bitcoin distribution - page 2. | Bitcointalksearch.org

erre

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Quote from: ?? on ??

Bitcoin distribution is not fair at all Sad

A lot people have less than 1 BTC, while some people have huge amount of BTC

But, i think it's right.
Because they have a lot of bitcoin with hard work, not stealing

Quote from: panju1 on October 15, 2014, 08:13:52 AM

Even if you had given all the people in this world 0.001 BTC on day 1, after a period of time the distribution of bitcoins would change and become 'unfair'.

That's right

I can't stop to think an inequality like that is not good, not inevitable, and not necessary at all...

researchers from the International Monetary Fund published work which indicated that income equality increased the duration of countries' economic growth spells more than free trade, low government corruption, foreign investment, or low foreign debt.[4]
http://en.m.wikipedia.org/wiki/Economic_inequality

erre

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Wealth could be not a zero-sum game if we consider the time variant, but sure it is during a single point in time: x resources for n people.
During a short time a large amount of bitcoin was distributed to satoshi and a few thousand first-world well-educated tech-saviours " visionaries" who knows about, for the cost of some hours of a standard pc work or, rarely, a few dollars.

Now the street man (not to mention the poors) have only the option to buy btc for hard-owned fiat, and he's constantly exposed to price manipulation by the " visionary" whales.

How can I consider btc a currency and not an investment if it vary its value of 10% overnight?

teukon

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Quote from: wangxinxi on October 15, 2014, 10:10:33 AM

Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich.

Are you suggesting that wealth is a zero-sum game?

zinger

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Quote from: jbrnt on October 16, 2014, 02:14:32 PM

Bitcoin is a currency, it is not about distribution or fairness. The distorted distribution is caused by capitalism, not by bitcoin itself.

I agree but is it necessary/a must? I mean capitalism, is it helpful for bitcoin too?

jbrnt

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Bitcoin is a currency, it is not about distribution or fairness. The distorted distribution is caused by capitalism, not by bitcoin itself.

odolvlobo

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Quote from: R2D221 on October 15, 2014, 09:38:11 AM

Quote from: erre on October 14, 2014, 08:20:35 AM

Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Though I agree that the distribution of bitcoins will eventually mirror the distribution of wealth, I don't believe that the current distribution has anything to do with it.

The people that currently have the most bitcoins are risk takers, entrepreneurs, visionaries, and nerds. The characteristic they have most in common is access to information and technology.

I also don't think the distribution of bticoins is unfair. Everyone that owns them paid for them with money or effort.

wangxinxi

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Founder & CEO of Coinut.com, Litecoin Core Dev

Quote from: pitham1 on October 16, 2014, 11:57:19 AM

Quote from: wangxinxi on October 15, 2014, 10:10:33 AM

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich.

I am sure implementation of tax laws with respect to bitcoin will get stringent very soon.

[/quote]

That's possible. But the government needs a better way to track the transactions.

pitham1

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Quote from: wangxinxi on October 15, 2014, 10:10:33 AM

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich.
[/quote]

I am sure implementation of tax laws with respect to bitcoin will get stringent very soon.

erre

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Every government in the world have some form of welfare, payed by taxes proportioned to wealth/income. That should be why btc distribution is bad even if compared to usd or eur.

If it was distributed fairly along the world, who knows? Surely every money (crypto of fiat) NEED a change in its distribution in order to work (people who pay, people who gain), and in an unfair world that would lead to an unfair distribution, but i think you would need ages for a filth like this to " naturally" happens.

I am surely a supporter of btc, but becausr i'm a supporter of a FREE ECONOMY. As now, btc is not an economy, it seems more a manipulated commodity.. it's lIke the 1% of people owned 50% of gold before a gold economy was even established ... There was maybe a btc economy linked to the black market, but as far as I know it's very tiny now.

wangxinxi

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Founder & CEO of Coinut.com, Litecoin Core Dev

Quote from: R2D221 on October 15, 2014, 10:23:46 AM

Quote from: wangxinxi on October 15, 2014, 10:10:33 AM

Quote from: R2D221 on October 15, 2014, 09:38:11 AM

Quote from: erre on October 14, 2014, 08:20:35 AM

Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich.

Are you saying that thanks to the government, we're not that poor? That's an odd point of view, considering at least the poverty of my own country, Mexico (home of the richest person in the world).

I don't know the situation in Mexico. But for China, even thought it's still a developing country, it still supports people who do not have a job or have really low income.

R2D221

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Quote from: wangxinxi on October 15, 2014, 10:10:33 AM

Quote from: R2D221 on October 15, 2014, 09:38:11 AM

Quote from: erre on October 14, 2014, 08:20:35 AM

Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich.

Are you saying that thanks to the government, we're not that poor? That's an odd point of view, considering at least the poverty of my own country, Mexico (home of the richest person in the world).

wangxinxi

hero member

Activity: 826

Merit: 1000

Founder & CEO of Coinut.com, Litecoin Core Dev

Quote from: R2D221 on October 15, 2014, 09:38:11 AM

Quote from: erre on October 14, 2014, 08:20:35 AM

Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich.

R2D221

hero member

Activity: 658

Merit: 500

Quote from: erre on October 14, 2014, 08:20:35 AM

Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.

This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people.

Turnkey

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Quote from: Unbelive on October 14, 2014, 08:15:16 AM

I think is same. top100 holders matter all the rest are peanuts.

If any of top100 holders fart, bitcoin price collapse.

yeah...when you see a list of big stake holders then there is always fear that someone might decide to dump it for fiat.

wangxinxi

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Activity: 826

Merit: 1000

Founder & CEO of Coinut.com, Litecoin Core Dev

It satisfies a power law distribution.

panju1

legendary

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Even if you had given all the people in this world 0.001 BTC on day 1, after a period of time the distribution of bitcoins would change and become 'unfair'.

DhaniBoy

sr. member

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I think the distribution of bitcoin far is less prevalent, just focus on one of the big collectors only, while the collector who received less small role in the distribution of bitcoin, bitcoin major collectors have a large number of bitcoin is not distributed properly, so that the capitalist bitcoin ensued, collecting besarpun monopoly on the case, so there is no difference between cryptocurrency currency with fiat currency of a country ... hopefully that bitcoin there can now be distributed properly .. Shocked

sed

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Quote from: erre on October 14, 2014, 08:20:35 AM

Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.

I don't think the distributions is "unfair" nor is it a matter of "design". It's quite fair as anyone who solves a block gets a substantial amount of btc no matter who that person is. The fact that early adopters have more is an accident of history, not the design of the btc.

AtheistAKASaneBrain

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Quote from: kutaka on October 14, 2014, 12:05:21 PM

Rich gets richer, poor gets poorer. Unfortunately, this is how the world works, and believe me, it will only get worse with time.

This is the fundamental for any economic system including Bitcoin. We are all just helping whales continue living like kinds while the rest of us have hopes of Bitcoin ever being high enough to at least retire us from the health destruction that is going to work. Let's all hope together.

MrBig

sr. member

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One of the reasons the BTC price is very volatile is because of it's distribution and the ability of large holders to easily affect the price due to their actions. They don't necessarily have to destroy the market by their actions, as one user noted above, but the volatility that comes with a few users controlling most of the coins is definitely not good for you average Joe who may be looking to purchase a coin or two and then losing most of the value in a short period of time.

Topic: bitcoin distribution - page 2. (Read 4429 times)