Extractive Systems Are Death: Cryptocurrency Needs To Be Inclusive

in hive-181335 •  16 days ago 

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Systems where people just take end up killing economies. This is true throughout the world. Even within valued economies such as the US, we see extractive entities such as Visa that basically take a cut off many transactions.

In this video I discuss the idea of how we, collectively, need to contribute as opposed to taking away. This is how we "invest" in the future of our platforms.


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Friction is bad. The frictionless systems we create around here are profitable because we can own stake in the currency itself. We no longer have to worry about capturing value from apps... although most devs are programmed to look for ways to do this. It's going to take a while to get where we need to be.

Great point @edicted. One of the most overlooked aspects, from an economic perspective, is the velocity of money. Many want to focus upon other factors but this can override everything. If an economy has the velocity of money flowing at an incredible rate, its growth will be outstanding.

Friction obviously slows that down. Extractors tend to get in the way of things. By removing this, extra economic growth is the natural result since the friction was removed. This can only do one thing: accelerate the velocity of money.

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I think you hit the nail on the head with regard to the important of crpyto in emerging and challenging economies. Simply by 'gaming' on Hive someone could start to make an income which is really significant for their standard of living. I've been trying to create content which points towards that. Yes, $1000 isn't life changing for someone in LA or London. Yet for some of those in Venezuala where the economy is being inflated to exctinction, crypto is actually being seen as a hedge. I love your thoughts, again. Thanks Taskmaster! Upvoted 100%

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