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"In the long term this will lead to novel types of assets, and make ownership extremely liquid. Imagine using your phone to buy shares in a recording artist you just discovered, and selling those shares when they win a grammy."

I'm sorry but I really totally fail to see what is appealing about this future hellscape where literally every aspect of our lives is transacted, monetised and profitable. What is good about this? Why is this something to aim for?

discuss

TeMPOraL|5 years ago

Star Trek was a prophetic vision of the future. Except we aren't meant to be running a federation of planets. We are the Ferengi.

carleverett|5 years ago

I highly recommend "A Blank Slate of State" by Chris Burniske: https://unchainedpodcast.com/chris-burniske-a-blank-slate-of...

He makes the same argument that I think you're making, that these new types of "more accessible" financial markets in crypto can corrupt people if they only use it to seek out money for money's sake.

TLDR: it's a tool, that can be used for good or for bad, but like any tool it's better to have it than not.

markkat|5 years ago

I see the opposite happening, as rent-seeking models like that of the recording industry are replaced.

Also, this regards the music an artist makes and sells, not every aspect of their life.

phatfish|5 years ago

I don't see how Ethereum or any "digital currency" solve the real world problems that will still exist. Sure, the big players in the recording industry can treat artists badly. But a service is provided, which is doing all business and marking side of things that most artists don't want to bother about.

The idea of recording companies will still exist. Maybe somehow the big incumbents get caught out by the change to a "digital economy", but all that will happen is new ones will appear, and will end up doing exactly the same as the old ones.

Digital distribution was supposed to free artists from record companies. Now it is consolidated to a few large companies like Spotify and Apple because musicians don't want to run and market their own digital store front.