I haven't written in a while because I have been working and labouring is hard work for someone who previously has hardly moved off his ass all day. But not writing builds up a tension so I'm finally getting round to it, although this will be a tired piece. I don't really know what the philosophy of cryptocurrency is, I think we will find out as we move along. So I will try to unpack it best I can and break down what i see as the future path cryptocurrency can take us down and the impact it can have, mostly on an individual level. If you're here to find out where to make money you have come to the wrong place!!! LOLOMGXMRNXMETHNFT... sorry. So let's try to look at cryptocurrency from a personal level. Cryptocurrency allows us to be more personally involved with any capitalist venture in our life. From business to hobbies cryptocurrency has found a way to combine owning a stock and using a currency into one sweet sweet coin. So here i am. A man, With bags (I wish) I want to protect my bags of investment so i take our insurance over on nexus mutual. I buy their coin, the coin is then used to take out insurance claims on whatever ventures i have chosen to go down. The coin also acts as governance I am now a fully fledged member of my insurance company. I get to have a vote in the decision making process that MY insurance company makes, if I am to busy I can designate someone I trust to handle my vote for me so that it does not go to waste! On top of this I am BACKING this company by putting my hard earned money into nxm i have not only taken out insurance but I have put my money out there to work for me (lord don't let it fail) Perhaps an upside, perhaps a down. My money now has the chance to make more money, or less. Welcome to the game. It can go a bit deeper than this too, but I will leave it here, those that understand the depths need not explaining.
This is kind of the landscape as we see it at the moment. However I would call one foolish if they were to think it stays this risky forever. Low risk is a big market and the consumer normally gets what the consumer wants. PRIVACY BABY - although not quite the privxmr venture we hoped for just yet. Cryptocurrency ideally will put us in a position of actually owning our money!! No more giving the money to the banks and then paying to bail out the banks with our taxes when they go broke. Your money is your money, for your eyes only, if you decide to take your money over to a public ledger so it can be held accountable in a transaction then that is up to you! (I will say cryptocurrency has some work to do to get to this idealised level of privatisation) TIME IS MONEY AND MONEY IS TIME - For me personally, the most exciting avenue cryptocurrency seems to be going down is that of turning your time into money, whatever it is your doing. Even if your gaming. This is also perhaps the best counter to the fact your investment might go down. Your investment will always be rewarded. So we open our laptop and go onto the internet. I open up brave browser - instantly I start receiving BAT tokens as a reward for advertisements viewed. I've got an hour to go so I log onto my favourite game - world of cryptocurrency...craft.... I complete some quests and receive my reward and b-b-bonus! I find a rare item. My quest reward allocates me some more cryptocurrency to do with what I will. I can head over to uniswap and trade my quest reward for any crypto in the world. My quest reward can be swapped for beer token down at cryptopub ready for tonight. Meanwhile my epic quest reward is given to me as an NFT (non-fungible token) A real asset, only 250 of them made the nft has cross-game access and if I like the item I can use it on other games! Or i can take my NFT and trade it for another NFT, a real piece of art made by Crpyto-Picasso! Sorry I had a Segway...... anywhere you put your money, your money is put to work for you. Back over to nxm your insurance deal is paying out every year you don't claim on the insurance. Heck, my Ethereum is currently earning me 7% interest P.A meanwhile banks in England are talking about going into negative interest rates. If you put your time into the block-chain it will reward you. Facebook currently takes our data for free but there are block chains working on rewarding you for your data. Praise be the day I get paid for scrolling on twitter.
Okay... I've had a bit of fun above. Cryptocurrency gives us individuality, responsibility and ownership over our assets and our money. I actually wanted to write a paragraph on freedom and spirituality associated with cryptocurrency but I can already see that I am getting carried away. While I would like to assume that the above comes true and that the connotations of this means each individual has more personal time and money and through the enhancement of the technology a better standard of living.... It's still a while away yet. The technology is early, Heck the whole market is only worth 360 billion. But the potential is there and when you observe what is currently going on in the world, defaulting businesses. Negative interest rates, a dooming recession, history of bank and wall street bailouts it seems like a pretty good alternative. So I will leave it here for now as a part 1, I think this is a good and fun way to open up the topic before venturing any deeper, I will write part two very soon and will get into the actual PHILOSOPHY of cryptocurrency using this post as a segway to assume some philosophical positions. As this is a bitcoin post I will include a selfish plug. If you want to give me money, donate bitcoin here: 39W5WyCMrijhWj1pw6Qu49NigMrbyRjCU1