The Future: Something Out Of Nothing Is The Age Of Abundance
Many of us are questioned about cryptocurrency and where does it get value from? This is a logical question because few ever take the time to analyze it. Instead, people just accept that things are worth something because they care conditioned to believe that.
The truth of the matter is value is only what two people agree it is. We see this in the markets. A stock is worth a price one second and then it is a totally different price a few seconds later. What happened? Did things change that quickly with the company? Of course not. The agreed upon value is what shifted.
Something is only as valuable as one is willing to pay for it (presuming one is willing to sell at that price). We see this with every asset class out there. Currency is the same way. Why is the USD worth X number of GBP one minute and a completely different amount the next? The same reason.
Most of us are conditioned to believe that value is associated with a variety of factors. At times, they can be although they will often diverge. For example, how much labor goes into something is usually a condition of establishing intrinsic value. Many feel that the energy that goes into something is what creates the value. This can be in the form of electricity, labor, capital, etc... All are forms of energy.
In the technological world, this is taking on a different meaning. With algorithms and other technologies, we are seeing things shift in a dramatic way. Cryptocurrency is just one technology that is showing how much different life will be in a decade or so.
Take art as an example. Painting and drawings were always priced on a variety of factors. The artist was one of the primary variables. Today, we have an artist who created something that went for over $400K.
When you think of great artists, does the name Obvious come to mind? I am not an art expert but I do not remember that name among the all-time greats. Yet, Obvious created a masterpiece that was just sold by a renowned auction house for $432,500. Who is this masked marvel?
The answer is that it is not a who, but a what. Specifically, it is an algorithm. Obvious is an AI artist. It was put together by 3 French students. They used open-source licensing to alter the code to create the piece that was auctioned off by Christie's.
Now some dispute is taking place over the ability to use open-source licensing for profit. The students altered the code but a great deal was copied. How much remains to be uncovered?
https://www.theverge.com/2018/10/25/18023266/ai-art-portrait-christies-obvious-sold
Nevertheless, the point here is that a print was created using open-source code that someone valued at over $400K. This exemplifies how something could be created out of nothing. Certainly, print number 2 is not going to be worth the same yet it will still have some value. And what about another alteration to the code to create a different set of prints?
We see major Wall Street firms all creating their own algorithms which is used for trading. It is still early so there is not an established, long-term history but the returns look promising. Funds that are managed by AI appear to be outperforming those that are run by humans.
This speaks to the heart of the Age of Abundance. One thing that software does is that is keep creating value once it is written. Certainly, there are time updates and debugging takes place but the overall benefit is a reduction in cost. Over the next decade, we are going to see algorithms in more and more areas of life.
The total effect is a demonetization of a lot of things. How does the art world change when AI can be altered to create original prints? We already saw this ability with the newer publishing and graphics programs yet they still required human design. Now, we can eliminate the humans.
I might not have a Van Gogh hanging on my wall but I can have a unique AI created piece for little to no money.
Source
The Age of Abundance is about the other 99%. We live under a system, regardless of the political or economic makeup, that favors the elite. The reason it is this way is they designed the system (or corrupted it).
A new paradigm is opening up which helps both sides of the income statement. Technologies such as these are going to drive down the cost of things. Algorithms are going to be coupled with 3D printers to enable physical products to be manufactured for minimal cost. Give it another ten years and this process will be standard in all plants while common in people's homes.
On the income side, we are already seeing the benefits of cryptocurrency and the token economy. Crypto-economics means we have a platform which can pay individuals instead of the ecosystem designers. I posted this morning about @dclick which is doing the same thing as Google ads yet actually gives the bulk of the proceeds to the content creator.
We are nearing the point where we are only limited by our imagination. If you can think up a way to alter/disrupt something, the tools will be available to you. What is most exciting is the financial tools are going to be there since we are developing alternative funding capabilities.
Our world is so consumed with fear because people continually live under the umbrella of "there is not enough". This is the world of scarcity. Our next evolution is the exact opposite. Being in cryptocurrency taught me that scarcity is being eliminated. Certainly, it will take years for everything to filter through and the masses to catch on. Yet the groundwork is being laid now.
As we reduce fear, a lot of what is wrong with this world is also tended to. Look at what is taking place and you see fear is behind a lot of it. Most of our conflicts are because of fear. When there is nothing to fear, what is the need for conflict?
Money is a weapon that is used on humanity. There are few topics as emotionally charged as money. This is one of the ways that we are controlled. By breaking out of this, we are free to operate, mentally, at a much different level. We are not driven by the knee-jerk emotions that are so often present when fear is the overriding factor.
Each week I see more signs that we are moving in this direction. They are not easy to spot in these early stages but they exist. Collectively, there is a great chance we can alter humanity in under a generation.
In the meantime, perhaps you can design an AI legal team; there are three French students who might need some defending. From what I hear, they have a little bit of money also.
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The reality is that value is created by the demand of something no matter where it comes from or what it is used for. Are diamonds needed to be on a finger or on ears? No, but they are scarce and have demand given what society has made of them. The same will continue to happen with technology as it evolves and improves our lifestyle.
AI Legal Team.... and so it begins. The unravelling of the corrupted system. It's happening because there is a better way immerging. It's crazy someone would pay so much for that art piece! A bit insane actually.
This is a two headed affair. As long as so many are speculators the value will not be an accurate reflection of the value. Especially given when whales manipulate (pump and dumps). These speculators for the most part care little of the project itself, simply looking to profit from someone else.
I also believe that the abundance part will not fully set in until such a time as fiat is not the barometer of value, and one does not have to enter/exit using it. We need to see a shift (like with many states allowing one to pay taxes with crypto) where one can spend their crypto instead of fiat.