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

[Ozziecoin]

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.

[bitgeek]

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.

[Ozziecoin]

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.

[distcoin]

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. 

[tinof]

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.

[Ozziecoin]

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.

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.

[Ozziecoin]

This video explains why the gap between rich and poor is increasing: http://ozziecoin.com/?p=1530

[ljudotina]

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.

[TaunSew]

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.

[ljudotina]

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.

[LiteCoinGuy]

the rich people get richer and the poor have less and less...hmmm strange  


good video:

http://ozziecoin.com/?p=1530

[Ozziecoin]

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:

[Bobsurplus]

Rich guys are just smarter then you, That's all!

[keithers]

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.

[DrG]

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.

[TaunSew]

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.

This argument could be true if you're working at Walmart and have three kids to feed, but for most people it isn't.  Wealthier people are not wealthy just because they have money but many have traits conductive to being wealthy, such as patience.  Quite a considerable portion of the world's billionaires owe their wealth due to being buy and hold investors, yes even when they were middle class or poor.

Just think of all the BTC guys who panic sold after making $10K, $100K or $1 million. 

[ajareselde]

Rich guys are just smarter then you, That's all!

i know alot of rich guys, and they are dumb as brick wall.
reason they have money is that it takes money to make money.

then you hire people to work for you, pay them 60% of what u were paid for the job and thats it.
you can do this infinite number of times, because you are not working, and you have your entire time free, unlike workers that loose entire day due to their jobs.

[AdamSmith]

Rich guys are just smarter then you, That's all!

i know alot of rich guys, and they are dumb as brick wall.
reason they have money is that it takes money to make money.

then you hire people to work for you, pay them 60% of what u were paid for the job and thats it.
you can do this infinite number of times, because you are not working, and you have your entire time free, unlike workers that loose entire day due to their jobs.

Investor gets reward by taking risk. Labor get paid by contributing their skill and time and not taking any financial risk.


If investing to get rich is that easier, everyone would be doing it right now.

[Ozziecoin]

I think it should be pretty clear by now that the existing financial system allows investors to invest in assets for speculative reasons and not productive reasons.

I.E. It is easier for a bank to lend for property than for a factory.

This is why, in the UK, only 8% of lending is going towards productive purposes:

Over the last 15 years the banks have used their power to create money to pump hundreds of billions of pounds into the property market (as shown by the increase in the categories “Lending to real estate” and “Secured lending to individuals” below). This has pushed the price of housing out of reach of ordinary people. Lending to the finance sector has also increased greatly over the past 15 years; this sector includes the companies that were involved in much of the reckless speculation which contributed to the crisis.

Meanwhile, lending to businesses has stagnated, harming the real economy and lowering employment and growth.

[trader001]

I think it should be pretty clear by now that the existing financial system allows investors to invest in assets for speculative reasons and not productive reasons.

I.E. It is easier for a bank to lend for property than for a factory.

This is why, in the UK, only 8% of lending is going towards productive purposes:

Over the last 15 years the banks have used their power to create money to pump hundreds of billions of pounds into the property market (as shown by the increase in the categories “Lending to real estate” and “Secured lending to individuals” below). This has pushed the price of housing out of reach of ordinary people. Lending to the finance sector has also increased greatly over the past 15 years; this sector includes the companies that were involved in much of the reckless speculation which contributed to the crisis.

Meanwhile, lending to businesses has stagnated, harming the real economy and lowering employment and growth.

Price of property is governed by rental yield and return of investment. Investors investing in property while ignoring yield and hoping for capital gain is not that much different than gambling and participating in a ponzi scheme.