It's Only Money

The title of this article was taken from a line spoken by Josh Brolin in the film Wall Street: Money Never Sleeps. It is a line that carries a great deal of weight.

In light of all that is happening with cryptocurrency, along with the potential, we can gain some insight by looking at things through this lens.

Perhaps we can take a lot of the emotion out of the equation while getting things in the proper perspective.

Throughout this article, we will try to emphasize how warped our thinking truly is regarding money. For all we believe, most of it is not true.

Will cryptocurrency change that? We will have to see how this unfolds over time. However, becoming aware of what is taking place is essential.

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Money Isn't Real

Many describe cryptocurrency as "Magic Internet Money". This is not a bad perspective to have. However, it is vital we expand that to all money.

The reality is that money is made up. It is a human construct. We created it. There is nothing truly magical or divine about it. Basically, we have agreed upon standard that, ironically, change over time. Cryptocurrency is likely to be one of those shifts we see periodically regarding money.

Understanding this is how we can see how senseless Robert Kiyosaki's claim is that gold and silver are God's money. When it comes to money, humans determine what is valued and what is not.

Throughout history, people used all kinds of things to represent money. Medium of exchanges and stores of value shifted over time. From gold coins in ancient Rome to beads and shells for Manhattan Island, we tend to use what is available. Sadly, there were many eras where people were traded as commodities.

Brolin's statement helps to put this in perspective. Sure, he was playing a billionaire financer who has money, literally, to burn. However, there is a major lesson in there.

Do Not Get Emotional About Money

Going back to the first Wall Street film, in that Gordon Gecko (Michael Douglas) told Bud Fox (Charlie Sheen) not to get emotional over a stock. Since it is regularly collateralized, we can view stocks as a form of money, albeit not a medium of exchange.

Was Oliver Stone trying to teach us something with these films? It seems like the point is clear: remove the emotion.

Up to this point, many are probably thinking how can this not be real? Why should we not get emotional, we have bills to pay?

Here is where it seems the control comes from. When people allow fear to enter the picture, they are subservient. They can be manipulated like puppets on the end of a string.

Obviously, it is very difficult to change our thinking about money. This is especially true if we never has much of it. What is crucial is the perspective we have regarding it.

For most of us, money equates to food, electricity, and the ability to sustain ourselves. Sure, periodically it might mean a trip or a special night out. All of these trigger both positive and negative emotions.

That said, we know what a lack of money instills in us. Not only are we going to be absent these things, our existence might be in jeopardy. After all. food is mostly acquired with money.

So it is natural for us to be emotional. There are real world consequences for not having enough money. Poverty is a horrible state to live in.

However, if we can break the stranglehold that money has over us, emotionally, how much improved would our lives be?

Abundance Of Money

Few of us experience monetary abundance. We operate in an economic system that was designed around scarcity. Why does Kiyosaki call gold and silver God's money? Because, in his opinion, only the divine creates it. This is aided by the fact there is, at this time, a scarcity to it.

With this in mind, isn't it interesting that Uganda announced that it found a gold deposit of 320,000 tons. The value of this is over $12 trillion.

And it was just laying in the ground.

Let us contrast that with the entire market cap of cryptocurrency. While people discuss the size of this, especially regulators when discussing the threat to the financial system, the size is relatively small.

At present, we are looking at an industry of under $900 million. This is less then 1/13th the gold Uganda just found.

Nevertheless, the optimism surrounding cryptocurrency means that many expect much higher prices in the future. With all the development that is taking place, the tokenization of everything is going to have a lot of value.

In short, the scaling of cryptocurrency is like something we never say before.

The Digital Realm

Cryptocurrency was created and resides, exclusively, in the digital realm. This is something that brings new properties that never existed before.

Money is now tied to bandwidth and computational power. This makes sense when we consider that our monetary system, for a number of decades, is really based upon communications. In this era, that means computer networks.

When we look at these, we see that both bandwidth and computational power keep increasing on an annual basis. The Internet does not get smaller. With this medium, there is only one direction.

Of course, that means cryptocurrency moves into the near limitless realm and expands with it. We are seeing abundance created and cryptocurrency captures that value.

This is the true power of the digital realm. At this moment few realize it. However, with abundance, we can take the view that Brolin's character stated, that "it's only money".

The key difference is that, to people like that, money is just a way to keep score. It is literally only numbers on a screen. This is why a statement like that can be made. Multi-generational money cannot be burned through on one lifetime.

Under the scarcity model, only a relative few get to enjoy this position. However, with the era of abundance coming upon us due to the massive expansion of the digital realm, a lot more will enjoy it in the future.

In the meantime, we can work on trying to break our emotional ties to money. Money based upon time (which is scarce) will always create fear.

Cryptocurrency is ushering in a completely new system for everyone.


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Thanks for the much needed reminder. I will soon give this movie - or possibly the original WS - a (re)watch.

Have a great day!

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I love this movie! I own it on VHS. 😝

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(Edited)

Cool! Days ago, I picked up a couple of boxes - mainly records and a couple of dozen VHS tapes - at the house that I sold last October. I haven't owned a working VCR in 7 years or so, but I just can't do away with my VHS tapes haha! Kids of the 80s ;^)

Have some !PIZZA with your movie

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I LOVE my CHS tapes! ❤ There are certain movies that I think are best viewed on VHS such as Home Alone. 😊

My VCR was on its last leg when I found a pristine VCR/DVD player combo at an estate sale. The universe always provides me with one when mine needs to be replaced.

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My VCR was on its last leg when I found a pristine VCR/DVD player combo at an estate sale. The universe always provides me with one when mine needs to be replaced.

Nice!

I got a bunch of classics, including nostalgic films like The Neverending Story and films in all kinds of genres ( from anime ( Akira ) to Western ( The Good, The Bad and the Ugly ), to horror ( Misery, Evil Dead and Evil Dead 2, The Poltergeist trilogy, Child's Play. IT ), to ( Post-Apocalyptic ) Sci-Fi ( Mad Max trilogy, Blade Runner, the first three Star Wars movies ) and even classics like the 1970s Papillon and Badlands, up to Kurosawa and 1920s German expressionist films ( yes, I am a film nerd, who studied film ).

I guess it's about time for me to manifest a VCR player, no matter how many films I can find online these days ;<)

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Bang, I did it again... I just rehived your post!
Week 112 of my contest just started...you can now check the winners of the previous week!
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Money is a physical representation of our power in the physical world, I think. That's what I'm pondering these days, anyway.

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Poor Uganda! Finding this new gold probably far from being good news it can by a nightmare for the people!
Its only gold..!

We are living interesting times, very interesting to see how crypto unfolds in this world!
Hope it does in a beneficial way for financial freedom.

Always nice to read you.
💸

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Cryptocurrency is ushering in a completely new system for everyone

This in itself shows how different crypto currency is to current economics and its mode. As all are built on scarcity. Naturally man is resistant to change and this is what the era of abundance has to fight through to merge victorious.

So much to see and Interesting times ahead.

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Yes a lot of good stuff is going to come out of all of this. There will be some negatives too.

Just like the Internet really accelerated things and was a major benefit to humanity, we can clearly see there are negatives.

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It's crucial to remove emotions from money. Many find this hard to do but the few ones who can, reap great benefits, because they can easily use every bit of it to their advantage, and not to fulfill their emotional desires.

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Emotional decisions rarely work out well. That is one of the reasons so many make financial mistakes. They do things based upon emotion.

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Once you're emotional about money, you lose the game. It controls you like a puppet. With cryptocurrency and the digital realm, money will become more abundant so I guess the attachment to it will decline considerably but the emotional part will still be there.

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That is my view.

We are going to see a massive shift in how people think about money. That is why having some basic understanding of finance and money management is vital.

People are going to have to deal with it very soon.

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Exactly.

Without a proper understanding about money. Tons of it will be not be utilized correctly, wasting it more or less.

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That is true but it is part of the feeling out process. We advance because of the failures we experience.

On a global monetary scale, I think this is happening. Many are realizing the mantra that was applied to Bitcoin about it being an hedge against inflation and the USD collapsing is false.

So now it is time for people to truly learn what it is all about.

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It's hard to shake those ingrained fears. Sometimes it probably feels quite hopeless for those who are in the poverty situtation.

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I hope Uganda utilizes this gold deposit found to better the life of its people, boost the country's economy, lure investors.
This is another case of Africa being a wealthy continent but just do not put the wealth to better use.

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each one will defend their perspective, whether they are those who believe in traditional banking or those who trust Cryptocurrencies, so whatever name is given to money if it allows us to improve our quality of life; welcome be

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I personally think that breaking emotional ties with money is really impossible for most people, because that requires a level of economic awareness that most people are not capable of assuming. I sincerely hope that time will prove the opposite of what I just said, but frankly, I doubt it.

Certainly, those few who effectively manage to break emotional ties with money are able to eliminate misunderstandings, impulsive acts and, ultimately, mistakes of all kinds in the markets and in life. Because the special class of objectivity that is obtained by avoiding emotional attachment to money, allows us to be assertive and makes us multiply it in a better way, because we understand that money (and cryptos) are a concept, a representation of value, but what is really important is how we manage that concept beyond passions and compulsions to multiply our abundance.

Very interesting post, it allowed me to reflect on very important things regarding money. Thanks for sharing. Greetings.

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I would agree with you. The emotional ties to money is going to be impossible for many to break since they are long held beliefs that are deeply ingrained.

For this reason, we have to approach it from a different way. Of course, breaking our own emotional ties is the first step.

After that, with cryptocurrency, I think stressing the abundance based, rather than scarcity based, economic system is the way to go.

Even then, most might not listen.

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Nobody knows if there really is that much gold out there and I guess it will only fuel some of the short term speculations unless Uganda can show that they can produce that much gold fast.

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That is true. It is unknown. However, I believe that claims like this will continue. As we advance technologically, the ability to find more resources (and access them) is only going to grow. This includes gold.

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