will drive adoption. That's why I still like Ethereum, Stellar and NEO, with many eyes also on EOS, because of the fact that Dan also created bitshares and Steemit, which has proven to have such utility value, even despite still many aspects that fall short of expectations. I've got my eye on Stellar too, given one of their largest partners, IBM, has said that the central banks looking to create their own crypto currencies will most likely do them on Stellar. Of course, I'd like to see them decentralize more once the market is there. There are many others too with good utility, but the bulk have so far to still go in that area and if they don't make sufficient progress in a certain amount of time, they will get abandoned, especially once the others start to shine more. I believe the next few years will bring more to the market and many will fall by the way side, because of real lack of operational utility.
I was pondering last night just how this market and the world as a whole may look like in 8 years from now at the end of this supposed astrological period of time. A friend mentioned to me in private this article was a little like Sci-Fi and I thought how so much of life could be viewed like that too. Imagine if we were to go back 10 years ago how the whole thought of crypto would have seen to us then. It's both very exciting and mind boggling, to say the least, just how this whole thing will play out in the coming years.
This matches my expectations as well. I do think that something will also give in traditional sectors. I especially like that crypto is already influencing the dynamics in those countries where currency is completely mismanaged. Granted, nothing drastic has happened yet, but you can't help but feel like a disaster is brewing while some countries are lopping off zero's on their currency denominations :).
I agree. In my perspective humanity as a whole needs to experience these lessons of our mistakes in order to wake ourselves up from this stupor and learn to really think outside the box we've programmed ourselves within in order to create a whole new system that is far better. Because the old is so deeply wired into our subconscious, it would seem we have to bang our head hard enough against the wall to wake up and learn. If nothing else, that would be the antagonist role I would say the heard-headed power elite are playing.
While at the same time Satoshi Nakamoto began that process and look where we are now compared to then. 10 years ago the global financial system was in collapse and any thought of what we have now with blockchain technology would really be like some sort of cosmic Sci-Fi. Yet, it is now real and we are truly on the brink of something literally mind boggling. Those of us here on steemit are the visionaries and pioneers. As the old fails, the new is rising. The pendulum is moving in our direction, even as the old power elite seem to be playing out their own game of batten the hatches to keep the sinking ship afloat. I'm a true believer that at some point soon these new technologies will win out. We truly are living in exciting times.
If there is a culling on crypto coins how do you suppose it will go down? There are hoards of people on both sides trowing mud. Take the BTC BCH war for an example. You would have to completely convince one side to go against what they believe in and even worse what they have invested in to make one of these coins falls flat. All the other coins work on the same principle just on a smaller scale and then you also have the factor of hodl'ers in the crypto space which makes a coin falling flat on its face over night difficult.
I agree that most coins will die out but think it will take a while. Same as the US$ (Mind over matter).
Would like to further this discussion and hate losing money so convince away.
That's a really good point - I think the underlying assumption is that the majority of people holding are doing so out of a genuinely informed understanding and not just what they interpret to be a consensus. If people feel out of their depth they appeal to authority and that is where there is potential for decline. Another thing is that a lot of people have more money than they can afford in crypto (admittedly this is a speculation) I think if there's a bad enough FUD (Let's say if an authoritative figure writes an expose' on BCH) and it loses 30% of its value this has the potential to cause exponential decline, similar to what we saw in Jan. I think we actually agree though, I don't expect anything to happen for a while because we are all in the business of making money. There isn't a lot of value in ruining everyone's fun, you know? One thing I'd love to get your opinion on. Once we start to see more common prosecutions for crypto fraud (and we absolutely will) and the FBI start actively pursuing individuals and investing tax, how do you think this will affect the market? A lot of people are holding on exchanges, impending tax legislation is good incentive to move this. Perhaps I was being flippant when I said 'soon'.
The way I see it, it can go a few ways and obviously its impossible to predict anything, especially in this market. Either we crack the adoption problem, either a 'powerhouse' get involved or we stagnate and die. Maybe I'll write an article on it, probably I won't.
The main issue is that as it exists right now I very much feel that there is a willful ignorance amongst a lot of cryptoadvocates, myself included. I think that we are perhaps turning a blind eye to the scale of debauchery taking place behind closed doors. With that said it's hardly like the IMF or WMO are exactly saints. Essentially, what I am trying to say is that this conversation goes far beyond just conversations of impressive technology and touches of several philosophical and ethical issues. For example, we are walking with smiles on our faces into what has been described as quintessential neoliberalism, perhaps anarcho-capitalism. The latter means Uncle Sam might just have something to say about. Which again, is another concern.
I went of on a bit of a tangent here, what do you think the next 5 years looks like for crypto (and by 'you' I mean you and anyone that happens to listen)
One area in which I think cryptocurrency has the potential to be EXTREMELY useful is in environmentalism. Simply because we need to monetize efficiency and saving. I'm not sure if this can effectively be achieved with fiat currency and in truth, just as I wrote this last paragraph I realised that I might have been ignorant. My area of interest is environmental monetisation and as such, I can see the great utility for the cryptocurrency, confined within the parameters of my own interest. I'm sure that an individual with an interest in Oil, Infrastructure, Travel or Agriculture could very easily raise the same, if not better, arguments than I could the applicibility of crypto to their area of interest.
I'm not entirely sure if I just managed to convince myself otherwise throughout the typing of this message. Perhaps. What an apt emodiment of the indecision us cryptoadvocates face, ey?
I love the way you argue @castbythecoast you sound open minded. So open minded you even convince yourself.
For me crypto is a way of getting rid of our current shit system. No matter which field of study you look at. At the end of the day we measure an economies success by the amount that has been spent that year, no matter the consequences. If there was an oil spill of the coast which killed wildlife and destroyed the environment and we spent a few billion cleaning it up is that good or bad for our economy?
The argument you have in connecting crypto and the environment would probably be better than mine because I am more focused from an economic point of view. The fiat monitory system we have going is far worse than any amount ever stolen in fraudulent ICO or crypto exchange hacks. Quantitative easing and fractional lending is theft if done by any normal person yet the bastards controlling the system can do as they please and call it fancy words. They devalue your fiat and steal your wealth daily and people has come so accustomed to it they don't even give a damn. Yet every passing day we can do less with our fiat and people are pulling heavy weight but they don't realize why that is.
Our president here in South Africa have a good saying to explain this. He directed his comment at the white population and said that it will be like boiling a frog in a pot. He will turn up the heat slowly so that the frog won't notice the raise in temperature and in this way he will slowly but surly kill the frog.
That's why the bastards gets away with it. They started out with 1% tax and said that it will only be for a short period. Now, 100 year later we pay truck loads of tax not just on your salary but everything you buy is also taxed. On top of that comes inflation and shit like licenses to do things you apparently don't have the right to do without asking people with apparent authority if you may please have permission to do.
We just have to make this work man and I think people, even though they don't directly see the effect explained above sense it. I know (more hoping for it than knowing) that people will tend to lean toward a system where there is less energy required to make a living and that for me is blockchain technology.
Great discourse here, @dpl. It's funny, because the old frog in the boiling pot of water is both something I've been saying for at least 3 decades now and also what I was going to use in my second part of this article. I'm not really sure who came up with it first. It's really the point of the illustration that really counts anyway. Plus, it's great to hear a politician actually using it. I hope he uses it to truly bring positive change. That part of the world could really use it too.
Ha! @positivesynergy you just gave away your age :p... :)
The more I read the work of people on this platform the more clearly I see how they make things happen.
In South Africa, like everywhere else in the world, it is divide and conquer. Here they use the race card to divide people (black against white). Positive change is never the objective. He is a Black president and directed his comment at white citizens back in the 90's, long before he was even president. They stir up different groups against each other to take focus off themselves while they steal the country blind.
It is a pity really! That people can so easily be manipulated. Like David Icke would say: we are all human. We are not different colors or races or religion and once we realize that 'they' lose all their power.
I think their long term plan is probably to bring war to this country as well. You know, like a long term savings plan. Because the way things are going now really does not make sense. This country is going to shit and it would not be the case if we just build it up together. There would be more than enough for everyone.
That's a shame, @dpl. You're right. It's been their strategy on earth probably as far back as the first kings ruled. I've noticed they've been turning up that dial and really picked up the pace all throughout all global media I see especially since Trump started running in 2015. It's to the point that from the outside looking in through all media (both mainstream and alternative) it's to the point that the US appears to be in a UNcivil mental and psychological War now like never before. To me the race war PsyOp is maybe the most insane of all, because we are all part of the same human race. Yet they have programmed into people's minds to "think" a darker brown skinned is of some sort of illusion called a "black race" and a lighter more beige skinned person is of some "white race".
source: PositiveSynergy
It's is ludicrous if you just take 5 minutes and think about it! And whilst this is going on they rob us blind and kill our neighbors.
That's where in my view if we react and get angry, we only play right into the game. In one sense even seeing it as their intended goal I think takes us down the same path too, when their is still a possibility that it is simply a case of their own blind triggers at work in them. I think that's the case for all so called "conspiracy theories" in the sense that judging the intentions of others creates the antagonist within ourselves and thus gives us the very same divisive effect. Plus, I can tell you firsthand that all throughout media these tactics are used to pull in eyeballs to sell sponsors and their products to; and let's face it, money does blind human nature from the truth. To me all of this that we see shows just another sign that this entire debt-based global financial system is coming close to running it's course at the end of it's cycle.
This is all where I believe each one of us has an opportunity to overcome our current state to decide for ourselves what it is we really want. It all starts with us. It starts with where we choose to focus our thoughts and emotions on. If we really want peace, as Gandhi said,
Being something we have not really been before requires us to think outside the box. That's really where I want to take this post conversation, even if I do a second part at some point, which would dig in deep to the past and how we got here. The first day of feedback on this post had a lot of activity, but the second day, which was the actual date of the title, seems to have completely died off. I guess it would have been better to have done it a week in advance.