Author Topic: What would recommend your bum-friend to do with $1000?  (Read 2493 times)

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Offline fuzzy

Re: What would recommend your bum-friend to do with $1000?
« Reply #15 on: April 03, 2014, 08:15:35 am »
Seriously, no need to be embarrassed.  I respect you for taking the initiative to try to get where you want to be, and for having the courage to open yourself up honestly to advice.
100% on this message.  Being open can screw you sometimes, but the friends you make when you are real with them are as real of friends as you are going to get. 

If I were you (seems like you put sex-worker in there for a reason), I'd go work as a server at a strip joint or something...you COULD strip, but then you'd have to rub yourself up against most anyone who came in and wanted to hand you cash.  In this case, I'd imagine some dude walking in and being like "hey there little prairie dog, lets go dig some random holes!"...I'd personally rather serve that dude a drink and get 50% of what the dude rubbing his ass on him all night gets. 

Secondly, delivering pizzas is a badass gig...if you work in the right areas.  I used to deliver and it was probably one of the best jobs ever with respect to personal freedom while on the job.   I mean I pretty much just listened to political news or whatever other informational programs I could download on my cell (it was and HTC Diamond Touch--so pretty far back) while I drove around and delivered stuff to people.  Right now, if each delivery gave an average of $3, you could purchase one bitShares PTS token for every two deliveries.  If you work a 4 hour part-time shift (easy to get), take 8-10 deliveries over that timeframe, and each delivery takes 15-20 minutes...you are looking at approximately 6-8 bitShares PTS per part-time shift.  Over the course of a few months, you will have a pretty hefty little chunk.  And the best thing of all about delivering is that when the shop gets CRAZY and the management is all running around bitching and stressing everyone out, you just go in and grab your stuff, double check for accuracy and get the hell back in your car. :D



You cherish money more than your own time. Money is a form of stored time. You are wealthy with time, but your time has modest value. The jobs you've had were simple exchanges of time for money. It appears you have not put effort into making your time worth more money (by education or trust development).

Think of what you would enjoy. If you do what you enjoy then you can develop your strengths. If what you do is of service to others then people will reward you. You say you are pleased with ideas that will get you to stop thinking about your situation. That is a search for relief, not joy. Relief from discomfort isn't likely to grow to strength. You are depressed and looking for ideas. You can sense that a change must come, make it a positive change. Can't think of what you truly enjoy? I suggest looking for a way to help the people around you. Give of yourself. You are wealthy with time to give. If you can save people time then they often want to reward you with money. Once you start a process of giving then you'll learn what brings you joy and money will flow to you naturally.

What can you do with the $1000? Not much. You likely owe more than that to others. Don't let the money be your primary concern. The wealth you need to develop is in your time.

I wish you the best.

@Liberty, I MISSED YOU MAN!  Hadn't seen a post from you in quite some time (though maybe you were just posting in threads I wasn't frequenting). 
« Last Edit: April 03, 2014, 08:21:26 am by fuznuts »
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Offline luckybit

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Re: What would recommend your bum-friend to do with $1000?
« Reply #16 on: April 05, 2014, 04:48:04 pm »
Hi, please help a brother. I am not a bad guy, always friendly but not good in mathematics.

I have:

- $1000
- Around 80 AGS
- A room paid by the government (welfare)
- Free electricity (up to $100 a month)
- Debts
- A lot of time
- A bank account with online banking
- Atom netbook

I don't have

- Education
- A job
- The strength to keep a (dead end) job
- More than $240 per month (food, etc.)
- Anyone who would borrow me money
- The body for sexwork
- The option to get a credit from the bank


If you could give me some ideas on what you would do with the 1000 Dollares I would be very happy because I am sitting alone at home and my head is hot from thinking too much.

I did already everything. Pizza delivery, wheelchair mechanics, telephone operator, selling carpets, video shop, work agencies, waiting, cleaning, basking, writing, taking care of old people, selling fruits.

I dream of $500 income for doing "nothing" like mining or so. That's why I bought PTS. The thing is I am a bit worried because I can see all the people donating so much money into BitShares, and I am just a little fish who later only gets $10 dividents. Thanks all!

1. Figure out what skills you have.
2. Figure out what skills you don't have but think you need to have.
3. Figure out what you need to learn to develop these skills.
4. Figure out what is wrong with the world and take active steps toward fixing it.
5. Determine the best use of your time. Prioritize.

$1000 may not seem like a lot of money but if you invest it right it could be life changing. More important than the $1000 is that you have time. Your strengths are another persons weakness.

The good news is you're around some of the smartest people in the world who are working on the solutions rather than contributing to the problem. If you have 80 AGS then one thing you could do to bring value to your 80 AGS is tell your friends to buy AGS themselves. Even if it's some small amount of it, as you can see with Bitcoin even the smallest amount could be worth a lot in 5 years.

Probably the best thing you could do is identify a problem that only you can understand from your position in society. Then learn as much as you can about the problem, about DACs, and come up with a DAC which can help others in the exact same situation you find yourself in. Since there are probably millions of people living as you do and these numbers can be expected to grow there are a lot of potential DACs which could service people.

A concept you might want to look at is the for profit charity. That is something you would be in a good position to start or be involved with. This charity could be crowd funded and be designated as a DAC which helps to get people out of poverty.

Part of the problem I see is that there aren't a lot of for profit charities so the charity funding runs out. The other part of the problem is when there are for profit charities you usually end up with corruption involved. If the software being developed works as intended there will be opportunities to start for profit charities, which for instance build houses for the homeless as an example while simultaneously offering a lottery or another services.

Unlike the corporate models of today, you can set it up so that profit beyond a certain threshold goes directly to charity instead of to dividends. Think of it as a cap on dividends where if it goes beyond that point the rest goes to charity.

I would say him to buy at least 1 BTC with his 1000$. By 2020 he sould be fine financially.

Why tell him to invest in BTC? He should invest in BTS or BitBTC when the time is right.


« Last Edit: April 05, 2014, 05:05:24 pm by luckybit »
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Offline fuzzy

Re: What would recommend your bum-friend to do with $1000?
« Reply #17 on: April 06, 2014, 08:14:45 pm »
Hi, please help a brother. I am not a bad guy, always friendly but not good in mathematics.

I have:

- $1000
- Around 80 AGS
- A room paid by the government (welfare)
- Free electricity (up to $100 a month)
- Debts
- A lot of time
- A bank account with online banking
- Atom netbook

I don't have

- Education
- A job
- The strength to keep a (dead end) job
- More than $240 per month (food, etc.)
- Anyone who would borrow me money
- The body for sexwork
- The option to get a credit from the bank


If you could give me some ideas on what you would do with the 1000 Dollares I would be very happy because I am sitting alone at home and my head is hot from thinking too much.

I did already everything. Pizza delivery, wheelchair mechanics, telephone operator, selling carpets, video shop, work agencies, waiting, cleaning, basking, writing, taking care of old people, selling fruits.

I dream of $500 income for doing "nothing" like mining or so. That's why I bought PTS. The thing is I am a bit worried because I can see all the people donating so much money into BitShares, and I am just a little fish who later only gets $10 dividents. Thanks all!

1. Figure out what skills you have.
2. Figure out what skills you don't have but think you need to have.
3. Figure out what you need to learn to develop these skills.
4. Figure out what is wrong with the world and take active steps toward fixing it.
5. Determine the best use of your time. Prioritize.

$1000 may not seem like a lot of money but if you invest it right it could be life changing. More important than the $1000 is that you have time. Your strengths are another persons weakness.

The good news is you're around some of the smartest people in the world who are working on the solutions rather than contributing to the problem. If you have 80 AGS then one thing you could do to bring value to your 80 AGS is tell your friends to buy AGS themselves. Even if it's some small amount of it, as you can see with Bitcoin even the smallest amount could be worth a lot in 5 years.

Probably the best thing you could do is identify a problem that only you can understand from your position in society. Then learn as much as you can about the problem, about DACs, and come up with a DAC which can help others in the exact same situation you find yourself in. Since there are probably millions of people living as you do and these numbers can be expected to grow there are a lot of potential DACs which could service people.

A concept you might want to look at is the for profit charity. That is something you would be in a good position to start or be involved with. This charity could be crowd funded and be designated as a DAC which helps to get people out of poverty.

Part of the problem I see is that there aren't a lot of for profit charities so the charity funding runs out. The other part of the problem is when there are for profit charities you usually end up with corruption involved. If the software being developed works as intended there will be opportunities to start for profit charities, which for instance build houses for the homeless as an example while simultaneously offering a lottery or another services.

Unlike the corporate models of today, you can set it up so that profit beyond a certain threshold goes directly to charity instead of to dividends. Think of it as a cap on dividends where if it goes beyond that point the rest goes to charity.

I would say him to buy at least 1 BTC with his 1000$. By 2020 he sould be fine financially.

Why tell him to invest in BTC? He should invest in BTS or BitBTC when the time is right.

I personally would not expect investments to pan out.  The only investments you can have even close to a guaranteed ROI is investments in yourself and investments in people you trust. 
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

merockstar

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Re: What would recommend your bum-friend to do with $1000?
« Reply #18 on: April 07, 2014, 02:22:16 am »
All of this motivational self-improvement talk is nice and motivating, but it fails to address what the guy is really asking.

Guy, nobody is going to give you good investment advice for free.

Why? Are people just dicks?

No.

Well yes, but that's not the reason why they won't offer you investment advice for your one grand.

I'm in a similar position to you except I'm a wage slave instead of drawing social security, same difference really though, I make enough to barely scrape by and end up being able to only put the little bit that I am able to hustle up on the side into these kinds of things. Having so little to invest means one has to put ALOT of careful thought into where they invest it.

So why won't people help?

Because anybody with good intentions wouldn't tell you to where to invest. It's something you really have to figure out for yourself, so you can be responsible for your own losses should your investment tank. Nobody wants to shoulder the burden of being the guy who told you to invest your thousand dollars in Xcoin right before it tanks, at least, nobody with good intentions.

What does leave? People with vested interests who are motivated to convince people to invest in whatever they hold. Obviously you can't trust those opinions, because they're biased.

So here are my biased opinions, and why I decided to form them. You should learn about these things for yourself though.

Bitcoin - The next highest marketcap for a crypto is still like 1/15 of bitcoin's (not counting ripple). With so much riding on it, more people are motivated to make bitcoin succeed than any other cryptocurrency. It has the most infrastructure already in place, and if a crypto were to go viral tomorrow, it would likely be the one just because of precedence. That's not to say that it can't supplanted easily enough, if the right app goes viral, or a more empowered community get behind a different crypto for whatever reason, that's totally a possibility, but so far Bitcoin is arguably the safest (most likely to see increased demand in the near future) investment for your money.

Peercoin - Proof of Stake makes sense to me. In a world where crypto has supplanted the dollar, I see peercoin serving as something of the crypto equivalent to a saving's account. If you don't spend them, you get about one percent back a year from minting proof of stake. Meanwhile, the fixed transaction fee, which will become significant when ppc gains value, would prevent people from using the currency for frivolous spendings. But when they do spend, that fee gets destroyed instead of going back to miners. So the destroyed transaction fees balance out the new money coming in from proof of stake minting. This creates an equilibrium. When too many people horde their money, much more of it gets created from stake, and without fees getting destroyed it loses value from the inflation, giving holders motivation to spend some and destroy some fees. Then when people go spend crazy, it destroys fees, and therefore supply, causing prices to go up motivating people to save more. Because it's not being used for a flajillion little spammy transactions, and because proof-of-stake reduces the need for traditional mining, this makes it the most enironmentally friendly coin I know about. A perfect backbone currency. For buying bread, the same developer made Primecoin, which uses the PoW necessary for a flajillion spammy transactions to also discover prime number chains. Together the two coins create a more environmentally friendly two sided approach: energy reduction (peercoin), and energy multi-use (primecoin).

Bitshares-PTS - Well... I think you know about this one. DACs have the potential to change the way we do business. And angelshares prevent me from being tempted to sell my investment for cigarettes from CVS. That's why I view them as good for people like us who caught the ass end of the social stratum. Anyone who tells you never to invest more than you can afford to lose is someone who can afford to lose something-- the truth is you'll never get ahead in life without taking a little bit of risk.

Those are pretty much the ones I feel strongly about.

By the way, you don't need to justify your position in life to anybody here. Had any of these people caught your circumstances, they'd probably be in the same exact situation give or take a little bit of success. Anyone who would judge you for whatever it is that makes it difficult for you to work just lacks the imagination to fathom the reasons that this might be so, possibly because they come from a more prosperous era where jobs were so abundant and gainful that there was no excuse for not providing for one's self, and they carry these outdated judgements into modern times. Or maybe its because they are so rigidly narrow minded that they were taught one way to live, provided with the means to achieve it, and completely fail to even want to understand how anybody else's life could be different. The fact that those people have to live in their own minds, and that they'll miss out on so much life has to offer for their one sided approach, is punishment enough for them that you can just safely ignore them and feel sorry for them.

Offline fuzzy

Re: What would recommend your bum-friend to do with $1000?
« Reply #19 on: April 08, 2014, 06:25:17 am »
All of this motivational self-improvement talk is nice and motivating, but it fails to address what the guy is really asking.

Guy, nobody is going to give you good investment advice for free.

Why? Are people just dicks?

No.

Well yes, but that's not the reason why they won't offer you investment advice for your one grand.

I'm in a similar position to you except I'm a wage slave instead of drawing social security, same difference really though, I make enough to barely scrape by and end up being able to only put the little bit that I am able to hustle up on the side into these kinds of things. Having so little to invest means one has to put ALOT of careful thought into where they invest it.

So why won't people help?

Because anybody with good intentions wouldn't tell you to where to invest. It's something you really have to figure out for yourself, so you can be responsible for your own losses should your investment tank. Nobody wants to shoulder the burden of being the guy who told you to invest your thousand dollars in Xcoin right before it tanks, at least, nobody with good intentions.

What does leave? People with vested interests who are motivated to convince people to invest in whatever they hold. Obviously you can't trust those opinions, because they're biased.

So here are my biased opinions, and why I decided to form them. You should learn about these things for yourself though.

Bitcoin - The next highest marketcap for a crypto is still like 1/15 of bitcoin's (not counting ripple). With so much riding on it, more people are motivated to make bitcoin succeed than any other cryptocurrency. It has the most infrastructure already in place, and if a crypto were to go viral tomorrow, it would likely be the one just because of precedence. That's not to say that it can't supplanted easily enough, if the right app goes viral, or a more empowered community get behind a different crypto for whatever reason, that's totally a possibility, but so far Bitcoin is arguably the safest (most likely to see increased demand in the near future) investment for your money.

Peercoin - Proof of Stake makes sense to me. In a world where crypto has supplanted the dollar, I see peercoin serving as something of the crypto equivalent to a saving's account. If you don't spend them, you get about one percent back a year from minting proof of stake. Meanwhile, the fixed transaction fee, which will become significant when ppc gains value, would prevent people from using the currency for frivolous spendings. But when they do spend, that fee gets destroyed instead of going back to miners. So the destroyed transaction fees balance out the new money coming in from proof of stake minting. This creates an equilibrium. When too many people horde their money, much more of it gets created from stake, and without fees getting destroyed it loses value from the inflation, giving holders motivation to spend some and destroy some fees. Then when people go spend crazy, it destroys fees, and therefore supply, causing prices to go up motivating people to save more. Because it's not being used for a flajillion little spammy transactions, and because proof-of-stake reduces the need for traditional mining, this makes it the most enironmentally friendly coin I know about. A perfect backbone currency. For buying bread, the same developer made Primecoin, which uses the PoW necessary for a flajillion spammy transactions to also discover prime number chains. Together the two coins create a more environmentally friendly two sided approach: energy reduction (peercoin), and energy multi-use (primecoin).

Bitshares-PTS - Well... I think you know about this one. DACs have the potential to change the way we do business. And angelshares prevent me from being tempted to sell my investment for cigarettes from CVS. That's why I view them as good for people like us who caught the ass end of the social stratum. Anyone who tells you never to invest more than you can afford to lose is someone who can afford to lose something-- the truth is you'll never get ahead in life without taking a little bit of risk.

Those are pretty much the ones I feel strongly about.

By the way, you don't need to justify your position in life to anybody here. Had any of these people caught your circumstances, they'd probably be in the same exact situation give or take a little bit of success. Anyone who would judge you for whatever it is that makes it difficult for you to work just lacks the imagination to fathom the reasons that this might be so, possibly because they come from a more prosperous era where jobs were so abundant and gainful that there was no excuse for not providing for one's self, and they carry these outdated judgements into modern times. Or maybe its because they are so rigidly narrow minded that they were taught one way to live, provided with the means to achieve it, and completely fail to even want to understand how anybody else's life could be different. The fact that those people have to live in their own minds, and that they'll miss out on so much life has to offer for their one sided approach, is punishment enough for them that you can just safely ignore them and feel sorry for them.

 +5%
really...to all of it. 
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Offline BldSwtTrs

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Re: What would recommend your bum-friend to do with $1000?
« Reply #20 on: April 09, 2014, 03:52:47 pm »
I would say him to buy at least 1 BTC with his 1000$. By 2020 he sould be fine financially.

Why tell him to invest in BTC? He should invest in BTS or BitBTC when the time is right.
BTS is highly speculative, BTC isn't. BTC is the surest way to become really rich. BTC is by far the core position in my cryptoportfolio, I would give him an advice that I follow for myself.

Offline JakeThePanda

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Re: What would recommend your bum-friend to do with $1000?
« Reply #21 on: April 09, 2014, 04:07:15 pm »
If I were you I would invest that $1k in myself and not in crypto.  Invest it wisely in yourself and you can buy all the crypto you want later.  I could be wrong, but you seem to be more concerned with what you can get in life with no effort or what others can give you for nothing. If you spend more time thinking about what you can do for yourself, everything else in life takes care of itself.  I apologize if I'm misunderstanding you.  Good luck!

38PTSWarrior

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Re: What would recommend your bum-friend to do with $1000?
« Reply #22 on: April 10, 2014, 03:00:04 am »
I was praying today. I was speaking quietly not only thinking and told "god" about the stages of my life. I found out that what happened to me has happened and that I cannot change it. What counts is that I do what I know is good for me and that nobody else can help me (understand) who did not have the same experiences.

The believe in myself, my self, was hidden under a layer. This layer was brought to me from outside through violence, unfairness, ignorance.
It was brought through standardization, where people with individual needs get driven over. Where "97 percent" pass without major damage and the rest is falling through even hte constitution says that minorities have to be protected and so on and so on.

The good thing is, I am still there and stronger than ever. When I started this thread it was not about investing. On the surface it was. It was about making a last time the behaviour I was making because of broken heart. What happens if you belong to the "3 percent" and lose the believe in yourself. Even start to believe what others tell you what you are. Reaching out in the hope for help, not knowing that the answers lie within me. This is now over. I am free again. Took me some years.

I am sure others will get good info from this, like I did from all your replies. Let's continue. I wish you the best from my heart.




Offline fuzzy

Re: What would recommend your bum-friend to do with $1000?
« Reply #23 on: April 10, 2014, 11:23:31 am »
I would say him to buy at least 1 BTC with his 1000$. By 2020 he sould be fine financially.

Why tell him to invest in BTC? He should invest in BTS or BitBTC when the time is right.
BTS is highly speculative, BTC isn't. BTC is the surest way to become really rich. BTC is by far the core position in my cryptoportfolio, I would give him an advice that I follow for myself.

I sincerely disagree.  There is great potential for Bitcoin's value to drop heavily as new communities form around other "altcoins"--especially ones with vision (like BTS).  Bitcoin is a highly centralizing force now and mining equipment, aside from being expensive, serves only to create a new block of "elites" who rule over the rest of those who did not get the first-mover's advantage. 

Add onto this the IRS ruling and their taxation of coins mined into existence, and you begin to see a scene that begins to look a whole lot like the banking cartels did...only 2.0.  This does not bode well for Bitcoin's price moving forward...as long as the communities are honest with themselves and do not let greed override their own good sense.  We must remember not all "profit" can be quantified with numbers...sometimes it is worth far more to us individually to sacrifice the numbers on a screen for something of substance in the real world.  That is where true value grows organically and self-perpetuates. 

I personally only buy Bitcoin so I can invest in Angelshares, nxt, peercoin and other projects that make me believe we can change the world for the better.  If I lose "money" in the end, but the infrastructure enables the production of free energy, near-free food production and freely shared entertainment...then I say f the money---I'll be richer than I've ever known!

Far better to be a citizen in a world of plenty than a King in a World of Ash.
« Last Edit: April 10, 2014, 11:27:45 am by fuznuts »
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Offline BldSwtTrs

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Re: What would recommend your bum-friend to do with $1000?
« Reply #24 on: April 11, 2014, 04:54:05 pm »
I would say him to buy at least 1 BTC with his 1000$. By 2020 he sould be fine financially.

Why tell him to invest in BTC? He should invest in BTS or BitBTC when the time is right.
BTS is highly speculative, BTC isn't. BTC is the surest way to become really rich. BTC is by far the core position in my cryptoportfolio, I would give him an advice that I follow for myself.

I sincerely disagree.  There is great potential for Bitcoin's value to drop heavily as new communities form around other "altcoins"--especially ones with vision (like BTS).  Bitcoin is a highly centralizing force now and mining equipment, aside from being expensive, serves only to create a new block of "elites" who rule over the rest of those who did not get the first-mover's advantage. 

Add onto this the IRS ruling and their taxation of coins mined into existence, and you begin to see a scene that begins to look a whole lot like the banking cartels did...only 2.0.  This does not bode well for Bitcoin's price moving forward...as long as the communities are honest with themselves and do not let greed override their own good sense.  We must remember not all "profit" can be quantified with numbers...sometimes it is worth far more to us individually to sacrifice the numbers on a screen for something of substance in the real world.  That is where true value grows organically and self-perpetuates. 

I personally only buy Bitcoin so I can invest in Angelshares, nxt, peercoin and other projects that make me believe we can change the world for the better.  If I lose "money" in the end, but the infrastructure enables the production of free energy, near-free food production and freely shared entertainment...then I say f the money---I'll be richer than I've ever known!

Far better to be a citizen in a world of plenty than a King in a World of Ash.
BTC isn't perfect and it's normal that wannabe competitors shed light on its shortcoming. But when you step back you see that BTC is still a wonderful force of freedom and will change the world for the better. How people in the cryptocommunity can end up downplaying Bitcoin is beyond me.

Also I don't understand how Bitcoin end up being associate with greed since Satoshi do what he did during his free time and probably destroy his keys, meanwhile every other altcoin developpers explain how they need incentives to make the world a better place.

The truth is their is no competition between Bitcoin and others. Others compete between themselves. Nobody will invent the currency of the future, the currency of the future was released on January 3rd, 2009. I think I3 have a shot to revolutionnize the world too, but it won't be by overthrowing BTC, but by making BTC better and more useful, and do stuff BTC can't do.
« Last Edit: April 11, 2014, 04:57:28 pm by BldSwtTrs »

Offline luckybit

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Re: What would recommend your bum-friend to do with $1000?
« Reply #25 on: April 27, 2014, 08:53:22 pm »
I would say him to buy at least 1 BTC with his 1000$. By 2020 he sould be fine financially.

Why tell him to invest in BTC? He should invest in BTS or BitBTC when the time is right.
BTS is highly speculative, BTC isn't. BTC is the surest way to become really rich. BTC is by far the core position in my cryptoportfolio, I would give him an advice that I follow for myself.

I sincerely disagree.  There is great potential for Bitcoin's value to drop heavily as new communities form around other "altcoins"--especially ones with vision (like BTS).  Bitcoin is a highly centralizing force now and mining equipment, aside from being expensive, serves only to create a new block of "elites" who rule over the rest of those who did not get the first-mover's advantage. 

Add onto this the IRS ruling and their taxation of coins mined into existence, and you begin to see a scene that begins to look a whole lot like the banking cartels did...only 2.0.  This does not bode well for Bitcoin's price moving forward...as long as the communities are honest with themselves and do not let greed override their own good sense.  We must remember not all "profit" can be quantified with numbers...sometimes it is worth far more to us individually to sacrifice the numbers on a screen for something of substance in the real world.  That is where true value grows organically and self-perpetuates. 

I personally only buy Bitcoin so I can invest in Angelshares, nxt, peercoin and other projects that make me believe we can change the world for the better.  If I lose "money" in the end, but the infrastructure enables the production of free energy, near-free food production and freely shared entertainment...then I say f the money---I'll be richer than I've ever known!

Far better to be a citizen in a world of plenty than a King in a World of Ash.
BTC isn't perfect and it's normal that wannabe competitors shed light on its shortcoming. But when you step back you see that BTC is still a wonderful force of freedom and will change the world for the better. How people in the cryptocommunity can end up downplaying Bitcoin is beyond me.

Also I don't understand how Bitcoin end up being associate with greed since Satoshi do what he did during his free time and probably destroy his keys, meanwhile every other altcoin developpers explain how they need incentives to make the world a better place.

The truth is their is no competition between Bitcoin and others. Others compete between themselves. Nobody will invent the currency of the future, the currency of the future was released on January 3rd, 2009. I think I3 have a shot to revolutionnize the world too, but it won't be by overthrowing BTC, but by making BTC better and more useful, and do stuff BTC can't do.

Investing in Bitcoin isn't likely to make you rich.

Bitcoin will certainly make you money and I don't deny that, but if you're trying to get rich from a $1000 investment then BTX is a better deal. You invest $1000 in Bitcoin and because it's inflationary you actually can lose your money.

The only way you would lose your money in Bitshares is if certain aspects are never implemented. What about the interest on BitAssets? Did you forget about that?

What about the ability to short Bitcoin when the bad news from China appears? You rather have your money in Bitcoin at this time? If Bitshares were functioning right now we'd all be making money shorting Bitcoin. Because BitBTC pays interest and Bitcoin does not, the most rational BitAsset to buy if you want to go long on Bitcoin is BitBTC.

You don't buy Bitcoin when Bitshares is a superior technology. Bitcoin is just a currency and it's not going to make anyone rich except the people who bought in at under $10. Putting $1000 into Bitcoin when a Bitcoin is $400-500 means he would only have 2 Bitcoins.

Do you really see 2 Bitcoins becoming 2 million dollars quicker than Bitshares? Angelshares? Do you believe that 1 Bitcoin will be a million dollars?

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Also I don't understand how Bitcoin end up being associate with greed since Satoshi do what he did during his free time and probably destroy his keys, meanwhile every other altcoin developpers explain how they need incentives to make the world a better place.

No one knows who Satoshi is, whether it's one person or a group, or what their motivations were. Satoshi could have been a millionaire with plenty of free time to make the world a better place.

Be realistic though, you aren't going to find a lot of homeless bums focused on making the world a better place and even if somehow they did focus on that they would be very ineffective.

My opinion is that anyone can make the world a better place no matter what their intentions were. They could do it because they needed the money, or because they hate the government, it simply does not make any difference to me. What matters to me is the outcome.

Would you rather a person with good intentions who makes the world into a dystopia? People are motivated by whatever they happen to be motivated by. If a scientist invents the light bulb because he wanted to get laid then he still invented the light bulb.

At this point in time I do see a lot of greed. It's not so much greed of the Bitcoin core developers (although many of them have plenty of Bitcoins already and don't need any more), it's actually greed of the miners and mining pools. You also have botnets, hackers stealing from exchanges, there is no denying that Bitcoin is centralizing around greed.

Decentralized greed in my opinion is better than centralized greed because with decentralized greed at least the opportunities to get rich and invent something great are spread to more people. When it's centralized greed the result could be the same few people taking credit for every innovation. Some altchain developer could have invented something new to pay his rent and some elite Bitcoin developer could simply take the invention and add it to Bitcoin.

That's great for the people who have thousands of Bitcoins but not great for anyone else.
« Last Edit: April 27, 2014, 09:03:06 pm by luckybit »
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Offline liondani

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Re: What would recommend your bum-friend to do with $1000?
« Reply #26 on: April 27, 2014, 09:54:03 pm »
Just wanted to share it with you bro



and a song...
http://youtu.be/4X4nWVYnolk
« Last Edit: April 27, 2014, 09:57:24 pm by liondani »