Bitcoin Forum

It has always been known that bankers n economist are the ones who create wealth in an economy.  

But with the advancements in technology we are seeing a new way of wealth creation.

Considering the different ICOs launched daily,  one does see that they are creating wealth everyday. The world is shifting from a global village to a global house.

Looking at coinmarketcap,  the billions of dollars seen there is a creation of technology.  While economist n bankers remain ever relevant,  technology is creating the path for a more prosperous tomorrow.

Blockchain is currently leading the way.

What are your thoughts?

You are confusing creation of money with creation of assets / wealth. ICOs sell digital assets to investors. The developers are selling some of their assets to investors. When the price of these assets increases, wealth is created.
There are hundreds of IPOs which take place every year. Nobody makes the assertion that the equity markets represent a new form of money creation.

Thanks. Yeah that was what i meant.

Blockchain has allowed the economy to be more global and have access to novices who begin to manage their finances, every time there are many people interested in learning about trading and learning to analyze the market and this has occurred as a result of high volatility of cryptocurrencies. But not only the economy has expanded but the ability of technology to apply it in different areas which makes it more attractive.

Indeed that this technology called blockchain created a way for regular people to get involve and be a part of money making machine (on a legit way). I love this technology as it does not required certain degree or background to be part  with.  Everyone is welcome and everyone is equal. A great venue to learn and earn at the same time. :)

Pretty close, but not quite.

Wealth is not created when the price of a security (stock, ICO token, whatever) increases. Wealth is created when these companies use the money provided to them by investors to create actual products, may they be physical or a service. Until that happens it's just debt that gets shifted between speculators.



Advancements in technology have been the new way of wealth creation since the industrial revolution.

I would not say that wealth in itself is created but many wealthy individuals are created. Great developers are among some of the richest, most powerful and most sought after in the current economy. Bankers and economists will always be there because they are the ones who keep things ticking over and facilitate the transfer of wealth from one individual to another while taking there share off the top. Bitcoin and crypto as a whole might reduce that but there will always be an excess to go around for these fat cats.

I'll contend bankers and economists do not create wealth. Economists like Paul Krugman are especially guilty of this with their "we must kick the debt can down the road" mentality. Past economists even moreso with trickle down economics and the similar frameworks & methodologies they have devised.

It might be more accurate to say what bankers and economists do create is extremely large piles of debt.  :)

Bankers typically do not create value either. They hoard piles of money and do not do much with it. The same can be said of many billionaires. They have mountains of cash which sit in vaults collecting dust. Capital which could be invested, devoted towards scientific, medical, or assorted research isn't put to good use. At least that's my criticism. Maybe me being poor I lack an accurate perspective on this.

I believe the world is gradually shifting to the advantage of the technologist. There are billions of dollars circulating on the internet everyday due to technology. The blockchain technology is evidence of this great dynamism. Bankers and Economist would always remain a relevant aspect of wealth creation but Technology is the master minder of wealth creation now

no doubt the technologists are the one making people rich all over. The internet is so filled with money creating opportunities that without the knowledge of techies, it would be impossible to create these technologies. Look at bitcoin that has made alot of people millionaires. It was a creation of technologies and not some economist, politician etc

"Individual ambition serves the common good"
~Adam Smith
Bankers and economists are not the one who create wealth in economy. The ambition of them to success and earn are the reason why there are distribution of wealth in economy not knowingly that they are filling up the necessities of individual.

Comparing a real money to digital money is out from your mind. Of course, digital is different from Fiat and in an ever evolving technology digital makes a big impact to the investment. Only if technology is present in every ICO that's emerging every now and then that it would be successful.

They're not the one who creates wealth, they are just good in manipulating our money in their hands and make it favorable for them.

That's why bankers really hate cryptocurrency — they hate its decentralization. With the help of blockchain technology, we no longer need banks because you can already invest here, store  your earnings and make profits from it in due time. For this reason, bankers are losing clients which implicates losing money at the same time because they don't now have a control on our money.

Thanks to crypto, we are now free from bankers with greedy intentions.

I don't know for you but i don't think its every economist that creates wealth most economist are only good at analyzing proverty and wealth without doing much for the country. And as for the bankers, they don't create wealth either, they only help to hold and calculate people's money. Now bitcoin case is entirely different, since it arrival may people have move from proverty to wealth.

First time I hear that bankers have created wealth! Bankers lend money for interest and the debtor has not only to give the credit back, but additionally the interest. That generates a high competition between the people and not a general wealth.

Economists have created wealth? How did they do that? An economist acts based on numbers and rentability for the owner of the company and not in the interest of the people. How can someone create wealth for the people while he does not act for them?