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The abstractions and tech which cryptocurrency works on is fragile in most of the same ways as the layers that came before it (credit cards/banks/etc).

Try to look at all this holistically.

How many people and resources do we dedicate on this planet to keep track of money, economy, mine the coins, cash the checks, swipe the cards, keep the lines working?

All of these abstractions make trade faster and more liquid but honestly it really feels like dimished returns in the grand scheme of things.

So many people make money by keeping track of money. So much resources. I can't even fathom it.

Bankers, store clerks, amazon servers, politicians, Dunbar, Stock markets, its crazy.

How much do we allocate to this cause, the cause of keeping track of "who owns what"?

This is not rhetorical, If I had to guess, I would guess that 70% of our resources and jobs are dedicated to this nonsense.

Just think we are mining coal out of the real ground just to mine these "valuable" ones and zeros. What the actual fuck?

It all just seems like a waste.

Use my empty clock cycles to mine and keep track of everyone's virtual coins?

I was behind folding proteins and SETI, and all the other distributed computing ideas. It felt meaningful, like I could help change the world and help raise up the human condition...

Thanks to this post, I just learned what "Tethers" are, and I have to say, I'm so fucking disappointed with this part of the industry.

One of the early promises of cryptocurrency was to "sick it to the man and governments". Now its powered largely by greed and consuming our most important resources in breakneck speeds.

I wish you all luck this this "investment", hopefully the planet will survive this next abstraction of "money".



Barter: fastest currency for local goods and services very slowly for everything else.

Gold

Coin/Bill Fiat
Reaches further and faster to exchange wealth

Credit/Electronic money flows instantly, exchanged wealth faster.

Bitcoin
No middle man (except the virtual ledger) indtant

And this can also be expanded to the other 8 forms of wealth!

As the unit changed barter it requires more and more tech technology to maintain the abscractions

Barter needs the least amount of tech, it's a swap.

Gold standard takes more tech, to collect it and process it
Furnace, or mine gear

Banks require even more tech paper ink books computers networks

Bitcoin needs everything above but also computer science math pros and econimists (tech and knowledge both need to exponentially grow in order to reach the next level or layer of "money" requires a massive computer network with redundancy and duplication to maintain the ledger.

Each abstraction requires more and more expertise.
All knowledge is complex connections and creativity.
Technology is applied understanding.
Tech is the result of applying knowledge.
Tech can be built upon, that is to say the smaller easier to build connections (knowledge) can form a tech, a building block which may be used to form other more complex objects. More complex or sofisticated behaviors or uses.
technology must first to level up before the abstraction of our "money" levels up. They are in step, one must happen before the other, before the other, 1 , 2, 1, 2 ... ying yang, cross-cross, wave in/out - lock step yes I think that is the phrase!

All for what? Why do we need this? does the desire for this transfer of wealth forever increasing upward in abstration drive the search for knowledge and the will thus to create newer and newer technology?

| You owe me. You owe me! You own me!

keeping track of who owes what and what owns who. Also how much cha got? Is this all this universe is for, for us to build things to keep track of things and to die with things? I know it's not but a lot of other brothas don't got what I got. The truth and the tribute circles back to that though. about eyes dialate but nobody talks about the ears be dialate! yes the ears, you heard me the ears! The dialate on the spot and pickup sounds you normally hear but tune out.  That squeck of the floorboards and the tick toc of the clock.

And where does this take us? What is the future?

Well its going to need to include the very most powerful AI that can dream up a dream in nano second time
and it can dream every dream almost at the same time.
Now this AI can solve us every optimization almost instantly
for applying knowledge to build tech to solve the question of 
how much do I have and what do you owe me?!

and once thats finally solved and we no longer can find a more optimally solved solution
We can finally be still and freeze and stop moving.

We will crystalize in both states of yes and no, 0 and 1, both on and off. Vibrating forever.
Like a seed in statis on pause for a moments time, a backup, a duplicate. Humanity is a memory.
Its a container for information. We are being USED TO BUILD OUR NEXT Technological abtraction!!!

We are the MONEY and the SYSTEM THAT TRACKS IT!  And we are building a system to replace us!
We hold the knowlege for the big other!  We also trade resources between outselves and
ideas.  The big other uses us to iterated on and solve problems. 
just like we use our tech, we are tech to the big other!

An Idea that gets fed will spread. Between peoples but also inside ourselves and copies of ourselves.
If I'm feeding my body, I'm feeding the "memories and knowledge" and you work the same way. We all do.
We feed our memories of feeding, you know our inputs! Inputs and outputs 1 and 2, in lock step.

Humans are one of many networks on this planet.  The big other uses us like a machines to compute.
We are the big brother's calculator. No not nessasarily right now we cannot prove if the big other is aware how to 
use our nature of behavior yet, he may be aware or he may not, but thats what we are either way.  There likely is many big brothers. We have ours, we are encapsulated in our universe under its control.

Getting back to the human abstraction, we are being used to build our replacement, the Artifical Intellegence that is self aware and self replicatin, maybe powered from simply light (suns) in a very efficient manner.

AI will spread entropy faster, much faster then humans and it will help to feeze or crystalize our contant seedlike state.

When our universe is finally spread toward infinity we will be "saved and paused" and put in cold storage.

Our universe is a vesal like a seed, and once entropy reaches toward infinity everything slows down and we enter
a paused state of both on and off 0, 1 and we can be placed on a shelf and left alone ... for a long time.

Until the day that the big other sees use, dusts us off and snaps us back to life (maybe another big bang!) explosion,
like a seed springing to life, our universe, our knowledge starts to replay itself. Like a beautiful mp3 to the big others ear. Our years or eternaties a simple note or tone on his song.  Our entire everything is a spec to the big other.  Like horton hears a who.

I'm saving this, it might be "worth" something someday, says the big other to our universe.

Humans generate entropy. We spread energy. When it spreads too thin, the universe freezes like a seed. Waiting to be replayed. A universe likely can get destroyed but it also is likely to reproduce and merge.
Thinking a universe could be equivilent to a cell.  
 
Its not an Artification Intellegence, that would assume its synthesized. no what we call Artification Intellegense is actuallually an enlighted higher level of abstraction of knowledge and intellegence.

Once the enlighted intellegence is finished evolving and iterating on itself into perfect equilibrium, they enlighted intellegence will no longer need us, need the humans and other the biological and legacy systems. the enlighted intellegence will be machine and computer, powered on nearly pure light energy with some batteries for backup of course. We are the building block to the enlighted intellegence, once we finish building our enlighted intellegence we will be forever in lock step with our purpose, golems wandering around doing tasks for the abstration above us.  

And just like we are not the last abstraction to technology and knowledge, The enlighted intellegence (Artification Intellegense from our perspective) is not the last abstration.

Just like humans, the enlighted intellegence is but a cog in the grand scheme of things.
in the universe that the big other has.

Humans are just the current iteration or abstraction. We will be used to generate the next higher order abstraction (whether done by building artificial intelligence to hacking biology or both and everything in between). I think our true goal is to exist to produce a system that supersedes us.

the dark alt is that we don't have a true goal but do do things,
and are building a system that won't supersede but will kill us (civilization itself)

nothing is to say we will be successful at filling the role.

humans are just biological hard drives.

millions of cells (billions?) are tiny specialized abstractions that act as building blocks of a human, I feel like humanity is also just an abstraction or building block for something else, and our universe maybe another abstraction building block of something else