Do you think Billionaires should exist?

BlueSnow said:

It doesn't matter in this case do I consider your post a personal attack or not. What I'm saying is that if you are starting your post with "You don't know" you are actually losing attention from the person you are writing. I will go into the depth of that only if you insist. If you want to grab someone's attention starting with offensive sentences is not a very good idea Am I doing it right now? Yes. Sorry. But, maybe it's a good example.

Cryptocurrencies, altho the name can be misleading, are not just currencies. With crypto, you can be a shareholder of a company just by buying a particular currency (not Bitcoin). So you don't need anything else, no contracts, no minimum investment or anything else. Someone from Africa or Japan can buy for example 0.00001% or 100% of the ownership in some solar electricity company from South California, just by buying their tokens. Without hustle, without leaving their armchair, much more people will be investors. 5$ is just an example, what I've tried to say is that anyone will be able to invest, even some 18-year-old kid from Uzbekistan. There are many people that are not investors just because of its a hustle and pain in the ass and just don't like papers and lawyers and so on and is not cheap.

Let's say Google is worth 1T USD (just an example). All you need is 1T tokens, anyone can buy or sell those tokens on a free market. Anyone can buy 100% or 0.00000001% of the company and have adequate rights in participating in the management and everything is managed by smart contracts and that condition cannot be changed without turning off the internet in the entire world. It will be so easy to invest or sell companies or shares and get dividends.

I don't see Bitcoin as useless. Now it looks like useless only because of the scaling issue (transaction speed 4-5 tx per second is laughable for any business). But with scaling issues solved and it will happen in the next 5 years for sure (BTC or some other project it doesn't matter) maybe earlier, there will be no reason for fiat money anymore. All you will need is a smartphone to pay anything, to store any data without any risk of losing, deleting or changing anything. You can automate any paying process (like paying out dividends based on the per cent of shares you hold). BUT, most importantly, there will be no more reason for tax services to existing anymore. Tax will be paid with every transaction automatically. The Government will receive its share from every single transaction without moving a finger. All they need to do is to make a cryptocurrency and to apply smart contract that will execute everything automatically. They will not miss that opportunity. Why would they?

To return to the theme. So we have sociological and technical part of the issue. I'm more interested in the sociological part. With technical part is kinda hard to predict the exact outcome and I am not advocating that every billionaire should dump their money right now, without thinking through it. First, do no harm. But I believe that we need a good plan to get two extremes (hungry people and people with 1000 rooms houses) closer because it will benefit society as a whole so much and it ill be beneficial for both extremes.

But ultimately, in an ideal scenario, with 100% unselfish billionaires (lol) I am sure that with their resources and their power, with their abilities, they are able to find a good way to make the more healthy economy, more middle class-oriented and connected society. The first step would be for us and them to recognize the greed in holding assets just for themselves.

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MaggiePale said:

@splishsplash isn't 7 million per day enough? You'll be able to make enormous profit while your employees live a life worth living.

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CreateWealth said:

It is okay for them to exist, but why does an individual need one billion dollars or more?

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