Crypto Corner: How Innovation Works

Fire → Electricity → Internet → Cryptocosm August 10, 2021 [UNSUBSCRIBE]( | [WEBSITE](Put_Website_Link_Here) [Altucher Confidential] [Warning] Do you enjoy receiving Altucher Confidential? Please [Click Here Now]( so we know to continue sending you Altucher Confidential for free! “Crypto is currently between two worlds, making it even more mercurial. Its initial castle in the air has crumbled. And its true potential is beginning to dawn.” [Lightbulb] [Editor’s Note: We’re going to do something a little different today. I’d like to start featuring content from a writer that I admire. His name is Chris Campbell. If you don’t know Chris, he’s one of the most interesting people you’ll ever meet. He’s visited over 30 countries on the hunt for ways to live a freer, healthier, more abundant, and satisfying life. He’s been on the bleeding edge of bitcoin, medical tourism, decentralization, Big Brother, and much more. He lived as a digital nomad with no possessions (sound familiar??)… He’s even tried his hand as a farmer in the Midwest. I hope you enjoy his ideas as much as I do!] Crypto Corner: How Innovation Works By Chris Campbell [Incoming message from James Altucher]( Hey, I just recorded [this short briefing]( for you. It’s pretty urgent. [Click here now]( or on the play button to view it… [(The contents of this video may shock you)]( [Video]( 790,000 years ago, our ancestors mastered fire. Though the cultivation of fire might seem a little trite today, it was the biggest technological advance ever -- and, as you’ll see, what’s happening now in the digital age is an extension of this first innovation. It only differs in levels of sophistication. Consider, this was the first time humanity learned to control the migration of electrons to survive and thrive. Understandably, many of our ancestors were likely frightened by the idea of integrating fire into their lives. Meanwhile, others were undoubtedly championing its cause. All of them probably overestimated what honing fire could do for them in the short term -- both the promises and risks. And, without a doubt, everyone underestimated the impact this breakthrough would have on the world in the long run. Amara’s Law Matt Ridley, author of How Innovation Works, calls this Amara’s Law, named after American futurist Roy Amara -- the first to observe that we almost always overvalue an innovation’s impact in the short term and underestimate it in the long term. In fact, at the beginning of any major technological innovation, says Ridley, there’s little difference between it and a fad. Take, for example, humanity’s second major advancement in managing the migration of electrons -- electricity. Although electricity’s foundational components -- light bulbs, dynamos, turbines, and motors -- were all ready to go in 1885, it took decades for electricity to live up to its initial hype and potential. Only when most people had written off its amazing wonders did it begin transforming the world. And then, later, it exceeded even some of the most starry-eyed expectations -- most notably with the rise of the Internet. --------------------------------------------------------------- [Recommended Article] [Web: Models vs. Science [Part 2] | Gilder's Daily Prophecy]( --------------------------------------------------------------- The Internet is yet another extension of this trend. The Internet gave us all the power to micro-manage the migration of electrons to carry information beyond time and space. And crypto is the next leg up. It’s the ability to, using advanced cryptography and physics, control the migration of electrons in such a way that we create a parallel digital world that mirrors the physical one -- an idea some are calling the “Metaverse.” Fire → electricity → Internet → Cryptocosm [Note: You’ll likely be hearing this word “metaverse” a lot in the coming weeks and months. More on what it is, and where it could lead, soon.] But, here’s the thing. As Ridley warns, when it comes to major innovations, predictions are unreliable: “Forecasting technological change is almost impossibly hard and nobody — yes, nobody — is an expert at it. The only sensible course is to be wary of the initial hype but wary too of the later skepticism.” So, at best, technology forecaster Paul Saffo’s mental framework comes in handy here: [“Strong opinions, weakly held.”]( Crypto is currently between two worlds, making it even more mercurial. Its initial castle in the air has crumbled. And its true potential is beginning to dawn. This, says Ridley, is innovation’s most fragile and precarious stage. These weird devices are about to appear all over America [Chip]( to America’s top tech futurist – dubbed the “Tech Prophet” by Forbes – millions of these strange little devices are about to appear in every corner of our country… including your home. What are they? And why did one tech insider with connections to Apple and Microsoft claim they’ll “rewrite the rules of what’s possible?” [Find out more right here.]( The Most Powerful Trend The initial kneejerk reaction to major innovation, says Ridley, is resistance. This resistance is amplified by those who stand to lose the most if the innovation succeeds. “Unless it is of obvious use to ourselves,” Ridley writes, “we tend to imagine the bad consequences that might occur far more than the good ones. And we throw obstacles in the way of innovators, on behalf of those with a vested interest in the status quo: investors, managers, and employees alike. History shows that innovation is a delicate flower, easily crushed underfoot, but quick to regrow if conditions allow.” Upon writing, politicians are debating the “infrastructure bill” which, within its pages, holds wide implications regarding the Cryptocosm’s future in the United States. Legislators, in short, want crypto to be regulated precisely like the legacy financial systems. Predictable perhaps… but it’s nonetheless yet another example of politicos trying to jam a square peg into a round hole. --------------------------------------------------------------- [Recommended Article] [Why Hire These Guys Anyway? | Money & Crisis]( --------------------------------------------------------------- It’s worth noting; despite the current uncertainty, bitcoin’s price has been appreciating rapidly. Without a doubt, bitcoin has moved from the fringes of finance to the big leagues. And the Cryptocosm is bigger than bitcoin. It’s not just money. It’s not just digital commodities. It’s not just decentralized finance. It’s an emerging open parallel system. And the whole is much greater -- and far more powerful -- than its individual parts. Some nations will be on its team, embracing it with open arms. Others will fight it tooth and claw. I side with colleague Jeffrey Tucker, who just this morning wrote: “It’s the future: you can slow it down, but you can’t stop it.” Yes, the Cryptocosm’s hype might underestimate the power of legacy systems. But perhaps the skeptics underestimate its staying power. If so, this is just the beginning. And not even the low-hanging fruit has been fully picked. More to come on that front. But, remember: Strong opinions. Weakly held. [Action to take: Sometimes, as the ancient philosophy of Wu Wei asserts, inaction is the best action. Consider that our in-house tech prophet has just released his biggest crypto prediction yet. And he’s recommending one thing to his thousands of fans: [“Don’t buy a single crypto -- not one -- until you’ve seen this.”]( Until tomorrow, [Chris Campbell] Chris Campbell For Altucher Confidential Will Apple, LG, Samsung… Recall their 5G phones? [Cell phone]( people with 5G phones are facing the harsh truth - their phones aren’t receiving 5G signals consistently… and keep slipping back to 4G. Even some of the latest and greatest smart phones are not immune to this 5G flaw. The good news is there is a breakthrough new technology that will work with 5G phones, 4G phones, and even outdated 3G phones. And it has advantages that 5G can never have. [To know more about what could arguably be the future of smart phones and internet, Click Here.]( Subsribe To My Podcast [The James Altucher Show]( [The James Altucher Website]( [Subscribe Via Text]( [Subscribe With YouTube]( [Subscribe On Messenger]( [Subscribe With iTunes]( [Connected on LinkedIn]( Add AltucherConfidential@email.threefounderspublishing.com to your address book: [Whitelist Us]( Join the conversation! 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