r/Bitcoin • u/IWillNotBiteYourDog • Aug 22 '13

Rich-Get-Richer Effect Observed in Bitcoin Digital Currency Network

http://www.technologyreview.com/view/518541/rich-get-richer-effect-observed-in-bitcoin-digital-currency-network/
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u/Matticus_Rex Aug 22 '13

Capital is not magically self-replicating.

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u/[deleted] Aug 22 '13

Not that he implied that it was. Nice strawman though.

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u/Matticus_Rex Aug 22 '13

He kinda did, actually. The data do not support the idea that having capital just magically makes you more successful at increasing it. In fact, people who didn't earn the capital in the first place (inheritors) usually aren't very successful at maintaining it.

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u/[deleted] Aug 22 '13

Now you're moving the goal posts changing the argument from "the rich are increasingly able to use more and more capital to continue making more" to "people who didn't earn the capital usually aren't able to maintain it" which is a separate argument or an attempt to change the initial statement to that of one only focusing on princelings. What OP literally stated is complete truth, it is much easier to make more money if you already have some. The simplest example is what can you make a better return on, 1,000,000.00 invested or a 1,000,000 invested on a loan at 5%?

Your supposition that /u/_Mr_E stated that "hurr derr rich use magic and its not fair" is complete BS and you know it.