Breaking the reliance, relying on community

in investing •  5 days ago 

It looks like we are heading into a little period of dropping prices, but I don't think this one is going to be long-lived - but what do I know :) There seems to be a lot of indecision around the short-term movements of the market even though the long-term prognosis is consistently upward. I have a little in transfer over to Coinbase and hopefully I can pick something up on the dip.

Sometimes I think about how much I have transferred into crypto over the last year and wonder what it would feel like to lose it all, I am guessing not great. However, I also have thought about all of the useless stuff I have bought during my lifetime and if I could collect it all together right now, the amount put into crypto pales in comparison and, very, very little of what I bought in the past had any chance of increasing in value - ever.

I would predict that if we all looked at what we spent our disposable income on, only a fraction of it would be considered money well spent. This is something that financial institutions tend not to have much of an issue with as essentially every penny that comes under their control gets leveraged to make it two, four or eight more pennies. While they make plenty of mistakes, their intention is only ever to increase their holdings.

For most of us and for at least most of my life, I have been in a consumer trap that has meant that even though I have never been that heavily in debt, I haven't used my resources in a manner that looks to increase my own wealth. I wonder what would happen if we all had the same skills and mindset as the banks, would we be able to create an economy with less spread in wealth between high and low?

I don't know, but I would think that a material consumer mindset is the antithesis of a value growth mindset as one consumes disposable while the other invests into what is consumed. In the economy we have built there is of course an opportunity cost of using resources and while my butt might look cute in that new pair of jeans, that 100€ can't be used to put into something that has a chance of generating additional value.

This is something that interests me a lot about the future of Steem as there is the potential for return on the investment into consumptive activities - a return on what we are currently doing and is an outgoing cost that comes with little generative opportunity. It doesn't even have to return much, it just has to start returning something and once it does, the entire concept of consumption changes.

Not only that, the world of investment changes also as people are able to increasingly invest into their own experience which essentially means that every consumer becomes an investor with a business that they themselves support. Of course, the decision of whether an entrepreneur supports their own business or not is up to the individual meaning there will be many ranges of outcomes still, but I do think there is a potential to shake up the model of the economy.

The model we currently have is obviously broken and needs a complete overhaul because the world has changed so significantly from the time when the economic tools were created, that they are no longer relevant as tools for the job at all. It is kind of like building a house with a hammer, and then trying to use the same hammer to fix a broken watch.

The transactions of the world economy used to be more controllable, but with the expansion of the way business operates and how they are able to move value across the world based on tax breaks and visibility, the tools of control that once reigned them in are no longer present.

A government that used to hold the many transactional reigns, now only hold a fraction of once they once did, the ones within their borders - the ones that we earn as salaries, the taxes that impact our purchases, the costs they can place upon us as individuals. Corporations are increasingly moving out of their circle of control and, they have the express purpose of wealth generation for their owners, regardless of the cost in other respects.

This has fundamentally changed the way the world economy is structured and has created an environment where banks and a few corporations run free at the expense of those it needs to consume their products. As they increase their wealth, we as consumers suffer the crush of the supply chains as well as the effects of inflation on prices. While they earn more to offset the inflation plus add some gains, we earn less and are increasingly falling behind. Collapse is coming.

When and where it will start is still a little up in the air, but it is coming and while I think that when it comes the majority of us are going to suffer, I believe that adding some value into crypto and backing my own business model as an owner/ consumer/ investor is a much better approach than leaving my future in the hands of increasingly impotent governments and increasingly centralizing corporations. While it might still fail, at least there is a chance of value generation on both the investment in and the future actions of the industry I am investing into.

In the not too distant future, I think that the majority of earners in the world are going to have some percentage of income coming through their online activities and social interactions and this will increase rapidly. Some will move faster than others, some will have better ideas than others, some will fail to move at all, some ideas will fail miserably - but that is life in any economy. I am hoping that the difference will be that a great deal more of the global population can take part as more than the cattle class consumer we are now and have the possibility to invest themselves into their own ownership model that is simultaneously tied to the models of others in their community.

At the moment, social communities are outside of the benefits of consumption, but the economy is dependent on them to consume and drive trends. In time, those communities will increasingly drive the economy and own the benefits of their own economic activities. I think that a massive part of the value proposition of Steem is something that is often overlooked, and that is the ability for fast, free transactions to anywhere in the world, no matter who you are.

That in itself is cause for a revolution.

Taraz
[ a Steem original ]

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I long ago reconciled myself to not considering my alts and BTC as an investment anymore and now think of them as shiny toys which I might be able to sell at some point to an idiot :0)

How much do you want for them?

Lol!

There are thousands of hours of entertainment value over the last 3 years to consider too.

I do remember the morning checks or6 my portfolio fondly. That stomach clenching terror that yes indeed, it can drop that much overnight... Again!!

Good Times.

It is about the only ab workout I get these days.

What You are definitely right about is amount of crap we are buying through our life, while out interests and hobbies have the tendency always to change... Not to forget about modern world with aggressive marketing and advertisement telling us.. BUY BUY BUY.... :)
Honestly speaking for the last few years I got rid of a lot of OLD CRAP and almost not buying anything, except related to photography. Though here also trying to spend much less than before :)

Not to forget about modern world with aggressive marketing and advertisement telling us.. BUY BUY BUY.... :)

What I like about crypto shill is at least there is the chance that it will go up :D

and almost not buying anything, except related to photography.

One of the world's largest money pits!!! :P

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are you still picking up steem or other crypto?

bit of both, but with so much Steem in my holdings I am trying to edge into BTC and a little ETH, although I used some eth to buy some Gods unchained cards, that I will never use :D

same, In comparison I have to much steem and am edging into BTC but I am using my gods unchained cards... waiting for the market (I believe its set up but its confusing now)

I think that I am not in a bad position considering I believe that Steem will do well, but I also want to ride some hedges that I consider are important for the growth of crypto in general too.

What a nice clear view of the future of banks and bitcoin. It's just a matter of time till the banks bow to the requirements of the population We want the freedom to transact anywhere at any time and keep and augment our equity at a pace that works for the individual.

It is going to be interesting once the concept of free transactions and porpus economic borders catches on for real.

Hi @tarazkp
Interesting points. I am currently in the middle of a what I call “My mid-life garage sale”. I have began selling many of my goods that I have stockpiled in my home and are gathering dust as has my wife. We have been truly amazed at the amount of capital we have raised and which she is using to renovate various sections of the house. You can probably imagine my joy of Not having to spend any money on those projects, except the occasional shortfall.

It is very interesting how much we accumulate as we go around the sun each year and how little we sometimes use these things, but one man’s garbage is another man’s treasure and with eBay and Amazon.com providing a safe avenue for its disposal of these items away they go. 😀

✍🏼 Shortsegments

I am thinking about doing more of the same. We tend to clear out a couple times a year but we don't actually buy that much unnecessary of late as the cost of our daughter's healthcare was unexpected. However, it is always good to set the habit of minimal lifestyle at every entry point possible :)

In my project there’s a sudden reset (due to natural occurrences rather than war or anything tropey like that). I’d like the real world collapse to be much less violent 😅

I don’t think I could tolerate a bank/corporation mindset. I mean one of the many reasons I ended up giving up my business was because the mindset I needed for it to succeed was pretty much the polar opposite of how I think and generally want to operate.

As I’ve said to you before, steem is much more my speed 😆

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I mean one of the many reasons I ended up giving up my business was because the mindset I needed for it to succeed was pretty much the polar opposite of how I think and generally want to operate.

I think that a micro business can survive without too much maximizing mindset, but to grow past a certain point it becomes increasingly difficult and in the end, one starts to see everyone as a potential lveragable asset. I have seen it many times over the years, but it isn't my way.

I know. I bought another 1000 STEEM yesterday because I couldn't justify not buying more at this price. After watching steemfest I'm even more convinced this is the best place to be. I might lose it all but I've spent thousand on holidays before and hundreds out drinking at the weekend so it pales in comparison to this shiny toy we have here to play with and all the hours it has entertained us for.

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