So, properly read, a stat like "the top 1% own 50% of the wealth" should be understood as "the top 1% produced 50% of the wealth"... and then with that understanding it quite quickly shows the folly of policies which punish, tax, and otherwise hinder such people. It also illustrates the sheer productive uselessness of vast swaths of the population. Not under a system which permits usury and 'employment' That's irrelevant for bitcoin though. But be warned: Angy mobs normally lynch people who express this kind of attitude publicly... Hehehehe you'd prefer a system which prohibited employment and forbid one man from offering his wealth to another man at a mutually-agreed price for the opportunity cost of the usage of that wealth? |
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The proper way to read "wealth distribution" statistics is simply to replace the word "own" with the word "produce," for in a market economy the money one owns he (typically) had to produce something for, in order to obtain that money. The worker produces labor and trades it. The merchant produces transportation and logistics and trades it. The manufacturer produces physical items. The cook produces dinner, the politician produces problems, etc.
One's wealth measured in dollars is thus a rough proxy measurement of what they produced, as valued by the person who previously owned that money and traded it in return.
So, properly read, a stat like "the top 1% own 50% of the wealth" should be understood as "the top 1% produced 50% of the wealth"... and then with that understanding it quite quickly shows the folly of policies which punish, tax, and otherwise hinder such people. It also illustrates the sheer productive uselessness of vast swaths of the population.
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I thought one of the big advantages of Bitcoin was the whole digital thing.. and that one would want to let people know about those advantages.. rather than encouraging them to buy overpriced novelty * items.  The Casascius Coins are valued as BTC Spot Price + minting and format cost + value of tangible product + novelty + speculative collectors' value + profit for all parties involved in creating, designing, and delivering it to you. So if that equation doesn't add up to be worth it in your mind, that's fine, but these coins are pretty damn cool and one shouldn't assume that the only value is the distilled BTC value. For goodness sake, the marketing effect these coins have had already is pretty substantial. Lots of articles. Lots of tweets. Great conversation starter and great way for people to start understanding Bitcoins better. I hope Casascius and Roger both get rich this holiday season selling these wonderful trinkets! =) |
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So 1% of the people have half the wealth!??! That's not FAIR!!!!
::grabs pitchfork and heads for Singapore::
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The revision you made is much better now, well done.
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What seems to be happening lately is - not much. Volume (in currency) is way down, and the price isn't changing much. That may be the shape of the endgame. It's zombie mode, the fate of many startups. They're not going anywhere, they can't pay back their investors, but they generate just enough activity to keep alive.
Nagle PLEASE short the currency!!! I really want to see you rewarded for your prescience!!! |
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What a gyp.
Please post a link if there is somewhere you can buy 100 btc with credit card for a lower price... ? I'd like to know about it. btcnow.net ? Has been driven mostly out of business - now only transacts with trusted parties who go through a bunch of manual verification, as Google crapped on him =/ |
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What a gyp.
Please post a link if there is somewhere you can buy 100 btc with credit card for a lower price... ? I'd like to know about it. |
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Thanks to all for their replies much better than "FUCK YOU!" lol
At the end of the day what people use Bit Coins for is up to them just like real cash - was just asking for some initial guidance...
Regards
Super_trooper
Super_trooper - let me apologize on behalf of less helpful forum members. PM me with any questions and I'd be happy to help you. I'll also provide my skype ID if you want to chat about anything/everything Bitcoin. |
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Great to have you run a country into the ground Mr. Papandreou.
It's misleading to lay the problems at the feet of any single politician. Politicians are the mirror of the society that elects them, and thus the blame for Greece's troubles is more correctly placed with the large group of people who've sought government solutions to problems in too large a degree for too long. The same is true for the US - Obama is not really to blame for the real fundamental problems. Rather, it's a couple generations of people who've grown up to believe Government should provide for them. |
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Another interesting question: How long until you bought/mined your first coins?
Happened as fast as I could get my money transferred =) Maybe a week via Dwolla? I went from ignorant to curious to skeptical to highly skeptical to intrigued to utterly obsessed and convinced within about 2 hours from seeing a FB post mentioning it. |
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Agree 100%. Buy a Credit Union.
I wonder if, at some stage in the bitcoin world, it would make sense for some of the top companies to form a JV and create/buy a credit union/bank in some free banking area, like Panama? Some grounded, brick and mortar, physical bank that would add one more strong link between Bitcoin and normal financial markets. Is there value in something like that? |
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Prepare a brilliant legal team and start actively engaging in cases to set precedent.
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the other half claim that it's fake money.
Before promptly returning to their Bank of America ATM to withdraw more Wall Street protest money  |
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It's fun buying 10,000 bitcoins under $2.50, even if they're fake. Having all this money just created out of nowhere makes me feel like I live in America.
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