Topic: cryptocurrencies and inequality (Read 273 times)

Crypto gives opportunity to everyone to be part of it,  what was not the situation before in investing.  You  need only to have 
internet connection and some capital. If you are doing some bounties you even do not need capital. Of course whales also
 want to be part of it and they have some advantages as the market is small and  can be easily manipulated.

I am pretty sure that the boom of new richies, are actually a form of wealth distribution. Smart people visionaries and people who believed in the new advancements of technology, such as the blockchain, acutlltualy had and still have a good opportunity of being rich, or making some good money, if not a large amount. You call that equality, not inequality

i'd say inequality here is not the real question. because with the usage of cryptocurrencies, no one is asking about your status in life, your education or your race. you can participate even you are a small time player. no one knows your identity unless you join a project with kyc. but in terms of trading, it's like a free country. no one will ever question your level of education nor in what ethnic tribe you are in. so i believe, inequality is not really a problem in the crypto community.

the idea is great..let's see how it unfolds

Usually new technology leaves behind the people who need it the most, the poor in society. That is why the Trufield project wants to put the poor at the center of the blockchain technology revolution. Join the Trufield project ICO that puts people at the core. Trufield will revolutionize healthcare for millions of by providing free health data management systems in poor developing countries. Contribute to the project and learn more here at https://Trufield.com or http://Trufield.io

Smart? Why you say not needed? Its very need. How people can choose something if they are just stupid? They will just follow people without doing research. I know in cryptocurrency, smart is not everything because we need to be lucky too but smart is also same important with lucky.

Equality and equity among people is one of the major reasons why the blockchain and its technology has become so appealing to everyone.
There is no perfect system without it flaws and one of those flaws that cryptocurrency faces is the issue of manipulation. However I believe with a few regulations still to come in order to make the crypto space safer for investors, this issue can be put in check.
I believe actions like gas wars and auction should not be encouraged during ICO  and people should be granted equal opportunity to participate in the token sales with other programs like Proof of love.

I think it has the potential to decrease inequality. In traditional securities, you need to be a sophisticated investor or institutional investor to be able to access many parts of the markets, particularly the high risk high reward markets. Vs in crypto anyone can trade, can buy whatever they want. Of course the flip side is that there are a lot of scams and you need to educate yourself in order to get a good coin but at least everyone has the opportunity to try. Investors who are not ultra rich are finally not shut out from a good financial opportunity

"But looking at how is the market now, with the whales that with their millions manipulate it as they want and set the terms, i'm thinking that again is the upper section of the population that's winning "

You got a point! Probably not the peeps who are praying for airdrops. 

If you just get rich with cryptocurrencies then it is because you are "lucky" not because you are smart.
Investing in cryptos doesnt require you to be smart, or just to have some techniques or knowledges or how to control your emotions, not even the market and the whole prices of it.
If you just invest in a coin because your uncle told you that it was going to be x10 tomorrow, and you invested and you became rich because of that, it is not because of you.
It is because you have been lucky and the destiny has decided to give you that profit.
Maybe you are right, it is inequal to everybody in here, but this is how it works.

I think that the crypt will be useful because people stalking with it will be something to study, watch, read, in a word, self-develop.

I can;t say it is creating inequalities because some people have this opportunities to invest in some projects but decided against it and don't forget people that have throw their weight against a project have risk their money too, so if the project failed they lose.

I dont really qualify for the upper segment in terms of finance but I am doing very well in this market. I'd say its more due to yourself, I had to learn a lot about this space and I was already learning about it before I bought my first coin for a year or so. I think that the inequality will be dealt with to some degree yes, there are plenty of projects where people who were financially excluded now have a chance to participate. I hear tons of succes stories of people starting out with very small amounts and making them into a fortune for themselves. But I also hear stories of people losing everything. I've stopped caring about financial inequality some while ago, don't get me wrong I just changed my perspective. A hundred years ago you would not really find people in Europe to have the same opportunity to people now have even without this cryptomarket and I think it goes for every country, I suspect that in a hundred years a lot of the countries that are currently heavily invested in industrial production will get a similar revolution to open up opportunity and a chance to a better life.

Looking back at these past few months I could have lost a lot of money if I didn't follow my strategy and goals. I think its also easy to be very shortsighted in this market when you can bag a lot of profits from day to day instead of admitting that it probably doesn't work out for you that well because you aren't that familiar with the market or TA or other things and try to buy stuff on the dip to hold for a longer period of time. I've started doing a bit of both.

If its wealth equality you're looking for then keep looking because capitalism and free markets eventually lead to wealth concentration. Can't say I agree but I've learned to not kick against it and instead learn how to benefit from it. The greatest wealth you can ever posses is knowledge and wisdom, money is just a by-product of that.

Hi

I have a question for you let's say with ' moral ' implications

The resources created with the boom in cryptocurrencies of these years , in your opinion, is increasing or decreasing the inequality between people?

In the first time i though that it could decrease it because it was bringing richness to that part of the population that invested so early when btc wassuper unknown, and they were like geeks and tech lovers, not the typical financial speculator person

But looking at how is the market now, with the whales that with their millions manipulate it as they want and set the terms, i'm thinking that again is the upper section of the population that's winning

Let me know what you think about it , i want to hear different opinions and i think that this question will decide if in the future cryptos are going to benefit the whole society or not