In the 1960s, the mischievous Buddhist philosopher Alan Watts put forth that money is simply a measurement of wealth in the same way that words indicate true phenomena, but are themselves empty. For some backwards reason, Watts went on to argue, some people are more concerned with having money than having wealth. Sadly, he points out, you can’t drive seven luxury cars at the same time.
If western society has become overly obsessed with money, it may be a result of the consumerist economy that has created a culture obsessed with owning many, many things, stockpiling cash and constantly buying shiny new things. While there’s nothing wrong with desiring a high quality of life – a comfortable home, a good diet, the odd vacation – many people spend so much time stressing over work and pursuing money that they become incapable of enjoying their wealth.
In the 21st century, there is a growing concern that our longstanding paradigm of capitalist democracy will ruin the world if it is not amended. A more ecological culture would place an emphasis on owning only what you need for baseline contentment, rather than striving to own four houses and a private jet. Money for its own sake, and the perpetual mess created by aggressive corporations and financial institutions need to be tempered, not necessarily by revolution, but by younger generations who are more directly concerned with the next hundred years of human life on earth.
An interesting development that has become a sensation in the last decade is the advent of cryptocurrency. Still a flash in the pan in the scheme of history, a decentralized form of currency that is peer governed, rather than government controlled, could spell the future of money and fundamentally shift the way we think about wealth.
While cryptocurrency is still in its infancy, a growing number of people are signing up for crypto exchange platforms like Bitbuy in order to store and spend various digital coins like Litecoin, Bitcoin and Ethereum – if you’re curious about what distinguishes these coins, you can visit Bitbuy to learn more. Currently, crypto is still mostly a cult sensation, bringing together true believers, cyber-punks and capitalist adopters trying to make a buck, at conferences and conventions aimed to answer the question: what is crypto’s future?
- Bitcoin – Bitcoin fanatics – who are typically extremely loyal and endearingly stubborn – tend to espouse the view that all other digital coins are imposters and that Bitcoin is the one true crypto that will survive and flourish in the coming century. Only time can tell!
- Ethereum – Developed by Russian-Canadian computer whiz Vitalik Buterin (age 24), Ethereum’s followers are more open-minded and concerned with what the technology that drives crypto (the blockchain) can do if applied to a broader range of tasks. While detractors argue that Ethereum is a centralized network with Buterin at its center, Buterin has made it clear that he hopes to delegate executive responsibility and eventually remove himself from a position of power/ authority.
- Bitcoin Cash – A hard fork that diverged from the original Bitcoin ledger, Bitcoin Cash is able to process more transactions with lower fees, for those who want to use crypto as a currency, rather than treating it as an investment.
This novel approach to money suits the digital age and will hopefully help our society move away from corrupt financial corporations and take responsibility for the future!
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