Topic: Evolution of technology to wealth creation. (Read 260 times)

Well, in my opinion, it all depends upon your skills as well as luck along with your interest as well.
If you are lucky enough to meet the circumstances and have chosen the right path of earning per your skills, you may get a lot of success.
But, also it requires constant focus as well.

True, social media is used by some to promote crime but entirely. In my own part of the country many youths have through the social media showcase their talents through comic short-skits video with the likes of tiktok, Facebook, etc and this has made them gather much followers and likes numbering in million on their page which in turn has given and still giving them financial benefit or should I say making money from it. We all know that there is a certain number of followers you will have on Instagram and you will be receiving payment from Instagram due to the numbers.

So this is one way among many other that social media has help to drop concurrent income into the pockets of many which I could personally refer to as wealth creation.


As for the last paragraph you referred to as being grandiloquent, lolz.
What I actually meant was that back in times past means of making assets was not so much available in just with some few clicks away as technology has made it easier today.

Thank you!

Evolution of technology gave the opportunity for most people to create their wealth but it doesn't mean not everyone in this world can become rich by YouTube, Facebook or Tiktok cause it's can be profitable as long as there is traffic ao if everyone becomes the creators then there will be no consumer.

Not just the technology, people are always into the creation of wealth so one who utilizes the system accordingly and more effectively will be successful but in reality not everyone can be rich that is the non written rule on this world.

Robots will be the next trend and it's going to take the jobs of everyone, for sure. There goes the machine learning and AI for which is being developed right now and we're starting to see the essence of it.

Like for example to those queries on social medias, there's already the bots answering those chats. Unlike before, there's a need for an assigned person, real time to answer those queries.

This time, it will just have to take time for someone to backread those conversation and queries and don't need to be present at all times.

Before now in my country it was only politicians, businessmen and their cronies are the super-rich but the social media have given more people access to money. Currently the social media have helped to promote skills and talents that have brought unknown individuals to the limelight suddenly. The social media have broken the barrier of race, sex or social status because everyone is given equal access to showcase their good or services.
 

The crytospace especially bitcoin have become a vital instrument to escape from the control of greedy and manipulative financial institutions and government. It has made financial transaction smooth, private and easy. Some people have also been fortunate to make good amount of money from this sector. But so many fake and fraudulent actors in the crypto industry have been discrediting the sector with their get-rich- quick-scheme offers and sharp fraudulent practices.    


There would be more technological advancement that would make the social media a viable avenue to make money easily. And the cryto industry would keep evolving and more opportunities would keep erupting. But it is important to state that this technological development would not be a win-win situation because it will also comes with its own problems and demerits. Social media crimes like misinformation, stealing of identity and hacking of account would also increase in the nearest future. More shitcoins would be invented that would lead to fraud, invasion of privacy and loss of funds. More crypto exchange firms would still engage in sharp practices and try to cover up their failures through manipulations.      

Technology has found a lot of application, there were little or no opportunities to benefit from technology financially before but currently these opportunities are available. This is progress. I expect that as more progress is made, technology will further evolve and find more applications, making wealth creation easier and more accessible to people, and also creating an opportunity for some talents or behaviors to be relevant.

Alot of people have been striving with the impact through which social media has placed on them because to be honest everyone want to make it in life and many goes through the same route of social media but only few made positive achievements through that means, we don't have to totally depends on social media before we can be successful in whatever thing we do, i only see it as an advertising ground for people to display what they've got to offer.


Away from that, we also now have a digital space where digital currency is gradually taking centre stage penetrating and gaining some dominance into different facet of the human economy, creating wealth and building bridges of esay transaction through it's trust-system in a well secure way.


With this digital world whereby everyone want to use bitcoin as currency and means of possessing their assets as a more secured way and indeed bitcoin has been the only trending digital currency to this day with the blockchain technology but we are yet to have a suspecion on any other new digital form to replaced bitcoin or perform better.
 

Everyone has forgotten the real purpose of social networks. Now money and the possibility of earning money rule everywhere. From here, many people have developed a great distrust of social networks, since everything they promote is a scam or, at best, a desire to make money. What talents are you talking about, OP? People go insane in their pursuit of likes.


The last paragraph made my brain explode. What source of wealth are you talking about, OP? Are you personally rich? So why use so many grandiloquent words, the meaning of which is very far from the truth?

wealth is the abundance /plentiful supply of money
in short more money then you need to live happily

we are in the era of code / A.I
you would be surprised what is possible for code to self sustain itself

there is code that can:
automate signing up to accounts on AWS
run a node on AWS
solomine or pool mine on AWS
make payments to AWS subscription service
to automate transaction payments in the network

startig a new network/coin, which when activated at genesis that then mines and expands mining in an automated way, is possible
creating an abundance of coins more than its needed to self sustain(live) is possible

1.Digital currencies(I guess you mean cryptocurrencies) cannot create wealth out of thin air. They redistribute wealth across the crypto traders/investors. Crypto trading/investing is a zero sum game, which cannot create wealth by itself.
2. The social media influencers don't make money directly from the social media platforms(even thought Tik Tok has such feature). They use the social media platforms to gather a following and build an army of fans. Later on, they monetize that army of fans via different ways, like selling merch or using services like Patreon.
Technology can't create wealth by itself. You can use technology in a clever way to build your wealth, but the technology itself isn't the main wealth creator.

a 5G device with wi-fi hotspot is a very low energy device.. (its a cell phone in modern era)

this can be physically attached to a solar panel
thus guaranteeing wi-fi access for a 30metre radius self charging

one stage further
a LED street light only needs 40watts per hour and only need to run at night = 12 hours =500watt per day(rounded up)

which if having a solar panel with good sunlight for say 5 hours = needing a 100watt solar panel to power a street light with spare wattage to keep a cellphone charged

thus streetlights can become solar farms which also offer internet.. or vice versa depending on who pays what.

take it a stage further
instead of paying the electric or internet company with fiat.
the streetlight includes raspberry pi with a USB asic dongle

mining a utility coin which sales at a rate to pay off the solar panel and 5G

a $15 a month 5G contract for internet is $0.50 a day

500watt a day can convert to under 10cents. = $0.60 cost a day which the usb asic has to achieve

stage further.. lets invent bitcoin.. oh wait.. its here already.. wow thats good.
so if hashrate stays in the 260exa range. but bitcoin market was at ~$35k(not this month, sorry)
the hashing of a usb miner of 0.2thash would get that $0.60 a day
thus covering the price of the 5G and slow pay off of the solar panel

enjoy

Some influencers with millions of followers believe the industry of crypto is just the extension of the dotcom bubble. These social media can make any topics they want to get more followers and advertisers on their network to make money. The evolution of technology allows everyone in the world to be connected and industries also evolve along with the evolution of technology.

Companies don't need radio, tv commercials or billboards anymore to advertise, all they need is an influencer.

From this topic, I got a question after reading some of the replies on which limit we need to reach where we don't need more money for the livings for entire life. As you know if you don't want luxuries then it is possible;le but is it possible with the luxuries as far what we can do with the excess money.

Everyone is aware of this technological advancement, from children to the elderly though.
I am very proud of this technological advancement,
there are many things I can do with modern technology like now, for example I learned to play the guitar, at first I was confused, because there were no guitar lessons at my place, but after I realized and quickly opened my cellphone I continued to open YouTube, it turns out there is many video creators teach how to play guitar.

In this sophisticated era, there is no reason to be lazy to study, because everything is available, it's just us who want to learn or not.

and my hope in the future, with the sophistication of technology as it is now, I hope it can help all aspects of life, in terms of economy, education, and entertainment.

decades ago people need to be employed by a company

whether it is recruited by
Michelin to be restaurant reviewer/critic.
Travel company or a Travel Tv studio to review locations/vacations

or
to be offering advice/guidance, you would need to have gone through college/university to get qualified and have alot of work experience to become "expert" of a thing you want to advise give guidance or tutorials on


but recently due to the openness of social media and decentralised platforms. anyone can now become an influencer. you also have internet access meaning you dont really need to be a international business doing trade deals to get access to wholesale prices of merchandise to sell on the side
you can now just cheaply use alibaba/aliexpress to get cheap merch to then resell, creating your own brand

decades ago code developers needed to be recruited by sega, microsoft, nintendo, or sony to create games as employees, where those games were in the form of "sale once, own forever" where the employee didnt get passive income from their creation but a contracted salary from the head company, which ended when your job was complete.

mow people can release their own independent software/games and have passive incomes via in-game purchases or subscription models

even more recently the "in game purchases" has evolved again where you are not just selling weapons for shoot-em-up games or costumes. but able to sell server space where other businesses can set up in-game shops on your server which sell goods in your game where you then charge those businesses rent for their placement in your in-game streets/arena's

decades ago people with second hand goods in their homes had to do 'garage sales' or 'car boot sales' to sell second hand goods locally. even auction houses needed buyers to be present in the auction room.. but lately the internet allows people to sell goods new/used on sites like ebay, etsy, shopify, etc internationally, reaching more viewers and more customers

again you dont need to be a big business owning warehouses to achieve this you can simply use dropshippers/fulfilment centres to be your distributor, where you simply pass on the delivery address to them

..
when it comes to crypto..
decades ago to "be your own bank" you needed to be an elitist having done all the business/finance qualifications getting a charterd licence and setting up large institution sized business. to then offer financial services.
these days anyone can create an altcoin. or a service that utilises existing coins

you dont need to 'pass the bar' to become a day trader, you dont have to live/work on wall street. you dont even need to wear a suit.

Interesting of you to drive this way. So unexpected and some thoughtful advancement that could be done with technology in the later future. Perhaps Perhaps system of recycled energy within a device to ensure it keeps been powered.

Anyway, the social media is truly helping the masses of our time and it doesn't end in just money but the more people benefit from the various contents that are made available to them from the Internet. Yeah, it does have its demerits but also, it motivates others to try being creative and benefit from that.

Other than waiting on white collar jobs and having people being able to laugh away there demise.

Crypto is not wealth in itself, but a means to achieve wealth. Despite this, unfortunately, it is not supported by all areas of goods and services. Traders and currency traders, who are fortunate to become rich from their activities promote the theory that crypto is the source of their wealth and not other factors. While the truth is that luck cannot be relied upon while launching projects. There are many safe investments that can achieve huge returns compared to crypto. Most of the investors in crypto are from countries where the fields of investment are limited, so they do not hesitate to venture.

Wealth is not money, if you are printing money you are not creating wealth. If you are creating cryptocurrencies you are not creating wealth. Wealth is goods and services. And crypto isn't good at creating them. How many jobs did crypto create? Some thousands of exchange employees, and some developers, writers, promoters here and there. Not enough to matter on a global scale. And most of the world is not using crypto, because people don't feel the need and benefits in doing so. So in terms of global trends and economy, crypto is a very small thing, despite existing for well over a decade.

I don't think you can consider cryptocurrencies as a source of wealth creation because their worth has not yet been proven. Cryptocurrencies may prove their worth in the future by creating actual wealth, but we are not there yet, and it also may never happen.

Many people have become wealthy due to cryptocurrencies, but I consider this wealth to be borrowed and not created.

The internet is a connection of devices and it was predicted in the past by a man  (unknown to me) but, not Nostrademus, that 5000 devices will be interconnected to each other, which birthed the initiative of the internet in this century. Aside from the already known emerging technologies like metaverse, web3 and NFTs. I see an internet that'll keep more people in the house, reduce vehicles on the streets, bring cost down, and make the people of this world begin to have money

All things considered, to stay safe, they should be a way for the internet to power Electricity. Since they is no internet without electricity. I'd say it's an incomplete technology.