This is a concept that is difficult to grasp on the surface. Nevertheless, it is something that is vital since it is changing everything we know about the world around us.
There is little debate about the direction things are taking. Our lives are becoming more digitized while moving towards the next horizon, virtual. It was a trend that started about 30 years ago only to pick up steam the last decade.
Going forward, the pace of change is going to blow people's minds. What took place the last 20 years is a drop in the proverbial bucket compared to what we will see in the next couple.
For this reason, many of the limitations we presently see are being eradicated. Our world is rapidly having them remove, pushing us towards a time where much of what we have is without limit.
Of course, there are always limitations yet this is really only erected by computational speed and bandwidth. As long as both are available, we can see how the barriers are falling.
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Technology is changing things at such a pace that humans cannot keep up. This is nothing new however. For example, the number of trades on the stock market increased exponentially over the last 30 years. Is this because more people got involved? That is a part of the equation, but a minor one. The biggest reason for the jump is automated trading. Computers simply can handle a lot more transactions than people and they are ever aware of the indicators that lead to making a trade. They are not distracted by bathroom breaks, a phone call, or another trader stopping by to chit chat. They are on duty all the time, ready to act.
It is estimated that more than 80% of all stock trades are from these bots. This means that humans play a small role in the overall activity. Where is the limit? More computers and programs can be set up to trade. At the same time, each year we are seeing more computational power being generated.
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Another example is data. The above chart shows the path that data created took along with the expected growth rate into the middle of this decade. Everything we do these days leaves a data trail. Most of it is taking place without our recognition. In fact, much of it is taken and duplicated.
Our mobile phones are recording our location. This means that either Apple or Google is seeing that. Yet, many applications such as Waze also use the GPS. Hence, multiple companies are receiving the data. For some, they have 10 or more applications on their phones, all sucking out the same information.
Compare that to how things were 40 years ago. Just consider the amount of information stored on a single hard drive and figure out how many filing cabinets it would require.
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Cryptocurrency is really taking things to a completely different level. The reason why this is so disruptive is because we live in a world that is based upon money. Most of what we do requires it. This is how we transact.
When Bitcoin was introduced, the world changed. Many will say that money was digital before then. That might be true. However, Bitcoin never existed in the physical form. It was created in the digital world. Thus, we saw money that was truly digital.
Another breakthrough happened at the same time. For the first time, maybe in history, anyone could create money. The power to do that suddenly was in the hands of everyone.
What started out as one currency, Bitcoin, is now more than 6,000 as listed on Coingecko. There are probably double that number which are not big enough even to register there. This is only going to grow over time.
It is said that the Internet is the world's biggest copy machine. Whatever is on it gets duplicated. When we think about it, cryptocurrency is nothing more than data. Operating in the digital world, it can be duplicated the same as any other form of data.
Doesn't this mean that it is going to be worthless? After all, reared in a scarcity world, we know that is what creates value.
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As noted earlier, we are rapidly moving to a different world with new models and rules. When the amount of data grows, it does not become less valuable but, rather, more valuable. This is something we witnessed over the last couple decades.
Some call it the "new oil". Ironic since oil maintains its price based upon the supply/demand model. When scarcity is achieved, prices go up. That does not happen with this form of "oil". Instead, the value keeps rising in spite of the exponential amount of it that is available.
Since money is how we transact, a unit of collaboration, we can expect this to impact all areas of life. The next couple decades will not see the progress in computation and communication slowing down. In fact, many are working on pushing the pace to an even higher level (6G). This means that ability to generate data will increase significantly.
We saw what happened to information, music, video, and communication when that was digitized. Now we are witnessing it taking place with money. That is going to unleash an even greater push towards limitless since funding is going to be available for most ideas.
In the end, we will only be held back the computation power and bandwidth.
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I remember when I was a child I was told that technological advances and computers would become massive perhaps in 50 or 60 years because the population was afraid of technology but it is incredible to see how in just ten years even the poorest areas of Africa are creating tokens and in the humble neighborhoods of Caracas there are bitcoin miners.
the world is moving faster and faster and year after year the speed at which it moves is tripling, this is just the beginning.
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2010 was yesterday and the data size chart and information sharing sparks have changed so much that's a big jump.
Let's hope we can benefit from these changes, in fact, we who are already in the crypto world already have a great competitive advantage, by the way I was going to ask you about the Riple XRP airdrop I think many people have entered and that has inflated prices I had no more than a couple of tokens but I have already converted more to get a few more cents, we must take advantage of every opportunity that is within our reach to see how or in what way we can benefit, with the new projects that are making technology go by leaps and bounds , which is sometimes difficult to keep up with, especially when you don't have as much time and resources.
Happy day.
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I am so concerned where all this data is stored, I've wanted to ask this question for sometimes now. It's there a world data library deep inside the artic with a 1 quadrillion Terabyte storing all data.
To me, when it comes to technology, this is just the beginning. The shout over blockchain has just begun and we haven't scratched the surface enough to see the true full potential of it. More are still coming.
When we come to 6G. Not surprised, I guess that's what NASA is using already 🤭🤭
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We all need to be concerned where the data is and, more importantly, who is in control of it?
In the hands of the likes of Facebook and Google does not make me sleep well at night either.
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Can we skip to when it is possible to teleport, so I can get out of Nigeria fast
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LOL that might take a while.
In the meantime, why don't we work on making Nigeria a much better place. It starts with income and cryptocurrency can aid in that endeavor.
Leofinance is aiding in that quest. Hopefully you are starting to feel the benefits.
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I'm so sorry I'm old and I won't see this huge advancement in technology and changes in people's lives. Instead, I still got the start, I could see the beginning of a new era. Jules Verne imagined in his writings many devices and technologies that appeared after more than fifty years ...
Now things are imagined that in a few years will already become reality. I'm thinking about how we will approach the speed of light!
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That is the great inequality, age.
Those in their 20s will see a lot more and live longer than those of us who are older.
120 years for those in their 20s is not off the table. For those in their 50s, not so likely.
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120 years. Wow! This is an age, it is a life but never enough.
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Technology is an unlimited frontier, every year incredible projects are realized.
Powerful computers already replace human ingenuity in research... My fear is if machines can learn to think independently... at that point it would be the end for us
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I wouldn't bet on that. I think long before we get to that point, we will be tied into them.
Intelligence only differs where it is housed, yet it is all tied together. The internet, which lifted humanity's knowledge level a great deal, did not take over for people. Yes, it is "dumb" compared to what is coming, yet we are still interacting with it.
We will see ourselves as part of the AI, instead of separate from it. How we will interact with that, remains to be seen. BCI seems to be the path everything thinks but who knows. We might find something else in the next decade or two.
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It is all in the hands of those who research AI systems today.
On the one hand I am very happy because I am sure it will bring great improvements to our life but there remains a bit of fear in me in what we cannot control
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Quite a vision here and the world is going borderless and bankless through blockchains and cryptocurrencies. One space where anyone can thrive!
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We can say that thanks to Covid we gained at least 5 years in technological progress. Most people and business have been affected and needed to adapt. Broadband speed is needed all over the world at the moment. 6G is in the making as data as we know it, will explode. 5G is meant for cities, but with the deurbanization, where people flee in masses the city, this technology is needed to cover up a lot more space. Imagine going to party in the city. You call a ride, which will probably autonomous, party and then come back with another autonomous ride. This two rides will eat a lot of data up, as they will communicate with another server on surroundings, changes, decisions, weather, etc.
We leave in a good time for changes, where the world will evolve in a anew and prosperous era.
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That's just the difference here, scarcity isn't everything that makes the price of BTC goes up, it's only logical that with time prices will keep going up because I once had a friend who wouldn't invest in BTC because he thinks without scarcity prices will never go up.
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Scarcity has been my hesitation with Ethereum. There was no cap on how many ETH are created. However, ETH 2.0 introduces a burn rate. Now I am more inclined to stack ETH as periods of heavy use will burn more of it in future.
Unlimited inflation is one thing that bothers me about Hive as well. You can compare LEO, which has a limited supply, to HIVE, which is unlimited.
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As long as the growth rate exceeds the inflation rate, it is not a problem.
That is what people miss about the entire inflation discussion. They look at things in a vacuum, with linear thinking.
It is much more complex than people make it out to be. That is why they arent even aware we have existed in the US in a deflationary supercycle that is now about 40 years old.
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I don't know, but I think that unlimited supply of hive is also affected it, since there's nothing like buying back the token or something that creates scarcity for hive just as it's done for Leo. But then I'm just one guy I might totally be wrong.
The burn on Leo really hasnt impacted the distribution that much. In fact I could make the case we would be further along if that money went into marketing to bring in new users as opposed to the burn.
I maintain growth is still the key.
Besides, who knows when there might be a need for expansion. People think that inflation is bad yet they do not realize, if there was still the same amount of USD out there as there was 100 years ago, things would be 50 years behind where we are now.
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Hahaha that's really true, growth is the goal by the way. Anyways I believe the burn on Leo might be looked into very soon I believe with time more money will be put into marketing and we can actualise our aim of having users that'll really matter a lot
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I am really excited about the idea of quantum computers. I know they pose some risks to cryptocurrency, but I think that people smarter than me will be able to overcome those issues pretty quickly and we can all move forward safely. I think the possibilities it is going to open is more than worth it.
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Well that ties into the idea of a quantum internet.
If the threat is from quantum computers, you have quantum computers secure it.
Crypto will likely be secured by encryption created by quantum computers.
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That is kind of what I was thinking. It could be dicey if they don't implement right away though.
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I've been doing a deep dive on MicroStrategy's Michael Saylor. He often mentions that BTC dematerializes money. He points out that there are many examples in which making something material into an unlimited service is highly beneficial to the creator and the user, such as Google Maps. In the past, you had to buy maps to get around. Now everybody has maps on their phones at no cost, which increases our ability to get around efficiently and makes boatloads of money for map providers.
Other examples are when AI dematerializes somebody's job. Or, how COVID has forced companies to switch to remote working. Suddenly, the corporate campus dematerializes.
He wrote a book, which I haven't read yet, The Mobile Wave: How Mobile Intelligence Will Change Everything. It's on my reading queue.
Saylor certainly has some interesting insights. I watch interviews with him on YouTube. They get repetitive. However, they are different enough that he lets out new insights from time to time that makes it worthwhile to sit through the routine parts of the interviews.
I think your assertion of moving towards an unlimited world is spot on. Other examples are like here on LeoFinance and Hive, people are rewarded for doing what they do for free on other platforms. It's amazing that people can earn money making videos on YouTube, or streaming their games on Twitch. Imagine if journalists let go of working for corporations and instead set up their own internet news stations. People would have a choice on who provides their news and would not be subject to editorial censorship.
There is so much that can be dematerialized and turned into abundance if we change the way we think.
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Take the thought a bit further.
Consider the day when you can have an AI generating top quality videos for you and posting them on a platform where you receive rewards.
How does that change things? There is already AI algos out there that can generate video content. Who can say where the line is drawn.
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I suppose business has always been about margins. Thinking about it, if my production variable costs are only shooting the video segments, with a fixed cost for the AI, that would put me at an advantage over companies that also need to pay for editing. I'd have greater margins until other companies also implement the technology.
Or, perhaps the technology allows for more prolific production, meaning more videos produced in the same amount of time.
I've been on the fence about subscribing to the Magisto Business plan. It provides AI and includes Vimeo Business. With the stock video, music, and images, the package offers great value. Going with your idea, one might not even need to provide my own video content by cobbling together stock footage in a cohesive narrative.
It isn't full automation. But it's pretty damned close. To quote Kelly Bundy, "the mind wobbles".
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Yeah that is the direction we are going in. It is not too far away. Like you said, we are seeing it right on the edge there.
As for the increase in production, I think that is the key. The time element when an AI package can generate hundreds of videos for someone. That will mean we see an enormous uptick in the amount of video content out there, no different than we saw with the explosion in information.
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Your current Rank (19) in the battle Arena of Holybread has granted you an Upvote of 14%
Have you hear Ted Nelson talk about Project Xanadu? Crypto can finally have a chance of making his dreams and ambitions have a real shot at succeeding. He coined the following terms:
The internet would't exist if i wasn't for him. But most people seems not to care when he wants to move things to the next level:
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I will check out those videos. Thanks for sharing them with me.
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I felt like you're the kind person who can spread the word about projects like this :)
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Sooner or later, everything changes and we have to be resilient enough to at least be willing and face whatever is new.
The big problem is: Many people don't want to change or feel that they don't need to change. But guess what? It's a change of mindset that will happen slowly.
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