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Philosophy of cryptocurrency, pt2. How crypto helps us develop an intimate attatchment to investment



The first post was a very light hearted, tired writing of cryptocurrency. But it touched on an important point. That being involved in cryptocurrency and the projects you choose to invest in makes you more personally tied down to everything going on within that project. Consider my example in the previous post on investing in NXM the insurance company as an example of this.


Now I would like to briefly go over a Marxist theory (I know a lot of you wont like Marx) However he developed a lot of his theories from Hegel and it is easier to use a Marx example than Hegel. Marx believes, in essence. That the way in which capitalistic jobs run their companies is essentially sucking the life force out of their employees. This is because employees, in most cases are not able to go through the enriching process of starting a job. Say, building a car to its finished project. Instead the employee just continuously makes one part of the car over and over. This soul sucking job takes away the enjoyment of our work. This analogy can be carried over to a lot of jobs. Simply, we don't enjoy our jobs because they are not complete projects. Just repetitive parts of a larger project whereby there is normally a handful of lucky people overseeing the whole project and therefore relishing in the joy of starting something from the beginning and getting to see the final product.


This analogy is something I would like to carry over to our cryptocurrency investments. Continouing on from our example with investing in NXM. We currently aren't really involved in anything in our life that concerns our money. We pay our bills but have no involvement in the companies. Even investors in a lot of stocks don't really get a say in where the company is going and I believe it to be true that this also sucks out the possible joy to be found in our lives. While it does take away a lot of responsibility, I think the responsibility is actually a good thing. Fail or succeed in our responsibilities, we learn. Succeeding in them, we feel good.


Cryptocurrency and the blockchain however seems to be changing all of this, with governance over a lot of the assets you hold and most of the projects or even the currencies being mainly owned and governanced by those invested in it. It allows us as investors to take charge in what it is we want from our insurance company or currency or game and really have a say in the direction we would like it to go. This is enriching for our lives, we must be responsible and care where our money goes, the incentive for doing this is the inbuilt rewards or liquidities or high interest rates that a lot of projects are delivering to us. Outside of these incentives we go back to that Marxist theory of being involved in projects from start to finish. In a world on the blockchain a lot of what you put your time and money into you do it because you have a general interest in the project. For me it brings a more local feel back to where I put my money. Investing in a cryptocurrency, for me, especially a lot of the altcoin projects feels like I am investing and supporting a local business. A lot of the projects I really like, for example redfoxlabs are constantly running incentivising projects to reward my investment with them and continuing the example from part one, my time gets rewarded with a lot of projects too. Be it browsing the internet, playing a game, participating in events in decentraland, using santiment to analyse markets and much more.


Blockchain technology and cryptocurrency allows the common public to have a form of control in the institutions and businesses around them. This control is a self rewarding system where we get to frolic in the enjoyment of seeing our favourite businesses grow and receive rewards as we interact with them and the communities we share them with.


Take back control of your money, your life your future and the world around you, buy btc ;)


If anyone has any recommendations for an aspect of cryptocurrency they would like me to dive into next, please comment below. For part three I think I will touch on privacy, another point I am considering is how the blockchain will open up the world for people who are less financially free to engage with more things than they can currently afford too, such as art and events. For this I might introduce some psychoanalysis and show how this engagement allows one to express and evolve their psyches to better grow as a person.


Thanks for reading!

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This is a more casual follow up to a previous essay I wrote. Reading and understanding it is not necessary but it would add depth to this article. The essay can be found here: https://www.publish0x.co