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Author Topic: 2,300 billionaires, each holding $600m of cash on average  (Read 3248 times)
Whtwabbit
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September 24, 2014, 04:56:48 AM
 #1

Be great if some of this money started flowing into Bitcoin




http://rt.com/business/190100-billionaires-hoarding-millions-cash/



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johncarpe64
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September 24, 2014, 05:09:52 AM
 #2

The reason they are holding so much cash is because they do not want to take investment risks with their money. Bitcoin is anything but a sure thing so I would say it is unlikely that someone holding cash would want to take the risks of price declines of bitcoin.

Billionaires generally do not have the same problems with sending money cheaply that "normal" people do that makes bitcoin attractive to most people

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September 24, 2014, 05:25:56 AM
 #3

 Never thought it was $600 million - I wonder how they got that number?  I'm reminded by people like Donald Trump who declared bankruptcy multiple times and almost declared personal bankruptcy due to being asset rich and cash poor.


Although I can understand millionaires holding onto a lot of cash.  Real estate and the stock market could undergo a huge correction and it would be a shame if you lost most of your net worth and had to return to being one of the "peasants" and work some 9-to-5 (ex millionaire suicide is rather common).

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September 24, 2014, 07:03:28 AM
 #4

The reason they are holding so much cash is because they do not want to take investment risks with their money. Bitcoin is anything but a sure thing so I would say it is unlikely that someone holding cash would want to take the risks of price declines of bitcoin.

The longer bitcoin stays around, the more widespread it becomes and the higher it goes in price the  greater risk switches over to a risk of being left holding endless, worthless fiat promises ... network effect of money is covered by game theory (store of value function not medium of exchange).

BTCewdquestion
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September 24, 2014, 10:51:05 AM
 #5

If you were given 1 dollar for every second since the day you were born, you would be a millionaire by 10days old.

At this same rate, you wouldn't become a billionaire until you are 31 yrs old….
V8x8d
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September 24, 2014, 11:16:13 AM
 #6

One day the illusion that the $ is a safe haven will shatter. My money is on bank bail-ins.
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September 24, 2014, 12:28:46 PM
 #7

Be great if some of this money started flowing into Bitcoin
It would be even greater if wealth wasn't distributed so disgustingly skewed toward the 0.1%

The reason they are holding so much cash is because they do not want to take investment risks with their money.
This is folly. Fiat scrip IS a major investment risk. History has proven this again and again.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
Mr Tea
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September 24, 2014, 12:33:12 PM
 #8

I'm sure some may invest in bitcoin, but what would be the point? They've already got enough money or more than they could ever need.

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September 24, 2014, 12:36:25 PM
 #9

If you were given 1 dollar for every second since the day you were born, you would be a millionaire by 10days old.

At this same rate, you wouldn't become a billionaire until you are 31 yrs old….

so you see how far is from millionaire to billionaire?
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September 24, 2014, 12:47:55 PM
 #10

If you were given 1 dollar for every second since the day you were born, you would be a millionaire by 10days old.

At this same rate, you wouldn't become a billionaire until you are 31 yrs old….

so you see how far is from millionaire to billionaire?
900 millionaires together have less wealth than one billionaire. It's pretty self-explanatory if you ask me - the system is broken.


Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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September 24, 2014, 12:49:17 PM
 #11

One day the illusion that the $ is a safe haven will shatter. My money is on bank bail-ins.

Well, ask yourself: Are these super powerful, rich people at top moving millions going to simply sit back and relax as their super fortunes vanish? Not in a million years. USD will not fail unless these guys want to imo, because they control everything.
They are not going to allow for big Bitcoin holders to be the new elite, they'll do something about it. I don't know what, but something.

Oh and becoming a millonaire, let alone a billonaire, depends on so many factors that it's mostly luck.


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September 24, 2014, 02:14:37 PM
 #12

If you were given 1 dollar for every second since the day you were born, you would be a millionaire by 10days old.

At this same rate, you wouldn't become a billionaire until you are 31 yrs old….


a billion is an insane amount of money, and no one should have that amount before the whole world has enough food and necessities.

a million is not all that much, i mean it's nice to have, but it's not as much as you'd think.

many people in a western society will actually earn a million or more throughout their lives, but most of it will be eaten away by taxes and also housing and food etc.
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September 24, 2014, 02:35:51 PM
 #13

...because they control everything.
They control almost everything. Guess what is beyond their reach?

1. The internet
2. Internet-based money, AKA cryptocurrency.

There is a reason these sociopathic tyrants have been trying so desperately to control the net with crap like SOPA & PIPA.

They are not going to allow for big Bitcoin holders to be the new elite, they'll do something about it. I don't know what, but something.
Every time a competitor or threat to the fiat monpooly has emerged in the past, they have responded with violence. That tactic is no longer effective with the advent of decentralized internet money, so they are left with no other choice but to capitulate, or fade.

Some will resist, and they will lose all their wealth. Others will adapt and survive. Either way, we needn't concern ourselves with the welfare of the monsters that ruined the world in the 20th century with their violence-backed monopoly over the power of money.

The violence and mass-deception of the 20th century is over. Now is the time for reason and truth to prevail. Now it's our time.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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September 24, 2014, 10:10:07 PM
 #14

Quote
It would be even greater if wealth wasn't distributed so disgustingly skewed toward the 0.1%

In a world of 7 billion people, 2,325 makes up approx. 0.000033 % of the population.

The 0.1% total 7,000,000 in number.

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September 24, 2014, 11:04:03 PM
 #15

Clearly a result of QE: Too much free money but nowhere to spend it, exactly like those alt coins

If they mass spend these money, the fiat money's value will crash immediately, but they have nowhere to spend those money, they already have everything and any new project will just waste those money and trigger inflation


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September 24, 2014, 11:13:33 PM
 #16

One day the illusion that the $ is a safe haven will shatter. My money is on bank bail-ins.

Well, ask yourself: Are these super powerful, rich people at top moving millions going to simply sit back and relax as their super fortunes vanish? Not in a million years. USD will not fail unless these guys want to imo, because they control everything.
They are not going to allow for big Bitcoin holders to be the new elite, they'll do something about it. I don't know what, but something.

Oh and becoming a millonaire, let alone a billonaire, depends on so many factors that it's mostly luck.

Unless you are a member of the Bank of International Settlements, you know nothing.

http://redefininggod.com/2014/09/mainstream-globalist-propaganda-reveals-eastwest-conflict-is-a-farce/
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September 24, 2014, 11:14:56 PM
 #17

The "average" wealthy person will eventually buy into Bitcoin as soon as more widespread adoption is noticed. In my opinion Bitcoin is a sure thing, it is something that will take time for everyone to learn and to adopt. This past year has been excellent for bitcoin. Look at all the merchants adopting BTC, and now PayPal plans on processing BTC payments too? One year ago, not many people would have expected all of this so soon.

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September 24, 2014, 11:35:17 PM
 #18

Be great if some of this money started flowing into Bitcoin




http://rt.com/business/190100-billionaires-hoarding-millions-cash/




You don't know if it's not.  One buys then launches the price up.
tondaS
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September 24, 2014, 11:40:54 PM
 #19

Hoarding cash is pretty stupid in my opinion, it can be hyperinflated very quickly...
seems the average $600m is just amount for few month of expences for the billionaires instead Smiley
Whtwabbit
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September 24, 2014, 11:54:39 PM
 #20

One day the illusion that the $ is a safe haven will shatter. My money is on bank bail-ins.

Well, ask yourself: Are these super powerful, rich people at top moving millions going to simply sit back and relax as their super fortunes vanish? Not in a million years. USD will not fail unless these guys want to imo, because they control everything.
They are not going to allow for big Bitcoin holders to be the new elite, they'll do something about it. I don't know what, but something.

Oh and becoming a millonaire, let alone a billonaire, depends on so many factors that it's mostly luck.

Unless you are a member of the Bank of International Settlements, you know nothing.

http://redefininggod.com/2014/09/mainstream-globalist-propaganda-reveals-eastwest-conflict-is-a-farce/

Thanks for posting that great article, now I just need to go and vomit..

“It's easier to fool people than to convince them that they have been fooled.” Mark Twain
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