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RE: Cryptocurrency FUD Is Real And That Is Why It Is Going To Make Most Steemians Rich!!!

in #bitcoin7 years ago

I was not aware of the fact that the reward pool works like that. I always thought it was based on a fixed amount of SP, called inflation in the white paper.

But if I combine that with a large price increase and also whales+orcas powering down, there could indeed come a lot more people that get a very nice account value.

And for most Western counties you could say rich means at least $1mln. But for countries in Africa this amount would be much lower.

I prefer healthy and happy as definition of rich 😀

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Considering the saving rate is at an all time low in the western countries and wages havent really moved up in 20 years, I would say that rich is a much lower level since many cannot put their hands on any money.

This is a bit dated, but from what I can derive, the main premise hasnt changed much when the debt load of American, at least, is accounted for.

http://business.time.com/2011/06/01/nearly-half-of-americans-would-struggle-to-come-up-with-2k-in-30-days/

Since $2K is hard for almost 70% of the people, I would say $250K would be a major windfall for people. In fact, $100K is more money than they have in their retirement accounts according to the statistics.

So while the west appears richer than many other countries, the net is still the same...people are broke. They might not be starving like in 3rd world countries but they are far from getting ahead.

So I think even a few hundred in SP, at some point within the next 5 years, will be worth a couple hundred thousand dollars.

Hmzz things in Holland are neither very well for every one. But I think the average net income is around $2,500.

For my generation retirement will be a big question mark. But for people that are already retired, most of them have a few hundred thousands USD for their retirement. Some believe we have the best retirement system. I think there are some disadvantages, but compared to the rest of the world it's almost divine.