Whtwabbit (OP)
|
|
September 24, 2014, 04:56:48 AM |
|
|
██████████ ██████████████████ ██████████████████████ ██████████████████████████ ████████████████████████████ ██████████████████████████████ ████████████████████████████████ ████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ████████████████████████████████ ██████████████ ██████████████ ████████████████████████████ ██████████████████████████ ██████████████████████ ██████████████████ ██████████ Monero
|
| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
|
| | |
|
|
|
|
|
|
|
TalkImg was created especially for hosting images on bitcointalk.org: try it next time you want to post an image
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
johncarpe64
|
|
September 24, 2014, 05:09:52 AM |
|
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
|
|
|
|
TaunSew
|
|
September 24, 2014, 05:25:56 AM |
|
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).
|
There ain't no Revolution like a NEMolution. The only solution is Bitcoin's dissolution! NEM!
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
|
|
September 24, 2014, 07:03:28 AM |
|
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
Newbie
Offline
Activity: 52
Merit: 0
|
|
September 24, 2014, 10:51:05 AM |
|
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
|
|
September 24, 2014, 11:16:13 AM |
|
One day the illusion that the $ is a safe haven will shatter. My money is on bank bail-ins.
|
|
|
|
Beliathon
|
|
September 24, 2014, 12:28:46 PM |
|
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.
|
|
|
|
Mr Tea
|
|
September 24, 2014, 12:33:12 PM |
|
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.
|
|
|
|
CryptoCarmen
Member
Offline
Activity: 84
Merit: 10
★Bitin.io★ - Instant Exchange
|
|
September 24, 2014, 12:36:25 PM |
|
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?
|
|
|
|
Beliathon
|
|
September 24, 2014, 12:47:55 PM |
|
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.
|
|
|
|
BillyBobZorton
Legendary
Offline
Activity: 1204
Merit: 1028
|
|
September 24, 2014, 12:49:17 PM |
|
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.
|
|
|
|
zimmah
Legendary
Offline
Activity: 1106
Merit: 1005
|
|
September 24, 2014, 02:14:37 PM |
|
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.
|
|
|
|
Beliathon
|
|
September 24, 2014, 02:35:51 PM Last edit: September 24, 2014, 02:47:20 PM by Beliathon |
|
...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.
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
|
|
September 24, 2014, 10:10:07 PM |
|
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.
|
|
|
|
johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
|
|
September 24, 2014, 11:04:03 PM |
|
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
|
|
|
|
V8x8d
|
|
September 24, 2014, 11:13:33 PM |
|
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/
|
|
|
|
master-P
|
|
September 24, 2014, 11:14:56 PM |
|
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.
|
|
|
|
spazzdla
Legendary
Offline
Activity: 1722
Merit: 1000
|
|
September 24, 2014, 11:35:17 PM |
|
You don't know if it's not. One buys then launches the price up.
|
|
|
|
tondaS
|
|
September 24, 2014, 11:40:54 PM |
|
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
|
|
|
|
Whtwabbit (OP)
|
|
September 24, 2014, 11:54:39 PM |
|
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..
|
██████████ ██████████████████ ██████████████████████ ██████████████████████████ ████████████████████████████ ██████████████████████████████ ████████████████████████████████ ████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ████████████████████████████████ ██████████████ ██████████████ ████████████████████████████ ██████████████████████████ ██████████████████████ ██████████████████ ██████████ Monero
|
| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
|
| | |
|
|
|
snappa4ever
|
|
September 25, 2014, 12:19:37 AM |
|
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 Hyperinflation is actually pretty rare. Even more so in the industrialized world. With the exception of the last 5ish years interest earned on bank deposits would earn all of, if not more then the amount "lost" from inflation. Billionaires are hoarding cash because there are not investments that carry an appropriate level of risk and expected return.
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
|
|
September 25, 2014, 12:46:12 AM |
|
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 Hyperinflation is actually pretty rare. Even more so in the industrialized world. With the exception of the last 5ish years interest earned on bank deposits would earn all of, if not more then the amount "lost" from inflation. Billionaires are hoarding cash because there are not investments that carry an appropriate level of risk and expected return. ... as you can clearly see fiat money is a huge CONfidence game. If a certain 0.000033 % decided over a short period that US dollar "cash" holdings would be devaluing, then they would ... drastically. As it is right now those holdings are losing value due to negative real interest rates. The US Federal Reserve Dollar has become the biggest Ponzi scheme the world has ever known and in the process gutted the real, productive economy.
|
|
|
|
Adamcheek
|
|
September 25, 2014, 06:04:13 AM |
|
Wow that sure is impressive... damn I wish I could have that.
Then I could stop gambling for a few bucks everyday
|
|
|
|
btcxyzzz
Legendary
Offline
Activity: 888
Merit: 1000
Monero - secure, private and untraceable currency.
|
|
September 25, 2014, 06:41:20 AM |
|
Be great if some of this money started flowing into Bitcoin
Been questioning myself for a long time now, why it's not happening already. It's too illogic.
|
|
|
|
V8x8d
|
|
September 25, 2014, 09:35:26 AM |
|
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.. I find it disgusting that they are stealing our Gold. It's no wonder the FED and BOE won't audit their gold reserves. The shock will be that the West has no Gold. When official unemployment figures are less that 6.5% and the official inflation rate is above 2% for consecutive months get out of Western Fiat currency and into hard assets (plus Bitcoin), as interest rates hikes will plunge us into the abyss.
|
|
|
|
|
TrailingComet
|
|
September 25, 2014, 12:47:21 PM |
|
Great fortunes are made through concentrated risk, they are kept through diversification On that basis alone, I doubt too many of them will do much more than maybe dabble
|
|
|
|
vipgelsi
Legendary
Offline
Activity: 1736
Merit: 1001
|
|
September 25, 2014, 12:49:27 PM |
|
If this happens the sky is the limit lol.
|
|
|
|
CryptoCarmen
Member
Offline
Activity: 84
Merit: 10
★Bitin.io★ - Instant Exchange
|
|
September 25, 2014, 12:59:50 PM |
|
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. billionaires should be prohibited by law and all put in prisons for life time.
|
|
|
|
bornil267645
|
|
September 25, 2014, 01:38:05 PM |
|
If only I could become a billionaire...
|
|
|
|
Ruthful
|
|
September 25, 2014, 03:51:04 PM |
|
billionaires should be prohibited by law and all put in prisons for life time.
Unless they're us ,right?
|
|
|
|
malexls
Member
Offline
Activity: 120
Merit: 10
|
|
September 25, 2014, 04:24:57 PM |
|
$600m where and how
|
|
|
|
CryptoCarmen
Member
Offline
Activity: 84
Merit: 10
★Bitin.io★ - Instant Exchange
|
|
September 25, 2014, 08:44:48 PM |
|
billionaires should be prohibited by law and all put in prisons for life time.
Unless they're us ,right? no excuses. I would gladly be billionaire and be imprisoned. since would buy my way out anyway.
|
|
|
|
Meuh6879
Legendary
Offline
Activity: 1512
Merit: 1011
|
|
September 25, 2014, 09:07:08 PM |
|
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.
well ... no. I don't want that my bank freeze my account for a ball-in ... that it legal in my country since december 2013. bitcoin is as fast as paypal, now to withdrawn with services like this : https://www.coinhouse.io/faq (pay in bitcoin, receive a virtual number in credit card to pay = 6% of fee)
|
|
|
|
Whtwabbit (OP)
|
|
September 26, 2014, 01:28:00 AM |
|
|
██████████ ██████████████████ ██████████████████████ ██████████████████████████ ████████████████████████████ ██████████████████████████████ ████████████████████████████████ ████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ████████████████████████████████ ██████████████ ██████████████ ████████████████████████████ ██████████████████████████ ██████████████████████ ██████████████████ ██████████ Monero
|
| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
|
| | |
|
|
|
Ruthful
|
|
September 26, 2014, 08:40:04 AM |
|
billionaires should be prohibited by law and all put in prisons for life time.
Unless they're us ,right? no excuses. I would gladly be billionaire and be imprisoned. since would buy my way out anyway. So basically , the price of being highly successful at what you do( even if it's legal) is imprisonment and you're okay with that.And in order to get released they must surrender a portion of their wealth to the government (beats taxing everyone ,I suppose).Seems legit. I'm totally with you . A government that blindly jails innocent just for being amazing at making money does seems very utopian to me too.
|
|
|
|
poelling92
Legendary
Offline
Activity: 994
Merit: 1002
|
|
September 26, 2014, 09:32:53 AM |
|
Hopefully for them they hoarding the cash and not just number in bank account. When it goes wrong they can at least use the paper to generate heat in winter days. But hopefully it can last few more generations, I have some cash as well
|
|
|
|
CryptoCarmen
Member
Offline
Activity: 84
Merit: 10
★Bitin.io★ - Instant Exchange
|
|
September 26, 2014, 12:24:59 PM |
|
Switzerland have way to many billionaires.
|
|
|
|
neurotypical
|
|
September 26, 2014, 01:04:12 PM |
|
Switzerland have way to many billionaires.
It's ridiculous and really fishy how that small land has gathered so much money, I dont believe for a second there isn't something else going on.
|
|
|
|
fryarminer
|
|
September 27, 2014, 04:39:46 AM |
|
It must be a mental disorder to have that much money. Seriously, and I don't mean it offensively. The level of obsession has definitely got to be passed after a certain point, where you have more money than you could possibly spend in your lifetime, and yet you still continue to hoard as if you do not have enough.
Where is the joy or pleasure in that? It is an obsession - a disorder.
|
|
|
|
Ruthful
|
|
September 27, 2014, 06:28:17 AM |
|
Where is the joy or pleasure in that? It is an obsession - a disorder.
The same can be said about things like skydiving ,adventure seeking,hardcore gaming, book reading or even quilting and gardening.Unless you share their passion you'll probably never understand the drive behind them, why they seek more , new avenues/experience and why people strive to be better at it. On another note, reading this thread seems strolling the vineyard of sour grapes.
|
|
|
|
SHA255
Member
Offline
Activity: 72
Merit: 10
|
|
September 27, 2014, 07:21:24 PM |
|
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.
Just because they have enough money for themselves does not mean they do not want to invest what they have to create more wealth (potentially to leave to their heirs, or to give to charity when they die).
|
|
|
|
l3sny
|
|
September 27, 2014, 08:51:26 PM |
|
just wait for the banks clamping their accounts
|
▄▄▓▓█▓▓█▀▀▀▀█▓▓██▓▄▄ ▄▓█▓▀ ▀▓█▓█ ▄▓█▓ ▄▄▄▓▓▓▓▓▓▄▄▄ ▀█▓▄ ▄▓██ ▄▓▓██████████████▓▓▄ ██▓▄ ▓██ ▓▓████████▓▀▀██████████▓ ██▓ ▓█░ █▓█████▓▀ ▓██ ▓██ ▀▓▓█████▓ ▓▓ ▓█ ▓█████▀ ▄▓▓██████▓▓▓▄ ▓████▓ ██ ▓██ █████▓ ▄▓▓ ▄██░▐███▄ ▀▓▓ ░▓███▓ ██▓ ██ █████ █▓ ▓████░▐████▓█ █▓ ░█████ ██ ██ ▐████ ▐█ ▓█████░▐██████░ █▌ █████ ██░ ██ ▐████ ▐██ ▓█████░▐█████▓ █▓ ░█████ ██░ ██ ████▓ █▓█ ▀▓▓██░▐██▓▓ █▓ ▓████ ██ ▐█▓ ░████▓▄ ▀▓▓▄▄██░▐███▄▓▓ █▓████░ ██▌ ▐██ ▓████▓▄▄ ▀██░▐███ ▄▓▓████▓░ ██▓ ▐█▓ █▓██████▓▓██████▓▓████████ ▐█▓ ▐█▓▄ ▀▓██████████████████▓▀ ▄▓██ ▐█▓▄ ▀▀▓▓████████▓▓▀▀ ▄▓██ ▓██▄ ▄█▓▓▀ ▀▓█▓▓▄▄ ▄▄▓▓█▓▀ ▀▀▓▓██████▓▓▀▀ | | ██ ██ ██ ██ ██ ██ ██ | | ██ ██ ██ ██ ██ ██ ██ | .Social Media.
| . ,▄▄▄▄▄▄▄ ▄████▀▀▀▀████▄ ▄███` ,▄▄, ▀██▄ ▐██▀ ▄███████ ██▌ ,▄███ ████████▌ ▐██▄, ,▄███████▄ █▄▄██▄▄█ ▄███████▄▄ ██████████████████████████████████, ▐████▌ ██████████████████ ▐█████ ▀████▄▄████████▀ "████████▄▄████▀ `▀████████████▄▄████████████▀▀ '▀▀▀▀▀█████████▀▀▀▀ ▄▄ ▄▄ ███ ▄▄⌐ ███ ███ ██▌ ▀██ ███ ██▌ ▀██ ██▌ |
|
|
|
ziiiggy
Newbie
Offline
Activity: 40
Merit: 0
|
|
September 28, 2014, 01:33:25 PM |
|
Cant believe there are more billionaires in Hong Kong than Singapore.
|
|
|
|
|