You work your butt off, and a rich dude does nothing and gets rich - how?

[jeffersonairplane]

You work your butt off? It's at Mcdonalds, let's be honest that will get you no where. The honest thing is, the corporations are the ones to keep getting richer and richer while the working man helps get that accomplished. Its all a game.

[bitgeek]

It was always like this. Long ago you were born into royalty and others were born into poverty or slavery, they worked their asses off and had nothing their whole lives. Life sux there's no equality and never will be.

[CEG5952]

It was always like this. Long ago you were born into royalty and others were born into poverty or slavery, they worked their asses off and had nothing their whole lives. Life sux there's no equality and never will be.

I'm not convinced. Yes, historically, the basic dynamics of rich vs. poor have never left us, and we aren't exactly fighting the trend, either. But I'm still of the opinion that people can only be kept down for so long....

[Ozziecoin]

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. We should at least remove this feature of modern economies by eradicating FRB. In my view, the best way to achieve this is via having an uninflatable fixed money supply. I.e. crypto currency on a blockchain.

[Ron~Popeil]

It was always like this. Long ago you were born into royalty and others were born into poverty or slavery, they worked their asses off and had nothing their whole lives. Life sux there's no equality and never will be.

I'm not convinced. Yes, historically, the basic dynamics of rich vs. poor have never left us, and we aren't exactly fighting the trend, either. But I'm still of the opinion that people can only be kept down for so long....

I tend to agree that inequality will always be around. We can certainly lessen it greatly but leveling the playing field instead of tilting it in favor of the aristocrats.

[NotLambchop]

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.

[okthen]

There will be always someone luckier than you, who gets things almost effortless.
But I guess one should take comfort in knowing that if you work your butt off you'll end up better than most dudes in your starting position.

[TheDoors]

The matter is, that there are different rich dudes. Some of them, got rich working their butt off. You just do, what you think you should do, and the result you get is what you deserve.

[Ron~Popeil]

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.

[NotLambchop]

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...

To be more precise, anyone with an internet connection and $654 could acquire a bitcoin.  It is an investment in and of itself.
Investing *with* bitcoin, AKA "invest while you invest," has proved to be slightly less profitable than investing in streetcorner shell games.

[Ozziecoin]

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.

[bitgeek]

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.

[leezay]

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.

What will make btc obsolete?

[Ron~Popeil]

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. 

[okthen]

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.

[Ron~Popeil]

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.

[Ozziecoin]

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.  

[Ron~Popeil]

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.

[johnyj]

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

[NotLambchop]

^Ever seen a banker moult, johnyj?  It's mesmerizing...