Hello my fellow bloggers! Today we are going to talk about history and changes it brings. As always, crypto will be in the center of the story. Let’s dive in and discuss.
Have you ever thought about artificial light you use every day? For nearly all of human history, fire was our only source of artificial light. Now we enjoy technical progress and use electricity. Have you ever wondered how much does it cost? If you are living in a developed country, most probably the answer is no. The thing is that we are just a second generation that doesn’t care about artificial light cost. How much artificial light you can earn with an hour of work at the average wage?
The amount has increased from twenty-four lumen-hours in 1750 BC (sesame oil lamp) to 186 in 1800 (tallow candle) to 4,400 in 1880 (kerosene lamp) to 531,000 in 1950 (incandescent light bulb) to 8.4 million lumen-hours today (compact fluorescent bulb).
Source – cost comparison made for UK.
I find this change truly amazing. The cost of artificial light for our grandparents was 15 times higher than we pay nowadays. Artificial light is not the only thing that changed. Money have changed drastically as well. A couple hundred years ago, money were bounded to gold. It was hard to find a person who knew the word “inflation”.
A bottle of Coca-Cola cost only 5 cents from 1886 to 1959. Can you imagine 73 years without any devaluation of currency? This is hard to imagine, especially, if you live in a developing country. 25 years ago, inflation was killing my country. It could go more than 50% just in a month. Saving money was almost impossible. Changing your life and getting out of poverty was harder than ever. I believe many people on this platform can relate.
Financial services changed even more than money. Banking services started in the middle ages when Knights Templar offered “road checks” for pilgrims to protect them from robbers. In past hundreds of years banks changed from useful organizations to a blood and vein system of world economy, accumulating wealth for their owners. Now it is time for all this to evolve. I truly believe that we will live through this change. We haven’t seen how artificial light changed the world, we haven’t seen how money system detached from gold made a change. We are lucky enough to see crypto making this world a better place for ordinary people. One day our grandchildren will come back from school with questions about this funny paper money they have learned about on a history lesson. We will tell them a story how crypto has changed our life. We will tell them how we had to open a bank account to transfer our money or buy things on internet. We will lough together how stupid this sounds.
Yes, sometimes it is hard to imagine our life can change this greatly. The history teaches us it happened so many times before and will happen again. It is time to catch the train to the future and reserve your seat.
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I’m not a financial of any kind. I encourage you to check all information yourself and make decision only based on your own opinion. All articles are created for solely entertainment purpose.
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