Cryptocurrency Staking Will Accelerate The Time Price Of Resources

in LeoFinance2 years ago

The last half century witnessed the greatest change in human history. We saw technological advancements that improved the lives of billions of people. This might come as a shock to many people who believe the mainstream narrative.

Throughout these articles, we present how things really are operating along with the advances that are taking place. To get a grasp of what is going on, we need to have a realistic framework about what is taking place. Sadly, many with the ability to garner attention use their platforms to promote gloom, uncertainty, ideologies, and outright lies.

Here we are going to look at things in a way that really show how much different life is from 1980. We will couple this with how cryptocurrency is shaping up. Blockchain is likely to bring a rise in the middle class, something that was lost over the last few decades.

All of this flies in the face of what we hear from politicians, gold bugs, and the talking heads on networks such as CNBC.

Time Price

Here is a fun exercise:

How much sugar could you get today compared to 1850 for each hour of work?

Give this some thought. Perhaps we could do better in a shorter time frame. Take the same question and start from 1980: how much sugar could you get today for each hour worked as compared to 1980?

Of course, with inflation, a concept misunderstood by most, it certainly would be less. After all, everything keeps going up.

We find the opposite is true. In fact, this is not only the case for sugar, it is for most commodities.

The answer to the question from 1850 is more than 200. For the amount of sugar each hour worked in 1950 would net out more than 200 times that amount.

As for the last 40 years, we will look at this chart.

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Source

Since 1980, the amount of sugar for each hour worked, increased by 7.25 times. This means we get over 600% more sugar

These are global numbers. This was compiled using the pricing of commodities on the international markets and the wages from countries around the world.

Going back to the chart, we see the average for all the commodities at 4.03. This means we have a 300% increase for each hour. Here is where abundance is entering society.

Time is the only constant for each of us. We all get 24 hours in a day. When working, each hour is comprised of 60 minutes, meaning that is our earning power. How much we earn per hour will vary but the time is constant.

Hence, when we price basic commodities in time, we see how vastly different our viewpoint can be. Keep in mind, the period we are discussing saw a massive increase in global population, something that we were told was going to put a strain on resources. If the demand is increasing, how can the time price be dropping?

The answer is simple: knowledge and innovation.

Humans get better are producing more with less. It really is that simple.

Cryptocurrency Puts This Trend On Steroids

Few truly understand how poor people truly were historically. They also fail to see how slow change was. It is only in the last 300 years or so that we saw any change. For centuries, families living basically as those generations before them.

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Source

Notice how it was basically flat for much of our time on this planet.

Let us look at it another way.

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Source

Looking at the first chart, we see it takes, on average, 20 years to double our abundance. When we see the historical context, previous doublings could have taken thousands of years. This shows how quickly things are truly changing.

So where does cryptocurrency enter into this?

Once we understand the basic concept within this framework, we can see how staking of cryptocurrency could massively accelerate things.

The basic premise uses time, which is constant, and pricing of both labor and commodities. Thus by having a standard unit of measure of each commodity, we simply establish pricing in time as opposed to currency. That variable cancels out itself in our equations as both price and labor contains it.

Here we are left with the time price of each item.

What happens, however, if we radically alter the components by taking income (the wage component) and increasing it significantly? We know the human component of knowledge keeps forging ahead. This is evident over the last 200 years. This does not show any signs of slowing down. If anything, it is only accelerating.

We know technology, over the medium to long term, drives prices down. Thus, if we increase the wage component, this will put this entire concept on steroids.

Enter cryptocurrency.

The entire premise of Web 3.0 is going to change these equations completely. Most are aware that one of the keys to wealth is to "put money to work". From this perspective, one of the easiest avenues for this is staking cryptocurrency. This is especially true if the coins or tokens were the result of rewards for some type of activity performed. The incentive based model is very powerful. As it expands, we could see billions of people having the income side of the model altered a great deal.

Of course, the biggest change, in percentage, comes from the bottom rungs of society. It is hard for someone like Elon Musk to double his net worth. However, we can see a massive difference if someone making $10,000 per year is able to generate the same amount via cryptocurrency operations.

Change The Comparisons

Most of us naturally compare ourselves to people like Musk and others. This does not but breed resentment and anger. The reality is, with the exception of a few countries, you are light years ahead of your ancestors, even going back a few generations. Anyone reading these works obviously has the ability to engage via the Internet, something that did not exist for the majority of the world in 1980.

When we look at how poor people truly were just a few centuries ago. Here is one final example that is worthy of considering.

Artificial light changed the world. Without it, the ability to operate outside the hours of sunlight is vastly diminished. Therefore, the cost of light is an important component to our abundance. It is something that most take for granted.

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One hour of light (referred to as the quantity of light shed by a 100 watt bulb in one hour) cost 3200 times as much in 1800 in England than it does today, amounting to 130 euros back then (or a little more than 150 dollars). In 1900, it still cost 4 euros (close to 5 dollars). In the year 2000, we arrived at a cost of 4 euro cents (5 U.S. cents).

Source

If we think about it in this context, we see how even a small stake in cryptocurrency is large in comparison. Getting a payout of 5 cents nets about 1 hour of light, the equivalent of $150 in 1800.

In other words, putting 1 Hive Backed Dollar (HBD) in savings will provide us around 4 hours worth of light per year, or the same as $600 a couple hundred years ago.

This last image sums it all up:

image.png

Source

Our population, globally, increased by 75% yet our abundance of resources is up over 300%, a total of over 600%.

When cryptocurrency takes off, it is likely the next 20 years see this change even further. As more people are able to get involved at the funding and investing level, we will see another leg up in human ingenuity.

Technology is really nothing more than the application (fruition) of the increase in human knowledge. As we move deeper into the digital realm, we are seeing this explode.

In summary, cryptocurrency and blockchain are nothing more than pieces in a much larger trend that started centuries ago.


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The rewards earned on this comment will go directly to the people( @taskmaster4450le, @allentaylor, @rzc24-nftbbg, @zestimony, @successforall ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

This is an awesome perspective. I like how you tied the economics of cryptocurrencies to time and money historically. It's economic principles, and they work no matter what the system.

Well the idea of staking cryptocurrency, especially with something like the HBD savings where more HBD is created, which is needed, without us investing time.

It adds to our totals without having to exchange time for money like most of us are caught up in.

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In the near future there's truly going to be a massive change and most people will have to realize later that their time and little data should be used to explore the Web 3 sites
It's just a matter of time, the down trend will become a massive spike for most of us ... Thanks for your insight ❤️✌️

Web 3.0 is going to provide a very interesting perspective for people. The opportunities are going to be enormous considering it is probable that DeFi will be interwoven throughout most of Web 3.0.

This means people will be incentived to do certain things, receive rewards, and then can put that to work through DeFi.

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I'll really need a good time to focus and go through the post to get a better understanding of the DeFi, thanks allot for stopping by

Very interesting. Those are some pretty telling charts. I wasn't expecting the price to go up, but I figured it was pretty much going to stay the same. I probably wouldn't have guessed that it was actually going to go down. With innovation and reduced costs versus increased production I can see why that would be the case though.

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Yes when we remove the money variable, by using measurements of the commodity versus an hour worked, we see how things progress. It is why there is so much more abundance than 200 years ago.

Imagine having to work 3200 times longer to get the same amount of light as you with an hour worth of work today.

Just think of even fuel. While the price of a gallon of gas is up compared to a few years ago, how does it stand versus a gallon of whale oil (which was used for light and I dont think for power).

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Good old whale oil. I think they used it in street lamps if I remember right. Probably lots of other things too. Yeah, there was something I thought of when you mentioned light, but I lost what it was now. I just stepped away from my computer for a sec to see if I could jog my memory, but it is gone now...

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It might not be clear to many but we are truly fortunate to be living through this time (at least financially). With our minds we create the technology that help make our lives better.

20 years from now, we might look back and realize how archaic things were in 2020. That is how fast things are changing.

Consider the internet and computing. Look back at 2000 and see where things changed.

Look at this gem:

image.png

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It's hard to fully process how fast things are changing. What will happen to those who can't keep up?

Oh wow! It was indeed a gem back then, few had it in their homes. Many didn't even know how to use it.

Realistically who can keep up? The fact is no single person can keep up on it all. There are so many different areas we are seeing progress.

I think that is what has people in a gloom and doom state. Things are changing, with disruption taking place, and lives are affected.

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That is a beauty! It has a floppy drive, remember those things, haha ;)
I had a Dell very similar to that ✌️

It's all engraved in our mindset truly... Let's keep doing the needful while these folks will become mentees later on

I think mentoring them wouldn't be an easy task. Too much knowledge amd understanding gap. We will have to be patient with them.

For sure, patient is one sure thing during teaching because some may be slow learners and some fast... Every learning process takes time and patience

Some of the things we take for granted today like the cost of light back then is fascinating, fast forward we now have light in abundance.

Another decade or two from now those cents of tokens we are stacking up potentially stands the chance of being our source of wealth.

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I have long theorized that the next 20 years will see a massive decrease in the price of stuff due to technology along with an increase in the money people are pulling in (mostly due to cryptocurrency and other automation projects).

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And it will be just awesome that by then, we'll be super wealthy 🤑🤑

Old wealthy folk lol!

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Roaming the street of awesomeness 😁😁

I was just so amazed doing the calculations of the sugar back in 1850 to 1980 it was just so incredible, now I can't imagine how much it would be in our world today.

Technology has made things really easy and faster for us, the technology has made us be able to conserve so much energy than usual.

There are many more things that are going to advanced in the crypto sphere and we just have to braise ourselves.

Thank you so much for taking us down history road.

Honestly when one sees some of these calculations I just wonder where the ignorant ones are

You can imagine someone who's needy, poor and beggarly telling you crypto is not their thing...

That was how I was about two years ago, lolz but thank God for Hive I get to learn about how important crypto is to our world today although it's so sad that not so many have believed it exists.

But at least you left the ignorance circle and faced the reality of learning more, but some person's despite the preaching and efforts to make them understand, they'll never give ears

But if it's their pastor or spiritual leader that introduced them, you'll see them running towards it like their lives depends on it
Poor folks

Yes, that's true I'm happy I came out from among them, hehe. Well you are not far from the truth, they prefer to hear prophecy than to face reality, too bad.

Over bad oo, because they steady milking them like cow 🐄

Hahaha, Lolz, that's funny but just the truth 😅😅

All of this flies in the face of what we hear from politicians, gold bugs, and the talking heads on networks such as CNBC.

Even gold bugs are included. 😆

Most are aware that one of the keys to wealth is to "put money to work". From this perspective, one of the easiest avenues for this is staking cryptocurrency. This is especially true if the coins or tokens were the result of rewards for some type of activity performed. The incentive based model is very powerful.

The idea of staking is still very young for me. I only learned about this a year ago when I unintentionally stumbled upon Hive via Splinterlands. At first, I was clueless about the meaning of the term. All I know about the financial market is trading stocks. Since the time Hive caught my attention, I lost interest in the equity market. I only hold just one stock in the telecom sector.

Most of us naturally compare ourselves to people like Musk and others. This does not but breed resentment and anger. The reality is, with the exception of a few countries, you are light years ahead of your ancestors, even going back a few generations. Anyone reading these works obviously has the ability to engage via the Internet, something that did not exist for the majority of the world in 1980.

But many intellectuals would sentimentalize the past arguing that the old days were far better than what we have now.

Our population, globally, increased by 75% yet our abundance of resources is up over 300%, a total of over 600%.

This reminds me of this quote from the book The Anticapitalistic Mentality:

There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population. The greater the amount of capital invested per head of the worker, the more and the better goods can be produced and consumed. This is what capitalism, the much abused profit system, has brought about and brings about daily anew. Yet, most present-day governments and political parties are eager to destroy this system (p. 5).

!CTP

!LUV

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Technology is making the world a better place, if we look back in time we will see that technology has made so many things better. I believe blockchain technology will do the same and time will tell

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That's definitely a very interesting and eye-opening perspective.

Then again, the "wrinkle" in this picture is the assumption that our "perceived needs" have ramained constant, over the same time period. The challenge is that individual perceptions of "what we should have/need in our lives" has changed just about as much, to the point where a large proportion of the population eternally labors under the illusion of feeling like they "just don't have enough."

Even in older people's lifetimes, that holds true: Consider, for example, "communications and entertainment." In 1970, the bills associated was for basic phone service and a few stamps to mail letters; you had a TV and pointed "rabbit ears" at the sky to get a snowy image. In 2020, the bills are cell service, cable/satellite TV, possibly a landline, high speed Internet and maybe a few others. These are the things we feel we "need." In 1970, we were paying $30 for the perceived "basics" of the time, in 2020, we're paying maybe $400+ for the perceived "basics" of our time.

Sure, inflation has had an effect, but we also keep moving the "goalposts" so many people eternally surf the edge of "barely making it." I see the primary challenge as getting beyond the pervasive need to "catch up."

=^..^=

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After reading the fantastic, eye opening post by Taskmaster4450 I can only say: Pour some sugar on me

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