Topic: A rent seeking based economy is destined to failed, young men valuable productiv (Read 210 times)

That's the process of mining and it has nothing to do with you holding coins.

The comparison is not fair, it's like saying construction working being an action that adds value is legitimizing all the actions that derive from it, like a monopoly on renting and housing speculation. The average person that holds bitcoin is not mining, is not drawing any power is not doing anything,half miners on the other hand could quit tomorrow if the block read goes to half of the value but that would not have any effect on the holders, right? Take it as an insult when you show me how much you help to secure the network, till then you brag about what others do, but based on one of your previous posts about mining I'm 101% you don't have a clue even how it works.

Again you're demonizing rent-seeking while doing the same.


At the beginning of the last century, the average living house was half the size, had usual no dedicated bathroom, no running water. There was no fridge, no microwave, no oven, usually a gas or wooden stove, and a boiler. Dishwasher? Vacuum? Color TV? Phone? The US had 0.11 cars per thousands of people in 1900, it has now 816.

You're just waiting for everything to doom and gloom without bothering to check facts, if that's how you want your life to be, seeking only misery and despair, feel free to continue, it's your choice.

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>The old doesn't always want the same thing, they do not always go for rent, they also go for stocks or gold or other stuff that could help, they could even get bitcoin, that is what I am doing right now for example I am buying bitcoin for my future, I would like to retire so that bitcoin could take care of me, it is not that others should work hard and take care of me, it is that I made a smart investment and in my old age I want that to take care of me.
plenty of people are waiting for govt handout to save the day, pension fund for the old man retiree couldn’t stopped, I’m not entire sure how do you made it, however you could be the minority who can be independent, but many people are living a life of depending on each other, mutually supporting each other, they would be in deep trouble when that relationship ended unexpectedly.

>However what this piece is missing is that when those old people die, if they have a ton of stuff they could leave that to their children and they could leave it to their children which creates a class conflict because some people are richer by birth while others have to work really hard to take care of them. Walton family did NOTHING to provide anything to the world, but they are one of the richest families ever because their father created Walmart.
inheritance is also another form of rent seeking practice, although it has never failed generation after generations, it added more reason into why rent seeking is itself very bad, shouldn’t be encouraged

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>In past eras of human history, it was possible to start out in an entry level position. Work your way up the corporate ladder learning the business. Until eventually you were running the entire company.
that’s possible before the market is fully free, without any human made manipulation, when everything else is starting off new, everybody could work in a common ground, and share the same goal. But greed kick in and thing begin to turn soar, it start off as bank begin to provide loan to feed the greedy minority, and eventually bank runs occurred and the banker take the money out of the supposedly fair market and run into another regime, which stir the equation to a point, many bank depositors money vanished into thin air, and riot followed, although it was later the govt intervene to reimburse the depositors money in form of IOU, and... the failure continue until today.

>There was a shift in format where a college degree became an essential requirement for leadership and executive positions.
It is not gonna change, hey would add more requirement to stop people from getting the job, because rent seeking behaviour clearly exhibited on the job market.

>Elon Musk recently criticized this trend to a limited degree. When he said there are too many MBAs in corporate america.
yup, I’m not gonna lie, people are getting MBA in hope to stand a chance to get a decent job opportunity, which is coping too hard in my opinion.

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>There is a question as to what the real value of higher education is in this day and age IMO. Is it worth college students selling themselves into debt.
everything has to root back to the time gold standard was lifted, govt used of fascist yet, reckless kool aid fiscal policy to stimulate the artificial market growth, the side effects is well observed today, but many people would dismiss the claim, they’re not even literate enough to understand them, it’s undoubtedly student are the victims of this failures, they’re forced to pay the high price of the debt cycle, which is left over by the old men.

>While the student loan bubble looms over our standard of living and economy? Perhaps restructuring and reform is something people can support?
The economy has failed, they wouldn’t stop dismiss the failure, there would be no great reset, there would be no turning back because the govt wouldn’t stop manipulating the data, to indoctrinate public into believing the artificial market growth. But it’s possible to reverse the govt effort, slowly and modular, one step by one step, by using the same approach to what the govt did, with a little twisted into the approach that make it sound like it’s something else, I think bitcoin well suit the narrative.

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>So, from what cave did you emerge?
gender role is one thing that’s determining the one who could have been hard monetary wealth than the other. Although there is a minority exceptions, some of the strong women trying to reverse the bias, they didn’t succeed, they just give rise to the feminist movement but not fixing the actual issues, the wealth disparity. Nope, not gonna change my mind even with more number and data, it’s genetically determined hard reality, no amount of manipulation would change it.

>Again one of those theories that the evil ones holding the wealth are increasing it without giving a dime to the poor people, and they are only motivated by greed and are evil and are leading to the destruction of the nations and we need to do something about them and the most important thing in this plan is to grab their money.
is it still just a theory? I’m reluctant to conclude it’s not conspiracy, it’s organised in some form, of course the profit from doing so, is itself the motivation to keep working on this theory. People are migrating on the wake of frustrating the inevitable (rent seeker behaviour) before them, nope they didn’t destruct the nation, they just force peasant to migrate.

>If you're so much against people who make money out of nothing how does this match your love with bitcoin, you do nothing but hold an asset and your wealth increases exponentially while the wealth of others working all day long is not budging, all their hard work is just helping them get over the next day. Sounds like a bit of hypocrisy, doesn't it?
I’m not intrigued that someone would equal bitcoin to rent seeking, I’m not gonna lie it does give me a feel that it definitely exhibit some of the properties of a rent seeking. But I don’t wish to equal bitcoin to some form of rent seeking money. To say that bitcoin hashpower that can pull off 150 exahash of computing power, is a waste of power, is a zero risk endeavour, is not really a work, is not really a contribution, is not benefiting to society as a whole, is equal to rent seeking, is an insult to the proof of work reputation. Bitcoin start off itself as a donation currency, it didn’t have anything to do with rent seeking, it’s the proof of work that isolate crypto itself from being one form of rent seeking money, although there might be a time, thing might change, proof of stake sound closely resemble to rent seeking money. Being hypocrisy, on perceived bitcoin as a form of rent seeking? Nope, bitcoin is not entirely a completely leech, I don’t believe bitcoin itself is entitled, bitcoin also didn’t owe the world any form of debt. It’s not fair to equal bitcoin to self entitled, rent seeker money. It’s also not fair to cherry picking investing in bitcoin is the same form of rent seeking practice, although it tick a few of the checkboxes.

>Everyone ignores data they don't like. The same narrative:
You could buy a meal with 1$ a hundred years ago, the economy is down the drain, the average worker is worked to death by the evil corporations..
yeah your dollar is getting devalued, everybody talk about one bitcoin is one bitcoin, one gold coin is one gold coin no matter what year it’s. They often failed to realise, one dollar is not one dollar today, your one dollar that got you one BigMac in 19XX are getting you a quarter of BigMac today, because one dollar is being stolen indirectly. Yeah don’t believe me, yeah prove me wrong all your want, yeah your one dollar is still one dollar, keep living in denial.

>Nobody is saying a word of what that wage 100 years go could buy you, nobody says a word that life expectancy is going up, illiteracy has been eradicated, things that were unaffordable luxuries then are common as slippers now. We want highways, we want parks, we want services, and we want this for free as fuck logic, we deserve it. Let's look at what you had in 1800? The right to fuck off?
you still didn’t afford the same luxuries that’s dated to 100 years ago, is the mansion a luxury? Yes, what you get today is just a deceived form of studio apartment that’s hardly resemble mansion, but you can boosting your ego by calling whatever suit your narrative. Also many luxuries in the past remain luxuries today, because they’re built with solid, high value chemical composition. Yes, toilet paper is also luxury today that’s also luxury in the past.

So, from what cave did you emerge? 


Everyone ignores data they don't like. The same narrative:
You could buy a meal with 1$ a hundred years ago, the economy is down the drain, the average worker is worked to death by the evil corporations..
Nobody is saying a word of what that wage 100 years go could buy you, nobody says a word that life expectancy is going up, illiteracy has been eradicated, things that were unaffordable luxuries then are common as slippers now. We want highways, we want parks, we want services, and we want this for free as fuck logic, we deserve it. Let's look at what you had in 1800? The right to fuck off?

In past eras of human history, it was possible to start out in an entry level position. Work your way up the corporate ladder learning the business. Until eventually you were running the entire company.

There was a shift in format where a college degree became an essential requirement for leadership and executive positions.

Elon Musk recently criticized this trend to a limited degree. When he said there are too many MBAs in corporate america.


....


There is a question as to what the real value of higher education is in this day and age IMO. Is it worth college students selling themselves into debt.

While the student loan bubble looms over our standard of living and economy? Perhaps restructuring and reform is something people can support?

The old doesn't always want the same thing, they do not always go for rent, they also go for stocks or gold or other stuff that could help, they could even get bitcoin, that is what I am doing right now for example I am buying bitcoin for my future, I would like to retire so that bitcoin could take care of me, it is not that others should work hard and take care of me, it is that I made a smart investment and in my old age I want that to take care of me.

However what this piece is missing is that when those old people die, if they have a ton of stuff they could leave that to their children and they could leave it to their children which creates a class conflict because some people are richer by birth while others have to work really hard to take care of them. Walton family did NOTHING to provide anything to the world, but they are one of the richest families ever because their father created Walmart.

Well, what is important is contributing sufficiently or to the best of your ability. If you reward people based on the usefulness of their good contributions, we will be depending on merit-based reward system, which would encourage other members of the society to work hard, develop themselves, contribute and earn rewards. I think you can easily get everyone to work hard if you could get them to focus on the areas of their strengths and also guarantee them their basic needs for healthy living.
Anyone who doesn't give back properly after receiving these things could be seen as a well watered/nourished plant that fail to bear fruits sufficiently or according to how much care it receives from a farmer

you tell me to do my homework.    I am going to ramble a bit here.  I might clean it up later

I am a genX

I can tell you from being on the planet 50 years that humanity is getting richer as a whole then ANY TIME IN HISTORY EVER.  Yes ,there are people out there that don't have as much. That's not even in question here.

Whats in question here is you attempting to invalidate a system that has dragged humanity from permanent starvation cycles and permanent poverty.   In the 70s and 80 (it happened prior to this as well) there were Literally starving to death children in Africa All the damn time.  Now you have "we need to educate" charities instead of starvation prevention charities.   That's a GIGANTIC improvement in less then 50 years. 

Lets break this down.  You complain that older people have stuff that they earned and want it to continue to earn.  Greed is not nice right?   Wrong.  Greed is what keeps you alive.  If you weren't greedy you wouldn't eat.  Greed is a Requirement to be alive.    The capitalist system is accidentally utilizing Greed as its driving factor instead of Compassion. 

Contradictory to Compassion it works far better then compassion.    As a matter of fact its been determined that once people are rich enough they tend to try to spend their money in such a way to drag other people out of the muck (Lots of unsuccess here).  But if given away for free the effect is wasted. 

Greed just seems to work better then straight up compassion.  Greedy First, Compassion as a secondary effect works best.

Compassion without greed gets you two starving people instead of one.   Or entire countries.  People who lie to you about being compassionate for other people and then take all your money is Rampant among the socialist circles.  They utilize Your compassion against you and take your money.

Not I am Not denying that the capitalist system has problems.  It really does.  It just happens to have worked better then ANYTHING ELSE ever tried. 

Any form of socialism has completely failed unless it was first backed by Capitalism and Maintained by capitalism.

You have to poke the human animal where is doesn't like it to get it to work. 

Humanity is now living longer on average then it Ever has.  The societies are in places no one in history has ever been.   We are on the cusp of possibly doubling that life span.  so.  Expecting stuff that other people just spent 100 years working for for free isn't going to happen.

So your argument that greed is untrustworthy is incorrect.  Its COMPLETELY trustworthy,  its the COMPASSION that's untrustworthy.  The fake compassionate ones that mask their greed with it.

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>curious on how you would respect ownership of various properties.   
>the owner of said property may have worked his butt off to get property.   now that is a simplification but i think your argument is as well.  how would you handle that?  the Old Did work to get that property.
the property itself is perfectly legit, it’s perfectly fine to gain some profit of the renting valuable, but it’s the human greed that’s untrustworthy, they would abuse the conveniently rent seeking, milking this very trades like a cash cow, abuse the agreement between lender and borrower to the point it’s become ugly and very one sided, this is when the agreement become to crack and would collapse quickly. I’m not going to give any example so do your homework.

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>The developed world has become more difficult for the young. There is an stagnation of opportunities for many and the increase in life expectancy means that the old generation will held their resources for a longer time and the young will have to serve them for longer.
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Rent seeking has been around for many centuries and it never been challenged by the another greater force. To say that rent seeking would failed, it’s kinda of fairy tales, because it has never failed, the rent seeker itself is a huge ring of ultra elitists who has been profiteering off rent seeking for generations after generation, it has never been challenged by anyone from any centuries, everybody fear the rent seeker, everybody worship rent seeker as if they’re descendent of overworld being and they’re entitled godly entities, peasant paying their due is the godly order, uncontradictable by all means.

Today, for once in the entire lifetime of human history, bitcoin could stand a chance to challenge this supreme stronghold, because the rent seekers are looking at bitcoin with great interest, they call bitcoin is worthless but blockchain is valuable, they fud the bitcoin every single day, they won’t skip a chance to destroy bitcoin, they can’t afford to let bitcoin outgrow their influence. Their very existence is finally getting shaken by some greater power, they know about bitcoin by late 2017, but they didn’t know bitcoin could grow beyond their scope, they nearly never pay slightest attention to bitcoin, but today they’re all going wreak havoc over bitcoin, the only reason they’re acting very funny toward bitcoin is,  they’re living in fear, they fear their stronghold might be falling, they has been living off the rent seeking since forever and it’s the first time ever they has been living in fear.

Bitcoin might not change anything ,or destroy the rent seeker ever accumulated ill gotten wealth, but it open up a new possibility, the possibility of wrecking up a once thought to be invulnerable stronghold of arrogant old men who think they would always at the top no matter the world is burning in hell fire, peasant outcry on oppressive ruling, famine and poverty jobless, crime rate is totally off the chart, youths living in constant oppression and mentally manipulated to commit violence. Bitcoin is the first step, it’s not the last step.

While you have not a great ability writing, you are talking about something that is less spoken about than other "divides" - you are talking about the generational divide, how our parents have lived a better life than we our our children may actually enjoy and how the law and politics protect their privileges and rents above giving opportunities to the new generation.

The developed world has become more difficult for the young. There is an stagnation of opportunities for many and the increase in life expectancy means that the old generation will held their resources for a longer time and the young will have to serve them for longer. But that is just statistics, try to make this about you using your opportunities.

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>I don't think the ones who are old should considered rent seekers.
the entire investment forum is infected by people obese with rent seeking behaviour. It’s not limited to old fag, anyone can be rent seeker, young or old, it’s as it name suggest, “entitlement” mentality, or they think “I deserve it because I work for it and the world owe me that monies”, the mentality is completely harmless, politically corrected, I can’t point out what’s wrong being rent seeker. However we all know what it bring to the world today, no job, no purpose, no direction, don’t care, productivity plunge to zero, of course, scammers run rampant, if you don’t scam, you get scammed.

>Just checked the definition and it is clear enough what the phrase means... Unless you think all the aged are doing such thing, as defined by dictionary.
rent seeker,  is the latest narrative to call for those who stepping on other hard work to making a living in life, they would call themselves take the risk and they deserve the entitlement, most notoriously hard property rent seeker, there is also license copyright rent seeker, the evolved form of rent seeking, tax on top on another tax is also rent seeking, fixed income is also rent seeking, basically everything that they take zero risk and they get to live off a carefree, entitled lifestyle is itself a rent seeking.

>The problem for the world is to figure out how to make very good use of old people in their midst.
life expectancy going parabolic is always the most unprecedented social disease, everything work fine when people has shorter lifespan, and the underwriter could manage the risk easily with low lifespan, when the healthcare get too advanced, old people get too longer lifespan, but also consume much more the resource than all else, making the resource scarce to younger people, most notoriously young people couldn’t get to the top position of any MNC, the top position CEO, CFO, COO is always the oldest unproductive parasite that keep telling you they work the position and they deserve the high pay and they can live like king entitlement. Figure out how to fix them? Nope we don’t fix old people problem, they’re the social disease that shouldn’t even existed but the miracle is life expectancy has soar a lot that make them arrogant.

> I believe if you ask them what good things they would love to do always that can be used to benefit others/society, they will provide good reasonable/viable list.
Just put all of them in their various departments and they will be useful to society
Don’t care. Let the nature decide their fate, survival of the fittest is their best medicine to cure them.

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>I think that as young people we are very productive and the key for any successful economy, but the older we get we less productive we become and we change into rent seekers. There always needs to be a way for people to accumulate wealth and profit of it.
they’re good when life span is short, since the economy equation can balance itself when scarce resource is shared by ever growing population, but... it become a disease today.

>If rent seeking becomes complete obsolete because its not attractive anymore than it will be hard for people to work for a certain goal. Many of us plan to you rent as a form of income when we retire
the economy is designed by them, and it has failed because they’re planning people would have short lifespan, and that would make up the equation of a meritocracy system, but fun enough, the underwriter couldn’t figure out the lifespan has soar exponentially which cause their equation to be in constant deficit which would need to be repaid by the new generation that come later. But you all had no idea what’s their greatest fear.

curious on how you would respect ownership of various properties.   

the owner of said property may have worked his butt off to get property.   now that is a simplification but i think your argument is as well.  how would you handle that?  the Old Did work to get that property.

I don't think the ones who are old should considered rent seekers. Just checked the definition and it is clear enough what the phrase means... Unless you think all the aged are doing such thing, as defined by dictionary.

 The problem for the world is to figure out how to make very good use of old people in their midst. I believe if you ask them what good things they would love to do always that can be used to benefit others/society, they will provide good reasonable/viable list.
Just put all of them in their various departments and they will be useful to society

A rent seeking based economy is destined to failed, young men valuable productive youth is the ultimate form of hard money, not even replaceable by gold or bitcoin or usd

A rent seeking based economy is destined to failed, young men valuable productive youth is the ultimate form of hard money, not even replaceable by gold or bitcoin or usd.

Rent seeker look for hard money to secured their ever expensive retirement, they need someone younger to take care of them by changing their diapers, it’s a NEED not a want, they are old and they would die and leaving all their remaining wealth if all the productive youth stand up and refuse to fix them, bitcoin is the first step but it’s not the last step, bitcoin would be replaced by another newer generation of young person money. There is no doubt your kids could be your only most valuable hard money as they’re the only person you can actually entrust them to take care of you, not even any other stranger or your government would save you, if you think an unreliable robot can do a better care taking job, however it could be orchestrated by maid slavery. Since only men can be the most valuable hard money, but women is the complete opposite, women only valuable by the time they gave birth and achieving puberty and depreciating since then, rent seeker understand women very well, they would still look for hard money to secure their retirement, they can hire maid to take care of them, they don’t need to hire butler which might be barbaric, however, whether it’s butler or it’s maid, both of them are untrustworthy, as butlers would rob brutally or maid would steal legally, the ultimate hardest form of hard money is still young person valuable  productive youth.

The only thing I like about bitcoin is, because the rent seeker has fuck up the economy and constantly denied it. Majority of the youth couldn’t even have a proper job or worse they never get to try to make a job, they’re forced into jobless however since the fate always favouring the younger person, even without money, without job and without food, youth people would still create abundance out of nothingness, bitcoin is the form of money created by the young person who is productive and they’re the one that make the bitcoin the hardest form of hard money, I invest into this hard money because it’s the young people money but not the RENT SEEKER MONIES, if one day bitcoin become the RENT SEEKER monies, it’s the time I would quit and look for next new form of hard money.

Thank for reading my insight, I wish you have a good day.