Topic: Bitcoin Doesn’t Create Wealth Inequality (Read 386 times)

That is why we need to keep learning about cryptocurrency especially about bitcoin because that will help to gain more information and of course, a way of making money. I am sure when we can gain more information, that means we have another option to get to the right way to the wealth. But there is no instant way to reach wealthy, and we need to do hard work to reach the goals.

Never a mistake if one argue what is right. The price of Bitcoin has started rising and many are still waiting until it get down to $1000 before they secure their portion but that, will never going to happen, so, such an individual if he/she can't buy it later will accuse Bitcoin of not creating wealth equally. Buy Bitcoin now and have your chances secure.

If (A) and (B) bought $2000 worth of Bitcoin and i buy the same,then sell out the same time means: (A)  $2000 * 1000% and (B) $2000 * 1000%, simply means equal wealth if hold till bull run.

As clearly stated, Bitcoin doesn't create wealth inequality and not equality of opportunity. Lets look back to the early days of Bitcoin; where it was airdropped, wither "A" or "B" holds 20 of it or 0 of it, but was airdropped equally. As many that applied to the airdrop, they equally received the same Coins back then.

 And in few years; those without clear knowledge of Bitcoin potentials; misused their coins while others who believe on it potentials got the wealth equally 

Indeed. I would pretty much prefer the term "opportunity". These cryptocurrencies allowed different kinds of people, whether employed or not, student or not, young and old, to have a legitimate source of income. (I called it legit because of the accusations from some people that bitcoin or other crypto is a scam). They could just be sitting somewhere but still able to earn money through our beloved cryptos. It only needs enough knowledge and know-how in order to be engaged here. The world was never fair. And life itself is not fair as well. Rich people gets richer; poor people gets poorer. But despite that, the decentralized bitcoin and its successors made those less fortunate have a way of earning. Though not that big, the important thing is they have a means.

It takes a matured mind to appreciate how bitcoin works.  It would also be a mistake on the part of anyone to assume that bitcoin can create equal wealth in the world. The world has never been fair even before the introduction of the current monetary system.

Some has described about the opportunities people get through bitcoin. Here there is equality, and one who got skills can move forward easily. Apart from this we cannot find bitcoin take away inequality, because everyone runs for money and here it is no more an exception. Same as fiat one who has lot of fund afford it and earn good while the lower level of people can afford less.

I think you meant equality of opportunity, cryptocurrencies and dapps create lots of opportunities for those who can't have an access to different markets for many reasons. It is but partly because of lack of regulation.

I think that with Bitcoin is the same as with anything else that has material value. Bitcoin users are not equal and not all can afford the same amount because everyone has different financial potential. So I couldn't agree that Bitcoin doesn't create wealth inequality. Similar like with fiat not everyone has equal amount of funds.

Indeed, Possibly it created wealth equally in its earlier stage but will not agree on that now, haven adopted  by many investors, Bitcoin has been know and be use for many purposes that, is unable to create equal wealth. The rich can buy 20 to 100 Bitcoin why the poor cannot, so, many point still remains that, Bitcoin now doestn't create wealth equally.

Yes, bitcoin has made the people who the society condemned to be slave to financial instability millionaires. The returns that has come to bitcoin earliest investors and even later investors is something the current banking system can never ever achieve from generation to generation. Bitcoin is freedom.

The opinion of the OP could have been true during the early years of bitcoin, I mean between 2008 and 2010. But currently, bitcoin creates wealth inequality. It is mainly those who have big money bags that can make huge and profitable investment with bitcoin. These are also the same category of people who dictates the pace of the market or the direction it swings.

Not even Satoshi knew Bitcoin was going to be this big from inception let alone those who bought it at launch. It was a fun experiment for them back then. I believe the phenomenal that attracted more interest to Bitcoin as time went by was the blockchain tech it has and a lot of people felt they could leverage on that for other benefits. This has remained truthful till date in accounting and economics. My point is that Bitcoin wasn't worthy or useful from the beginning. Otherwise, the 10,000btc for pizza wouldn't have happened.

That's my point and many of these contributors are wagering around the initial point of my post. 

Maybe in the earlier days it could've got developed from a simple computer protocol. While one thing come to existence it won't easily preferred by the user community. One who made a buy earlier believing in it have turned wealthy. While we now examine the affordability it is possible with the one who bought in the early days as well the one with huge funds. In simple terms it served as a wealth generator and further the same got to be way for inequality.

I don`t want to earn money, I want to earn fair money.

https://en.wikipedia.org/wiki/Strike_action
You know how teachers go on strike, government shuts down and goes on strike, or other unions
http://cafta.org/agri-food-exports/
Imagine the farmers go on strike, it would not last very long, I mean u guys  

That would be amazing 

o nice it will be 9 billion jobs in 20 years.
" YES WE CAN "
https://www.youtube.com/watch?v=wuverFFZHmY

Wealth equality you say! well, that also means it can help the third world country like Zimbabwe and India(ignoring the ban) to grow in their economic conditions. I have already seen many people trying to understand these digital coins but are getting scammed. maybe we should help them get to know what digital coins really are.

You`re missing the point in thinking that you can`t make 1 time token, mike token or yakamoto token equal to 1 hour of time and that all tokens that are created with the same supply from different people verified having one account could be that single token, it is named yakamoto coin while it is in your wallet or yakamoto time while it is in your wallet, it is named mikecoin when it is in my wallet or mike time. be we accept that each token no matter whos wallet it is in, is a universal time token.

Your token system has absolutely no tangible benefit aside from acting like a time-based welfare system, or something along those lines.

or stopping people from printing unlimited amounts of their coin
or making a fair starting for all or equal distribution over time to all (instead of having other people print it we all do)
or stopping the debt were going into
or yah creating universal basic income before we are out of jobs (population is going up, amount of jobs due to robots/tech is going down) (self driving cars in 10 years actually elon just realsed one 2 days ago, 3% of the work force)
or for creating pools of money though tx, where the people vote where the tx goes, so as a united nation we could go to space have funding for garbage, military, public pools-schools-tools, etc etc
or for creating digital passports
or for creating decentralized voting a real democracy, why vote someone to vote for you?
or for 1000 other reasons I can list why it is better.
You want tangible? hows hands on voting? 7.2 billion jobs just created, that never end!

damn it would of been nice to vote on Justin Trudeau giving that private company 12 million $ of my tax fee
and paying for all the immigrants coming to my country to leach off the welfare system
nice I get to pay for Abdars 15 wives and 500 kids! that have the IQ of a peanut and will only end up leaching themselves!
This is super sustainable! we are building new land for more farming land to support these people in imagination land! Not building a Jenga tower that is going to fall because we don`t reinforce the bottom.