Cryptocurrency: Owning A Piece Of The Pie

2 mo
LeoFinance
5 Min Read
977 words

Cryptocurrency is the first major use case for blockchain. These two technologies are changing the world. There are going to be few industries that are not affected by the impact these will create over the next half decade.

As the industry grows, more people are finding the value that is being derived from this. At the same time, massive experimentation is occurring. Innovators are playing with different business structures, monetary programs, and ways of interacting.

Essentially, everything is up for discussion.

While Wall Street and Venture Capitalists make the headlines, there is an undercurrent that is going to affect every human being on the planet. This is something that is painful obvious yet is overlook.

It is the tokenization of everything.

Here we see a paradigm shift that is going to the foundation of society.

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A Piece Of The "American Dream"

Cryptocurrency is bringing the American Dream to life, whatever that might actually be. Even without a clear definition, we know it deals with opportunity and ownership. People can be involved and move ahead.

Tokenization is a process that is completely revamping the ownership idea. Whereas most were excluded before, it suddenly becomes inclusive. Networks are now permissionless. People can join while getting a stake through the native token. This provides them with ownership.

Of course, to fully appreciate this, one needs to adopt the ownership mindset. It is a transition away from that of employee to one who is responsible.

It opens up the door to enormous possibilities.

A Rapidly Growing Pie

Having an ownership stake in vital due to the fact this pie is getting bigger. Since this operates in the digital world, there are few limitations to how big it can get. We are dealing with bits as opposed to atoms.

This means we are dealing with issues such as processing power, bandwidth and storage capacity. All of these are expanding are rate much faster than seen in the physical realm.

Its is easy to see the financial component in all of this. At this time, it is primarily focused upon speculation and market movements. This will change as deeper levels of innovation start to surface.

We have a transformation that is going to enter the quadrillions of dollars. Actually, do not be surprised if this hits ten quadrillion.

These are numbers that are mind numbing to people. We tend not fathom things that large. Nevertheless, we when look at the amount of data generated each year, nodes connected to the Internet, and software programs available, we can formulate some understanding of how big this is. Remember, much of the traffic here is automated.

Monetization Of Everything

The tokenization of everything is really the monetization of everything.

We are going to see a digital representation of everything we can think of. Real world assets will have this. Activities can be quantified and rewarded. Any behavior can be incentivized. We even see where human waste can be monetized.

Everything will be data and data will be monetized. It is estimated data is doubling every 18 months. That alone is going to push the value of the entire digital world up.

The key is that all of humanity is going to own a piece.

YOLO

All of this is going to be enhanced by YOLO (You Only Live Once). This can be also termed the "Hail Mary" or lottery ticket. The idea is to take some money and put it on a long shot. In cryptocurrency vernacular, it is finding the moonshots.

Here is where one or two hits over a decade can really change things. For most people, this typically is not possible since we tend to lack resources. When they are precious, wild bets are not sensible.

With cryptocurrency that all changes. If one is being rewarded for eliminating yesterday's lunch, the resources are suddenly available for some long shots.

People are able to safely move up the risk curve since they can afford to have that money go down the toilet.

Steady Cash Flow

Few can grasp the enormity of what we are dealing with. When people have steady cash flow, which is becoming a constant in cryptocurrency, we see massive economic expansion. This gets insane when we couple the exponential increase of technology.

Passive income is dream for most people under the present system. In the world of cryptocurrency, it is the norm. A significant portion of what we see now generates this. It is inherent to the system. Much of the early development of Decentralized Finance (DeFi) revolves around this.

How does this change the equation for all who are involved?

Naturally, this feeds into some of what was mentioned above. As networks grow, people have some stake. It allows them to enjoy financial benefits that are otherwise missing for the majority of people.

Web 3.0 - Bigger In Every Way

The basic premise to understand is that Web 3.0 is simply going to be larger in every way than what we presently have. This is essentially what we are dealing with: the next generation Internet.

Over the last 30 years, we saw how this medium enjoying explosive growth in every way. This is not only going to continue but will accelerate. Some even believe it is going spatial.

With a different mode of ownership as compared to Web 2.0, this is going to allow everyone to own a piece of the digital pie.

Few can argue the impact upon society the last generation of the Internet made. It is not poised to take another evolutionary step forward.

Cryptocurrency is right in the middle of it. Just like before, very little in society will be unaffected by this.


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Could the "monetization of everything" provide a cushion for the ever-growing inflation fears?

If we digitalize everything and unlock the dollar value of so many assets won't we need a lot of Dollars in circulation to meet the demand? And if we are at a point where we can turn human waste into money... The demand is probably going to be veeery high.

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Could the "monetization of everything" provide a cushion for the ever-growing inflation fears?

Fears are going to exist whether they are unfounded or not. Long term, we see the fears are not there. Of course, the crushing of the economy will eliminate that talk.

If we digitalize everything and unlock the dollar value of so many assets won't we need a lot of Dollars in circulation to meet the demand?

BINGO!!!

And since we know banks will not be creating them, who is going to? Where are we going to see the shortage of dollars made up?

My answer is stablecoins. This is where the true opportunity is (well one of them).

It is such a simple concept to understand once people grasp the Fed does not create legal tender and Fed created reserves mean nothing to the global banking industry.

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Huh. So my crazy theories actually make sense in the real world? Good to know.

My answer is stablecoins. This is where the true opportunity is (well one of them).

I'm just worried that retail will bite the CBDC bait and chose them over decentralized solutions at first. Probably gonna take time for stables to become more popular with the general public but CBDCs could end up being a good intro.

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Huh. So my crazy theories actually make sense in the real world? Good to know.

To me they do.

I'm just worried that retail will bite the CBDC bait and chose them over decentralized solutions at first.

They might. We will have to see. There is going to be a lot of competition. Governments are going to run into a lot of issues.

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I always wanted to be on wall street to have a piece of the big boys' pie but that was impossible before.

Thanks to hive and blockchain it would the oportunity to get in.

This goes slowly very slowly some want to get there and tomorrow already get big they do not realize that they must go slowly, very slowly, although it costs, but we must always not falter, and if thanks to this we can be today venture capitalists with zero initial investment more than our time and effort over here.

Thanks for always updating us.

Best regards.

By the way let's hope Elons Musk and his new toy will serve to bring the masses via Twitter.

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Thanks to hive and blockchain it would the oportunity to get in.

Honestly there are many ways to get into this. Hive is the one many of us favor since we made it our home. However, this is spreading across much of the industry.

It will keep growing.

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We even see where human waste can be monetized

Thats fantastic... so we Europeans wash millions of Euros away every day with our water toilets, than need energy to clean up that water, while we depend on russian energy ressources
!LOL

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My grief counsellor died recently.
He was so good I didn't care.

Credit: reddit
@taskmaster4450, I sent you an $LOLZ on behalf of @beeber
Use the !LOL or !LOLZ command to share a joke and an $LOLZ.
Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards. Learn more.
(1/4)

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Well it is unavoidable with the present system. Other than fertilizer, I am not sure there are too many use cases for the waste.

Now they monetize it, others will develop, the biggest being research i.e. data.

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The power of tokenization is amazing indeed. It's a good thing to be an early adopter because as the pie gets bigger, so do our individual pieces

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There is no way the pie will not keep growing. We are seeing the monetization of everything starting to take place. And being an early adopter means we have not even come close to mass development.

Innovation in many areas is just getting started.

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Cryptocurrency is also bringing the Nigerian or African dream to reality. This is because when it comes to empowering individuals and funding their dreams, better than any government venture has ever done. As for the web, we all see how it empower the only a certain set of people, true ownership is something that wouldn't just change the financial status of people.

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I am not sure what the dreams are but getting people out of the pits of financial despair is what is unfolding.

We are entering the Age of Abundance on many levels. This is where we see a radical transformation of everything.

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We are entering the Age of Abundance on many levels. This is where we see a radical transformation of everything. — absolutely correct! We can evidently see the evolution involved in how a proper financial system is supposed to be with the advent calendars of blockchain technology .

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Blockchain, cryptocurrency, robotics, computerization, automation...all leading to a completely different society. Of course, with that brings a host of other problems especially if we do not structure things properly.

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I am happy to say that the younger generation in my Family is finally starting to realize what you just laid out here in this post. I have been driving these very points home to them almost daily so they can choose to pursue any career they want, not have to get a job to just survive. They realize the steady and passive income can really do wonders for them , especially as it compounds steadily over time. What a time to be alive!

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In 5 years, you will be hammering home the point of do whatever tokenized project they want to earn a living.

The opportunity will be there for them (and all).

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The basic premise to understand is that Web 3.0 is simply going to be larger in every way than what we presently have

It is definitely moving towards that direction and the impact is unstoppable

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To me , I would say cryto currency is the key to to all because the world is evolving and getting bigger daily. The world will then evolve to the mass use of cryto to all what they do..

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Depends upon what level you are looking at.

To me, the foundation is with IT, and the advancement of all things based in computerization. That is where the rapid expansion comes from since this is all technical.

However, the monetary layer is represent by cryptocurrency. Right now it is mostly fungible tokens but we cannot overlook the potential with NFTs.

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Well that's true tho.. yeah everything is just technical and we need to adapt to it..

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2 mo

I know you have been talking about the tokenization of everything for quite a while now. I still don't think I am seeing the full picture, but it is definitely becoming clearer. I think the first real breakthrough for me was when you started talking about MiamiCoin and the potential it has. That's when the whole tokenization of everything idea started becoming a little clearer to me. Great post!

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What are you missing? Why are you having such a tough time grasping it?

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2 mo

From a high level I am not seeing how everything can be tokenized. I never would have thought a city could be either though, so I just need to think about it some more. It's not that I am not grasping it, I just need real world examples to point to.

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Anything can have a digital twin represented by a token.

For example, an autonomous car could be tokenized and it have different people buy the token. A work of art can be tokenized. A building.

We can get paid for activity through tokenization. That can be walking (ala @actifit), eating healthy, or for watching particular shows.

Any community can be tokenized. Just like Hive/LEO/STEM, would could extend this to a church group, sports team, neighborhood, or movie cast.

Any business can be tokenized just like a corporation.

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Gaining that 'steady income' status was a game changer for me personally! Honestly, I would be totally screwed sans the Hive blockchain!

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I would be totally screwed sans the Hive blockchain!

It is always nice to read that and to know that Hive is changing lives. This is happening all over the world.

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It is truly amazing to see happening! Ha! I keep thinking about a 'Hive Homestead' ran by a DAO that 'farms' solar power, runs nodes, acts as an educational center for the technology and of course does actual farming. I keep picturing something like a campground or retreat involved also but it is all loose ideas I keep entertaining!

What I am getting at is that the direction some of these projects are taking (and the change being created in folks lives) makes me think that eventually we will see the kind of thing I mention above start happening sooner or later.

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This is what happens. When people start to understand the technology that is here and what is possible, innovation takes place.

And that can come from anyone, anywhere.

So you thoughts are just as valid as those of anyone else. Plus using the concept of a DAO really opens many doors. Of course, we still have not experimented much with DAOs so that is on the block.

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2 mo (edited)

When I first had the initial 'DAO for land procurement' idea I had just stumbled upon seeing a very small parcel of land for around thirteen thousand USD and was like: Hmmm half a dozen or more solar panels, some big Hive signs and a small equipment room to house a node, a picnic table, a water fountain and that would be all it needs!

To be clear it was on a semi busy road (for a rural one) and I was like: Well it is not big enough for a homestead but what else could it be used for?

Edit: Oh and the state I am in recently creating a program to halve the electricity cost if it is used for mining played its part. I am assuming block production/validation is in that category. All of which is one of the reasons I had been looking at land in the first place.

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Very interesting idea. It is one of those things that can lead to some rather creative initiatives.

Plus, as time goes by, will be easier to tokenize different things.

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Web 3.0 will bring greater awareness of technology around us. Crypto is going to be the next medium of exchange !

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It certainly feels that way. Still a lot of work to do but that is always the case early on.

We are seeing a paradigm shift which will affect billions of people. Right now is the onset of it.

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If one is being rewarded for eliminating yesterday's lunch, the resources are suddenly available for some long shots.

One can be rewarded even for stating the fact that he likes fish. I mean @berniesanders posted four years ago (on 2018.05.30) that I like fish, simply asking the question of "Do you like fish?", and tagging the post with #yesorno, and he earned $361.58 with that post.

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Well an extreme example but I get your point.

Even without gaming things. there is value in all of that.

We can expand it to philosophical questions, to eating healthy, or to whatever.

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YOLO (You Only Live Once)

I have been seeing this acronym and wonder what it means until last week, interestingly its a slang that has been around since 2012 I end up finding out...

I do believe cryptocurrency is just one of the many benefit, use case blockchain tech has to offer, we are still going to seem a lot more uses for both as the years go by, some we have not even imagine.

Having most or everything Monetized is where we are headed and we are already seeing the beginning of it here on the Hive ecosystem.

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There are going to be a lot of use cases for Blockchain. Crypto is just one of them.

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At this time, it is primarily focused upon speculation and market movements. This will change as deeper levels of innovation start to surface.

I think this is where a lot of people (those I know who are not 'yet' on the blockchain) get stuck. It's hard to jump into something when the entire space is all about 'speculation and market movements'. But once the blockchain extends beyond cryptocurrency and into more concrete projects it will be easier for the rest of the world to see its true power and everything else it represents (true ownership, decentralization, tokenization of everything, etc.).

But then again, you follow it up with this statement:

People are able to safely move up the risk curve since they can afford to have that money go down the toilet.

Now that you've mentioned it, I am just realizing how much less risk-averse I have become since being exposed to cryptocurrency.

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Yes and that is where yield comes in. We cant deny the financial component yet it all doesnt have to be speculation.

We need to transition to investing, to generate real world wealth and not just speculation to make more money.

Obviously, the latter has to be done to have the money to invest in wealth generating activities/businesses.

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True. I guess it's a matter of time, now. We just have to wait for more cryptocurrency and blockchain projects to consistently do well.

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We are working on it. There are things starting to expand on Hive.

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So true. There are so many interesting projects on Hive now I feel like a kid in a candy store. Lots of things for different people. It's exciting times. 😁

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I remember when I was able to follow all the projects taking place.

Now, forget it. Too much going on.

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Understanding Web 3.0 is going to be tough when we can't even define it at this point. However, I do agree that owning a piece of the pie isn't such a bad idea and it could even life-changing money in some cases.

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We couldnt define Web 2.0 until after the fact either.

It becomes evident with time. For now, it is a direction we move towards, based upon an new data structure.

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Having a piece of a pie of crypto is really one hell of a worthy bite .

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It is so sweet.

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2 mo

You explained it very well about the web3, and thats true that the cryptocurrency and blockchain changing the world.

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awesome piece. Those who arent onCHAIN will pay dearly later on.

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They will get here eventually. For now, they are just slow to climb aboard.

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you are right, and we should try and welcome them. although the mainstream media does a good job to keep them away.

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FUD is a powerful weapon. We need to counter that. But you are right, it is tough.

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I'm still perplexed as to why certain banks and other financial institutions in Ghana and other regions of Africa refuse to collaborate in order to accept cryptocurrencies in transactions. They are terrified of the blockchain interfering with their daily lives. They have no idea how much money they are losing by refusing to adapt to the digital era. Thank you for bringing this to our attention, sir @taskmaster4450 .

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It is a threat to their system. There is really no other way to sugarcoat it. The banks are threatened by this and they know it.

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But l think collaborating with crypto transactions will be more of benefits to them also. Imagine if Ghanaians can power up some hive by buying crypto with fiat.. Or even make transfers from crypto wallets to their bank accounts?

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That doesnt really benefit then banks other than, perhaps, some transaction fees. It is taking money out of the banking system. That is not their goal.

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Exactly, the transaction charges will however help generate something for them. It may not be so significant though. Thanks so much too for helping me understand this better sir.

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That is what we are here for. Hopefully we can all help each other and keep passing the knowledge on to others.

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Enormous and mind-blowing possibilities and opportunities in out midst that it becomes overwhelming especially when one (like me) doesn't know where to position oneself.

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You are already positioned well. You are on Hive, that is a great starting point. Starting to earn crypto is the best place to begin.

Leofinance also offers that along with education. It will get clearer in time.

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That's true though, being here is already a good start. Learning quick in this fast-evolving space is the challenge, thanks to LF for offering readily available info. So the work is on me, hehe

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2 mo

Having an ownership stake in vital due to the fact this pie is getting bigger

Speaking about this, the Pie is getting bigger but at the same time, Bitcoin still holds dominance of the market. Do we say other altcoins just share the pie with Bitcoin or there hasn't just been a distribution of equality.

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The other coins are based upon utility. They are growing in use case but still under development.

I forecast that Bitcoin's dominance will drop to 10% or so at some point. Right now it is still a speculation game. We just need to keep building towards the network effect. Then we will own a bigger piece of the pie.

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2 mo

The basic premise to understand is that Web 3.0 is simply going to be larger in every way than what we presently have. This is essentially what we are dealing with: the next generation Internet.

"A possibility that Twitter will become a decentralized Web3.0 Dapp" is this possible with Elon buying the company? Remember that Opera integrate Web3.0 which was a starting point for centralized webs.

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Web 2.0 really cannot become Web 3.0. The business model doesnt make it possible.

Elon owes a lot money for the buyout of Twitter. He needs profitability.

We will not see true immutability nor data ownership with Twitter.

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Came in for my morning cup of kool-aid.

I joke about it, yet I truly believe that we are disrupting the financial system just like you describe.

And I think that leaving comments like this is a part of the revolution.

The pennies I get from my comments do seem like much, but keep stacking pennies, for years, and add in a constant interest rate and BAM, you have governance over a small project.

Mmmmmm. Grape flavored. Love it.

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I joke about it, yet I truly believe that we are disrupting the financial system just like you describe.

I agree with you, we are. There is a lot to DeFi and generating a completely new paradigm. The fact that tokenization is creating something completely different is exciting.

The early stages will seem obvious down the road and people were like, how could we not see it?

Well we do see it.

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The ability to generate passive income with no overhead is overlooked. Why would I buy a house to rent to someone when I could just stake that money for 20%. No risk of bad renters or damages that need to be fixed.

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Remember when the word multi-media was used to describe online websites that had text, sound, and video?
Now we are getting into technology that not even the realm of science fiction had predicted. For example, old sci-fi books, comic books even black and white movies used rockets with a similar design to the real thing, before we even had planes in the air.
The next 5 years is going to be extremely interesting.

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