Thousands of new sources of capital will create many new currencies, which will fund business models that will seem outrageous by today’s standards. The Book of the Month Club never had it so good. A network of people watching other people play videogames. Popular gamers developed a network called Twitch, it grew to 55 million gamers and Amazon bought it for a billion dollars. They didn’t touch the controllers, they watched my gaming as if it were TV programming. Next Counterstrike and now World of Warcraft, Call of Duty, et al in the living room. Then through the age of Pac Man, then Mortal Combat in arcades. I started out with pinball in the 70s, listening to the Eagles. I like to give the example of the rise of video games. Imagine, therefore a world in which social capital becomes actually fungible. However all of these have been limited by the fairly narrow regimes of capitalization. Social media has expanded that to the very ends of cognition. Those of us who grew up with Walter Cronkite and three network TV stations have seen, dare I say, the devolution of authority inherent in there now being >2000 channels of television. It’s rather the keystone of a post-modern economic order. I see the great opportunity for cryptocurrencies to be able to monetize attention in new ways. The spam of the future will be much more insidious, and seductive. Just as today there are people who have been able to take advantage of PGP, the overwhelming majority of people are plagued by spam. These will be the people who have the ability and/or connections to read and understand computer code. I have no doubt that a new class of individuals will arise who understand these things and will consequently make every effort to safeguard their anonymity. It will answer the question at the top of mind of every investigation. They will be absolutely, positively identifiable in a global, distributed web.Ī public distributed blockchain is a perfect history. People in the cryptocurrency economy will always be on the grid, so to speak. It will do for identity what GPS did for location. The advance and spread of cryptocurrencies requires ‘perfected’ security.
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