Quote from: pontiacg5 on November 26, 2013, 08:53:38 PM

I don't much think it's fair that this guy has the opportunity to potentially become a quarter-millionaire while on the government cheese. I could easily liquidate all that I own and go "bitcoin poor" foodstamps and all, probably be a billionaire next year (still assuming your crazy "bitcoin never stops exponentially growing" scenario) Is that fair?

Liquidating all you own and going 'bitcoin poor' would be pretty foolish if you were talking about many years worth of accumulated assets. But a year or less worth of savings? In that case the time it would take you to recover from a bitcoin catastrophe would be less than a year. So that wouldn't be too bad. So it's a risk.

Just a few thoughts on the 'fairness' of someone on government assistance becoming rich. First, that's how many bankers and billionaires got to where they are. I suppose that's not fair either, but would rather give some help to the little guy. There is legal and not legal. In many states you are allowed to posses lots of assets and still get food stamps. It is just the income part that matters. If the dude on food stamps is being honest, but clever with finances, I don't think there is any thing wrong with that. Personally I would be very happy to see food stamp and welfare people all turn into investors, growing their wealth and providing a stable household for their children. Obviously at some point they are going to transition off state assistance, but cutting them off to early could stunt their social-economic rise. Most of us probably had a supportive parents, a good education, etc. If your parents had cut you off and kicked you out of the house when you were 12, you probably wouldn't be where you are today.

I think its good we help people to rise out of poverty, not just keep them fed and in poverty.

Quote from: kgo on November 26, 2013, 09:19:25 PM

It's $7000 more than you can have to be eligible for foodstamps, so it's not just a moral issue. It's fraud.

"Households may have $2,000 in countable resources, such as a bank account, or $3250 in countable resources if at least one person is age 60 or older, or is disabled."

http://www.fns.usda.gov/snap/eligibility

As I mentioned, it some states go about it differently. I agree, fraud is fraud. But if it is legal where they live, then they are being clever. If they continue to claim food stamps once they have $200k in bitcoins, I would feel differently about that. They would still be being legal and clever, but by the time they had $200k or so, I would hope they would start to think about giving back to society. I guess everyone has their own opinion of when that point comes, but if you think that boundary for financial stability is $9000, I think you don't understand basic costs of living.