In Introspection: Digital & Physical Assets
Hello, every one it's @Joetunex and @Josediccus here again, in this video we talked about physical and digital assets and how their ownership seems to have been redefined. We took time to compare these assets and we went on to talk about the advantages and disadvantages of owning these assets.
This lead us to the focal point of the discussion, which was that digital assets are a betterment of physical assets and not a replacement.
We talked about the fact that digitization is majorly to fix the flaws of some of the systems we currently have. This made us believe that there are no questions of choice as to which is better but how to maximize the ownership of the two assets to build an incorrigible investment across real-time and online.
We talked about building wealth and how understanding the properties of these assets can actually one to maximize their potential for present and futuristic gains as well. We believe that innovations are to enrich people and not to leave people in a dilemma of choice.
We ended the discussion by agreeing that betterment is an opportunity of maximization and the opportunities presented by these assets are plenteous.
▶️ 3Speak
Great discussion! I didn't see it that way before. I was with the impression that digital assets with eventually replace physical assets. I guess it's because of our progressive nature like josediccuss pointed out. We're always going into the future while ignoring the present or past. Digital assets indeed enhanced physical assets through overcoming its limitations but it's purpose isn't to replace physical assets in its entirety.
It is just exactly as you have pointed out. The truth is that any advancement that is technologically innovative isn't actually means to completely replace Or destroy but to majorly complement and enhance. The truth is that having digital accept compliments physical except means people have more opportunities to create balance and reduce the aspect of uncertainty when it comes to ownership of property and wealth. This is what the US government is currently not understanding. Crypto is meant to enhance and not to really destroy or replace
I'll be looking it that way going forward. Finding ways to combine the two for an optimized investment portfolio. I think they can compliment each other beautifully.
The US government missed the point with crypto, it indeed isn't here to replace the tradfi system in its entirety.
True, Jose put it easier and better there. As much as we the younger generation tends to like the digital life, we can't entirely ignore physical assets because the digital ones are now here. This is where diversying comes in. I
I like the idea of us now having both options and one (digital) being a lot easier to acquire than the other.
Many thanks for watching.
Indeed! Having more options on how or what to invest in is a great thing. We can best design it for our individual preferences. I tend to prefer digital assets too but physical assets seems to be the ultimate asset.
@tipu curate 4, it was indeed an amazing session
Upvoted 👌 (Mana: 20/60) Liquid rewards.
Great discussion gentleman! Also cool getting to see @josediccus live on screen after getting to know you through your blogs!
I completely agree that digital assets will not replace physical ones - you can't live inside a virtual house for example. But like you, I do believe the ability to transact and trade in digital assets is much easier and as such the market will reprice itself to put more value into these.
Lol true, we certainly cannot live inside a virtual house as much as we like digital assets and tend to spend most of our time online now, it doesn't make up for the physical and that applies to assets as well.
I do think we are only seeing the infantry stages of digital assets for now as it promises a lot more opportunities to own assets as we advance with blockchain technology.
Many thanks for watching.
@aftersound hahaha thank you, I also so post 3speak videos on my blog, so I share my face a lot. Thanks for coming to check our podcast
I'll have to check them out - thanks for the heads up!
Great topic guys! ✨
Indeed, finding a balance between the two is the best option as they both come with different risk exposure. When owning a physical asset one needs to consider continuous investment in maintaining them and paying insurance as some of them deteriorate over time. And the transfer of physical assets can be frustrating due to many regulations and having to register the new owner.
One even gets charged a lot of money just to transfer a property to their name and registration fees too if they are to buy from someone. Also, there is a tax to pay when selling the property and your kids will also pay inheritance tax when they inherit some of your physical assets or money. That alone just makes one not have maximum ownership of their money.
Meanwhile, digital assets are easy to transfer and one does not need a middle man for that. At least for now, we do not have regulations that take a portion of what we own. But that also makes it hard to insure them for theft or loss. And what you guys mentioned is indeed a great benefit - not having the risk of losing your assets from natural disasters. Although this also means trusting the sustainability of a platform one invests in and the high risk of not being able to recover your assets be it due to a scam or losing access to them forever. So indeed balance is key!
You have actually spoken a lot about the too many gatekeeping that comes with physical assets. We didn't even meander towards looking at it from this angle. However, a lot of people trust what they can see and touch and some of them do not even mind passing through all the gatekeeping and tax paying.
Sometimes it is their level of exposure and the lack of idea of comfort that they might enjoy by having or choosing to own digital assets.
However for people like us here on the blockchain, we already understand physical and digital assets, and we already know that creating a balance is what matters the most.
Being on a place like hive brings a lot of exposure.
Thanks for the comment always.
Admittedly, I was a bit biased there highlighting too many gatekeeping that comes with physical assets😀. Unfortunately, that is the exposure I have so far that physical assets need one to be wealthy to maximize their benefits. And it is not that easy to start investing in them from nothing.
Exactly! Balance is key.
Well you were biased for a reason and it was a good bias hahaha. I think one's exposure or knowledge of sophisticated technology can create this mindset and we begin to think differently, away from normal abstracts. That's why the digital space can do to one. Over time, people will come to understand, but the people who are already exposed from now will be the biggest gainers in the future
I am patiently waiting for that moment!🙃
Reminds me of when my ex-boss had to sell his house, it ended up being a loss with agent fees and all other stuff that accompanied it, I was so angry back then when he told me about it.
Diversifying into both asset classes should be a wiser way of investing instead of going completely in on digital or physical.
Thanks for watching Humbe.
That's a terrible experience and to even think property is considered an appreciating asset.
True, Diversifying into both assets is key!