What Skills Do We Lose With Bitcoin? \ stacker news ~bitcoin

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2285 sats \ 47 comments \ @OT 18 Jun bitcoin

With new technology comes convenience. And for this discussion I’d like to mainly focus on the negative consequences that come with a transformative technology.

Going back many thousands of years we might find that the invention of footwear had a consequence of making the soles of our feet soft. And in todays digital world there seems to be a general dumbing down in many fields like math, communication and writing.

Another example is navigation. 20 years ago I had a general idea of the roads in my area. If I were driving into unfamiliar territory, I’d look at the map and try to remember which roads to take and where I should turn off. These days with everyone using a GPS on their phone, this kind of knowledge is no longer necessary and I bet most people would get lost without it!

Even though the gains of these technologies far outweigh their negative effects, what are some of the skills we lose with understanding and using bitcoin? Is it that the increased purchasing power destroys our motivation for productive work? Or does it make us less trusting or social as we become our own banks and hold our own keys?

I’m interested to hear your thoughts. I struggle to find an answer TBH.

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175 sats \ 3 replies \ @kepford 19 Jun

What skill did fiat kill? Saving? So maybe Bitcoin kills the skill of unreasonable consumption by punishing it. It hurts when you realize patience pays more that instant gratification.

56 sats \ 1 reply \ @Undisciplined 19 Jun

That's an interesting line of thinking. I'm not sure you quite landed on the target, though. There might be something there if you poke at it a little more.

53 sats \ 0 replies \ @kepford 19 Jun

Yeah maybe.

0 sats \ 0 replies \ @OT OP 19 Jun

It does feel like most people that understand bitcoin somewhat begin to practice saving

143 sats \ 2 replies \ @kepford 19 Jun

I need to think more about this. I do see @Undisciplined point but I don't think most people actual have investment skills. Its the traders and fund managers that have actual skill. We have all outsourced to this select few out of necessity. I believe speculative investment would decrease but I don't if this qualifies as a skill most people have.

55 sats \ 1 reply \ @Undisciplined 19 Jun

I'm not saying people are generally skilled investors, but their knowledge of different investment concepts is a skill.

I think most people would not even be familiar with stocks and bonds, much less options and derivatives, if they could just save their money.

21 sats \ 0 replies \ @kepford 19 Jun

Yep, you are right.

143 sats \ 2 replies \ @grayruby 18 Jun

Financial services will be a much smaller industry under a Bitcoin standard. Most people won’t need any financial advice other than save money.

50 sats \ 1 reply \ @OT OP 19 Jun

That might be a positive thing then right? Imagine all the savings from defunding the economic sector of government

33 sats \ 0 replies \ @grayruby 19 Jun

Absolutely! Beyond that just think about the talented human capital that has been wasted (scientists, mathematicians, technologists) to play financialization games and creating ever more esoteric financial products.

187 sats \ 6 replies \ @Undisciplined 18 Jun

My guess would be that most people will go back to being completely unfamiliar with different investment vehicles. I think that only happened because inflation made saving money a losing strategy, but without inflation people will mostly just save money.

42 sats \ 5 replies \ @OT OP 18 Jun

So you think they will lose the skills to pick a winning stock because they will no longer need to?

That seems like it could be quite far down the track. All the kids are trading these days.

122 sats \ 2 replies \ @premitive1 18 Jun

the skills to pick a winning stock

is that what people have?

21 sats \ 0 replies \ @OT OP 19 Jun

lol

Good point!

34 sats \ 0 replies \ @Undisciplined 19 Jun

That's not how I would put it, but there are a lot of people who know about all kinds of technical finance stuff that I think would be largely be confined to professionals on a Bitcoin standard.

101 sats \ 1 reply \ @Undisciplined 18 Jun

All the kids are trading these days

I’m sure that’s mostly because technology made it easier, but it might not be a complete coincidence that this is happening while we’re experiencing historic inflation.

143 sats \ 0 replies \ @kepford 19 Jun

Yep, tech made it much easier and from what I have seen people are not good at picking winners. Like most things a few are good and they get the attention. The rest are likely as bad as I am. At least that's how it is in my circle.

132 sats \ 3 replies \ @Wumbo 19 Jun

The Skill we might lose is: Having Patients with others

I think micropayments via lightning will make every daily interaction cost something and people will come to expect it for even the smallest thing. While currently people do things for "free" (they spend their time)

Examples:

Asking your neighbor to check your mailbox while you are out of town: 1000 Sats
The person you sit next to on the plane, 200 Sats for them to listen to your vacation story.
Working the bake sale at your child's school: 400 Sats per hour

I could imagine a future where it is "rude" if someone wasted your time without streaming you some Sats.

31 sats \ 1 reply \ @teemupleb 20 Jun

I don’t think financializing all social interactions is good for humanity.

Social dynamics works better with just vibing with our energies and social trust, as we’ve done for millennia.

Tip as you wish, but I’d rather leave it for business interactions.

0 sats \ 0 replies \ @Wumbo 20 Jun

I agree but I can see it becoming an unintended consequence that society adpots.

0 sats \ 0 replies \ @OT OP 19 Jun

Interesting

I’ve never thought about this. Reminds me of American tipping culture

106 sats \ 0 replies \ @karanjajes 19 Jun

We will definitely loose accounting skills and banking skills.Everything comes with it's own changes. Think of something like barter trade, then money came and wiped it out.

122 sats \ 1 reply \ @freetx 19 Jun

I think we will lose consumerism in general.

The "benefit" that fiat brought was cheap + easy money financed hyper-consumerist products: Stores full of throw away products. Why bother fixing that old blender? Throw it away and buy another at Walmart....its only $25....

Bitcoin will change that rather significantly. Since money will no longer be cheap + easy, things will become more expensive (but higher quality), thus you will be more apt to repair that blender rather than just throw it out.

10 sats \ 0 replies \ @OT OP 19 Jun

Good point, though that sounds like a positive thing right? Bitcoin fixes consumerism

101 sats \ 1 reply \ @BitcoinAbhi 19 Jun

I think people have lost their ability to focus on one thing.

0 sats \ 0 replies \ @OT OP 19 Jun

That’s true

101 sats \ 1 reply \ @IamSINGLE 19 Jun

Well, We'll lose the skill of counting paper..

0 sats \ 0 replies \ @OT OP 19 Jun

lol

101 sats \ 0 replies \ @Coinsreporter 19 Jun

With the emergence of a new technology, we will surely lose some or the other of our cognitive skills.

101 sats \ 2 replies \ @DiedOnTitan 19 Jun

Interesting Q. In my case, Bitcoin has done nothing but add skills and knowledge.

Learned how to run a full verification node and validate not only my transactions, but every single on-chain Bitcoin transaction since the genesis block.
Read about and leveled up my understanding of economics and the history of money with a level of interest I never had before.
Changed my behavior as a result of switching to a low time preference. This has had profound positive effects on my lifestyle choices in general and spending choices specifically.
It has renewed my hope for a new gilded age that I think will emerge when we transition to a Bitcoin standard. A digital renaissance favoring those with UTXOs enormously, but solving many of the problems that a fiat standard have created for everyone including: profligate consumerism, funding wars which both lead to ecological devastation. It won't eliminate poverty and solve all of the world's problems, but it will have a very positive impact provided that we don't screw up the protocol.

Now if you asked what are we losing as a result of Generative A.I, that is a whole different answer.

34 sats \ 1 reply \ @OT OP 19 Jun

Same here.

AI will definitely make us dumber

0 sats \ 0 replies \ @cryptoxoide 22 Jun

Not precisely. CryptoXoide will eventually write about NI (natural intelligence), there is this theory in forums that the human mind suddenly evolves to be more intelligent than the machines because there is just a finite amount of resources, energy and time that can be poured in the mindless development of machines that surpass or control humans (imho, a very detrimental and obtuse pursuit of the human consciousness, and also a waste of intelligence), thus leading to human minds that can surpass the capabilities of humanmade technology. But this can wait until 2025 for publication, although probably many humans are now realizing this I say because NI seems to be faster already than internet itself and the so called AI.

101 sats \ 0 replies \ @SatsMate 19 Jun

I think it does ultimately prepare us for a future where transactions are all fully digital, which is bad for full privacy. As we know Bitcoin is pseudonymous, and not fully private (even with privacy mechanisms on higher layers).

Also, I think we stop learning how to buy on credit and write checks - but I look at these two things as a net positive :)

101 sats \ 1 reply \ @Satosora 18 Jun

Technology has really ruined critical thinkers. How many people use calculators now instead of just doing the math on paper or in your head?

0 sats \ 0 replies \ @OT OP 19 Jun

Yes!

I heard stories of how people used to work at the bank. They could add up 3 columns of balances at the same time.

All gone…

101 sats \ 0 replies \ @jgbtc 19 Jun freebie

The only skills I can think of that will be lost are negative, like how to benefit most from the cantillon effect, how to gain power and influence by drastically increasing the size and scope of government, and how to best jockey for position in a crony capitalist system. Good riddance.

101 sats \ 1 reply \ @cristaiji 19 Jun

There is likely a risk of losing humility as bitcoin becomes more and more of a success and bitcoiners start to feel superior for being right, becoming wealthy etc.

Over inflation of the ego will be a challenge for many of us.

0 sats \ 0 replies \ @OT OP 19 Jun

Good point

It might be hard to stay humble

101 sats \ 3 replies \ @sagars209 19 Jun

I do feel sometimes less motivated in my fiat job and honestly i feel i'm quite quitting. But i don't think thats really bad, perhaps the madness over productivity is a fiat mindset, the reason why rent seekers need to extract best out of peasants is for them to reap the maximum benefits. After all a soul wants just to be happy and you can get happiness from little things.

Also verify, don't trust makes you verify everything at times, even your relationships, faith, customs, culture, everything. i think it is important to be conscious when you need to trust and when you need to verify, humans are social and emotional animals, so for most of the matters in life trust works but in some verify is indeed lifesaver!!

0 sats \ 2 replies \ @OT OP 19 Jun

Yeah, I’m wondering if bitcoin continues to grow in purchasing power and gets huge adoption like iPhones or Facebook, who will do the “terrible” but necessary work?

The argument is of course if a job needs to be done the salary will rise to meet the people willing to do it.

0 sats \ 1 reply \ @sagars209 20 Jun

Well not everyone will have enough stack and hence they will have all the motivation to do the work that is needed. Which is same as Fiat world but the bad part of Fiat world is that it makes one greedy because Fiat is always losing value and one never can have enough of it and has to keep running the rat race

0 sats \ 0 replies \ @cryptoxoide 22 Jun

Good point!

21 sats \ 0 replies \ @16d86e9daa 18 Jun freebie

for most miners, the ability to focus on having other source of income

0 sats \ 0 replies \ @standard_sats 20 Jun

Idk some skills better forget anyway.

0 sats \ 0 replies \ @TheBTCManual 19 Jun

Lol, applicable to me right now; this gad damn tax system for small businesses it's so painful and laborious; it costs you admin time, resources, and mental capacity. It's really a burden that, if lifted, I feel would unlock so much productivity.

If all you need to worry about is profit and loss, and working with the full margins, you can run more efficiently, hire more people, experiment on R&D to improve your product or service, and negotiate better rates from suppliers because you have more capital on hand.

Oh and eliminates wasted spend where business owners try to buy things they can as a tax right off, when they don't really need it

0 sats \ 0 replies \ @NaOD 19 Jun outlawed

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0 sats \ 0 replies \ @NaOD 19 Jun outlawed

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