Whilst it’s a little off topic – I’ve always considered democratisation, choice and knowledge are the key factors in ethical progression of technology. And whilst I’m not a reductionist, in relation to technological determinism, these elements outline an evolution in our possibilities.
I would be so bold to claim (at least in western society) we don’t vote with out ‘vote’ – we vote with our dollar. And with some new ‘dollars’ only being useful within a specific infrastructures – as a proactionary individual, the futurist in me musters a diabolical smirk.
Smirking with delicious irony. We not only vote with our dollar-
We vote on the dollar, to which we want to vote with.
I understand that sounds convoluted. By this I mean that emerging cryptocurrencies are holding significant growth in terms of utility – and at such minimal stages – those concerned with the progression with technology can now more consciously direct said utility.
Firstly, I must pay my dues. FIAT currencies operate on a grand scale however it’s undeniable that geo proximity and laziness allow us to slide into fiscal contentment – or at least I personally only attempted to do just what I needed to get by without diversifying. Personally I lose motivation to ‘invest’ (used very loosely) in FIAT when so much of said investment is wasted on things that are antithetical to my beliefs.
Having said this FIAT currencies do have a place, as imperfect as the system is. I do expect the ongoing maintenance of roads and public services and hence, am happy to pay tax. I have my FIAT investment backed by a federal reserve and a military – so that’s definitely great as a blue chip whereas cryptos can fluctuate to a horrific degree.
To be somewhat parabolic, There is something I trust more than the limbic-crutch that is theoretical gold – Math.
Bitcoin and Ethereum as emerging technology are place markers for blockchain technology. Realistically (as Kurzweil notes), whilst the aforementioned cryptos are volatile – the technology itself is beginning to ripen for widestream adoption. China’s already trying it.
Personally, from this perspective, a nuance in attitude emerged. Predictive investment becomes somewhat non-existent when such a volatile market can plummet and rise within seconds due to a single trader. Additionally, corporatism and privatized economies heavily affect the investment climate. So what are am I actually voting on?
I would posit it is the infrastructure of aforementioned algorithms. Most apt framework lying somewhere between voting, gambling and investment. When you invest in a coin, it’s apt to consider that you are not simply buying said currency and supporting the infrastructure for use/mining, but also ‘investing’ (albeit indirectly) into any hard fork currencies.
This is not something to glibly ignore, we are witnessing the conscious application of technological survival of the fittest in a blatantly exploitable fashion. When currencies hard-fork and spawns ‘divergent’ evolution it would be advisable to assess and invest in future generations the moment they diverge, similar to a day trader but under very specific circumstances.
Knowledge of when cryptos begin to diverge therefore is invaluable. When a hard-fork occurs we witness a mutation within the evolution of said coin, and it’s the only variation within the technology itself that we have some economic predictive capability of! Hence, it would be wise to schedule some alerts regarding specific thresholds on coins.
Furthermore, the investment model has had its entry levels dramatically reduced. This investment into a standing or different crypto, is essentially available to everyone – not just traditional investors.
Investment of this variety was previously only available at a stock percentage buy-in. As the ‘buy-in’ itself is an utility generator, accessibility has been surrendered to the the public.
Entry level requirements for investment are nearly non-existent.
I come to the essence of my point – We are/could be witnessing the emergence of such prolific technologies at an incomprehensibly low level. Consider its possibilities akin to using the internet when it was just a decentralised intelligence network and making an investment in one of the first ‘modems’.
Low entry level investment (Specifically in divergent cryptos) can be viewed as an investment in their ‘strain’ of technological infrastructure and not simply “buying a coin that may be worth something someday”.
With cryptos, one can direct utility and investment towards the ‘technology strain’ that’s most amenable regarding fruition or even the most probable. And one of these blockchain algorithms, will be a diamond in the rough (at least until quantum computing). I’m not overly enthused about corporatism – but at minimum, it’s an influencial variable – and I don’t think it’s foolish for one to place a few bets.