The old financial industry is going to fall over, collapse and turn to dust. And with it, a lot of things that used to be called assets just stop having any worth.
Not only will they lose the basis of their value, they will lose the people's belief that they are valuable. Like, if you can imagine Wiemar German Marks losing their value to hyperinflation, but further people were upset that so many trees were cut down to make the paper they were printed upon. "We would much prefer to have the trees back"
Derivatives go poof! And stay gone.
A better example is Derivatives. Derivatives are these things the financial world created to pawn off risk to other parties. The problem is that they are supposed to be closed when the bet plays out or not. But, they are so complex, that no one will be working out if the bet paid off or not. So, these things just accumulate and get passed around, like they have worth.
If the financial system has a hiccup, all of the derivatives go poof. If one of the parties that created the derivative goes broke, all those derivatives go poof. If the currency goes away or gets replaced, all the derivatives written in that currency go poof. Basically, these things are one black swan away from not existing.
Further, lets assume that people wanted to create these things in the future. Well, it would be done on a blockchain with smart contracts. Meaning, theses things wouldn't act like Derivatives of yore. The smart contract would work itself out, and close. Meaning that these things wouldn't continue to exist and continue to be swapped around.
Even further, the risk in the system goes to zero as bitcoin is adopted. Why speculate? Just own bitcoin. So, the reason for derivatives existing, in the first place, is gone.
So, the derivatives go poof, and if they continue to exist, they will go poof (as contract closes itself), and most people will just never want to deal with them.
And so goes all the Wall Street Financial Assets.
Good bye STOCKS
The stock market is going to collapse, fall down, and turn to dust, have the soil where it existed salted so that it will never grow back.
Corporations, by their very nature are evil. What kind of lawful government would allow an entity to exist that externalizes costs and internalizes profits? We won't allow such things to exist in the future.
Further, most of the giant corporations are doing evil, evil things. BigPharma, BigAg, BigMedia… are doing such evil, that the CEOs, executives, and maybe in the workers will be hung from lampposts. People, as they realize just how evil they are (AND have created alternatives) will boycott them out of existence. In 50 years, there won't exist any large corporations.
Now, the stock market is corruption just waiting to be exposed. Imagine you wake up and find that you do not own the stock that you have purchased. This will be fixed with on-chain NFTs. And then it all falls apart anyways.
Stocks only go up in value because more money is printed, which flows into assets like the stock market. As bitcoin starts to become the world reserve currency, and we stamp out money printing we will find that stocks actually go down in value. And, of course, people figure it is wiser to keep their money in bitcoin, then it is to buy stock.
This will be just in time with people boycotting the Bigs, and basically, we end up with no one wanting stock, and thus, no need for the stock market. Stocks become worthless, and the idea of stocks becomes repulsive.
Rental Properties
This one too, dies a horrifying death. Sell any real estate that you are not living in now.
Imagine that there exists so much inventory that, if a person wants a house, they just find an empty one and moves in. Later a plucky group of youths go to these abandoned housing tracts and remove every bit of useful material.
Demographic collapse, natural disasters, wars, rumors of wars and old age are going to leave a large percentage of houses empty. So many that people just give up trying to maintain ownership of any rentals. It costs more to keep it, than it will ever be worth.
Further, cities become a bad place to live, and those who can, leave.
And even further, people are going to start the Great Migration, where they move to be with their "family", their tribe. And most of these will build a small community/homestead. The single family homes will be shown to be stupid, and a waste of resources to have built.
Add to this, liberal govern-cements making it impossible to remove tenants, and they cap rent increases… you get the sink hole of rent controls everywhere it has been tried. You will have to pay to get rid of your rentals.
Basically, Wall Street dies. Everything that is important will be moved to the block chain, everything else will be left to rot.
No, not left to rot, it will become such that people do not want to have anything to do with it. It will be cleaned up. The crooks and evil people will be hung from lampposts. There will be many who leap out of windows. Wall Street, some of the worlds' most expensive properties, will be empty. And may stay empty for quite a while because no one wants to be associated with the past evils.
Bitcoin is already out performing everything from Wall Street, so those who are paying attention are dumping what they can and moving into bitcoin. Soon, no one will want anything to do with bank accounts, stocks, bonds, derivatives, mortgages, rental properties…
So, all of these "Assets", well, what we call assets now, will not be assets anymore. They will be so bad, that in many cases, you will have to pay to get rid of them.
All images in this post are my own original creations.