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Bitcoin 2.0: Setting the stage for the future of financial and capitalist innovation

On Ideas in the Making

Capitalism 2.0 video

I remember how I first found out about bitcoins. I don't remember exactly when it was, but I remember reading popular science magazine, I think somewhere in late 2010 early 2011, and they had a massive article on bitcoin. at the time I had very little idea about anything financial or what it all really meant. The article was very basic and didn't talk too much about what it meant to have a distributed decentralized ledger and the like and focused mostly on the whole mining aspect.

Fast forward to 2013, I start working online and start hearing about all sorts of bitcoin services popping up, come April, the giant spike comes, and I am glued to watching bitcoin prices. I read everything out there about bitcoin and decide that this has the potential to truly change the world. I started by taking a small position, shortly after the crash from the massive run-up, and kept doubling down ever 10-15 dollars it kept going down until it bottomed at around 70 dollars.

The reason why was I thought the implications were insane. The ability to just send money is huge. Having heard horror stories about paypal and skrill while making money online (and luckly not being affected by them) and also having had problems with some payments overseas, and paying insane fees for other things I realized how powerful bitcoin could be, Then when I saw the NSA scandal unleash I knew bitcoin would gain acceptance sooner or later: The ability to trully own your money and have it backed by a ledger and cryptography just seemed so insanely amazing to me. The market sets the value, just like gold, and transaction are instaneous, free, no charge backs, and publicly verfiable.

Socially Conscious Companies

On Boredom At Its Worst

Stumbling through Whole Foods, I saw a pair of shoes I really liked. Now I had previously laughed at the idea of people buying shoes at Whole Foods, but for some reason I was really attracted to this pair of shoes from a brand called FreeWaters. I looked it up that night and found out it's so small / new that it doesn't even have a Wikipedia page.

Now the reason Whole Foods sells it (or at least the reason I believe so) is that it has a social mission: to provide clean water throughout the world. For every pair that FreeWaters sells, one individual will be able to drink clean water for a year. Now I was mainly attracted by the style of the shoe, but their mission gave me the final edge to go ahead and buy the shoes.

This "social responsibility" of companies has been popularized by TOMS, the other shoe vendor you will find at Whole Foods (the only grocery store I know that will sell shoes but not Cinnamon Toast Crunch). For every purchase of a TOMS pair of shoes, the company pledges to donate one pair of shoes to someone who needs them.

TOMS shoes have surged in popularity. Almost every single girl I know has a pair, and so do some guys. In my opinion, without the social mission, the company would have not been able to see the success it sees. The marketing the company has done has been phenomenal. It truly is a win-win. The shoes by itself are a tad pricey (for the minimal nature of the shoe), but consumers feel justified when they know their efforts are going to help out someone in need. And plus, the shoes are significantly cheaper than let's say the new Nike Free Run. When debating whether to buy the Nike Free Run or TOMS for a new pair of casual shoes, the TOMS are cheaper and make the consumer feel good about themselves.

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