Cryptocurrency: An Entirely New Wealth Class

Cryptocurrency is changing everything. At the moment, we are witnessing the foundation being laid for a completely new economic system. The limitations of the past are rapidly being removed.

Tokenization provides digitization. This creates a shift from the physical world to the virtual. The latter operates according to a completely different set of "laws". It places a lot more on an exponential scale.

What we are going to see is enormous wealth generated. This is true for everyone innovation that society comes up with. However, the challenge is distribution. Much of the success goes to a select few.

Cryptocurrency does not completely solve this problem yet it does offer a way to include more people. Those who are trailblazers are going to find out how much financial benefit there is to being early.

Nevertheless, over time, we are going to see a completely new class emerge. This is going to be global in scale and will push people to attain much greater levels of than ever before.

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Near Unlimited Reach

The Internet has over 5 billion users. We see this number growing each quarter. Within a few years, the entire planet will have access to this medium. That means that anyone can reach all 7 billion people.

When it comes to network effects, there is little that compares to the potential of everyone on the planet. Successful industries in the past were only able to access a fraction of this. We are going to see the disruption of most industries.

Many wonder when cryptocurrency will go mainstream. At the same time, there are some who forecast what this will be worth. Basically, how much are we really talking about here?

With 7 billion people involved, there is the likelihood we are going to see economic production at a level never seen before.

Paid To Consume

Cryptocurrency is creating a paradigm shift.

Not too far into the future, we will get paid to consume content. This is a marked difference from the old model where people paid for information. The Internet created abundance in this area meaning eyeballs are vital.

Of course that was always the case. However, with the plethora of content being churned out, and rising, we are going to see systems that reward people for reading or watching. The most successful shows, films, or content creators are going to be those with the most profit for their followers.

This lays the groundwork for a new economy whereby those with the vast resources are not the same as the past. People entering the traditional professions, especially when it comes to information or entertainment are going to find that they lack the same opportunities as their predecessors.

Basically, the industry disruption due to cryptocurrency means a lot will try to follow the old model only to find it does not work.

The "attention economy" is only growing. Here is where the power is going to reside.

DeFi All The Way

Anyone who is establishing a foundation will be able to grow that significantly over time.

What is going to take cryptocurrency mainstream?

One of the biggest moves yet to come is the tokenization of real estate. At the end of 2020, it was estimated that the global real estate market was $325 trillion. This is an enormous sum, one so large most of us cannot put our minds around it.

Today, we have an industry that is barely $1 trillion. However, what does that look like when even a fraction of the global real estate is tokenized? We just say a UK developer move into this realm.

What makes all of this so powerful is the fact that people from all over the world will, eventually, be able to participate. Certainly we have to see laws changed which will occur as the industry matures. However, the key is that, through the attention economy, people are going to have the resources to participate.

Imagine being able to invest in 250 properties, all over the world. The entry could be only a few dollars yet one would have stake in some of the most populated cities in the world. As of this moment, most of the global population is excluded.

This is the power of Decentralized Finance (DeFi). Naturally, this applies to a lot more than just real estate. People can do this with any industry.

New Investing Class

We are seeing the creation of an entirely new investing class. In short, everyone is going to fall into this category.

It is logical to presume this is going to change from the way things were in the past. Whereas traditional investing requires understanding things such as cashflow, reading balance sheets, or monitoring different markets, the new investors will understand "what is hot".

Having one's finger on the pulse of trends is really where the major wealth is going to be achieved. Since communities are going to be at the core of much of this, being able to forecast where people are "assembling" is vital.

The old Warren Buffett style of investing is going to be dead. Instead, social tokens could end up being the most valuable of assets. Again, we are in the attention economy and determining where the eyeballs are going is vital.

Cryptocurrency is an enormous opportunity. It is allowing us to remake the entire global economy. This is exclusively resident in the digital world meaning we are going to see numbers that blow everyone away.

We are going to see a new wealth class emerge. This was standard throughout history. However, this time, we will see someone from Silicon Valley along side a kid from Nigeria who makes some wise decisions.

That is the power of cryptocurrency and what is being created. The Millionaire Next Door is going to be someone who using nothing more than a phone or laptop.

Exciting times ahead.


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Yeah, Crypto will change the world and really make many rich, i just pray it comes soonest

You got the right vision about crypto

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A lot of building still needs to be done. It is vital to look at how crypto is changing the economy, not the speculation and moonshots.

That former is where the real wealth is going to come from.

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Yeah you are right
But i also think the future there will still be wealth to share from

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We are entering an Age of Abundance. There is going to be plenty of wealth generated. The question is how many are going to put forth the effort to realize that?

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Yea you are right
Maybe setting plans and visions will help utilize it

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Agree this is a great vision, but we must do our part, by spreading the word on Twitter, Facebook, where ever people give their time and attention for free, that they shold come here.

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Sure, we will reach out to people there
It has to be heard everywhere

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 111 of my contest just started...you can now check the winners of the previous week!
!BEER
11

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The Internet is a huge unlimited space with a vast number of opportunities to choose from. The Internet is so rich that everyone can be a millionaire in diverse ways.

Now comes the King of all Crypto. Another set of billions of opportunities, ranging from investment to savings to games to software development to podcast even our social media Hive.

This is the era everyone shouldn't miss the chance to be rich.

Thanks for sharing

Cheers 🍻

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The Internet excels since it scales so much faster than the physical world. We are only limited by bandwidth and processing power. Both of those increase over time.

That is why it is operating under different "laws". We see how the exponential growth not only of users but the power of the medium itself is occurring each year. This has a huge impact upon the opportunities presented.

Cryptocurrency allows for us to capture that value in ways it never was before.

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It is a huge space, the internet, and it's easy to get lost in it. But we can spread the word of our opportunity by going to places where people give their time and attention for free, and encourage them to come here!

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I'm starting to think that there will be a major split. Some or maybe many will want to stay in the current system. They have a lot invested there. I am hoping we can entice more people over to blockchain , because what people need is a feasible way to cooperate together. There are so many who the current system not only doesn't represent, but completely and utterly fails. All those people need a way to cooperate together and build a system that works for them (us).

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It will be evolutionary. Most are not aware of what takes place, especially with money. Few are aware of the transition we had from the central bank system to Eurodollar. This is going to be the subject of an upcoming post.

Keep this in mind as we go forward. Each transaction within crypto is one not in the existing system. Just like each online sale is one not in the physical stores. It didnt happen all at once but over the past two decades, had a huge impact.

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I hope cryptocurrencies will help the people in lower class.

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That is the wrong thinking in my view.

With cryptocurrency, there are going to be those who take advantage of it and those who do not. Even though there is tremendous opportunity, we are going to see those who are left behind simply because they do not adapt.

We see it with Hive right now. This offers a huge opportunity for people. How many are taking advantage by even posting some comments to earn a few rewards?

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Activity on Hive picks up when markets are hot, then activity on Hive drops when markets go cold. I don't know why this is, but that's been the tendency.

It's during the times markets go cold when we should be more active on Hive. There's HIVE tokens waiting to be collected, and only the Hivers who are active at this time can earn that HIVE.

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This is true because people can be short sighted, and some do not know and understand the cyclic nature of cryptocurrency, byut it's cyclic nature and seeming demise on linear charts, hids the steady longterm growth revealed on logrhythmic charts. The big picture of steady longterm growth is hidden by the short term nature of linear charts.

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Your point is well taken. Cryptocurrency is an equal opportunity employer for the rich and poor, young and old. It invites all who dare to look for something different, and boldly go where they have not gone before.

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The beauty of cryptocurrency and a system like Hive and Leofinance is that it will help the motivated, the doers, those who look beyond the current system of giving away their time and attention for free and seek out a whole new world, where time and attention pay dividends.

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Exciting times ahead indeed Task, I like your narrative of eye balls bring vital. Gone are the days sites promising payments to watch videos or click on adds without getting a cent for your time.

We are beginning to see eye balls being paid for attention like we have on Hive and all that is need is a smartphone/laptop and internet access.

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As people get more options, their attention becomes more valuable. This is something that I guess was always the case. However, it is being taken to another level.

The question is when do we see a massive shift. Advertising is the main commercial application for the Internet. Yet the ones watching the ads are not the ones benefitting.

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Does this mean that BAT (Basic Attention Token) is more attractive today than it was a year ago and when it was first launched? I know there was a lot of skepticism around the idea in its early days, and it's still a hassle to mine.

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I think the BAT token has great potential, in terms of monetizing attention.

But in a way it is only one step removed from providing your attention for free.

And perhaps that is why it has failed to catch fire...

Perhaps it is not enough?

Hive and Leofinance are many steps away, and are truly different.

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When it comes to being earned by "mining," HBIT is better than BAT. On the other hand, BAT is great if it can be bought or sold.

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This is a good query..when will people wake up and see what Hive and Leofinance have to offer? What will it take to reach them? Invariably it's marketing or news stories which are also marketing, and perhaps we must ne the intruments of marketing.

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Exactly, eyeballs are important because people need to know we are here.

So spread the word near and far, copy and past URL of artiles you like into Twitter, Facebook, TikTok and bring the narrative that time and attention are valuable.

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Very true. This may look like just words today. One day we will turn back and reflect on the opportunity right before us and will watch those who put in the extra effort rippe the benefits of the future being created . Hive is a testament of the possibility of a peer to peer network as crypto was designed. And many will come to learn from this unfortunately it will be too late for those that won't catch up early

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We are dealing with the next generation in the evolution of money. There is a road map fortunately with the shadow money system that dominated for the last 70 years.

Now it is time for us to digitize that and remove the banks from controlling the ledger. This is where blockchain comes in.

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Very true and what's amazing is the brilliant minds at base of this development. Quick to identify what missing from earlier blockchains and make advancencements regarding scalability and interoperability. It's an exciting future to watch unfold

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Agree @mintfinch

Hive is a testament of the possibility of a peer to peer network as crypto was designed.

Hive is an example of what can become of a simple idea of sending money from person to person without middlemen, and building businesses and ideas on that monetary system, and watching it evolve.

Hive takes the concept of peer to peer transactions and asks: WHat else can we do with this?

@shortsegments

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crypto is going to change the world bank style... there are many people , who are billionaire with crypto, hope we will be also one day,,, nice article, boom boom crypto

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@yousafharoonkhan
True if we participate, utilize it and build businesses on it.The future is up to us to spread the word, patronize the businesses, and show the world that things can be different, and then they will be different.

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Speaking of building new class of investors, this is so true, people earn tokens for accomplishing micro tasks, they take these tokens and supercharge their value by putting them in sound DeFi platforms. They grow. Sweet stuff.

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That is how I see it. The fact DeFi will be interwoven through everything means that those tokens earned can be put to work.

We are entering the financialization of everything.

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This may be one way cryptocurrency can be used to handle the mundane case of physical infrastructure construction and maintenance: we earn whatever crypto we earn, it goes into DeFi, it gets re-routed into a DeFi pool optimized for this activity, then DeFi does what DeFi does, and the infrastructure is financed and maintained. If this is correct, then it beats the current methods of tolls or taxation (or tolls as taxes).

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@magnacarta

Interesting thought.

The system pays for the system, then the system pays for the maintenance, and perhaps the system pays for it's own expansion and evolution?

@shortsegments

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The cryptocurrency would need to be an inflationary cryptocurrency for this use case to work, so that rules out both Bitcoin and Litecoin. Combine this with putting it to work in DeFi, and it could solve a much-needed need.

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True
We have the opportunity to earn capitol by providing our time and attention in a space where we are paid for that time and attention.

And then we have the opportunity to invest that money in defi, and generate longterm income, and if we are smart, multiple streams of income.

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@mistakili
Yes the system provides amazing opportunities to grow your money in defi, and grow your business on blockchain with new peer to peer interaction around money.

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I find two use cases really interesting. One where people chat with each other and turn it into podcast. And other people pay or vote for that to reward. I mean think about it, in offline world this is never possible. Direct consumer benefit to the chatters was not possible before, but now we have that specific class.

Another thing that I have learned from my experience is the type of people who are playing games where they earn rewards which pay their bills. And some even may bridge the 3rd world or 2nd world wage gap by earning enough that lasts minimum 6 months to 1 year.

This was not possible before even with outsourcing or offshore company recruitment. Instead crypto made wealth move from one border to another.

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Both are remarkable breakthroughs. And we still are in the early days.

What happens with another half decade of innovation and experimentation? We are going to see a ton of changes happening at that time.

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Agreed @taskmaster4450le

In time new businesses will be built upon Hive and LEofinance, using the existing infrastructure, but just new ideas.

These businesses will generate income, and they will create opportunities for people to provide their time and attention, and get paid.

Others will come and see the same system and see new possibilities.Then they will create new things, which will bring value, and others will reward them.

The key I think, will be the peer to peer nature of the interactions and the ability of peers to reward value where they find it, directly to those who create value.

It will be an endless realm of possibilitites, created by a simple construct; create value, reward value, create content, reward content, provide time and attention, be rewarded for time and attention. Rinse and repeat.

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@devpress
Good odeas.
Thought and creativity will build many businesses and potential streams of income on this system, as value is rewarded by those who see value. And as many notions of value there are in the world, it provides enedless possibilitites.
@shortsegments

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The Millionaire Next Door is going to be someone who using nothing more than a phone or laptop.

Gosh.... I don't know why I love this part more than the rest.

Probably because this book had made me learn to live on budget and prosper without feeling as though I am being left out of anything else the world or my friends are doing.

Or maybe, it's because the last part 'is going to be someone who using nothing more than a phone or laptop.' is a reality that I see myself living in the next few years.

Well done, cryptocurrency, you have changed the dynamics of things around here. 💕💕❤️❤️

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Or maybe, it's because the last part 'is going to be someone who using nothing more than a phone or laptop.' is a reality that I see myself living in the next few years.

It certainly is a possibility for so many who are involved now since we are in the very early days. Over the next few years, we all will have opportunities that can really take off.

So by building now, we are going to benefit a great deal later.

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@taskmaster4450le
I love this aspect of the comments section; everyone comes to this article from a different place, and sees value in different parts, and then we can all learn from those different points of view

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@iskafan

Perhaps it speaks to you because it represents the dream, that a person with the drive to learn new things and the motivation to put in the work can achieve great heights , using simple tools?

Thats what it speaks to me, my heart and my mind.
:)
@shortsegments

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And I agree with you. Anyone with the drive can do anything even if he has a simple tool at his disposal..... As long as he has the drive, nothing can stop him.

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I love this aspect of the comments section; everyone comes to this article from a different place, and sees value in different parts, and then we can all learn from those different points of view special things about snippets of the article.
:)

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I am glad you love it. Besides, that's what taskmaster's posts does.... Give us a lot of things to think about under one umbrella. He is good at it. I give him the applaud.

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The wealth class crypto creates in the scheme of things is such a distinct one . Talk about an avenue that creates individuals with the opportunity to make passive income without any form of control by any external body , crypto does ticks that box .

Cryptocurrency offers a way for the unbanked to access financial services without having to go through a centralized authority. There are many reasons a person may be unable or unwilling to get a traditional bank account. Using cryptocurrency can allow people who don't use traditional banking services to easily make online transactions or send money to loved ones.

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Absolutely, crypto will tremendously change the socio-economic relations of the society, in the first place it will produce a new middle class economically, and that will transform into political decentralization if we can sustain those middle class. Tokenization is a balanced mix of socialism and capitalism. No other ecosystem can bring a truel democracy and liberalism like Crypto.

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It is true that cryptocurrencies have a great future ahead of them and that those of us who are pioneers will enjoy the honey that this implies (the honey of success), which is the benefit of being pioneers.

Cryptocurrencies have changed, are changing and will continue to change so many paradigms in the world that, today, we can only see "the tip of the iceberg" of the success and financial growth to come. As I see it, even the wildest of projections can remain tiny, because economic growth will be so exponential that it is impossible to predict with any level of certainty. What we know without a doubt is that everything will change and the levels of wealth will be higher and higher for everyone on the planet, all thanks to the level of connectivity that the internet gives us and the freedom and benefits that cryptocurrencies offer us.

Excellent post, it made me think about many interesting things. Greetings.

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You are right, in the overgrowing world we can't earn without the internet, we should explore the world and new opportunities in the world.

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The Millionaire Next Door is going to be someone who using nothing more than a phone or laptop.

There is definitely a different sort of energy around crypto in these early days. It's exciting!

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I am just wondering what will happen to crypto as the space develops because I realize that anyone can create something. It just seems like many other people are investing in a lot of projects that won't really succeed.

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Pareto's Law in action: 80% of the work is done by 20% of the people or tools. Of that 20%, 80% will do far more then the remaining 20% of that number. And so on. This is why much of what's out there is crap and will fail while the winners will win big.

As other cryptocurrency projects fail, Hive will stay. Over time, people will notice that "There must be something to that Hive thing I keep seeing. Maybe I should check it out."

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I hope we are read and able to develop or make irrelevant some of the ways the would-be controllers will try to exclude people from all of this. It’s going to be difficult but I’m hopeful that we can do it. Decentralized internet companies are certainly going to be needed, so we can’t be cut off from the world if we don’t have the accepted view or medical treatment. I have faith we can maintain some abilities!

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Decentralized Internet infrastructure will be the next frontier so that people retain access to a decentralized communications environment. This includes not only the data centers and the cables connecting them to us but also payment services, legal services, and "banking" services. Let's remember what happened with the Canadian truckers (who will try it again this summer, BTW).

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That’s great the truckers are going for it again this summer! I will have to figure out where to see that info. The truckers are definitely the ones in the forefront of my mind when I was writing this.

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I agree that this is truly a new emerging class of people who work their own business from home or abroad. I a truly decentralized fashion, these people will not be bound to a company, city or country.

As we see here on Leofinance people can earn from commenting alone on the content of others. The term curators is merely a synonym for content consumer.

The truly amazing thing is that this ecosystem develops complex financial instruments to attract investors and pumps the price of the token, it will also make it attractive to content consumers and content producers, who will enter the ecosystem, buy the token, and further pump it's price.

Utility is truly a core component of value, and utility of being needed to participate in the economy as a content producer or content consumer is self evident.

Amazing!

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