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

[Justine]

"Capitalism" means the society value capital and not labor.
Hence, people who know how to manage money get ahead of the games.
it's just about how to think out off the box to manage the money you hace, not about work work and work  

This is only true if the capital exceed certain size and the manager know how to manage the money and labor.

Even if everything is done right, there are still risk which the money manager can not control.

[johnyj]

The currency itself is just a medium of exchange.  Value lies in the goods & services

Value comes from the demand of the consumers as well as the perceived profit of holding it for future gain.

Btc is backed by investors and speculators alone, without this group, no merchant will take btc as payment.

Right, value is only decided by supply and demand combined together. If goods and services have no demand, their value will drop to zero too

The demand for bitcoin comes from 3 direction: Anti-inflation saving, instant international money transfer, and true financial privacy. As long as these 3 demand holds, there will be value for it

[LitecoinBoss]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

[Timetwister]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

If that's true, what's wrong with that? They'll have to make good investments (and therefore produce for the society) if they want to maintain their wealth.

[Ozziecoin]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

If that's true, what's wrong with that? They'll have to make good investments (and therefore produce for the society) if they want to maintain their wealth.

Please see page 1. Asset holders do not have to work.

[Ozziecoin]

"Capitalism" means the society value capital and not labor.
Hence, people who know how to manage money get ahead of the games.
it's just about how to think out off the box to manage the money you hace, not about work work and work 

We do not have a capitalism based economy, we have an economy that is based on credit. Creditism is overlaid on top of capitalism and distorts the allocation of resources within the economy. Credit money is being pumped into non productive assets such as property, which worsens wealth inequality and greatly reduces the productive capacity of the economy because very little money is being put into productive manufacturing type activities.

[Justine]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

If that's true, what's wrong with that? They'll have to make good investments (and therefore produce for the society) if they want to maintain their wealth.

Please see page 1. Asset holders do not have to work.

Wealth from inheritance usually do not last longer than 3 generations. Children from wealthy family are usually quite spoiled and feel entitled without working hard.

[master-P]

"Capitalism" means the society value capital and not labor.
Hence, people who know how to manage money get ahead of the games.
it's just about how to think out off the box to manage the money you hace, not about work work and work 

We do not have a capitalism based economy, we have an economy that is based on credit. Creditism is overlaid on top of capitalism and distorts the allocation of resources within the economy. Credit money is being pumped into non productive assets such as property, which worsens wealth inequality and greatly reduces the productive capacity of the economy because very little money is being put into productive manufacturing type activities.

Credit and capitalism go hand in hand. Providing credit is simply investing your money in a loan that the borrower will use to hopefully make some level of profit, or increase their standard of living (when it comes to buying property).

[Ozziecoin]

"Capitalism" means the society value capital and not labor.
Hence, people who know how to manage money get ahead of the games.
it's just about how to think out off the box to manage the money you hace, not about work work and work  

We do not have a capitalism based economy, we have an economy that is based on credit. Creditism is overlaid on top of capitalism and distorts the allocation of resources within the economy. Credit money is being pumped into non productive assets such as property, which worsens wealth inequality and greatly reduces the productive capacity of the economy because very little money is being put into productive manufacturing type activities.

Credit and capitalism go hand in hand. Providing credit is simply investing your money in a loan that the borrower will use to hopefully make some level of profit, or increase their standard of living (when it comes to buying property).

This is also known as the loanable funds model, which is false. Money is created out if thin air when banks lend money to people. The money you deposit in banks make no difference to the amount that banks are able to lend out: http://www.positivemoney.org/how-money-works/proof-that-banks-create-money/

This means that banks dilute the money supply everytime they make loans to people. As they create money out of thin air, resources are diverted towards speculative activities. The problem is that credit growth cannot be sustained forever. There is an absolute limit which prevents further debt growth and the system collapses.

[Ozziecoin]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

If that's true, what's wrong with that? They'll have to make good investments (and therefore produce for the society) if they want to maintain their wealth.

Please see page 1. Asset holders do not have to work.

Wealth from inheritance usually do not last longer than 3 generations. Children from wealthy family are usually quite spoiled and feel entitled without working hard.

This is not supported by evidence. See the royal families and aristocrats of Europe. Also, see the land owners of the US.

[Timetwister]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

If that's true, what's wrong with that? They'll have to make good investments (and therefore produce for the society) if they want to maintain their wealth.

Please see page 1. Asset holders do not have to work.

Looking for profit opportunities is also working. Or somebody else is being paid for doing those decisions, then that person is working.

You don't magically create wealth, you have to be able to use productions factors to create something that customers are willing to buy for more than it costs you to produce.

[Ozziecoin]

Looking for profit opportunities is also working. Or somebody else is being paid for doing those decisions, then that person is working.

You don't magically create wealth, you have to be able to use productions factors to create something that customers are willing to buy for more than it costs you to produce.

On the contrary, banks create money out of thin air everyday. Most of the current issuances of debt is for speculative non-productive asset purchases. This means the US economy will stay weak because ordinary people don't have real jobs. This worsens wealth inequality. Meanwhile, asset holders become wealthier because asset prices are inflated by all that extra money being created out of thin air: http://www.positivemoney.org/issues/house-prices/

Asset holders got wealthy over the past few years by simply doing nothing. The assets they held increased in value due to the policies of the fed reserve in printing money and lowering long term borrowing costs, and this had nothing to do with real work.

[Mightycoin]

Please provide your best explain.  Mine is here: My explain (read before commenting or providing your explanation)



USA

Look at your money supply, USA. Wow! All those extra dollars, making Donald Trump feel justified in telling you how to live your life and to be like him.



Can debt rise faster than wages forever?  Only Keynesian and Monetarist economists think so.  


Europe

Don't laugh at our Americans friends, my European friends. Look at all these extra dollars the European banking system and the ECB has created:



This is why you had such a nice time leading up to the GFC.  Now, your Governments realise it is crazy to let debt expand uncontrollably.  Unfortunately, this is causing a lot of pain and misery for the 99%.  


China

This is not a Western Economic issue.  The big gap between rich and poor also exists in China.  Look at this:



This is a rigged system to my eyes.

You can blame it on the history and time itself.Knowingly there is less normal people could do.

[MightyBTC]

What would you expect to happen otherwise?If no one would be rich then who you compensate you for your work?And if everybody's rich who would work?It's a circle which by anyone's effort isn't possible to turn Square

[giveBTCpls]

Every successfull aka rich businessman does this, he needs the poor to stay poor so he can pay shitty wages for max benefits, unfortunately.

[Timetwister]

Every successfull aka rich businessman does this, he needs the poor to stay poor so he can pay shitty wages for max benefits, unfortunately.

If you consider that you are getting shitty wages (which is probably because of the enormous amount of money that the government steals in taxes, or because you are less productive than you think you are), you are free to work on your own, as self employed or starting your own company.

[Bitzkrieg]

Every successfull aka rich businessman does this, he needs the poor to stay poor so he can pay shitty wages for max benefits, unfortunately.

If you consider that you are getting shitty wages (which is probably because of the enormous amount of money that the government steals in taxes, or because you are less productive than you think you are), you are free to work on your own, as self employed or starting your own company.

Majority of them.

[thecast]

Around 60% of the worlds richest wasnt self made. The money they got now were the money made by their family.

If that's true, what's wrong with that? They'll have to make good investments (and therefore produce for the society) if they want to maintain their wealth.

No lol, you have to be mentally retarded to lose big wealth, once u reach a certain amount of wealth, money grows on trees. Its a scam.

[Ringumbau]

Everyone cant be rich. The one that works butt off is necessary for the 1% to be rich. 

[Ozziecoin]

Everyone cant be rich. The one that works butt off is necessary for the 1% to be rich. 

Income disparity in Switzerland between the highest earning and least earning was only 6 times in the early 80's now it is more 400 times. So, credit growth has amplified income and wealth differences to the detriment of society. Capitalism is unequal but under creditism, these inequalities become unbearable due to fractional reserve banking. Normal loans of real money is ok with me but FRB is not ok. Society is fragmenting.