Image Credit: Forbes
As obvious as it is, it is always good to remember that, fortunately, people are different and yours choices aren't made solely by technical criteria:
" As should be obvious, technological choices are not based exclusively on technical aspects, but also on personal and philosophical choices (even if not consciously!). And, let's face it, the world is less boring due to the diversity of preferences and opinions . "
I'm remembering this because these days in a Telegram group (from clients of a cryptocurrency research company) I was described as " arrogant " for expressing an opinion different from "group common sense".
People sometimes confuse humor with mockery... and I don't blame them for that, as Antoine de Saint-Exupéry said : "Words are sources of misunderstandings... "
I don't understand about economics and I don't pretend to make a definition of richness that suits everyone (look at again the title of this article!). But I imagine that thinking about exchange mechanisms and/or reserve of value ( cryptocurrencies ) requires having, at least, some clarity about what you consider as wealth!
Because, ultimately, we are interested in economics, money, cryptocurrencies and so on, because we want, consciously or unconsciously, to generate and/or accumulate/socialize wealth!
Starting from the premise of Ockham's Razor : The simplest explanation is the best :-) I'm considering as wealth everything that gives you the freedom to make your own personal choices and doesn't make it impossible for others to make their own personal choices too!
to have free time is a form of wealth;
to have knowledge to produce your own livelihood is a form of wealth;
to have knowledge to manage your own content is a form of wealth;
To shorten the conversation... FOR ME, richness isn't having my personal account with much cryptocurrencies or FIAT money or lots of material goods.
Having wealth is being able to make simple choices to live with purpose and allow others to do it too , if they wish!
So, for me, wealth has a personal dimension but it isn't independent of life in society!
But wait, wasn't this article about cryptocurrencies? Yes it is! I just wanted to give you a context... But come on!
Here is where everything mixes and I make my choices . Yes, people who think completely different from me may want the same economical tools for completely antagonistic reasons and that's OK!
I want an "economic tool" that allows me to go anywhere in the world and can use it to acquire goods and services in a simple and easy way, regardless of National States, monetary policies and/or taxes and complex legislation. Did I hear Bitcoin Cash production :-) ?
And I don't want it to do illegal activities or activities that harm others, I just want to do simple things like pay for a stay, buy supplies for a bike or motorcycle or even buy food and boost the local economy!
I don't want ( I don't have the time or capacity) to change the financial system to fit my way of seeing the world, so I want this "economic tool" to have some compatibility with the legacy financial system and the ability to be compatible with the future financial system ! Did I hear ADA dear reader ;-)
I don't have the time, talent, expertise or desire to follow the entire cryptoeconomics scene. I want to focus on technological minimalism and on living and creating value for the world with my work . That's why I'm not interested in financial sophistications (judge me). I'm not interested in farming, derivatives, tokenizing life, arts, etc...
I want simplicity, I want time for the demons that haunt me ...
And, last but not least, I want ecosystems that are open source, energy efficient (Did I hear PoS ?) and that can coexist with other technological and economic paradigms. So I have no way of knowing who the winners of this new economy will be!
So, it makes sense to take some risk with some cryptocurrencies that, based on good (ok, this is very subjective) economic and technological fundamentals - in that order, can produce disruption in an increasingly digitized and informational society... Did I hear timid whispers from ETH and FIL ?
It is absolutely ok for you completely disagree with me, have other views or investment theses!
Your investments, your cryptocurrencies, your NFTs, your private keys were not (and never will not be) impacted by my choices :-)
This text is not an investment recommendation. Always do your own research!