When the world economy collapses once again due to the negligence of central bankers. Maybe we can have them listen to this lecture by Alan Watts.
Then again, they probably already know it, but simply need to hold onto the fleeting power that they wield. I'm sure that they are not going to like when ideas such as #steemit and #cryptocurrency unite the world and become more valuable than they ever were to humanity.
"What the archaic revival is going to have to mean, if it has teeth, is a re-‐empowering of the individual, and a consequent lowering of the profile of institutions, especially government. We need to think about these things, because we have bought into the idea that we have to serve, and behave, and be enslaved, else chaos will engulf the world.
We need to carry out our analysis of the situation to the point where we can embrace chaos. And see that chaos is the environment in which we all thrive. That’s how I’ve done it for years. You think I could have lived like this, gotten away with this in the Soviet Union. I don’t think so. I require a society on the brink of social breakdown, to be able to do my work. And I think a society on the brink of social breakdown is the healthiest situation for individuals.
I don’t know how many of you have ever had the privilege of being in a society in a pre-‐revolutionary situation, but the cafés stay open all night, and there’s music in the streets, and you can breath it, you can feel it, and you know what is happening. The dominator is being pushed, it never succeeds, it’s never able to claim itself, but on the other hand, history is young. We may have a crack at this. A global society is coming into being. A global society made out of information that was not intended to be ours, but which is ours. Through the mistaken invention and distribution of small computers, the printing press, all of this stuff. "
- Terence McKenna
Steemit is showing how the future will possibly migrate to a 'different way of valuing something'. Essentially, money or currency as we know it (as a form of value-transfer) will no longer be the only form to 'recognise' value and then 'transfer' that value.
The blogging or written-word community has always had value, but fiat currency has been 'imperfect' as a medium to recognise that value and then transfer it. Steemit is a system that has been designed or tweaked to specifically capture the value from this type of community and then provides a pathway to ultimately transform it to bitcoin or fiat to use within a wider economic sense. BTC, fiat, DASH etc are what I call "Generalised Currency" where Steem is a specific one. An analogy would be the 'shopping car' versus 'the bus'. The shopping car is ideal to go shopping in, it's small, easy to park and very cheap to run but it holds at maximum 4 people. The bus on the other hand is the opposite of the car but it holds 100 people. They are both both modes of transport to move people around to meet their specific objectives i.e. those on a bus are dropped off at close to their approximate destination. Those in the car have a specific destination and can get much closer to their objective. We have lived in a world where only buses were available to transfer-value and 100% controlled by others (Governments & banks). That situation is now changing.
The value from products/projects like steemit come directly from those who use it (not governments or banks). Its value starts off at '0' but if it fulfills a need then value is afforded to it by that community alone. So basically, a whole lot of steem was thrown into a big pot and everyone was told to transfer it to others content (not theirs). At the same time a channel was opened up to traders to trade this steem money on exchanges if they thought it had value. So far they think it does because people are willing to give them bitcoin for it.
This is an approximation of what’s going on here. The future is going to be filled by thousands of these types of community valued products. This will not threaten the current financial system as some would have you believe. It will compliment it.
Agreed! On some level what we are capturing is the wealth afforded to us by a growing human intelligence, our need to communicate and share, and automated systems which give us the security and speed to keep things liquid. But also, we now get a bonus due to the recklessness and excess created by our society and central banks. This is why cryptocurrency and anything "real" can benefit from the coming inflation, while those who hold onto paper and centralized bank credits may end up with only that in the end, with whatever value it once had removed.