The Best “Virtual Currency” (Not Bitcoin)
Posted April 05, 2021
We’re moving into a very different world. And it’s time to get ready.
(Don’t worry. I believe it’s brighter and more interesting than you might suspect.)
This bold new world has to do with the greatest “virtual currency” of our age.
No, I’m not talking about bitcoin. In fact, as you’ll see, it’s not a cryptocurrency at all.
Indeed, we talk a lot about how crypto is eating the world. But crypto is just one small facet of this much larger trend.
The bigger trend has to do with how technology is automating and disintermediating many “left brain” tasks. And how this marks the end of an era.
Consequently, it also has to do with why “right brainers” are set to kick off a new Renaissance…
And perhaps even come to rule the world.
Here’s my proposal…
A plague (Black Death) and a powerful disintermediating technology (printing press) kicked off the eventual rise of the “left-brainers” in the Enlightenment in the 1700s.
This movement was centered around the idea that reason is the primary source of authority and legitimacy. We have ridden its coattails since.
Today, the same shake-up is happening again, but flipped.
[Note: Perhaps, as many will undoubtedly argue, the terms “right brain” and “left brain” are oversimplifications. But in an effort to give you the big picture, we won’t let perfection get in the way of good enough.]
Rise of the Right-ish Brain
We’ll delve more into the history of this shift (from Renaissance to Enlightenment to now) in tomorrow’s episode.
For now, simply consider that the past few decades have largely belonged to a very specific type of thinker.
Computer programmers who can crank out expensive code.
Lawyers who craft expensive contracts.
MBAs who crunch expensive numbers.
This is coming to an end. Left brain tasks will become highly-specialized or automated.
The rise of crypto is the tail of this dragon.
Crypto, after all, is based entirely on mathematics. Mathematics is pure reason in symbolic form.
Cryptocurrencies will disintermediate financial systems…
Smart contracts will disintermediate the highly lucrative role lawyers play in drafting and exchanging paper contracts.
A.I. is rapidly automating number crunching in all of its forms.
Basic software can crank out routine code faster than any programmer.
With these tasks being automated, the future will require, prize, and reward a different mind.
That’s not to say reason and rationality will fall by the wayside. Despite the best efforts of radical “post-rationalists,” it won’t.
Any true leap forward requires both integration and transcendence of what came before it. If anything, this will be a revival of the ideas brought to the fore in the past 600 years. But they will be presented and acted upon in a different way.
This could also mean the future belongs to… Creators… problem-solvers… pattern-recognizers… designers… storytellers… inventors... big-picture thinkers.
The Most Valuable Virtual Currency (Not Bitcoin)
The computer’s greatest strength is also its greatest limitation -- self-reference.
Self-reference, which is a “left-brain” activity, is only one form of intelligence displayed by humans.
A.I. will not replace human ingenuity and creativity.
Smart contracts can only do what they’re told.
Bitcoin can’t come up with new ideas. NFTs aren’t going to write the next great story.
Though many futurists might disagree, computers aren’t going to surpass the totality of human intelligence. With this in mind, the best “virtual currency” isn’t bitcoin.
Creative ideas are today’s most valuable virtual currencies.
Which brings us to one way you can catch this wave.
The 30-Day Challenge
If so, you might be wondering…
How do I catch this trend early?
We’ll talk about many ways in future episodes.
Today, I would suggest that my colleague James Altucher has been at the forefront of this right brain revolution.
His tips on becoming an “idea machine” -- such as writing down 10 ideas a day -- are worth their weight in gold in this burgeoning landscape.
But recently, we’ve taken his ideas a quantum leap forward…
He’s put together a virtually foolproof way of monetizing your ideas in as little as 30 days. (In some cases, even a weekend.)
Just recently, in fact, he created a brand new 30-day challenge for you to flex your creativity muscle…
Turn yourself into an idea machine...
Dig your heels into your passion…
And make money from doing and sharing what you love.
This latest project, in collaboration with James, is not only designed to show you how. But also how to turn it into an income stream… FAST.
Stay tuned for more tomorrow.
Managing editor, Laissez Faire Today