Embracing The Abundance Mindset

in LeoFinance4 months ago

We are entering a different era. Some call it "Magic Internet Money". This concept is not so far-fetched. The world is changing before our eyes yet most of us are slow to embrace it.

This is not surprising considering we were reared in a world which still promotes scarcity. The concept of abundance is foreign to us although there are examples of it that we all know intimately.

Over the last 25 years, we got very valuable lessons of what happens when the Internet enters an industry. From a number of examples, we see two things that are common.

They are:

  • Whatever is there gets obliterated if it does not change
  • Abundance is created

These are two factors that took place on numerous occasions. We saw it with information, music, video, communication, and now shopping.

What do newspapers, record companies, video rental locations, and long distance phone divisions have in common? Most of them were wiped out. The Internet seriously altered the landscape. We are also witnessing hundreds of physical retailers going under as the likes of Amazon take over.

Of course, in each of those areas, abundance is before us. Consider all the information we have available to us. It is more than we can consume in 10,000 lifetimes (and growing). The same is said for audio, video, and ways to communicate, as well as people to communicate with.

It is now possible to order most anything we want off the Internet. The choices we have before us are virtually unlimited, certainly outpacing the financial resources we have.

Using this examples, now let us apply this concept to the latest area of Internet entry: money.

Viewed through this lens, we can see how the "Magic Internet Money" is not uncharacteristic. In fact, it is in keeping with a multi-decade trend we watched that occurred over a number of industries. Many are baffled at the idea of money reproducing, creating abundance. Yet it is no different than any of the other industries which experienced digitization.


Source

Abundance means there will be more than all of us can utilize. This sounds outlandish when talking about money yet it is going to follow the same pattern we see firmly in place.

All of this is a given. The powers of the Internet do not suddenly change simply because it entered a new industry. We will see the fate of the banking system mirror that of the record companies and newspapers. Some will survive for the coming decades as they adapt. Many, if not most, will not.

Also, the value of their service will be radically altered. The monopoly they enjoy, thus power, will be radically diminished.

Of course, this all is operating in a much different way than 25 years ago. Back then, the Internet was very immature. Today, while not fully grown up, we are nearing the adolescence stage. We are much further along as compared to the 1990s.

This is going to change all facets of society (and humanity). Shifting from a world of financial scarcity to one of abundance is something we have not seen before. Digitization is operating in more areas of life than at any other time in history.

The question is are we ready for it? Watching the actions of people, it is evident that we are not. The same characteristics that drive us are still in play. This is understandable since this all is so new.

coingecko.png

Here is a snapshot of the latest pricing from Coingecko. As we can see the total market cap for these 6,800 coins is roughly $2.1 trillion. It was just a few months back that the total crossed the $1 trillion barrier. Yet, while it took more than a decade to do that, it took less than 120 days to hit the second trillion.

How long will it take to reach the third trillion?

Of course, we tend to focus upon the market cap value. That said, what happens when, instead of 6,800 tokens, we are dealing with 20,000? Or 50,000? Remember, we are in the era of abundance.

Also, it is important to note that none of this deals with NFTs. We know there is a lot of money flowing into that arena right now. How that will unfold is still playing out. What we do know is that digital ownership is going to be vital going forward and NFTs provide that.


Source

All of this is taking place with roughly 100 million people involved. There are now more than 7.5 billion people on the planet. We see more than 5 billion of them already connected to the Internet. This means that we are dealing with just a small fraction of the total population.

The Network Effect here is going to be massive. If these moves can take place with 100 million people, plus a few large institutions, what happens when we are dealing with 2 or 3 billion people being involved? What do the numbers look like then?

Even using a linear multiple, we see how a minimum of a 20x is in order.

Here is where things get very interesting. Money is really nothing more than a tool for collaboration. It allows us to form groups to get things done. Some of those are small while others, such as an entire economy, are rather large.

With the state of financial abundance forthcoming, what will we be able to do with the money? While many focus upon Lambos and McMansions, that is rather primitive. That is akin to using the Internet to join a message board. The Internet far surpassed that.

We will also eclipse the idea of wealth symbols. They will still be there to some degree but much less important. If everyone can afford a Ferrari, what does it really mean?

Instead, the interesting part is what we can do with the money. What can we fund and generate? Are there major problems that we can begin to work upon simply because the financial resources are available?

Embrace this idea and begin to think of ways to radically alter parts of society.

It is the stage we are at.


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I can't get my head around this at all. I don't understand how this creates abundance. It really does sound like "Magic Internet Money".

Maybe true abundance is an internal state rather than something expressed externally. It certainly seems to be relative and with a personal psychological element attached to it.

Do I believe we live in an abundant universe. "Yes, definitely". However, it's very clear that that abundance is not distributed evenly.

Are there major problems that we can begin to work upon simply because the financial resources are available?

I think there are already plenty of financial resources available that are not used to work upon many major problems. Having those resources be digital will not make an ounce of difference to that unless human psychology changes.

Most of us live with a scarcity mindset and until we evolve beyond that I don't see digital finances bringing much improvement. In fact, it might make things worse since it seems like there will be even fewer super rich people than there are now (I'm thinking of the scarcity of bitcoin here).

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Good points, i think the problem is we're in a space that puts maybe too much emphasis on technology. As to say the engineers and developers still believe there is this relational idea of more and more tech to advance the human mindset. I think its the direct opposite.

I think it's more like we keep building systems that takes the human being completely out. We wanna automate everything away even human interaction for the most part. So in systems like this many of the investment vehicles are staged around powering up and staking and defi and nfts and this and that.

However, every element of this leaves out human psychology. So they feel we're advancing to some utopia when we haven't addressed the most basic elements first. In restrospect we could always come to the conclusion that we always had enough resources to supply every human on the planet many times over. That it is the building of pyramids of structures and hierarchies that create politically any scarcity at all. I mean we got a super gigantic reactor in space powering our planet.

So it's not so much technology is causing us to realize that. Many of these shifts have to come from the psyche of the people and until the people have come into that state of awarness and consciousness which they should have already i can't believe we're this backwards in the 21st century. However we either still do things socio-economically that will literally destroy our economy we do it anyway.

So it's not the technology advancing us in this respect alone. It's gotta be philosphy in there psychology in there we actually have to think about this in a way beyond the reptilian brain. We have the same mindset of the guy who dumps toxic waste in our backyards to make a profit. Only to have his children grow 6 fingers as a result of that later in the future as an outcome of shortsidedness and plain ole stupididy. Will we get beyond this? Yes we will. Will it come from the systems we're building? It certainly won't come from the systems alone.

So when i see projects not specifically addressing the problems we need to address. I don't put much weight into them. They don't carry much gravitas with me because they lack the ability to isolate the true problem.

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Without a doubt.

Technological capabilities always outpace human embracing what is being offered. Technology changes quicker than people do. The hardest thing in the world to change is the human mind.

I think what is happening is people are waking up to what is truly possible and not necessarily having to swallow what is fed by the present system. As you said, we have the resources to provide to the entire planet, many times over. However, people just accept that scarcity is necessary and a part of life.

They tend to see all that is taking place as well as how much things changed in the last few decades.

So we are still mired in a hierarchical structured system which generates scarcity since those at the top of the pyramid are able to control the vast amount of resources.

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Good points

Thanks. Glad to hear someone got what I was trying to say.

So they feel we're advancing to some utopia when we haven't addressed the most basic elements first.

Many of these shifts have to come from the psyche of the people.

Exactly!

!ENGAGE 100

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

Why did you put together a post detailing all the scarcity? Why did you limit digital financial abundance only to Bitcoin?

That is the starting point of your limitations.

Perhaps looks beyond that to see abundance.

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Why did you put together a post detailing all the scarcity?

Hmmm. I don't think I did. I did say "Do I believe we live in an abundant universe. "Yes, definitely""

Why did you limit digital financial abundance only to Bitcoin?

Good point. It was just what came to mind as I was writing and only one view point. Seems a bit harsh to interpret it as

the starting point of your limitations.

I do see abundance.

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How long will it take to reach the third trillion?

Just the matter of time.

Crypto is life changing for many

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It will happen as there is too much growth and development taking place.

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2 Month?

Yes!

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We have a lot of time and it's still a project or technology in its nearly first 10 years
It still has a lot to accomplish
If I had a time travel machine I would travel what would be the case in another 10 years
It's very exciting

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It is exciting to think about where things will be in 10 years, on many different levels. We will see what happens in the next 5 since that will lay the foundation for that time forward.

Exciting times we are in.

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early adoption will cause the market cap to grow at an incredible pace. Think about going from 1 to 2. That's easy. 50-100 is much harder, but that's still a double. The only difference is here we are talking trillion. I think we will see another double pretty fast, but it will take longer and longer to keep up that trend.

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I think we will see another double pretty fast, but it will take longer and longer to keep up that trend.

Actually exponential growth curves mean the opposite happens. Sure there is a point on the S Curve where markets mature.

However, if there is the expansion coming that many of us believe, doubling in value is not going to be a problem. Hell we will see a doubling in the users involved which will have a greater impact on the value than that.

Where the correlation is, I have no idea. It could be $50 trillion...it could be $10 trillion.

We will have to see where things go with the adoption rate.

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I think we were talking about about the same thing. I’m trying to predict when the curve slows down. I think it will take a while and the market cap will be huge.

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I'll say congratulations to us and to cub for being listed on coingecko. With the estimation here it proves despite all the money not enough people are still involved with crypto what if this figure totally changes, it will be huge.

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Yes and neither CUB or LEO are factored into the total market cap. Granted they are small figures compared to the overall numbers but until they are all taking into account we see something much greater than what we are seeing now.

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Exactly, time is of course of the essence, I can wait, I didn't know CUB or LEO are not factored into the total market cap.

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They dont have accurate reads on the total token distribution so the total market cap of them is blank. This means they are not factored into the overall numbers.

There are probably hundreds (or thousands) in the same position.

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Money will be like other things. Paper books have not disappeared, nor have gramophone records. It's just less of that and more digital stuff. Let's say that in the next couple of decades, half of the existing fiat money will be poured into various crypto coins. But the fiat money will remain. Like newspapers and books that are still here.
But it will still be a huge and global change.

I agree. It will take many decades for some things to transition. Banks are not going to disappear overnight anymore than newspapers vanished. Yes many did go under, merge, or get bought out. The same will happen within the financial industry.

That said, the "information" industry is much bigger. Newspapers are smaller but blogs and other form of info (twitter etc...) provide us with an abundance we didnt know before.

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I think the market cap of crypto may well reach $5-$7 trillion in this bull cycle by the fourth quarter of this year. BTC will reach $200,000-$400,000. The rest of the market will account for the rest, which is when we will see really wild token valuations at the top for a brief time.

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I cant argue with your forecasts. They might not be right but not out of the question either.

It could happen easily.

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I think monopolies slowly get faded out of society. The oil monopolies are slowly losing their control since renewable energies and plastic replacements are starting to take over. I am hoping Starlink and 5G disrupts the cable company monopolies. Even in the market we get cycles, I think in a few decades we will have a new top 5 companies and it should be drastically different compared to the big tech corporations.

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Even a YouTube, monopolistic as they are, could see a tremendous hit if apps such as 3Speak start to gain traction.

Monopolies are like dams, the longer they hold things back, the more powerful the eruption when they do break.

Technology is the great monopoly destroyer.

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Yea its also the reason why I felt it was awkward why Facebook and the other big tech corporations wanted regulations. By doing so, they can stifle their competitors.

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This was an encouraging thing to read as I start a new week! !BEER

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Always good to kick the week off on a good note.

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The age of abundance!!! Even the comment section on #Hive is growing

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Dapplr still not a thing in Germany... nice to see people using it tho.

LOL very good point.

And those comments are a wealth of knowledge...all for free.

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The Internet changued the world in the past and the blockchain in this moment, it maybe get a lot of fortune in the president and future.

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The Internet continues to evolve only making what you say even more impactful.

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I don't know about everybody affording a Ferrari, I think if everybody would be that wealthy the price of status symbols would simply go up. Status is something very important in our psychology.

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Status is something very important in our psychology.

That maybe true yet it is evident that status symbols change.

There was a time, in the US, when a mobile phone was a tremendous symbol of status. Now kids have them. The same was true for large music collections, and designer jeans.

All of those were phased out over time (and within a fraction of one's lifetime).

So it does appear human psychology can change and do so rather quickly.

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status symbols always change with time, the only difference is the fact they change really fast in our fast paced era

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It’s still too early because our wealth and ability to collaborate are still developing but I’d like to see communities like HIVE come together to buy out greed. Medical patents, purchased by a community, marketed for minimum profit to repay the investors with enough profit to make it worthwhile, then release into public domain.

Technology is another space to explore. When I want a pc I can have a number of merchants build it to spec, but I still get whatever phone apple or whoever puts out.

Maybe we could eventually properly hybridize profit and functionality for the masses.

Abundance will overcome greed. There is no need to be greedy when there is abundance.

We simply are not in tune with that yet since we have not really experienced, even those of us on here. As more of us reach that point, it will keep spreading.

Down the road, a lot of what is patented and trademarked will not apply.

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But in the meantime we can use this as a place to drive that quicker?

We what we are doing today is laying the foundation for the future.

So it all leads into the change that is going to be taking place.

We are in the early part of the game.

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The early part is what throws me. It feels like we've been at it soooo long I forget that we're still such a small population and there's so much more to come.

The patience part waiting to get to 'abundance' is so friggin hard.

I have been seeing a lot more examples of a 'sharing economy' starting to spring up. Or maybe it's always been there and I was blind and didn't see it.

Either way - I think you're right - the next Trillion dollars should happen relatively quick - we fixin' to have some life changing money - sooner than later methinks ;)


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I have been seeing a lot more examples of a 'sharing economy' starting to spring up. Or maybe it's always been there and I was blind and didn't see it.

I can't say if you were blind but it is evident that it is expanding.

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That is an amazing stat that it took 120 days to go from 1 trillion to 2 trillion. Things are picking up very quickly and they say anything takes time to get traction. We are definitely seeing this happening now and 5 trillion could be here sooner than we can imagine.

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Yes it was a rapid pace. What if we start to see the next run from the projects that are starting to get a lot of people using them.

That would be a game changer to say the least.

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This surely should be the next logical step in order for the entire eco system to grow organically. I think what we have seen has already been game changing and as you rightly said last night this hasn't even started yet.

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If everyone can afford a Ferrari, it's time to get Rocketships and Spacehomes :)) obviously There's no upper limit of wealth we could create, it's just inertia that keeps us down.

LOL you might be right. As I stated above, there was a time when a mobile phone was the symbol of status. Maybe Ferrari will go by the wayside and it will be having a rocketship in your backyard.

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Hyperloop Bus Station, Ferrari for Sundays, Rockets for Business Travel & E-Bike for Grandpa.

What about Star Trek like transporting...

Beam me up on Saturdays.

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Are you the same person after being beamed? I'm not sure, maybe I skip on that... I love the old Star Trek, it really was thought provoking.

cheers from germany !BEER


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should be a classic one, Testarossa Retro Reboot 2035 100%

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Super muy buena info sin duda innovando cada dia mas y es q dia a dia crece este sorprendent mundo

Oh, boi, it feels especially great when you can participate in changing the world.

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It is fun to watch things changing right before our eyes.

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Yes, the fact that there are only 100 million people in this ecosphere right now is kind of scary to contemplate. Obviously we're not going to reach 100% any time soon, if ever, but think about just having 10% of the world getting involved in crypto. That's 7 times what we have now. And you can bet a very large percentage of those people are going to have money. The network effect truly does become astronomical. Of course, if the ecosphere expands 5 times wide at the same time that seven times the people enter, it may not have quite the impact on the overall market. But it will still be huge. Especially if defi and compounding continue to happen in this space.

I mean, think about the "money" created in Cub in only the last month. A month ago it was zero. Now there is roughly $6 million "new" money created out of thin air. And that money is growing at a rate of well over 100% a year. And that's just Cub. With over $100B TVL right now expanding at 20%? 30%? 50% a year? Crazy wealth being created. And that doesn't even factor in price appreciation on the tokens themselves. Abundance indeed.

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And how many other tokens will be tied to projects over the next, say two years, that explode?

We see the results with DeFi because that tends to be quicker. Of course, we also can see that if the price of a token remains static, the total market cap will expand because more tokens are created on a daily basis.

It all feeds into the same pool. We are at the point where we can see the impact of what is being generated here.

This is going to affect the 100 million people involved to a great degree.

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I've been thinking about abundance within the confines of the hive blockchain. I'm imagine a time when things are more evenly distributed solely from engagement. I that will push us to "factoring" into the larger ecosystem.

I'm imagine a time when things are more evenly distributed solely from engagement.

It already is flattening out. Look at all the different tokens that were created in the last two years.

People are amassing a nice stake in many different tokens. Also by using something such as @brofi, people are getting a return on those tokens.

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Reaching the next billion will be done faster, a month and a half or two because I have already reached the streak of rapid growth that occurs because of what you explained in your post; abundance brings more abundance.

So let's work with quality and take this as an example to bring abundance into our lives and be able to teach and bring abundance into the lives of others.

It is important that people embrace the abundance. This is a tough concept for people to embrace.

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There are enough opportunities for everyone so instead of messing with each other, why not collaborate and build something bigger in terms of wealth & value. We are so much powerful when we are together.

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