Economy - Inclusive verses being Exclusive

I guess when I was younger I had a tendency to burn my bridges when I left a job I didn’t like. Nothing really bad or anything - it’s not like I stormed out yelling, “Take this job and shove it!” Like the lyrics of an old country and western song that some of you may remember.

Sometimes it is easy to get upset if you are not making enough to make ends meet and feel like your employer is taking advantage of you.

As I’ve gotten older I’ve changed to be a lot more good natured and inclusive in my thinking. There are always things you don’t like about a situation if you think about it. I generally try to not stir up too much trouble and try to be supportive of what I enjoy instead.

After all, if you burned your bridges too badly with your employer back then it was hard to get hired to do any kind of work again besides shoveling crap out of an outhouse, lol. (People sometimes checked on your previous employers recommendations) Getting back into the exclusive club of ‘good workers’ could be rather difficult if you screwed up too badly.

So what does this have to do with cryptocurrency and more importantly Steemit? (Glad you asked - I can’t promise to answer that question completely because I tend to ramble on a bit, lol)

Old economy

Scarcity is the name of the game in the old economy. Government, banks, and businesses need to control the wealth as a tool to control the population. As power gets more and more centralized wealthy Plutocrats tend the write all the rules and the danger lurks that the society could descend into Fascism.

Kings kept the population in control through an exclusive wealth driven hierarchy and indentured servitude for most of the masses.

Democracy is eroded as power and control are concentrated. Scarcity and fear are the tools to control the masses because with a lack of power and centralized control the Vandals could come charging over the city walls and collapse the civilization.

Might makes right. Only those with the biggest brains or largest muscles or strongest work ethic should survive. No work, no eat – survival of the fittest and trickle down economics.

New economy

We don’t need a loan. We don’t need jobs that don’t pay enough to keep us out of debt. We need to be able to pay our medical bills without worrying about getting kicked out on the street.

We need to be inclusive of everyone in the world and not just those in “rich” countries.

Cryptocurrency encourages saving, “hodling” and not making money through debts that are created by banks though loans of money they don’t even have. (Technically the banks are supposed to have some backing for the loans, but the fact remains that central banks and governments tend to print money out of control. For example check out the inflation rate in Venezuela)

We can create our own wealth through a public ledger and create money from thin air just like a bank.

We don’t really have to spend it on anything if we don’t want to, and holding it will help out the communities of coins that we value. This is something we could do if there is too much selling pressure driving the price down.

Moving towards decentralized cooperation to drive the economy.

Inclusive verses exclusive cryptocurrency

Is Bitcoin inclusive or exclusive? At first it was very inclusive of just about anyone with a personal computer. Many people mined a lot of it before it got popular. There was still a technical barrier to prevent some people for setting up things correctly but honestly wasn’t that much to figure out.

As it stands now mining Bitcoin is a very exclusive club. You need to be somewhere with some cheap electricity and favorable government regulations and have made a significant investment in specialized equipment.

Purchasing and profiting from trading Bitcoin is headed towards the big money EFT’s and other financial hedge fund type things. (Not really my specialty but I’m learning)

Many smaller alt coins are very inclusive of everyone and give a lot of coins out for free in airdrops and other giveaways. Being overly inclusive without any real business model backing things doesn’t seem to be a real ticket to lasting prosperity either. Many of these coins kind of drift into obscurity.

It is kind of a fine balancing act that has the potential to include a lot bigger variety of people in very specialized ways if done correctly.

Saying one thing while doing another

Insider trading and knowledge is kind of an exclusive club. Lots of public statements are made by people that tend to change the price all over the market place. Markets go up and down very quickly and it appears like a lot of old money is getting positioned in the new economy. Lots of people suspect that a massive transfer of wealth is imminent and they don’t want to be the last ones holding a bunch of worthless stocks and fiat currency.

When someone says something publicly like, “Bitcoin will rebound, but altcoins are ‘never coming back’” I really wonder if they are trying to bottom out the price of some Steem so they can buy it up cheap, lol.

I have to wonder to myself why Bitcoin would rebound if there are better technical solutions that could become more inclusive of a wider variety of people? Shouldn’t there be room for many different solutions that allow prosperity to come to everyone?

Opinion

As usual this blog is just my humble opinion. I have no crystal ball and have no idea if investment in Steem or any other cryptocurrency is a good idea, you need to do your own research.

Happy Friday everyone, here’s a song for your listing pleasure: (the song is not my work obviously)

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Thanks for reading! I always value your support and comments. The pictures were taken by me with my Galaxy S9+.