The Millionaire Monopoly

in #wealth4 months ago

Hey Jessillionaires

We clearly have a serious issue with wealth inequality; the fiat money system has failed the majority of people with more millionaires and billionaires than we've ever seen, yes that is due to the absolute number of currency now available. Still, even so, if we divvy it up among the population, it's a small percentage of the world sitting on a vast majority of the world's wealth.

While we can argue about how currency is being used and host of other issues, what I have a big problem with the millionaire monopoly that it only gives a few people the ability to create goods and services for the rest of us.

Small businesses don't stand much of a chance; the ability to earn your way into millionaire status by pleasing the market and giving customers value is fast evaporating. You only have to look at YouTube to see how far we've fallen as a society, with so many people selling courses on how to get rich quick, getting rich on selling the courses but never actually creating a business that got them rich in the first place.

It's mind-numbingly stupid how we waste money in a fiat-based system; no one values money they want what money buys them, so we throw it around without a second thought because of its losing value and burning a while in our pockets.


Millenial millionaires

The ability for most of us to get funding for our business is getting slimmer, the ability to work your way to millionaire status is getting slimmer, wages don't keep pace, and only a select few are going to have business ideas that are scalable enough that investors will come on board.

Real estate, bonds and stocks are at all-time highs, so trying to get into these markets with the idea of getting rich is highly unlikely too. Which is why I firmly believe crypto needs to make more millionaires.

It's the only scalable solution we have that can actually turn people into millionaires in a short space of time. If we can create more millionaires in the younger generations, we give them capital that allows them to start businesses, to get on the property ladder, to take risks, pay off student debt, and give big business competition.

The distribution of millionaires

It's no secret that most millionaires and billionaires are from developed nations, while there are a few in developing nations, they're usually wealth extracted through government corruption and creating an oligarchy class and not through free selling of goods and services.

These oligarchs also suppress any competition for their market and maintain monopolies at the detriment of the people of their country. If crypto starts to make millionaires in countries in Africa, in South America, in South East Asia, it may help even the playing field.

Getting much-needed capital into parts of the world where labour and natural resources go untapped.

The fact is crypto millionaires are needed, not for Lambos, but to actually put the rest of the world to work. To bring new ideas to the market, to generate more efficacy, to tap into the potential of the humans that have been left behind by the debt-based fiat Ponzi system.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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It's no secret that most millionaires and billionaires are from developed nations, while there are a few in developing nations, they're usually wealth extracted through government corruption and creating an oligarchy class and not through free selling of goods and services.

I wouldn't look at these things from a different view... I know that it looks that corruption is like a plague in developing countries (and it probably is), but I wouldn't say that it's different in the "developed" countries... It is more-less the same, but it is "less visible"...

But, we have asked for globalization, which got us a monopoly, which leads to corruption... or it is in another way around... But, the results are the same... poor people are getting poorer, and rich people are getting richer...

And, I do agree that we need more "fresh blood" in millionaires worlds to shake a bit and distribute wealth to others... before they got hit by greed... :)

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I've never lived in a developed country so yeah it's pretty hard for me to discern what its like, how the business and government operate there but for sure that's my impression, that there's still some semblance of you can become a millionaire/billionaire without trampling others, but I don't know how true it is anymore

I have nothing against someone who made wealth, but if its through government help is that really value or just being in the right place. Is value even worth anything anymore?

I wonder if everyone had the same amount of money tomorrow, how quickly it would revert back to how it is now? Just from the culture, understanding of money relationships and needs. Would be a fascinating experiment lol

wealth extracted through government corruption
Very true, Rules and taxes for poor only.

These oligarchs also suppress any competition for their market.

Every big corporation tries to suppress or buy the small organization.
Blockchain is atleast able to track the corruption bringing more distribition of wealth.

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I do hope it helps, even just a little bit with transparency there's just so much bs being thrown around that I feel we need more open info and dialogue, especially in finance both private and public. I think its not a silver bullet and humans will always find a way to cheat though

Small businesses are doomed to be put down forever and the big ones to make more and more profit controlling the supply, the price and indirectly people's preference.

The same families of oligarchs have made things spinning on this planet for decades and they will keep.doing that forever.

That's why they create crisis and recessions to.accumulate more and gain more control over us.

Crypto is playing an important role for the millenials have the eyes opened and the will to thrive in this mad society.

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I agree with you there, any bright spark that can compete is either crushed or bought over, or have to sell out to bigger companies if they want to get a piece of the action. It is literally impossible to bootstrap a company and just make a good product anymore if you're not backed you're fucked.

I do hope crypto can help, I don't want to be that guy that says crypto is the answer for everything but at this point, I don't know what could help small businesses and the little guy part from Bitcoin

I agree, Govt created monopolies make millionaires into billionaires.

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and then they complain that they need to be taxed and broken up and vilify them its such misdirection. They create them to have a villain to fight and point fingers to as the problem when in fact they are the problem

Real estate, bonds and stocks are at all-time highs

That's how I see it too, buyer beware at these prices!

The fact is crypto millionaires are needed, not for Lambos

I want a Lambo though, At first, I thought we had a new blockchain game with Monopoly.

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I don't see whats the point of Lambo other than wrecking your balance sheet, of course I don't care how others spend their money but for me all this HODL'ing needs to give me more than just a fast car to drive around in, I want to never have to worry about money EVER

I figure that if you can buy a Lambo you have all the money you need, TBH I would rather have a few classics instead.

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Yeah I mean if the Lambo money is say less than 10% of your money sure, but If its like 50-80% just to get the car lol, that would be silly. I honestly don't know what I would buy if I was lambo wealthy lol, I'm so out of touch with these things

I think you can rent them in Vegas, I guess that would be a better approach if we are not billionaires.

but If its like 50-80% just to get the car lol,

Or God for bid to go in debt for one!

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As we keep developing technologically it is "natural" that we gonna have different ways that people become millionaires and such. To be precise though if we take in general the millionaires and billionaires of all the times many of those earned that money by taking advantage of the others. Although we tend to see cryptos as more decentralized and such (which they are) how many cases of scammers do we have? how many people earned by taking advantage of others in this crypto world.

The good thing though is that crypto can open up new horizons and can lead to a society that is more freely and with brand new ideas about making us better as a whole!

At the end of the day it all come down to us as individuals!

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I would love to see crypto change the lives of many. In all honesty I think we all want to be rich enough that we never have to worry about money ever again. The month to month living is crap and that is what I would like to see change eventually.

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