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Age 15. Should had hold to the moon. Probably will spend it all before starting college.
I'm reminded of some kid who won $1 million lottery at age 17 (under 18 is allowed in certain areas) and he was down to $200K by first year college (still thought he was rich, so acted smug / arrogant / confident to the camera).
Lost his money by going full 'tard by buying cars, high end vacations and 'blind' investing on the stockmarket.
I bet this 15 year old will 'yolo' his 100K away in months
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Never understood how they managed to convince Richard Branson and other billionaires / millionaires to throw money at them
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NEM already goes up a lot when UtopianFuture delays issuing tokens by a day or two and then down when the tokens are issued. If UF completely stopped issuing tokens, we'ld hit 30K NxT stake within days.
When the weak hands are finally gone NEM is only going to go up. It's easier to get rid of 300 weak hands with small stakes than to get rid of a few dumping whales (as per most alts) who own 60%+ of a coin.
The weak hands are currently dumping their stakes. By the time NEM launches it'll be traders and holders (as oppose to dumpers as per most new alts)
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I disagree Xtester. A lot of copywright coins did what you described (Mastercoin and others) all for naught.
personality worshipping often backfires. I'm reminded how they brought Kevin Spacey to represent Call of Duty
There's little point to it. Practically no one reads articles or videos for crypto currencies. People these days have a 5 second attention span. Think of all that money Doge wasted on the Olympics and Nascar and nothing to show for it.
Do you mean that Doge had nothing to show? Then I agree in that sense that there is no use to market unless there is something which keeps the "decoyed" people in the "shop (or something)"  Nothing to show from the money they wasted on the Olympics and Nascar. There's too many of these copywright coins, whether serious (Mastercoin / Ethereum / Maidsafe) or non-serious (Doge). |
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What's OP talking about? I'm not familiar with any developments which would bring prices down..
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I disagree Xtester. A lot of copywright coins did what you described (Mastercoin and others) all for naught.
personality worshipping often backfires. I'm reminded how they brought Kevin Spacey to represent Call of Duty
There's little point to it. Practically no one reads articles or videos for crypto currencies. People these days have a 5 second attention span. Think of all that money Doge wasted on the Olympics and Nascar and nothing to show for it.
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There's no perfect solution. No economical system will eradicate poverty.
But I believe capitalism is the best solution we have so far.
Modern capitalism as we know it has not been around long - unless you count Renaissance era Mercantilism as being a predecessor. Capitalism only works as long as there is a frontier to alleviate inequality in distribution of wealth. People have a short memory but California until the 1950s was the equivalent of North Dakota and Northern Alberta (except far warmer and a larger population capacity). Texas was the same thing too. If you were able to relocate to California and Texas in the past then you had a better shot at becoming middle upper or upper class than someone who remained in New York. Someone like Conrad Hilton could not had succeeded if he was born in Oslo instead of San Antonio, since all the hotels in Oslo were owned by generational wealth and there wasn't an emerged market (frontier) to sustain an entrepreneurial person. The problem I see with capitalism is what happens when we run out of frontiers? It's a slippery slope from that point on into a plutocratic society (if we are not one already) There will always be inequality with wealth. The most talented people tend to rise to the top if government stays out of the way. That is the natural order of things and will never change. A truly free market allows upward mobility without needing some new frontier or some government intervention. May as well say if we had a truly Marxist society then there would be no poverty and everyone would have abundance.. There's never been a free market in the modern age, the nearest has been frontier regions since there was no precedent wealth but the equality was short lived. |
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Remarkable that Governments are reacting so strong to something which only has a capitalization under $10 billion. I think many are being cautious and assuming crypto currencies could be worth trillions in the future
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Can someone explain to me why a PoW coin where miners put up their money/resources(equipment/energy) is inherently more fair than these alternative ways of distributing stake at the beginning? The main issue seems to be sockpuppets, which is understandable, but other than that is there an obvious distinction I'm missing?
I'm not a miner, so to me when I want to invest in a coin that I feel has potential I'm buying in at some point with my own money. So from my perspective, it doesn't really matter whether the initial stake was created by PoW or distributed some other way. PoW coins seem to be in the best interest of people who have already invested in mining equipment, but to people who haven't it generally seems like a waste of energy.
The way I see it is I could mine early on in a coin if I had the knowledge and the resources to do so, and on the other hand I could buy a stake/sign up early enough in a distribution cycle to receive a stake in a coin. The two methods both reward whoever gets in early, but that seems to be consistent across every cryptocurrency anyway.
Mentioning PoW is a joke - you almost don't see PoW coins coming out anymore - this is in contrast to six months ago when they were still the rage. New PoW coins always get destroyed by a small number of miners who dump in order to pay for their electrical costs and overhead. |
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NxT may had 73 but only 20 invested the full amount and such an obscure IPO (and no taint analysis) likely meant that 20 contained a lot of sock puppets. I wouldn't be surprised if it was just 5 people and they now own $8+ million each.
That is in contrast to NEM where population statistics were made available and taint analysis was conducted afterwards, without prior announcement, and every stake receives the same amount.
No one can have distribution to every person on the planet - this is a logical fallacy rhetorical argument repeated by NxT bagholders to excuse their messed up distribution and price manipulation. An additional fallacy is trying to compare a distribution of 20 big wallets versus 3000, in a community where most cryptos are still 50%+ premined or (in NxT's case) dominated by less than 30 people. A distribution of 3000 is unprecedented. There are other coins, which started after NEM, which copied NEM's distribution model but implemented an inferior version thereof (not checking for sockpuppets, smaller distribution, et al).
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Just when u thought u understand kapitalism ..
they rip you off with credit loans if youre poor or mid-class , they rip you off if ure not.
you have to admire them ; 1% controling 99%, while theyre playing golf
no such thing as poor or middle class. Just the working people and then the elites. The 'middle class' person is a job termination, illness or injury away from being impoverish himself. A lot of people found that out in 2008 recession, this forced many families onto the streets, downsize and/or or to give up their kids. |
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"20-year residential lease for your own tropical paradise island." So with $600k I get it for only 20 years? :/ Islands in general are expensive. Price ranges from 500.000$ to 30.000.000$. It may be cheaper to make the island yourself or to share the island with others; There are television shows dedicated to bargain island real estate. There does appear to be a lot of cheap islands out there and many are located near goods & services. The real cost in owning an island is the infrastructure and maintenance. |
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There's no perfect solution. No economical system will eradicate poverty.
But I believe capitalism is the best solution we have so far.
Modern capitalism as we know it has not been around long - unless you count Renaissance era Mercantilism as being a predecessor. Capitalism only works as long as there is a frontier to alleviate inequality in distribution of wealth. People have a short memory but California until the 1950s was the equivalent of North Dakota and Northern Alberta (except far warmer and a larger population capacity). Texas was the same thing too. If you were able to relocate to California and Texas in the past then you had a better shot at becoming middle upper or upper class than someone who remained in New York. Someone like Conrad Hilton could not had succeeded if he was born in Oslo instead of San Antonio, since all the hotels in Oslo were owned by generational wealth and there wasn't an emerged market (frontier) to sustain an entrepreneurial person. The problem I see with capitalism is what happens when we run out of frontiers? It's a slippery slope from that point on into a plutocratic society (if we are not one already) |
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Very optimistic)
NXT now is only $60m. Considering whales with millions in cold wallets its its $30m.
Realistic value $5-10m imho.
The whale issue is what has held NXT back. If it didn't have that hanging over it then I'm sure it would be far, far higher than it is today. Yep. NxT used to be 100 million, and you had to have been blind to miss all the FUD which did it in. Hypothetically the capitalization could had been 200 to 300 million by now. If you read this forum enough most people aren't interested in buying into a get quick rich scheme. Maidsafe and other IPOs were heavily criticized. |
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More the reason why I shop online for everything, including clothes, well except for food. I'm waiting for Amazon Fresh to expand their service.
Public locations such as shopping malls, especially in a country like the USA where everyone has arms, is a recipe for a massacre.
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someone is seriously manipulating the nem market! hes forcing the price down to accumulate more stakes as i speak! noobs.. stop falling for it!  There's going to be manipulation in a market as small as the NEMstake asset. Just gotta accept it. That is the pareto principle in practice - the 80 / 20 distribution. A lot of people right now think $1500 is huge amount of money for doing very little (beyond sending a small amount of BTC / NxT back in February), so they are glad to give it up for a few bucks. Even though a stake could be worth $10K within a month of launch or millions years from now. I'm inclined to believe that crypto currencies will someday be $1 trillion, as investment gold is currently worth $2 trillion, global remittance (e.g. Flippinos / Mexican in America sending money home) is $500 billion, and Crypto Currencies tend to combine characteristics of gold and remittance. World tourism revenues are over $1 trillion. There's also $20 trillion in retirement funds around the world but let's not get ahead of ourselves. Most people tend to opt for the instant easy money versus the patience in waiting |
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Electronics may be cheaper but the basics continue to be more expensive and unaffordable. The trend of people in their 20s, living with pension age parents, is a relatively new phenomenon in North America and Australia. In my instance, where a starter home in my city goes for $1.2+ million, my hand has been forced and I have given up on any prospects of owning real estate let alone having the space for a family. (which goes back to an earlier post about declining fertility rates). People still want kids but they don't want to have them in basement rentals or shoe box condos. At least the Medieval Serf had his own straw hut and a big field for all the kids.  Poverty is ultimately the result of greed, imho. For someone to live a middle upper class or a upper class lifestyle, someone has to suffer to make it happen. |
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This is off topic from the thread title but it seems like everyone has gone there so I will too: I do believe I learned in law school that alimony is on the downswing. I think too many people realize it's very flawed. Something as big as alimony will take years to get rid of or reduce but I think it's going in the right direction.
It might be flawed, but is there an alternative solution? How would you make sure the kid gets what he needs from a parent who's not around? Alimony and palimony has nothing to do with child support. Alimony is a welfare entitlement program to steal income for the state and the poorer spouse after a divorce. It requires the assumption that one spouse is less capable of looking after themselves and in return for the privilege of marrying their worthless asses the other spouse owes them a living. It is a transfer of wealth from men to women. The government has the incentive since consumer spending from women is an economic driver in capitalism. Despite men making more money than women - almost all the consumer spending (well over 70% if I recall) is from women. Most men, when they make money, spend it on investments which are taxed at lesser rates (capital gains) and this is only taxed when it's converted into $Fiat. Women on the other hand prefer to spend their money on luxuries (shoes and purses) which employs people in the service industry (income taxes) and the product is taxed several times (value added and then hidden manufacturing taxes and commercial taxes on the business which sells said products). The Government, while people claim its' malevolent, is technically only looking out for its' best interests - namely taxation revenue. There's more tax when a man's paycheque is handed to a woman than there is from a bachelor male who either doesn't spend money or spends on capital investments. |
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There was some Korean American from Los Angeles who went to Libya to fight Gaddafi. http://news.yahoo.com/spring-break-libya-133500440.htmlSometimes people fight just to fight. Sometimes for money. IIRC - there are Russians in Syria who are fighting, because Assad promised them condos on the beach. |
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$Fiat favors asset holders and the reality is everything is already owned these days, except for state / crown land. $Fiat essentially facilitates generational wealth.
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