Reflecting on Crypto
Nothing has done more to shake my confidence in efficient markets than cryptoassets. An asset class with the highest degree of transparency of any distinct asset class in history. Still there has been more malinvestment in this space than perhaps any industry ever (https://wiki.mises.org/wiki/Malinvestment).
Nothing has done more to bolster my belief in the Pareto Principle (asymmetry of outcome) as a natural law (https://en.wikipedia.org/wiki/Pareto_principle). And the power of a group of dedicated individuals to change the world.
Produce value.
The Pareto Principle is one of these principles that cannot be mathematically proved but that works in the real world, approximately...I can see why you used it to confirm the value of a few against the malinvestment of many.
I think there are many things that can't be "proved" why they work. But only a blind man would deny the significance of recurring patterns in nature.
Most start-up businesses fail; a minority change the world. Somewhere today there is a team building the equivalent of Facebook & Netflix for the next era of digital commerce.
I'm very keen on the Pareto principle - or the 80/20 rule. The basic premise being 20% of our actions will result in 80% of returns/reactions, and the other 80% of our actions or efforts provides a mere 20%. If you are able to determine what that 20% is, giving the 80% returns and you can simplify, avoid or automate the other 80% (ever wondered why 80% of employees in a company are essentially useless? 20% of the people generate more than 80% of the revenue in any company or organisation, it's unexplained in maths, yet seen in any sample you care to take ...
Great explanation of the Pareto Principle. It's close to a natural law in certain situations. The most amazing thing is imagine refining that 20% into a further 20% year after year. Retirement would be nonsense because you could be so insanely productive working one week's worth a year and be better off than most people.
Few decades ago, none would have thought that digital money would become a worthy asset- a transparent and worthy asset to be precise. An asset well secured on a decentralised system and is hack-proof. Crypto has really caused a havoc in the financial system, no wonder there are malinvestments here and there trying to sabotage the system.
Thanks for sharing @john-robert
But the price is currently dropping dramastically...
But we hoping for improvement soon
It has been one helluva roller coaster ride!!!
The values of cryptos seem to be plummeting at the moment, but I strongly believe they will bounce back in full recovery in no time. We just have to practice patience.
Thank you for your continued support of SteemSilverGold
Cryptocurrency is a future project run by those who want changes in the trading world to become more transparent. Cryptocurrency markets will return to the top
I can tell you that if someone had predicted that a currency of crypto technology may come up someday no one would have believed, but now having digital money is one of the greatest assets to own, 1btc is worth 6748 dollars, someone's annual income
We all know cryptos with it honey taste, but currently the honey is bitter and no one want to swallow it.
But, it will bounce back, we will soon be back on top.