Do you think Bitcoin is distributed rightly among generations?

dlhezter

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Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

like for you questions "distributed rightly among generations". i thin since the bitcoin has a only one CEO, it will distributed right, but if this CEO / company change their leader boards after generations, i think if that time comes the, there were be a "money thirty" people shows at their company and the distribution on this wealth become wrong in a way that they want to do.

r1973

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Quote from: talkbitcoin on September 19, 2017, 05:32:17 AM

Quote from: r1973 on September 19, 2017, 05:25:53 AM

Quote from: talkbitcoin on September 19, 2017, 05:21:18 AM

let me put it this way for you:
what are you looking for in bitcoin?
more profit on your fiat? or using a decentralized currency and reach financial freedom?

what you asked is the first one "more profit on your fiat" to that i say, you have to suck it up. those people in 2008 and early days that got bitcoin for free are early adopters who believe in bitcoin's future and you didn't.

if it is the second one (although your comments say otherwise) then your main question becomes meaningless! if you want to benefit from using bitcoin then its price wouldn't matter at all.

I am a holder for pension or early retirment from (fiat/crypto) work in 10-20 years time - for me and my brother.

then you are a long term investor looking for the profit.
in that case as i said you (and other new people like you. me included) we have to suck it up. we obviously have lost a big chunk of the rise so far but it is nowhere near the end of the rise.

the same way we are now looking at $1000 (9 months ago) price with regret, others will do the same at the current price of nearly $4000 with regret in 9 months in the future.

you say that the rise in value will continue (as collective convincing OTHER people to buy bitcoin at higher price), and it might not be so. What will people gain from buying a 100K$ worth one bitcoin? What would be the logic of that?

talkbitcoin

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All I know is that I know nothing.

Quote from: r1973 on September 19, 2017, 05:25:53 AM

Quote from: talkbitcoin on September 19, 2017, 05:21:18 AM

let me put it this way for you:
what are you looking for in bitcoin?
more profit on your fiat? or using a decentralized currency and reach financial freedom?

what you asked is the first one "more profit on your fiat" to that i say, you have to suck it up. those people in 2008 and early days that got bitcoin for free are early adopters who believe in bitcoin's future and you didn't.

if it is the second one (although your comments say otherwise) then your main question becomes meaningless! if you want to benefit from using bitcoin then its price wouldn't matter at all.

I am a holder for pension or early retirment from (fiat/crypto) work in 10-20 years time - for me and my brother.

then you are a long term investor looking for the profit.
in that case as i said you (and other new people like you. me included) we have to suck it up. we obviously have lost a big chunk of the rise so far but it is nowhere near the end of the rise.

the same way we are now looking at $1000 (9 months ago) price with regret, others will do the same at the current price of nearly $4000 with regret in 9 months in the future.

r1973

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Activity: 191

Merit: 100

Quote from: talkbitcoin on September 19, 2017, 05:21:18 AM

let me put it this way for you:
what are you looking for in bitcoin?
more profit on your fiat? or using a decentralized currency and reach financial freedom?

what you asked is the first one "more profit on your fiat" to that i say, you have to suck it up. those people in 2008 and early days that got bitcoin for free are early adopters who believe in bitcoin's future and you didn't.

if it is the second one (although your comments say otherwise) then your main question becomes meaningless! if you want to benefit from using bitcoin then its price wouldn't matter at all.

I am a holder for pension or early retirment from (fiat/crypto) work in 10-20 years time - for me and my brother.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

let me put it this way for you:
what are you looking for in bitcoin?
more profit on your fiat? or using a decentralized currency and reach financial freedom?

what you asked is the first one "more profit on your fiat" to that i say, you have to suck it up. those people in 2008 and early days that got bitcoin for free are early adopters who believe in bitcoin's future and you didn't.

if it is the second one (although your comments say otherwise) then your main question becomes meaningless! if you want to benefit from using bitcoin then its price wouldn't matter at all.

r1973

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Activity: 191

Merit: 100

Quote from: krishnapramod on September 19, 2017, 05:10:59 AM

Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

It is not about unfair/selfish, it is about adoption. A new technology/innovation has five types of adopters, innovators, early adopters, early majority, late majority, and laggards. You take any scenario, be it new tech assets, startups, emerging markets and corporate products, the innovators and early adopters have a substantial advantage because they were quick enough to understand the potential behind it and took a major risk by adopting an unproven technology/innovation.

Quote

Some early adopters have large numbers of bitcoins because they took risks and invested time and resources in an unproven technology that was hardly used by anyone and that was much harder to secure properly. Many early adopters spent large numbers of bitcoins quite a few times before they became valuable or bought only small amounts and didn't make huge gains. There is no guarantee that the price of a bitcoin will increase or drop. This is very similar to investing in an early startup that can either gain value through its usefulness and popularity, or just never break through. Bitcoin is still in its infancy, and it has been designed with a very long-term view; it is hard to imagine how it could be less biased towards early adopters, and today's users may or may not be the early adopters of tomorrow.

Bitcoin is divisible up to 8 decimal units, it can be further changed if need arises. The last Bitcoin would be mined around 2140, still enough room for everyone to adopt.

https://bitcoin.org/en/faq#doesnt-bitcoin-unfairly-benefit-early-adopters

https://en.m.wikipedia.org/wiki/Technology_adoption_life_cycle

thanks

r1973

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My question is: Had bitcoin had a different block-reward and no halving, with a total of 21 million coins in 120 years - would that have made Bitcoin more widely adopted?

pearlmen

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Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

The same way those of us now are seeing the generations of those who came in early even though we equally have the same opportunity at the time to take actions but we either because of ignorance or unbelieving spirit decided to ignore. For the coming generations, they probably would have wished they came in at this time and we wont live only a planet full of negativity but also bitcoin which is the liberation for them to enjoy.

krishnapramod

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Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

It is not about unfair/selfish, it is about adoption. A new technology/innovation has five types of adopters, innovators, early adopters, early majority, late majority, and laggards. You take any scenario, be it new tech assets, startups, emerging markets and corporate products, the innovators and early adopters have a substantial advantage because they were quick enough to understand the potential behind it and took a major risk by adopting an unproven technology/innovation.

Quote

Some early adopters have large numbers of bitcoins because they took risks and invested time and resources in an unproven technology that was hardly used by anyone and that was much harder to secure properly. Many early adopters spent large numbers of bitcoins quite a few times before they became valuable or bought only small amounts and didn't make huge gains. There is no guarantee that the price of a bitcoin will increase or drop. This is very similar to investing in an early startup that can either gain value through its usefulness and popularity, or just never break through. Bitcoin is still in its infancy, and it has been designed with a very long-term view; it is hard to imagine how it could be less biased towards early adopters, and today's users may or may not be the early adopters of tomorrow.

Bitcoin is divisible up to 8 decimal units, it can be further changed if need arises. The last Bitcoin would be mined around 2140, still enough room for everyone to adopt.

https://bitcoin.org/en/faq#doesnt-bitcoin-unfairly-benefit-early-adopters

https://en.m.wikipedia.org/wiki/Technology_adoption_life_cycle

r1973

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Quote from: r1973 on September 19, 2017, 04:12:21 AM

what would the 2021, 2040 and 2074 generations think of us?

Why do you care?

[/quote]

These people will decide whether we, the holders, will have a pension or not.

pawel7777

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Quote from: r1973 on September 19, 2017, 05:02:53 AM

...why the ppl who bought at 3$ a coin keeps on telling OTHER people to "buy-and-hold" at 4000$. This is the way to make them filthy-rich?

I dunno, maybe for the same reason someone who bought at $0.50 told them to buy and hold at $3?

X years from now you could see posts like this:

Quote

...why the ppl who bought at 4,000$ a coin keeps on telling OTHER people to "buy-and-hold" at 20,000$. This is the way to make them filthy-rich?

pawel7777

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Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation...

You got any source for this? Sure, the small number of early adopters had a chance to accumulate significant amounts of cheap/free bitcoins (5 btc faucet etc) and there's nothing unfair with it. But it's been a long time since then and I'm guessing the distribution must have had changed a lot due to market speculation and weak-handed early adopters getting shaken off the market.

Quote from: r1973 on September 19, 2017, 04:12:21 AM

what would the 2021, 2040 and 2074 generations think of us?

Why do you care?

r1973

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Merit: 100

Quote from: DooMAD on September 19, 2017, 04:34:37 AM

Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

Probably something along the lines of:

"It's good there were some people back then who, despite the risks, stuck their middle fingers up to the banksters and governments of this world and helped fuel a
system that allowed the world to survive that last final financial crisis that wiped out all the remaining banks and nearly sent the world back into the dark ages".

Or at the very least they'd feel glad they have an alternative to a traditional finance sector that's pretty much on its last legs if it hasn't imploded spectacularly yet.

It's true, beautifully said. My rabbit-hole, which I don't understand, is why the ppl who bought at 3$ a coin keeps on telling OTHER people to "buy-and-hold" at 4000$. This is the way to make them filthy-rich?

MostHigh

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If we want to make a case for generations then what really matters is the option that this generation provided to the classic banks and the options on how to save and store your money. I think thats the main benefit that we need to look at as a society not what we stand to gain and what they wouldnt. If BTC will make the world a better place then am happy for that

DooMAD

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Leave no FUD unchallenged

Quote from: r1973 on September 19, 2017, 04:12:21 AM

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

Probably something along the lines of:

"It's good there were some people back then who, despite the risks, stuck their middle fingers up to the banksters and governments of this world and helped fuel a
system that allowed the world to survive that last final financial crisis that wiped out all the remaining banks and nearly sent the world back into the dark ages".

Or at the very least they'd feel glad they have an alternative to a traditional finance sector that's pretty much on its last legs if it hasn't imploded spectacularly yet.

r1973

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Activity: 191

Merit: 100

Is the noble bitcoin selfish in wealth distribution ?

The generations of 2009-2012 owns most the bitcoin wealth, to be followed by 2013-2017 generation... what would the 2021, 2040 and 2074 generations think of us?

Topic: Do you think Bitcoin is distributed rightly among generations? (Read 310 times)