Stocks Cost 180% the Average
- January 22, 2016
- Posted by: admin
- Category: Funding trends, Uncategorized
Stumbling toward tomorrow with the true believers…
“DAD, last week I made another $20,000 off that NEO cryptocurrency I bought,” reports Bill Bonner in his Diary of a Rogue Economist.
“And last night, I made another $5,000 on my other cryptocurrency investments.”
Our in-house crypto expert was either boasting or pulling our leg; we weren’t sure which.
“I bought into NEO with just $2000. I’ve already taken out $20,000. The account probably has about $80,000 in it now.”
“The best thing is that I’m now playing with ‘house money’. I’ve gotten back all of my original investment…and much more. And it’s NEO, not neon. It’s the Chinese version of another one of the big cryptocurrencies, Ethereum.”
Day by day, we stumble toward tomorrow. And as usual, the future casts its shadow backward…onto the wayfarers.
Our children, with more spring in their steps, move along quickly. They buy cryptocurrencies in anticipation.
There are now more than 800 different cryptocurrencies competing for our business. That’s five times as many as the number of conventional currencies.
“It’s really a free-for-all,” continued our in-house expert. “New coins are starting up every day. Most are scams or jokes. Some are both. But something is happening here that we can’t afford to ignore.
“Our whole business is based on trying to understand the world of money. This is the biggest thing to happen in the financial world since the discovery of gold. If we don’t understand this, we don’t understand anything.”
With this alarming thought, we sat down to breakfast this morning. After two cups of coffee and further discussion, the disquiet increased.
Not only do we not understand cryptocurrencies, we judge the odds of ever understanding them at slim.
But maybe we don’t have to.
“You’re never going to understand the geeky technology behind cryptocurrencies – the ‘blockchain’ or ‘proof-of-work algorithms’ or ‘hash rates’ or ‘Byzantine fault tolerance,'” continued our son.
“Don’t worry about it. We use things every day and most people don’t know how they work. In that famous example – from libertarian writer Leonard Read – none of us could easily make a pencil. But we all feel comfortable using one.
“Most people don’t know how electric motors or automobiles work…and ask anyone how the microwave oven heats things up; they won’t know. We don’t even know how gold works.
“You don’t have to know how these things work…You just have to know what they do and how to use them.”
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
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The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
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The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
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This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.