The RUNE-ings on the wall

Back in the day (it seems so long ago), friends in chat were talking about getting some new nonsense called "RUNE" that @khaleelkazi was shilling and I thought, "why not" and bought a few hundred dollars worth. At the time, it was around 65 cents. For quite a while, I have had that RUNE sitting in a wallet doing nothing, but @revisesociology mentioned there was a new pool on https://app.thorswap.finance/ so I decided to put some in and see where it leads. I don't have that much, but since it is currently offering around 1000% for liquidity providers, maybe I will earn a bit more.

Or maybe lose it all, as I hear there are some problems with the pool at the moment.

That would suck.

I don't normally talk too much about the tokens I buy, as I find it pretty boring. Sure, everyone is interested in earning more, but for me, there is far more personal value in the social side of things - and I don't mean Facebook and Instagram. It is the relationships and dynamics they form, that is really interesting in an economy, where there are all kinds of events that take place to interact and compound against each other all over the world, trillions of times a day.

Of course, most of these pass by unseen and largely unobserved (at least by human eyes), but they all have an effect on the entire economy. Most of us as individuals however, have very little effect on the economy, as individuals. But in combination, we are what drive everything through the supply and demand of pretty much everything.

This means that we are actually the directors of the economy, though it doesn't feel like it most of the time, since governments, institutions and the largest corporations seem to make most of the decisions on what we can do with our money. Yeah, we all (some of us her at least) know it isn't really our money, as it is controlled centrally, but without us, those central points of control, have nothing to control and therefore, collapse under their own weight.

Shifts in demand usher in the rise and the fall of industries, as if there is no demand, the supply will get strangled until nothing left. Demand changes for many reasons, but generally it is technological advancement of some kind that makes what it is replacing, increasingly obsolete. What is happening now though, is for the first time in human history, we are able to organize ourselves at a global level as individuals and have trade between, without any central authority to back it or transfer it.

This means, demand can shift in ways we have never seen at scale before, as we can demand from and supply to each other and from anywhere in the world. With the advent of new digital asset classes comes new use cases and a shifting of what we can value. Not only does this change in process distribute increasing demand through personal gateways rather than the controlled gateways of institutions, there is also a reduction in demand on the centralized gateways that up until now, have essentially been granted monopoly status through regulation, skimming large amounts of value by governmental decree.

As more people participate in direct and new asset trade in the economy, the entire centralized system starts to suffer, as it is very top heavy by design, as their legislated status means there is no cap on how much of the economy they can capture and the model they have, means that they can continuously keep investing our resources into business and asset classes to increase their ownership exposure and subsequent earnings. They have an increasing share of the pool, while we don't have access to the pool at all, unless we pay them to get in.

At the moment, the crypto market is pretty tiny in the grand scheme of things, but it is growing rapidly and while people are often limping in, all of these trickles soon become floods. Even if the average person put 1% of their income into crypto, that is 1% that isn't going into traditional asset classes and consumption. And as they start to see oversized returns on their investment in comparison, one becomes two, then five and so on - until even small businesses in their local community start getting powered by global investors, even if they are micro investors.

It really does change not only the economy, but everything as we know it to be today, which means our lives are going to be affected on more than the financial level. Everything ew do and care about is going to be affected in some way and it will ultimately be driven by us, through what, how and why we demand. This changes opportunity and culture, it changes the businesses we start, work for and use - and it changes us in fundamental ways.

This is far more interesting to consider than the price of Bitcoin, but the price and potential is also part of this dynamic and our interest in it illustrates just how imbalanced the global economy is. For those who haven't noticed, the hardest people to get into crypto, are generally the ones who are doing fine in the current economy and don't see a problem with it. The easiest to get in are those who are struggling and those who are not, but see just how broken the economy is, even if they have benefited from it.

As I see it, there is more economic pain coming and many people are going to be forced, whether they like it or not, to acknowledge that this isn't working and it has to be changed. In time, all of the naysayers are going to end up, holding crypto of some sort, because it will be unavoidable. What will be interesting is that for the first time, the new tech isn't landing in the hands of the elite first, it is in the hands of the people who need it the most.

It is going to be an incredibly disrupted decade ahead.

Taraz [ Gen1: Hive ]

My RUNE is earning in the pool - I was up a lot, then lost half of what I was up in a couple minutes - not sure what is going on... Should I sleep on it?