Yeah they end all the time and people get scarred…it takes generations and then someone re-starts them up. However, never in history have we all been tied to one fiat debt based instrument (U.S.dollar) and never in history have our living systems and skillsets been this specialized and interconnected, and never in human history have we had the internet/instant communication of an awakened population.
Also, Gov’ts didn’t always use debt based instruments for example tally sticks were used. The reality is that debt based money is immoral because it steals the wealth or commits future generations who aren’t even born to debt slavery. So you can say hey it looks like it’s created the greatest wealth in human history…yeah by stealing from the future to pay for today. Most kids today can’t afford school tuition, can’t buy a house, can’t get married…all because of this debt based paradigm + govt’s corruption…no society has ever prospered by sacrificing it’s young to debt slavery. Doesn’t work.
Crypto’s are a way to unleash humanity from this debt & death based paradigm…i’m excited about it. Who knows what govt’s will do but let’s hope they answer to the people…and Crypto Moses is parting the red seas yelling at Pharoah to let his people go!
I am heartened by your abundant frame, and agree with your arguments.
I think the paradigm shift that is necessary is coming! I just think it will be more likely sooner enabled by a post-scarcity SI than by agreement among peoples toward virtuous accounting (which has just been revealed to be “a real option” so to speak by the chain). I think the singularity will occur within 5 or so years, slightly before “currency and political value unification”… so we are close together in our future predictions case, but for slightly different reasons. Of course , it is also the case that an SI could find value in these chains, or that the chains themselves could even abet one!
We were tied to gold previously and with that we had a miserable life expectancy and medieval levels of innovation. What other system are you proposing ?
Paddington, I don’t know if you are intentionally confusing the role of Gold or you seriously don’t know or if you are being a troll but I’ll bite i.e. Gold is a canary in the coalmine and a backstop to Government corruption. (in fact Govt’s and Central bank buy gold constantly) This is the reason for Crypto…a money that needs no middleman and doesn’t carry debt interest from issuer. We have had gold as a backstop all the way up until Nixon removed it so he could continue his guns and butter. Since removing the last vestige of Gold i.e. the indicator that we have overprinted the fiat- Govt’s have grown more out of control, more wars, and less control by it’s people. Your focus on Gold and not on Gold’s role as a proxy for a human beings time, energy, creative talent is just very odd. The ability to print money out of thin air with out a backstop is the ability to steal the time, talent, and energy from people not yet born…that is akin to a vampire and is immoral. You seem to equate removing it entirely as leading to the success of America and I would argue it has led to our downfall because we are blind to the excess of our overlords, we have incentivized the worst in our culture i.e. it’s not what you know it’s who you know, we have relied on the printing press and have put people in jail for smoking plants while the folks near the printing press steal billions and get away scott free…your argument seems to be…removing any backstop or indicator that we have over printed money is not useful…it’s better to be opaque and allow Central banks, govt’s to print money incessantly + come up with financial mumbo jumbo as long as my generation doesn’t have to pay the consequences? There is no difference between us and Zimbabwe at the moment except the US is (for the moment) the world’s reserve currency. I don’t think you are being intellectually honest nor are you providing any arguments to interrogate. You are just saying Gold is dumb and pointing to this fake prosperity built on credit which will come to an end.
You still haven’t answered my question. What system are you proposing? The greatest form of wealth is health and health standards have increased wonderfully in the last 50 years. Why do you think this prosperity is fake ?
Paddington , I think some of us are getting l confused with regard to loaning at interest versus government control and direction of economic interest "for the people (future debtor generations) .
Inflationary economy has been a great boon since 5000bc
The federal reserve was supposed to keep independent tabs on that .
I’m totally confused …Choskins has stated that Cardano is aiming to be the financial stack for 3Billion people. We are on a Cardano forum. I am an investor in Cardano. (so that’s one clue - you must be trolling) Money can be anything that people choose it to be but what i do know is that the current form of fiat money will no longer exist as is. So maybe a basket of competing currencies to include crypto’s where the free market decides?
Why would you ever wish to leave something as so important as money purely in the hands of the free market ? What a silly idea.
Listen, I know Charles is a free market libertarian, he’s a great guy in all other respects and it’s refreshing to see him with at least one flaw but it doesn’t mean I have to buy into the idea that the free market can solve the worlds problems. I like the blockchain for the simple technological solutions it can provide and back it for those reasons.
Just because you like the machine, doesn’t mean you have to back the ideology of the engineer.
I think like @Bullishdong said, intrinsic value is usually calculated by the analysis of the fundamentals .
If you were warren b, you’d start by calculating real property value, revenue generation per unit, liability balances, cash on hand, the speculative “innovation value or return on r&d” , etc.
For cardano it is different .
Its assets and potential future are in mostly the code level.
If you are well versed in FP, consider the value of openness attack . It can’t quite even be valued because it is so high. In financial terms this could loosely be equated with fungibility and flexibility. FP is capable of doing “everything” because of the way the it avoids the halting problem. What is the value of being limitlessly capable ? It’s really hard to say!!
To the layman, I would describe this particular value as being comparable to the value of market competition. It is really hard to describe let alone evaluate … but if you have a product/service x , and it can be done by a competitor for substantially cheaper and more reliable … how valuable is that ? Incredibly high as a phenomenon … we can see Walmart and Amazon and say (Honda/Toyota in the 90s) as having been huge beneficiaries of that…
Now scale that up to virtually any market , with limitless reliability and verifiability … the power of this truth checking and truth finding , the market maker of market makers, and you can imagine such an openness/acceptable attack could accrue stratospheric value.
In laymen’s terms you could describe intrinsic value as the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors.
Using Cardano as an example one could say that the perception of the tangible factors that make up the intrinsic value are: the amazing team, peer review workflow methodology, the daedalus wallet, Charles and Jeremy their expertise in the field, the numerous PhD’s and scientists who contribute, it’s transparent nature and so on.
The intangible factors would be the impact on society, business, and any field that will be disrupted by a blockchain that is able to provide value for billions of people.
You see, the intrinsic value is different from the perspective of the beholder. If you are in a developing country without access to banks the impact on one’s life would be far greater from this person’s perspective.
It is the intangible factors that make the difference in perception when calculating the intrinsic value.
@Paddington Slavery basically, cause if a man owns his farm and wishes to sell his products freely and is taxed but see’s nothing come from his tax dollars that benefit him in any way then he has been enslaved with the tax as proof of enslavement, the “taxed and regulated” that you speak of - Yes Mainstream markets are not free, but the prices set by the free market are real (even if they include the tax one must consider is sale) and are actually free, as someone still has the option to sell at loss or gain to their person, this is free to consider and do. lllllllllllllllllllllllllllllllll@Bullishdong Thank you for the reply, i did go back and read everything in this thread and am glad you described how most investor’s place value on an investment, I obviously base my Cardano investment on the team and the trust I have in it and where i want the blockchain technology to be in the future and who I believe is going to deliver it - I must be invested in people at this point - something I can live with even if it goes to zero.
Interesting, all are taking serious FLAK, but looking at https://coincheckup.com/, Cardano is the largest loser of the top 30 Cryptos over 24h and 7D. Any thoughts on why Cardano in particular is taking a hit?
Seems like a good moment to increase exposure a bit .
Yes I noticed that as well, Cardano, Stellar and Ripple are the biggest losers in the past 7 days.
In my opinion, the explanation is simple, they have in common to be the cheapest coins in the top 10 and thus the more affordable. As a result, they attract a wider range of investors, most of them being inexperienced, having never really experienced the special volatility in the crypto world like they are experiencing now the hard way.
It is safe to say that most of these new investors are weak-hands and panic-sellers, that they don’t believe or understand in the project, are in to get rich quick, invested money they can’t afford to lose etc…
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