Crypto-Economic Systems Are Different From Traditional Economics

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Many want to equate what is taking place within cryptocurrency to what they now about classical economics or the business world. This is a mistake in my opinion because it is overlooking a major transition. We are no longer in a world of scarcity, which is where all economic schools were developed.

In this video I discuss how the HBD is something completely different and comparing it to corporate debt is awry. Also, when we look at a system that is only limited by bandwidth and computational power, we dealing with another animal. Crypto-economics is founded in the digital world. Hence, the old observations do not apply.


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Bang, I did it again... I just rehived your post!
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Data is also scarce, there is always more of the unknown than known. Just a demand is HUUUUUGE.
Cheers!

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As time goes by and as more data is gathered I think we will learn a little more about the nature of cryptos, today, even 10 years after they were created, they are still an unknown terrain for us.

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Unknown because most people believed the FUD. That is going to change.

We do not need to tell people about Cryptocurrency. Instead, it will come from them simply coming across it.

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How long do you think it will take for the scarcity mindset to disappear? I am looking forward to the abundance of energy because I am bit tired of the environmentalist.

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How long do you think it will take for the scarcity mindset to disappear?

Generations sadly. It is ingrained into people and will not disappear quickly. Few see what is happening.

Even look at what is taking place on Hive. You read my stuff, how long have I been droning on about this? Yet look at how many you come across on Hive who are still buying into the scarcity model?

Indoctrination is a tough thing to break, especially when it was true for so many for decades. The reality is we were living in a world almost exclusively based upon scarcity. It was the foundation of our economic and financial models. Labor, land, materials, and capital were all limited.

That is radically changing.

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I was only pretty holding HBD pretty much for the interest until I saw the post you put out a few days ago about Ragnarok. Seeing that it will have such utility within that project gives me a whole new interest in it.

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Yep and now you have Hivelist and, at some point, Cubfinance.

Most options appearing. That is a good thing.

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It's a great thing! I've found I have a lot of junk in my H-E wallet that doesn't do much at all, but the list of stuff that has significant function and is becoming multi-functional are the ones that are doing the best.

That's why I didn't get interested in the NFT craze. If they don't do anything what's the point?

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Summary:
In this video, Task discusses the importance of looking at blockchain systems and networked environments in a different light from traditional economic models. He addresses misconceptions about HPD (Hive Dollars), comparing it to corporate debt and emphasizing its potential as a stablecoin and payment mechanism. Task highlights how crypto economics differ from traditional economics due to factors like abundance in digital platforms and computational power. He touches on the value of data in crypto economics, contrasting the increase in data volume with its rising value, which goes against classical economic theories of scarcity determining value. Task also delves into the implications of abundant energy on economic models and the exponential growth potential in crypto economics. Lastly, he explores the HBD-Hive relationship, emphasizing the need for unique ways to generate HBD in the digital realm of crypto economics.

Detailed Article:
The video by Task delves into the intricacies of blockchain systems, networked environments, and the evolving landscape of crypto economics compared to traditional economic models. The discussion centers on HPD (Hive Dollars), emphasizing the misconceptions around it and highlighting its potential as a stablecoin and payment mechanism.

Task addresses the comparison between HPD and corporate debt, pointing out the differences and the unique features of HPD, such as its potential for a payment system built around it. He explains how HPD can be used for transactions and emphasizes the importance of viewing crypto economics through a different lens than traditional economics due to factors like abundance and digital platforms.

The video explores the contrasting value of data in crypto economics, where an increase in data volume translates to increased value, challenging traditional economic theories based on scarcity determining value. Task also discusses the impact of abundant energy on economic models and the exponential growth potential in crypto economics due to factors like computational power and networked environments.

Furthermore, Task delves into the HBD-Hive relationship, highlighting the need for innovative ways to generate HBD within the digital realm of crypto economics. He discusses the implications of HBD being used in various digital applications and the importance of maintaining liquidity in Hive to support the ecosystem's growth.

In conclusion, the video provides valuable insights into the unique characteristics of crypto economics, emphasizing the need to adapt existing economic models to suit the digital realm. Task's analysis sheds light on the evolving landscape of blockchain systems, networked environments, and the potential of cryptocurrencies like HPD in reshaping traditional economic frameworks.

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