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Topic: You work your butt off, and a rich dude does nothing and gets rich - how? - page 11. (Read 23786 times)

DrG
legendary
Activity: 2086
Merit: 1035
Rich sty rich, or get even richer, as they know all rules of the game, and 99% of population is clueless. They play those rules and they live out of that 99%. As simple as that. BTC , if successful, will change those rules. Those that are now rich will have to learn em or parish, while some "new kids" rise....same kids that know new rules and use em.

The rich don't know the rules..... they write the rules.  If you can spare 1 million for a team of 5 lobbyist than whisper in your Senator's ear and the Senator writes laws helping you make $10 million more than your competition you just won.  All you need to do is write a check for 5 lobbyists.  This is how is works in the US.  I doubt the rest of the world is any different.
legendary
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
It's because you need money to make more money.   When you have more money, you can also have your money working for you (i.e. investments).

When you are living paycheck to paycheck, you basically feel like you are working your tail off, just to keep your head barely above water.
legendary
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
Rich guys are just smarter then you, That's all!
sr. member
Activity: 448
Merit: 250
Further indicator. Look at where the money is and where it is flowing. Below is a chart of house price increases in price bands over the past 12 months in the US:

legendary
Activity: 1148
Merit: 1011
In Satoshi I Trust
the rich people get richer and the poor have less and less...hmmm strange  Tongue


good video:

http://ozziecoin.com/?p=1530
legendary
Activity: 1260
Merit: 1029
It's not knowing the rules.  It's printing free money through FRB and then buying their own assets - the rich work together
And look out for each other.

If i knew how fiat system works on time, i would manage my possession very very differenty, and i would have much more now than i have. I wouldn't loose so much value and would probably gain more. Knowing rules in any system is pure gold. Komunism, kapitalism, any other "ism".....all you need to know is rules and of course have guts to work by them.
hero member
Activity: 756
Merit: 506
It's not knowing the rules.  It's printing free money through FRB and then buying their own assets - the rich work together
And look out for each other.
legendary
Activity: 1260
Merit: 1029
Rich sty rich, or get even richer, as they know all rules of the game, and 99% of population is clueless. They play those rules and they live out of that 99%. As simple as that. BTC , if successful, will change those rules. Those that are now rich will have to learn em or parish, while some "new kids" rise....same kids that know new rules and use em.
sr. member
Activity: 448
Merit: 250
This video explains why the gap between rich and poor is increasing: http://ozziecoin.com/?p=1530
sr. member
Activity: 448
Merit: 250

The social order changes often.

Wealthy country/family can go down the ladder and middle/lower country/family can climb up.


The one constant under credit-money and unfettered fractional reserve banking is that the 1% ALWAYS gets wealthier, no matter who it is.  ALWAYS.

And the social order does NOT change. It's the same rich people, becoming wealthier.

In Australia for example, the top 1% hold wealth equivalent to the bottom 60%!  http://www.theguardian.com/world/2014/jun/16/australias-richest-1-own-as-much-as-bottom-60-says-oxfam

The top nine richest people are wealthier than the bottom 20%.  

To pretend that the bottom can get to the top is total and utter nonsense.

Quote
Those nine individuals — who also include Andrew ‘Twiggy’ Forrest, Harry Triguboff and Frank Lowy — are estimated by Oxfam to have a combined net worth of about $58.6 billion, more than the shared fortunes of the country’s poorest 4.5 million people.

The system is unfairly advantaging asset holders.  It's time we all acknowledged this plain and simple fact. It's also time we used digital currencies to replace credit-money as the lifeblood of our economies. This gross injustice must stop.

full member
Activity: 343
Merit: 100
Simple:

The wealthy derive their income from investments

The middle class from salary.

The wealthy can place enough of their money outside of currency to profit from the fall of central banker backed fiat money, we the citizens get paid in dollars and are wealth is linked to the fortunes of the currency.

There's your answer.  

The social order changes often.

Wealthy country/family can go down the ladder and middle/lower country/family can climb up.

newbie
Activity: 11
Merit: 0
Simple:

The wealthy derive their income from investments

The middle class from salary.

The wealthy can place enough of their money outside of currency to profit from the fall of central banker backed fiat money, we the citizens get paid in dollars and are wealth is linked to the fortunes of the currency.

There's your answer. 
sr. member
Activity: 448
Merit: 250
If one had ANY doubt whatsoever that banks create money out of thin air, watch this: http://ozziecoin.com/?p=1521

We need to use sound money to fix the problem of credit money. Bitcoin, in my mind, is the current front runner.

sr. member
Activity: 462
Merit: 251

Why would it go obsolete? It is designed to be able to evolve with a changing world. 

Yes, and besides that, big names and tech companies are about to get in.
When that happens, they'll have too much to lose and take care of bitcoin's future themselves.
1. Imagine someone manages to crack the encryption before we reach 21, this is quite possible.
2. Someone makes a better coin, with faster confirmation times. This is possible with enough money pumped into its development.
3. Some countries decide to team up together and create their own crypto. This is also possible, as they may not want to accept bitcoin but have their own thing, and it's almost certain we won't be using paper money in 10 years. 

Yes cryptos are the future but I doubt bitcoin will be the biggest, it will always be known as the precursor, like IBM computers but that's it.
sr. member
Activity: 448
Merit: 250
It's all about the ownership of newly created money --- they belong to reserve banks. Basically banks create money to buy everything on the planet

Notice that the "money" mentioned here is base money, not that FRB based money illusion (M2/M3), banks usually use money illusion to prevent the general public from seeing the truth, and that tactic works very well. You lend the same $100 bill out 10 times and created 10 accounts with $100 in each, but you still have only one $100 bill at any moment, the other $900 are only illusions. FRB is a legalized fraud

Nice illustration. According to positivemoney.org.uk - only 3% of money in the UK economy is real money. 97% of it is credit-money. We are at really crazy levels of leverage.
sr. member
Activity: 378
Merit: 254
^Ever seen a banker moult, johnyj?  It's mesmerizing...

legendary
Activity: 1988
Merit: 1012
Beyond Imagination
It's all about the ownership of newly created money --- they belong to reserve banks. Basically banks create money to buy everything on the planet

Notice that the "money" mentioned here is base money, not that FRB based money illusion (M2/M3), banks usually use money illusion to prevent the general public from seeing the truth, and that tactic works very well. You lend the same $100 bill out 10 times and created 10 accounts with $100 in each, but you still have only one $100 bill at any moment, the other $900 are only illusions. FRB is a legalized fraud
sr. member
Activity: 406
Merit: 250
One suspects that in the highly unlikely event bitcoin is obsolete that it will be replaced by an alternate cryptocurrency.  As long as the Internet exists, cryptocurrency will exist (is my current view). I think governments are more likely to collapse than for the Internet to collapse. I think the Internet is probably more resilient than the global financial system itself.  

Eventually their will be a satellite based global wifi network. There are a few projects planning that now.
sr. member
Activity: 448
Merit: 250
One suspects that in the highly unlikely event bitcoin is obsolete that it will be replaced by an alternate cryptocurrency.  As long as the Internet exists, cryptocurrency will exist (is my current view). I think governments are more likely to collapse than for the Internet to collapse. I think the Internet is probably more resilient than the global financial system itself.  
sr. member
Activity: 406
Merit: 250
For me at least, cryptocurrency is a way to remove one of the major inequality barriers plaguing society. I find it abhorrent that it is possible for asset holders to become wealthier doing nothing...

Holding bitcoin has done just that.

Indeed it has, but anyone with an internet connection can acquire bit coin and invest with it. There will never be true economic equality, but we don't have to live in a world where the laws and economic playing field is stacked in favor of the rich.
Aye. The initial discrepancy in bitcoin wealth distribution is a one time event, which was made worse by the wealth inequalities in the FRB system allowing the wealthy to acquire more bitcoins to begin with. However, in future years, one must spend bitcoin to obtain goods and services. It will no longer be possible to create more bitcoins out of thin air, as long as all the bitcoins are accounted for on the one blockchain.
You know how long it will take before bitcoins can no longer be mined? Don't worry about far future, btc may become obsolete before it reaches 21 mill.

Why would it go obsolete? It is designed to be able to evolve with a changing world. 

Yes, and besides that, big names and tech companies are about to get in.
When that happens, they'll have too much to lose and take care of bitcoin's future themselves.

Exactly. These large organizations now have a vested interest in the future of bit coin. This is a great thing for us.
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