Have you ever noticed that lists such as the Forbes Richest 400 does not list incomes? Why is that?
I believe this is a very important point that we need to make. Crypto-economics is going to provide opportunities to people that they presently do not enjoy. We are in the very early phases on programmable money, something that will expand as innovation starts to enter the marketplace.
That said, there are lessons we can learn from the present system.
When it comes to the elite, few talk about incomes. Outside athletes and, perhaps, movie stars, the conversation tends to center around wealth as opposed to earnings.
For example, we know Warren Buffett is one of the richest men in the world. However, how much is his salary? Even more importantly, what does he make a year?
The answer is that it really doesn't matter. The numbers are continually fluctuating. His salary, the last time I read it, was $100,000. This is what he got paid to run Berkshire Hathaway. Of course, his compensation is multi-faceted with salary being a small piece of the puzzle.
So why does any of this matter?
Personally, I believe we have an opportunity to become very wealthy ourselves. Cryptocurrency is going to provide opportunities going forward that will reward early adopters in a massive way. This, however, is about a lot more than Lambos and beach houses.
One of the main reasons this is important is because we all can be an example for those who follow. Adoption is greatly enhanced when average people can show how they did it. With much of the planet suffering financially, this is a solution that is greatly needed.
Certainly, if we take the long view, there might come a time when we live in a post-monetary world. Abundance is going to be the norm in the future. Before we arrive at that point, we need to realize that the monetary system will remain in place. Thus, the more we can enable to participate in a large way, the better for all of humanity.
One of the keys between the wealthy and everyone else is where focus is directed. Most people concentrate upon how much money one makes. The wealthy, seek to different ways to maximize wealth. Making those moves that increase wealth as opposed to just up one's income makes a huge difference.
Those who focus upon income tend not to have enough money to pay all their bills let alone to increase their holdings of wealth. This, of course, makes it impossible to fund research into cures of some of the things that ail society.
Crypto-economics seeks to change all of this. By erecting another system of distribution outside of the normal "time for money" model so many of us are familiar with, we can see the onset of this transformation.
Naturally, this necessitates a shift in our mindset. Are we focusing upon those actions that will increase the amount of our holdings? Do we see our accounts getting bigger over time as we stake tokens and involve ourselves in those actions that provide a return such as curation?
Many get discourage because they look at raw numbers. Once again, we see a difference with the wealthy. They look at things in terms of a return. Understanding concepts such as compounding enables them to stick with plans that provide the results they seek.
When looking at things over a long period of time, the amount of money that is generated by consistent returns gets rather large. Warren Buffett is considered the greatest investor of all time since he was able to generate a 20% return for nearly 50 years. That is how billions are created.
Once again, until we reach a post monetary world, we are still going to battle the scarcity principle we are so accustomed with. With the spread of crypto-economics, we will see a shift in the opposite direction. This is going to require individuals to lead the way into the new era.
The world of cryptocurrency is just starting to create the platforms to be able to achieve this end. We are embarking upon a new phase of cryptocurrency with decentralized finance. People are starting to put crypto to work in an effort to get a return. This will further the position of the collective, aiding in the shift away from our present system.
It will not take 100% conversion for us to make a significant impact. We see the devastation in the retail sector due to online sales yet that total is only about 10% of the total. Imagine if 10% of the wealth is shifted from our present system to those operating under the realm of crypto-economics.
Couple this with the fact that this group of people seek to alter the path for all who enter the realm after, and we can see the impact that this will have.
It all starts with one example for others to follow. Will we be the ones to lead the way into the new system?
We can all make a difference. The path of humanity is being shifted with this new paradigm.
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