141 karma · joined May 20, 2016
In a world where food is abundant (for now) that's what keeps everyone else poor. Limit their ability to become greedy landlords and they'll be forced to invest in real businesses and take risks.
This can be started on a local level and enforced easily by only allowing people who live in the homes or community trusts or government to own them.
If some billionaire owns 10 ferraris, has millions in offshore accounts and a super yacht why should anyone else care? It's not taking away from anyone and creates demand for luxuries that wouldn't otherwise exist and create jobs.
It became taboo and phased out or banned because of obvious conflicts of interest and incentives but if managed well to not enable those incentives it could make a come back.
So if you're a saver, this is the problem that bitcoin solves. A way for savers to protect themselves from being robbed by central bankers to bail out asset speculators.
Bitcoin is also easier to take with you when you relocate. Bitcoin is a weapon is the battle of savers vs debtors.
Be careful of getting emotional about it. It could well be techies and goldbugs who knew about it early on and regret not buying earlier that succumb to fomo last after stewing over it too long.
It's best to buy just enough to assuage your feelings so that you're comfortable with whatever happens and then forget about it.
With so many being created, cryptocurrencies will come and go so speculating on which will become the winner is a time consuming obession. As dev Andreas Antonopolous says the best investment you can make is in learning the tech.
Solidity and other smart contract developers are in serious demand, paying stupid salaries as every finance company plows money into them. The space is still full of opportunities for developers if you look forward and around and not back.
It's the one counterbalance to the debt based asset bubbles of the last 40 years that have transferred wealth to pensioners at the expense of the young
The law books are the biggest bunch of out of date legacy code that nobody understands apart from a few overpaid experts and is in need of a massive refactoring.
Most will lose and go broke but a lot of infrastructure gets left behind that later, more considered, businesses build on.
True of the railways, the automobile, telecoms and the internet.
Most crypto currencies will be worthless but systems be created to allow me to buy shares from you with no broker or stock exchange, to track the ownership of patents and property publicly, to enforce government spending to prevent cronyism and uses that nobody has yet thought of.
Best investment is to learn the skills.
Anyone can write an app that consumes the data. https://api.tfl.gov.uk/
City mapper has their own data sources but a lot is still from the public API that TFL provides for free with the reasoning that app developers will do a better job than TFL could.
It's the aftermath of QE and years of zero rates that I wasn't prepared for so it turned out to be a very expensive break.