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Author Topic: Remember the old saying about the Gold rush?  (Read 1200 times)
seriouscoin
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September 18, 2014, 12:51:55 AM
 #1

Only the tools sellers make money while all the miners are competing and killing each other.

 Grin , go ahead, keep buying yo.
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Zelek Uther
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September 18, 2014, 12:59:06 AM
 #2

I remember that.

Something like:
"The only people who make money from it are those selling pickaxes, shovels and gold pans."

I agree. Just one more pickaxe and I'm done.

Ohhh... look at that cool new shovel! I could really shift some dirt with that...

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Gleb Gamow
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September 18, 2014, 01:18:21 AM
 #3

I remember that.

Something like:
"The only people who make money from it are those selling pickaxes, shovels and gold pans."

I agree. Just one more pickaxe and I'm done.

Ohhh... look at that cool new shovel! I could really shift some dirt with that...

Why shovel yourself when you can manage a flock pool of shovelers, each required to purchase their own shovels, with you taking a small fee for the privilege of the shovelers to have a manager to look up to? Then later (this is where it gets good), you can sell shares of your pool of shovelers to investors claiming how many shovelers you're managing, for there's no way in hell for the investors to discover that there's not enough shovels to go around for all the shovelers you claim to be managing. BTW, you're not the only pool of shoverlers manager, for others came up with the same idea as you, but you all collectively keep each other's operation hush-hush for fear of killing the golden goose. It gets better! Somebody in the collective thought it wise to sell to investors the notion that other ores are also being mined over and beyond the core ore, ergo more shovels that don't exist mining ore that isn't present, all to the investors delights because they, themselves, are repackaging their investments to sell to other investors, mainly hedge funds for some working class collective, some of which are employed...wait for it...making shovels.

notlist3d
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September 18, 2014, 01:40:48 AM
 #4

Some struck it rich.  Some never moved, personally I heading west!   With low electricity and lots of space i am not to worried.
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September 19, 2014, 06:43:55 PM
 #5

Only the tools sellers make money while all the miners are competing and killing each other.

The Big Four, the most powerful men in California after the Gold Rush, and how they got started:
 -Leland Stanford - general store, wholesale
- Collis Potter Huntington - dry goods
- Mark Hopkins - wholesale groceries
- Charles Crocker - hardware

Then they got together and set up the Southern Pacific Railroad. None of them made their money mining gold.
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