An Economy that Doesn't Provide Jobs: isn't.

3d
LeoFinance
9 Min Read
1778 words

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One easy way to tell that we are within the infant stages of crypto is that essentially zero jobs are being provided to the people. Despite all the grandstanding & peacocking about overwhelming the entire legacy economy and bringing central banking to it's knees, crypto has a hundred times more scams and rug-pulls being cranked out than it does legitimate projects. It's not hard to see why mainstream citizens of the world would look at it from the outside with huge skepticism.

Jobs that are provided by crypto:

  • Developer
  • Blogging on Hive.

I mean... if there are more than this, be sure to comment below so I can take them into consideration. The first thing that comes to mind would be play-to-earn games on the blockchain. Unfortunately, there's no such thing as play-to-earn games (yet). Obviously this depends on one's definition of what play-to-earn really means, and there are a couple different variables here to note.

The first variable is pay-to-win.

As far as I know, every play-to-earn game out there uses NFTs to represent collectibles. You can't play the game without the collectibles. Thus, the game is pay to win. There's really very little wiggle room around this fact.

In fact, blockchain 'play-to-earn' games are actually pay-to-win games on steroids. In a normal CCG like Magic The Gathering, you might expect to pay a couple hundred dollars for a really good deck. Crypto takes this to an entirely new level where someone might be willing to spend a couple thousand dollars on a single card. And then you play the game and earn 10 cents playing the game and we call it 'play-to-earn'. It's absurd.

The second variable is compensation.

How much money does one need to make before we call it a job? This actually varies from country to country. One can't be a professional at something unless they can actually pay their bills with it. However, bills are cheaper in a country like Nigeria compared to USA. In USA, you can't call the thing a job unless you're making like $10 an hour. In Nigeria you might be able to get away with something like $2 an hour and it would still be worth it. I'm suddenly reminded of the slightly offensive phrase "Chinese Gold Farmer" back from my World of Warcraft addiction.

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Definition of a job:

But I'm not here to define what play-to-earn means. And I'm not here to rip on any particular project (Splinterlands is doing good work). In order to know if we are providing jobs to the people, we have to define what a job actually is. The definition may change a bit with crypto considering many people are going to be their own boss and choosing their own hours, working for a network rather than a corporation.

  • A job pays enough to handle the bills (hopefully more).
  • A job doesn't require an upfront investment (only MLMs require this).
  • A job provides value to the employer.

I'm trying to think of more things, but honestly these are the three big ones. This is enough criteria to rule out every other "job" on crypto that isn't "developer" or "blogging on Hive".

Blogging on Hive is not the actual job.

The real job is networking and making connections and building trust with other people. However, this often manifests itself through the blogging frontend. Still, we must admit that all one actually needs to do on Hive to make money is to get people to click the button that gives them money. It's a highly subjective (and often political) process. Still, it's better than what everyone else is offering.

Blogging is unsustainable.

Obviously everyone can't be a blogger. The world doesn't want or need that many bloggers. A society needs people working on a thousand things at once for the economy to actually work. We can think of blogging as the testnet on Hive (or other networks that actually figure out how to build the infrastructure to provide the jobs). Looking at Hive... again we are way ahead of the game even though we are still on the pilot episode. Show me another network that's offering a job. I'd love to check it out.

Get paid to ______.

This is a term that used to get thrown around a lot; not so much anymore. Creating job markets is a very difficult thing to do, and even more so in a decentralized atmosphere. The goal is to create as many jobs as possible for the least amount of experience required. Easier said then done.

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Lowering the bar of "development".

Learning to code is very technical and difficult. Expecting even 10% of the community to do raw development with things like Javascript, Node.JS, Solidity, C++, HTML/CSS, SQL, etc, etc, etc... it's just not going to happen. Even just 10% is too big of an expectation. It takes a very particular kind of person to be willing to grind out code without burning out.

I believe one of the big breakthroughs in crypto will be lowering this bar to a level that is much more tenable to the average person. My focus is on gaming, so my examples are centered around that area, but surely there are other ways to go about this.

Making development easier across flat architecture.

Building the skeleton of a game requires those hardcore development skills, but building the skins and the frontend of the game can be outsourced to the community. Graphics can be turned into NFTs and be owned/rewarded by the entity that created them. Again, this does require technical skills, but also it's a completely different subset of skills which allow more people to jump on board in a decentralized fashion and get paid for their work.

Building campaigns and mods.

Even once a game is fully playable, that doesn't mean that development is over. People beat the game. It gets boring. They lose interest. There are a lot of sandboxes out there that lack any kind of direction and expect the user to be creative and just come up with their own thing. The problem with this is that many gamers don't like sandboxes. They want a goal and a defined path.

A sandbox can be turned into something that has more direction by the gamers themselves. Entire genres of gaming have been created (MOBA) in random map editors by users who work for free. Imagine how much content would be created if they were getting paid. Easily ten times if not a hundred times as much.

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In fact I'm playing a mod of Factorio right now that is absolutely mindblowing (Space Exploration). It's insane how much content can be created in a sandbox like this or Minecraft or whatever else. It is by far the most challenging game I have ever played by exponential margins (even compared to vanilla Factorio).

In regular Factorio, you build a factory that processes several raw resources into various products that are then consumed for their purpose or used in other product. In this Space Exploration mod (that's been developed for three years now), you can set up bases on other planets (and build in orbit). It's a complete overhaul of the game that completely changes it. It almost feels like a completely different game at this point.

The only reason I bring any of this up is that it perfectly showcases how much work can get done by third-party developers working outside the system. Crypto is perfectly aligned with this kind of development. If Factorio (or any other sandbox game) was integrated with crypto in a meaningful way the level of content being created by the game's community would be astronomical. This is the kind of thing we need to be shooting for on Hive. The players themselves need to also be the developers of the game (and get paid fairly for their work).

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The enthusiast factor

People work much harder on projects they actually care about (and for less money, if necessary). Some of the best inventions were created by enthusiasts. For example, the mountain bike was created by biking enthusiast. Many of things people create aren't going to get created in some corporate board-room with suits throwing ideas around the table trying to make a profit. The real innovation comes from citizens that actually care about the thing they are working on (and making money off of it is a secondary objective). You know you've made it when your hobby becomes your job.

Crypto will eventually empower enthusiast communities to operate at their highest level while actually getting paid for their work. Just look at all the cool open-source stuff that's been created with little to no financial incentive. Linux was created for free, and we use it to run the entire Internet. Imagine what happens when we monetize open-source development completely and allow people to work on the projects that they actually care about. The level of value that gets generated from that tipping point is going to be immeasurable.

Conclusion

We say crypto is going to 'disrupt' & overturn the entire economy and revolutionize the world. Cool story, bro. Where are the jobs? Does this new innovative economy work by people living paycheck to paycheck being expected to invest in something that has a 99% chance to be a scam or failure? Hm, yeah, that's not how economies work.

It's funny because I do fully believe that crypto will takeover in all the ways that are being claimed. However, that's not possible until we offer jobs to the masses that pay more than what they are currently being offered (or at least have better perks like being your own boss and choosing your own hours).

Expecting poor people to invest in the world's most risk-on asset and then telling them that's how they will be saved from imperialism... wow, what a scam. Truly it amazes me what Bitcoin maximalists tell themselves on a daily basis.

At the end of the day, the vast majority of the population has nothing left to risk. This legacy economy is on life support. The middle class vanished. The only way to fix the situation is to offer zero-risk jobs that provide more value to the network is paid to individual 'employees'. This is how an economy works, and it surprises me that so many people around here can't see it, instead opting gamble in the world's riskiest online casino and pretending like this is a sustainable practice. All in good time, I suppose. Keep grinding.

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However, bills are cheaper in a country like Nigeria compared to USA. In USA, you can't call the thing a job unless you're making like $10 an hour. In Nigeria, you might be able to get away with something like $2 an hour and it would still be worth it.

Yes I agree with you, It's cheaper to live here, which is one reason why Hive helps especially when you have another source of income. However, with inflation now the order of the day, 2$/hr might not be enough for the average Nigerian again. A perfect job for me would be $5/hr... I will be a DON quickly!

Expecting poor people to invest in the world's most risk-on asset and then telling them that's how they will be saved from imperialism...

One reason why Hive account creation shouldn't get too expensive.

This is how an economy works, and it surprises me that so many people around here can't see it, instead opting gamble in the world's riskiest online casino and pretending like this is a sustainable practice. All in good time, I suppose. Keep grinding.

@edicted, Life is a risk itself

!PIZZA !LUV

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3d (edited)

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3d (edited)

That's why crypto folks are called ape/degen in the first place. Do we know how unsustainable most crypto projects are? Yes. Are we gonna stop getting rugged? No. The same reason a Casino never runs out of customers. Suppose the crypto space matures to the point where it can actually provide sustainable jobs to the majority population. Then it's too late to become an ape/degen at that point.

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You're absolutely correct and i believe there should be more Jobs in crypto than "Developers" or "Blogging".

Though, In crypto Artists are also getting paid Good making Graphics whatever for game, for projects, Logo's, banner etc but that's not enough.

i have the same concern with the play 2 earn game are more like pay 2 earn and play till the token has liquidity and wait for when it becomes dust tho Sprinterland is way much better and doing good than other P2E Games.

Creating job markets is a very difficult thing to do, and even more so in a decentralized atmosphere.

Indeed, That's the main thing - i would say making Decentralized Upwork - Fiver like thing would might create tons of job for skilled people but on the other hand i agree jobs should be easier so anyone can do.

Perfectly said, looking forward to see what experts think on this.
Happy weekend!

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Once the ai can design software by prompts from the layman, things should get really interesting

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I wonder when will we have the first proper play to earn game and what the tokenomics will be. I agree with you that so far we didn't had any...

Same thing applies for movetoearn apps. Actifit is probably the only such app that rewards you without no initial investment.

Hive rocks for the topics you laid down here.

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Seriously, Crypto I have actually lost too much in crypto. Sometimes I begin to wonder where all its promises and potential lie!

Hive in a way has being the opposite of other Blockchain platform. One can say it is one of the two ways, crypto has created job.

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I think you have it right in the context of when you say "lie" as in crypto lies. Not where the future lies. I believe the crypto narrative is a complete lie told by the benefactors.. That's the project founders, developers and miners.. who don't represent any of the masses of crypto participants for the most part. So i feel all crypto is right now is a club that services those people and a few early investors whom often times none of us are fortunate to be the first people to a project. So it's probably like only about 1% of crypto that's really winning. It's bullshit for the rest of us.

Now to deal with time efficiency i wanna address the entire post @edicted.

Studying crypto from a traditional economic angle is all wrong because as you've discovered crypto lacks the components to even be classified as an economy. There really are no jobs at all. Now there may be a silver lining to this.. In that because crypto doesn't follow traditional rules it may allow for some breakthroughs as i've discovered however for the most part crypto is just like pyramid ponzi scheme garbage even when you break down bitcoin you get the same thing.

So in crypto it's no real way to produce or move money. It's all shells of people manipulating the markets with outside money. Not newly created money more like propped up structure money which is why everything is so fragile and weak.

Let's help you understand that yes blogging could be considered a job or gig economy and that could have helped. However here's the problem. How everyone is setup on the chain you're not promised value eventhough you've labored lol. So it's like showing up on a job and working but not getting paid. Even if you're a miner forking out electricity or time whatever. If the crypto markets are tanking then you may be mining at a loss.

So basically what i'm saying is there really aren't any jobs. There are opportunities if you're a market manipulator namely menaing you're using outside money to trick others into spending their money and then you rug pull mind you it's not innovation does nothing to advance or help the world

Next most of crypto then becomes a nonparticipatory economy. it's one where so little people can participate it'snot of significant benefit which is why most people avoid it or come in and leave it.

Works like this.. if something is useful you continue to use it. If it's bullshit you come in don't see real use in it and you go.

So crypto probably won't change from that for a long time and the reason is because in order to fix a problem you first gotta identify the problem. If you look at crypto most people are not even making posts like this.. They playing the lottery of crypto and you got all the terra lunas and celsius because they don't know how to build systems.. they aren't trying to address the problem and in reality i don't think they are even serious about crypto being a solution for any future.

Now let's talk about why crypto is not designed to create jobs but why that may still force us into an interesting situation. Well crypto is mostly automated with no middle man. With algos and computer learning doing things a human would maybe have done. Now most crypto projects do everything without any humans. So what happens when you have an economy that doesn't really need a human to run it?

That economy has to support the people or it's no reason for the economy to exist in the first place. So that moves into every job automated on the blockchain which they are basically or can easily be .. someone is bound to create that. So then the problem becomes how do you automate distribution from the labor of ai. Even if it comes down to crypto can't create jobs for the benefit of growth and usership you need to havea way to address and solve automation issues.

So that's why bitcoin myk has an automated system that does that. It doens't have to create jobs because then you can just commoditize everyones time and participation as commodities.. Which is all most of the metaverse and internet has become.. farming attention. The problem is even in that due to the backwards capitalism we practice we can not solve the job problem with ai because we're using a model not applicable anymore.

However you look at this you still gotta deal with this problem. It's like being on the titantic and going okay i know the iceberg will hit the ship but i'm going to live in first class and not worry about it until it happens. Or you can already start setting up the life boats..getting people off the ship. That's why crypto can never work until it works like this. It will work like this. .the problem is so many people lose money, time and energy in the meantime for no reason at all. doesn't make the system better. doesn't advance humanity .. doesn't solve any problems. it's just a gigantic dispenser going to all the wrong people.. and the standard economy does a much better job than that. atleast the standard economy gets money to people who need it sometime.s crypto not getting money or benefits or value to enough people of significance period until bitcoin myk came on the scene it didn't even have a solution at all.

So @themarkymark has to step up @taskmaster4450 i'm sorry but he don't know what he's doing we've had a ton of twitter clones fail for over 6 years now. Edicted is finally atleast talking about the problem so i applaud him for that because usually it's just nonsense he talks about. You guys can do what you want i'm just saying willfull ignorance not going to help you all. It's going to keep you out of the top 100 create less opportunity for others. bitcoin myk is multichain and it's going to work because i'm smart and i know how to make it work and whether hive is a big benefactor of that or not will depend on you all but some chain will benefit eitehr way. So i'm just trying to help you guys out this is going down anyway

The job numbers are fake, even Trump reports false unemployment numbers and won't change the system because he needs the fed to spend money. If you can't spend money you got no power. You got no fed then politicians can't write blank checks. So people like taskmaster think you can either innovate your way out like we did in 20th century economics or he believes we can build a microwave that can teleport you but consumers still got no food to put in the microwave so that's his solution for raising the standard of livign which has continually dropped down since the 1950's

so you guys are wrong @edicted and you have no clue not even remotely what you talking about. Ignoring me only makes things worse. The reason being is because most of the information i relay isn't self generated or self created. When i say ubi is the future of crypto and our standard economy adn it's the only future we can have. I don't say that because i have some ubi wetdream. i say that because of alot of research and big credential economist like greg mankiew..So i know what i'm talking about and i got almost a 20 year career on wallstreet,, i got a 7 acre villa.. i don't care about money i care about glory and having my name in the lights as one of the greatest humans that ever existed because he made the world better for everyone else not just himself. Do what you wish at your own peril but hive is eventually probably going to drop to zero like every other crypto does so i wouldn't put too much energy into this.

@preparedwombat you think it's a joke lol

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@preparedwombat you think it's a joke

Actually, I never said anything about it being a joke. I only implied that you might want to consider the possible benefits of modern pharmacology, hardly a laughing matter.

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" completely snaps" WHEN I STAND ON A MOUNTAIN AND I SAY DO IT!

IT GETS DONE!

AND IF IT DON'T GET DONE I'LL MOVE ON IT!

AND THAT'S THE LAST THING IN THE WORLD YOU WANT ME TO DO!

all you hive people been trying to get rid of me for the last 2.5 years and i'm still here, now what?

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Definitely I agreed with you, everything seems to be going the opposite direction right now, you can't even buy the dip or even smile when the little bull will only run for hours and start dipping again., It is really alarming

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Like seriously, it's really annoying.

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Fact! For crypto to change how the world operates it needs to provide more opportunities and jobs and we don't have that presently. Does this mean that we should stop investing in crypto? NO!.

We are still in early stage of crypto and more opportunities is coming with more development

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In the United States, the median income is only about $19k (I’ll assume this is per capita, so includes those not in the workforce):

https://worldpopulationreview.com/country-rankings/median-income-by-country

Say $2/hour blogging and a nominal 40 hour work week, that’s $4k a year. A few Balkan counties (Montenegro, Moldova, Macedonia) fall in that range and much of Latin America and most of Africa is below that. So for quite a few countries maybe not great as a full-time job, but still, a decent side gig.

But, sure, it would usually take several years of plugging away at it to get there.

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I am going to say, Rising Star is a play-to-earn game that you can start playing for free. (If we are going to count idle games as playing a game.)

Do investing in the game increase your earning speed? Yes, but not really at the expense of other players.

But with the game being free to play, it becomes tough to make it sustainable. At least there are some new things that are improving sustainability.

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alright, can someone make $2 an hour playing Rising Star?
I know for a fact they can't.
because if they could someone would make a bot and Sybil attack it with thousands of accounts and make thousands of dollars an hour. This is why I put the $2 per hour minimum in there, to filter out these exact examples.

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Someone can make $2 an hour, but they need to invest the required time to achieve that. Botting is strictly monitored and not allowed, they can just ban you from playing the game.

I make what $1-2 dollars a day, but I did not invest the required time to do more.

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3d (edited)
  • Scammer?
  • Pump and dumper?
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3d (edited)

Bills ain't that cheaper like that in Nigeria, you are seeing it from the perspective of dollars, dollar to naira in cypto exchange is $1 = 710 naira, so things are are equally hard here, even hard because anytime that naira loose it value, it become a big issue for Nigerians. Minimum wages here is not up to a bag of rice. So thing are really hard here.

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I got one example, smutt models.

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thus it becomes obvious that a porn app may become one of the first super high paying jobs offered... which I find funny and have brought up a few times

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To be fair, all of the crypto service companies (I know not technically crypto) like exchanges, educators etc provide a ton of business and marketing related jobs.

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https://twitter.com/bitpandummy/status/1555679056796024832
The rewards earned on this comment will go directly to the people( @solymi ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

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It only makes me further appreciate what Hive is doing in the crypto space. If not anything, it is showing a clear direction of where we should be going

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tradooooooooooooors

influencer ( scammer)

Referral influencer

Salespeople

ok all the same.

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and I ask again, if 1000 people attempt this "job", how many are making more than $10 an hour?

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That are not jobs for the masses for sure :D Some make big, most make nothing.

Nature of things.

But how many jobs create web2? ( the same).

How many jobs create the internet ( the same).

I think the definition of a "job" chances the last 20 years. Its not something doing and repeating.

It is more about doing and repeating and being creative.

So there are not many standard jobs. And the repeat jobs are bot jobs :D

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It will grow fast when entrepreneurs, developers, marketers, community managers and marketers will know they can win together if they learn to work together. That's why governance is important in the blockchain space and the ƒractally DAO project is on track to make a breakthrough in blockchain governance and public goods productions. You can join the community of early contributors
here: https://gofractally.com/share/QtXCOcv68oO0k0de?utm_source=manual

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Imagine how much content would be created if they were getting paid. Easily ten times if not a hundred times as much.

Do you realize the motivation behind that work? It's not Recognition even. It's certainly not money.
Do you know how much art is created and posted for free, to deviantart?
Do you realize how many tutorials, guides etc exist, for free?

You think that people are doing that because they want money? They hardly care for recognition even, many do it for something else than "thumbs up".

You imagine things that have not manifested despite the fact that there's a plethora of ways to patron those people. What happens when the people who did it for free get paid? Do you really think that money means they will pump out more, or less? Would it be hard to imagine that its usually less?

You know what motivated people more than money?

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I shouldn't have to explain to someone like yourself why financial incentives need to align to get the results we want within the economy. So I won't.

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I'm not beating down financial incentives at all, literally shared exactly that today:

https://ecency.com/innovation/@baah/yes-they-can-t-but

So if I'm not negating the need for financial incentives, what are you avoiding...

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Do you realize the motivation behind that work? It's not Recognition even. It's certainly not money.
Do you know how much art is created and posted for free, to deviantart?
Do you realize how many tutorials, guides etc exist, for free?

You think that people are doing that because they want money? They hardly care for recognition even, many do it for something else than "thumbs up".

You imagine things that have not manifested despite the fact that there's a plethora of ways to patron those people. What happens when the people who did it for free get paid? Do you really think that money means they will pump out more, or less? Would it be hard to imagine that its usually less?

You know what motivated people more than money?

https://www.simplypsychology.org/maslow.html

Remember, this entire conversation, your entire " thought" is penchant on endeavors which can only be expressed best not by any financial, or social motives or driven by those incentives, but by something that supersedes those desires of recognition or material gain. You don't make art especially, much like Video Games, because you want money, etc, you may call it art, but it won't have that obsessive passion to perfect it, it will certainly lack the genuine character of a masterpiece, if its not for the love of the craft.

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I agree that Devs are high in demand but there are a ton of other jobs that people can explore as freelancers or full-time. Here's a small list of roles that are popular in Web3:

  • UI/UX Designer
  • Video Editor
  • Graphic Designer
  • Digital Artist
  • Tech/Non-Tech Writer
  • Product Manager
  • Project Manager
  • Community Manager (Discord/Telegram Mod)
  • Social Media Manager
  • Data Analyst
  • Business Developer

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It's a great list but it's also worth noting that networks do not provide these jobs.
Corporations do.
Just because the corporation is associated with crypto....
That's not any different than getting a job from any other corporation on a fundamental level.

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Fair point. Networks are allowing people do businesses and those businesses are creating jobs. But I got what you are saying. ✌️

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@nathanmars was setting up a Crypto bed and breakfast in Sri Lanka:

https://hive.blog/hive-167922/@nathanmars/who-will-be-my-first-guest-crypto-bnb-in-sri-lanka-opens-1st-march-2022

Not sure how far he's got with it, but the idea was that you paid for your stay in crypto, and he was going to market it on Hive - as you say, using networks and connections here to get guests.

If he pulls it off, the people working at his B&B would have crypto derived jobs.

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Lowering the bar of "development"

We were just chatting about this last night @patrickulrich. lol

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1d (edited)

One of the jobs that I do is providing stabilizing liquidity to the price of my favorite tokens.

I sell Hive when it pumps and buy it when it dumps. I do something similar with the swap.HBD:swap.BUSD pools.

I consider this a job. Although it doesnt pay a wage, but results based pay. Hive blogging is similar, no hourly considerations at all.

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Also LOL at Nigerians saying 2/hr is not enough, they must be urban. In the mountains of Colombia 10/day is solid work.

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