Quote from: mu_enrico on September 27, 2019, 07:23:50 AM

It is often criticized actually... some said let it "flow" naturally, the recession is good for the economy.

Recession is good for the economy, in the sense that it is the winter season in all properly
functioning economies and their markets. Without winter, there is no pruning mechanism,
which provides the fertile space for the new and renewable growth that drives the entrepreneurial
impulse, producing the surplus seed corn, for planting in the spring, after the winter has done its wonderful work.

Quote from: mu_enrico on September 26, 2019, 03:59:58 AM

The consumption-based economy failed to predict that humans are incredibly greedy, lazy,
risk-averse, etc. Instead of using the increased money supply to do productive activities, they use
it to inflate assets/commodities.

I don't view these as failure of morality issues. These are in fact, in my opinion, simply symptomatic
of a systemic failure on the part of our systems, institutions and the governance thereof. This too, I see
as a multi-generational cycle. A defining characteristic this time around is the rapidity at which the change
is taking place. In other words, what used to take generations to acquire can now be realized intra-generationally.

This, I believe is being driven by a multiplicity of "mega-trends" coalescing into "meta-trends". When I first
began to tease this out, one of the conclusions I thought I had made was that this was happening so quickly
that it had to lead to some kind of culture shock. Don't think I could've been more wrong about that.

The reality of it is that more than 99% of humanity is sleepwalking right
through it, and as history reveals to us, there will be a relative handful of
people that recognize these universal drivers, setting themselves and their
descendants up as the new movers, shapers, rain & king-makers, for generations to come.

Quote from: mu_enrico on September 26, 2019, 03:59:58 AM

How to encourage greedy, lazy, and overly risk-averse people to work? To be more entrepreneurial? (push)
How to attract diligent, bright, and risk-taker people to keep working and producing? (pull)

How "cryptocurrencies" alone solve this problem?
Perhaps, the "better" system has not been envisioned?

Having invested more than 30 years in the turnaround/startup space, some key lessons I've picked up
along the way are, in no particular order, the system over time corrupts the people. This is
the fault of the system not the people. There is no greater fertilizer than an owners footprints,
provide a vesting mechanism and transform them all into owners. It is like cutting the string from
a helium balloon. The solution is almost always where the problem is. Start at the shipping/receiving
dock and ask them, "What can I do to help make your work bigger, better, faster and funner"? and long
before you get to the E Suite, they will have provided you with the turnaround plan. And a bonus is, they
also reveal to you where and who the dead wood is, so the pruning can begin as well. That can be like discovering a vaccine.

To me cryptocurrencies are but a small part, although important as a component, but far from a problem-solver
in and of themselves. The Eco-system and cryptocurrencies that will ultimately succeed have not been visioneered,
engineered and brought to market yet.