Thursday, August 1, 2013

Work (hard for your money)


We Americans LOVE storage.   Storage is really a first world problem.

  Anybody that has taken a physics class in high school or college is familiar with the idea of storage of work.   In physics, storing work is essentially storing energy.    If I move a 1 ton rock to the top of a mountain, I have stored energy in that rock.  I can release the energy I stored in the rock, by pushing it down a hill.
  Another example is any hydroelectric dam.   The water above the dam represents stored work.  At any time the dam operator can open the flood gates and turn that stored work into electricity to be 'spent' else ware.

  As producers in an economy, we can also store our work.  Our mental and/or physical work.

-A basket maker stores her work in baskets, then traded for currency
-A programmer may store his work in code, then traded for currency
-A farmer may store his work in wheat, then traded for currency.

In the current economy, all producers then sell their product, to store their work in currency.   A glass jar of $100 bills represents the perfect storage of your work.

Here is a key point so listen closely.    Producers today chose to store their work in the United States dollar.  There is nothing wrong with this in the short term.   However, since all work is stored in currency, and since essentially all currency is stored digitally, why can't I store my work in the cloud?    Why do I have to store my digital currency in a physical bank?

The internet allowed us to store information in the cloud
Youtube/netflix allows us to store video in the cloud
iTunes allows us to store music in the cloud
Dropbox allows us to store any data in the cloud
Why can't I store my work in the cloud?

Bitcoin allows you to store your work in the cloud.  Its accessible from anywhere in the world.   Its frictionless, infinitly transportable, and generally awesome.

2 comments:

  1. I set up an account but the things I asked me to verify a bank account and wanted me to purchase for $98.. is that right?

    ReplyDelete
  2. You dont have to buy anything... Just create an account

    ReplyDelete