With the advancement in automation, many are discussing what happens to jobs. As we see the pace of things picking up, we can see how hundreds of millions of jobs globally might be going away. While the pace is still somewhat subdued, it is expected to accelerate the second half of this decade.
This leads everyone to ask, what are people going to do?
Through the 1800s, the main focus was agriculture. This is where you found most people. As we flipped into the next century, we saw the Industrial Revolution send millions working in manufacturing.
What will it be in the 2000s?
Cryptocurrency might provide the answer to that. Once again, we can see the early stages of what is going to expand over the rest of this decade. It is also where we can see how most people might be "employed".
The job for the 2000s might well be one of investor. It is something that cryptocurrency is leading everyone towards.
How is this the case?
If we think about things from a basic level, we see where each of us is funneled into this arena. While many might not consider it as such, this is certainly the case.
An individual comes to a blockchain like Hive and uses a particular application. Whatever that application pertains to, the activity on there could result in some type of reward. In most instances it is a token/coin of some kind.
Here is where the individual has a decision to make. Does he or she keep said token of exchange it for something else? Is it staked to generate a greater return or does one simply keep it liquid?
Essentially, cryptocurrency is making everyone an investor now.
Questions like those above are the same thing investors in traditional markets are faced with on a daily basis. Do I buy or sell? What do I buy? Is there something better our there? Should I get involved with that start up?
We are seeing this mirrored in the crypto-world. Everyone who has any tokens, now reported to be over 100 million people, has these decisions to make each day.
Even the latest craze, NFTs, is revealing this. When one buys a NFT, there are many reasons for it. This is the same with physical art. However, ultimately, when putting money into something, it is often with the desire for it to go up in value. So, while high-end art collectors do not necessarily buy for the appreciation, they know it is part of the process.
Of course, the decision to purchase a NFT in and of itself is an investing decision. Even if the reason for getting that asset has nothing to do with speculation, price appreciation, or having the desire to ever sell, the choice to get out of another token, unless it is a stable coin, requires an investment decision.
Anytime one exits a token, it is akin to leaving any other asset class. There is a reason one sells. Of course, not everyone looks at each action in this detail yet this is what is taking place.
When one opts away, the view is this will not appreciate. After all, would one use that token to buy a NFT if he or she knew it was going to 50x in the future? Most likely not. Again, the thought process might not be there but we have to acknowledge the chance of something going up by orders of magnitude does exist.
It is also why cryptocurrency, thus far, has not done very well as fulfilling the unit of transaction role. Most of the industry is hodlers because of the speculation. This might always be the case leaving this void to be filled by stablecoins.
This all does have a positive impact.
One of the biggest problems with the present financial system is that few people are able to enjoy the benefits. As wealth inequality grows, more people are left aside. We saw this kick into overdrive during the COVID-19 crisis, a trend that was in place was accelerated.
Those with assets and the ability to invest were able to make a killing. The rest, like the ones who were struggling only to then lose their jobs, well they only fell further behind.
Cryptocurrency gets everyone in the game. One of the reason why Hive is so interesting is that it offers an individual the chance, even if one has no money, to be involved. Through activity, he or she can get rewarded in tokens. Then, the decisions have to be made.
Yet, no matter what the wallet size, this person is involved. As an investor, even a very small one, the ability to improve one's financial situation increases greatly.
Many strategies can be employed, the most basic being just looking for consistent growth of one's account. This can be enhanced on Hive by being active each day, growing one's bags.
It is said that one of the keys to financial success is to "make money while you sleep". This certainly encompasses the difficulty people have getting ahead financially from just a paycheck. Exchanging time for money only rarely results in this outcome.
Over the last couple of months, we saw the price of HIVE go from around 10 cents to half a dollar. That is a 5x move which impacted every single account holding that token.
An account with 10 HIVE went from $1 to $5 in basically a quarter. Many will say, "no big deal". However, a 5x gain is a 5x gain. The $4 was acquired without the person having to do anything other than be a holder of the token. This is the key. While that person did whatever it was each day, over that period of time, $4 extra was made.
In Venezuela, this equates to 4 months of minimum wage. To someone in that position, $4 is a big deal.
Of course, not all of us have the same economics. The numbers will change but the concept is the same. Whether one had 10, 100, 1,000, or 10,000, all enjoyed a 5x bump in value as compared to USD.
Through the power of compounding, and putting time to use, we can see how these accounts can all grow into much larger numbers.
This is what cryptocurrency does for everyone. Many will not look at it that way yet it is what is occurring. Suddenly, we have everyone involved with "skin in the game". This provides them with an opportunity to build wealth.
It is something that present financial system does not offer to most around the world. Yet cryptocurrency, by its very nature, puts everyone in the realm the second he or she enters.
Here we have a financial system that instantly includes everyone who is involved in the wealthy building process as compared to one where most are excluded.
Thus, it is easy to see why the potential with cryptocurrency and tokenization is so great.
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