Boring theoretical read only for persons interested in digital currency and enviromental balence.
My thoughts on Digital currency.
- It is a requirement for moving the human species forward.
- Establishing value of human achievments is critical to market flexibility.
- A simple trading mechanism must exisit for goods to exchange hands.
- The current system is overly complex due to the exchange between real world currency, power and political climate into virtual digital mediums requireing excessive resrouces to process in both cpu cycles and kW/hrs.
- Taxation of flexible commodities in digital space requires digital taxation laws which current poloticians will try to impose real currency values that tend to be more fixed value.
- Warehousing data and data exchange wether in physical storage or net format will continue to grow exponentially.
- Protecting indiviual property is a concern.
- Public domain intellectual property, free, safe and collectively acceptable.
Summary thoughts
We are facing a situation like in 2008 where inflated property perchaser were givin the ability to buy huge homes they could not afford. Instead everyone is now given the ability to give real world money to people creating digital nfts. The value of which is in my opion highly over inflated. Groups generating large amount of virtual assest that if not balence with conceptual or real world value will deflate cuasing yet another global economic drought.
Things to be improved on
- Reduce drain on powergrid, and global heat emissions.
- Increase transaction processing speed and reliablilty in all places on the globe. Be that availablity of funds or access to digital or real world creations and assests.
- Fruad and bloat content prevention.
- Education of individuals in every sector. Base enviromental costs of 1 kW/hr = around 1 pound of co2 emissions in addition to heat generated by the electronics use and the original energy use. Although minor at this point by indiviual standards. But Countries/areas still buringing coal for power this cost is unacceptable.
- Data steaming waste. Internet, web and all sectors of the digital world should commit to effecient data transmission policies along with site desingers and content creating apps/software/etc should be created with similar goals in mind. The amount of useless code, data and etc being sent every day at somepoint will be a drain on the system we cant handle or afford.
- Digital currency standardization. (Huge topic not going to discuss here)
If the internet is left unregulated as many think it should be, we will definately see a huge economic depression when the virtual bubbles burst. In addition or conversely taxation and economic weighting is not control but a way to drain additional value and profit. True regulation of digital content is enviromental resposnibilty and the prevention of free reigh profiteering and valueless property proliferation.
Well it would be nice if less spam is generated sorry for my additional contribution.