Neither this nor that. Bitcoin makes anyone who investes in it and who is smart enough to know how and when to
invest wealthy. So it maybe redistributes wealth but also people who have more money will simply make more money.
Topic: Do you think bitcoin redistributes wealth or just makes the wealthy richer? - page 15. (Read 3797 times)
February 15, 2018, 03:55:14 PM
February 15, 2018, 01:34:47 PM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
Bitcoin doesn't redistribute wealth nor making the wealthy richer. Bitcoin needs to be worked for so that you can have it. Bitcoin can provide you wealth even if you are poorest person in the world if you have the hardwork. Bitcoin also gives us the opportunity to have wealth, chance for investments and to acquire assets.
February 15, 2018, 12:52:07 PM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
Bitcoin is not some sort of communist coin to distribute the wealth, if you want bitcoin work for it, bitcoin in fact goes against that once you have a bitcoin unless you lose it by mistake no one can take that bitcoin away from you, if anything bitcoin is build against that idea, there are always going to be people with more wealth and as long as they obtained that wealth legally then they have all the right to preserve that wealth to themselves and their loved ones. February 15, 2018, 11:37:27 AM
For me it's not a total redistribution of wealth, I think the better term is Bitcoin is giving people an equal opportunity to earn and have a better financial status in life. It is definitely not for all, it requires knowledge, skills, patience and hardwork so it is still depends on the person and how much he wants to have financial freedom.
February 15, 2018, 07:38:48 AM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
One thing that cryptocurrencies have done is give the average person a chance to get in on something at the beginning that has potential to make us wealthy. We don’t have to rely on stock brokers or Wall Street investments where they have the inside information that the average person doesn’t have. Cryptocurrencies gave us a head start over the banks this time.
February 15, 2018, 07:17:50 AM
I do not think there is a solid answer here.
This question demands the worst answer - "Depends"
It really depends how you are looking at the situation.
Making the wealthy richer This is true at two levels.
- People who can afford to build huge machines to mine coins, will be rewarded with more coins.
- People who can afford to buy more, get more rewards (if the price goes up). This is true for investments in general.
Redistribution of wealth
- Bitcoin allows people in countries under an oppressive government to keep their wealth safe. This is redistribution in the sense that it is not controlled by the government
- Bitcoin now allows easy flow of transactions across borders. Now, i can do some freelancing as a developer for a client on the other side of the globe without losing half the earnings in wire transfers
- People can invest in Bitcoin even if they are not accredited investors. This allows a person with modest investments to take part in what would be otherwise considered a risky investment.
This question demands the worst answer - "Depends"
It really depends how you are looking at the situation.
Making the wealthy richer This is true at two levels.
- People who can afford to build huge machines to mine coins, will be rewarded with more coins.
- People who can afford to buy more, get more rewards (if the price goes up). This is true for investments in general.
Redistribution of wealth
- Bitcoin allows people in countries under an oppressive government to keep their wealth safe. This is redistribution in the sense that it is not controlled by the government
- Bitcoin now allows easy flow of transactions across borders. Now, i can do some freelancing as a developer for a client on the other side of the globe without losing half the earnings in wire transfers
- People can invest in Bitcoin even if they are not accredited investors. This allows a person with modest investments to take part in what would be otherwise considered a risky investment.
February 15, 2018, 07:11:05 AM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
One thing that cryptocurrencies have done is give the average person a chance to get in on something at the beginning that has potential to make us wealthy. We don’t have to rely on stock brokers or Wall Street investments where they have the inside information that the average person doesn’t have. Cryptocurrencies gave us a head start over the banks this time.
February 10, 2018, 02:25:40 AM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
Well as what i can observe, it pretty sure distributes wealth among other people. Just like my normal students, my friends and other co-workers they really benefit from it. They are not that rich but they are completely changed in terms of financial status.
February 09, 2018, 04:56:01 PM
My opinion, i think both and both. The rich take advantage of the opportunity to buy with their wealth and the poor can have the opportunity to not invest but could participate in bounty campaigns and be paid in bitcoins or altcoins which later they can trade for bitcoin. I am a witness of some poor people who had starting from zero in bitcoin but now are multi-millionares.
February 09, 2018, 04:11:23 PM
Not quite, because the rich can purchase more Bitcoins than the poor. They can buy more mining power, and so on.
February 09, 2018, 03:39:45 PM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
Bitcoin is not a means of redistributing wealth. It is a currency and an investment asset. The Cryptocurrency allows as well as rich to become even richer, and not to the rich people to earn moneyBut even if it is a currency, which it is not, and an investment, or rather a speculative asset, this is how it works in practice. Bitcoin is a zero-sum game as far as wealth is concerned, so it is a means for redistributing wealth by its very definition. You can gain wealth through it only by taking it from someone else, there is no third option. You win, someone loses, here's the epitome of wealth redistribution.
February 09, 2018, 12:36:55 PM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
Bitcoin cant be blame if everyone who are already rich gets richer and some people lives in the same way.The person is the one who creates his or her future.They are the one who are going to decide what kind of life and what decisions they are going to make.Like in selling bitcoins, if they seen its price good then they are going to sell it but if they have doubt then they will not.Wise decisioning is what needed.
February 09, 2018, 02:45:06 AM
I think, both. It redistribute wealth to those person who had engaged themselves here starting with nothing, and got to gain everything, then it make wealthy richer, since they already had a background in invesment and handling money for long term matters.
No, I think that is only making everyone richer. It is not the concept of whether it is helping someone from scratch or someone wealthy is using it for their own concerns. No this is not like it. Bitcoins are there for everyone. Every wealthy man is using for his earning, and every poor man is working on them to get a better income from bitcoins. So this is all about the hard work, chances are same. February 06, 2018, 01:07:14 PM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
Bitcoin is not a means of redistributing wealth. It is a currency and an investment asset. The Cryptocurrency allows as well as rich to become even richer, and not to the rich people to earn money February 06, 2018, 12:25:07 PM
Ofcourse bitcoin works it redistributes wealth to those who are wealtier but for the one richer to be wealthy needs extraordinary skill, smart steps with some more passion. Over all bitcoin uplift to both segments as well as to common man and to the wealthier, richer.
February 06, 2018, 11:40:42 AM
I think bitcoin does richer than clever people, it is possible to carry a part of the rich and a part of poor people to them.
February 06, 2018, 10:10:22 AM
The Bitcoin (labeled by many as smoke and bubble) today, despite not having established itself as currency, has left in its path new rich. Yes, people who either bet as we have said or even some who just out of curiosity and when the currency was practically worthless loaded their wallet and today they find that they have $ 1,000,000. Today Bitcoin sounds in the media and while it is still not used massively it is no longer smoke or speculation, and if it were and tomorrow is worth $ 1, it has already left many people with thousands of dollars in their wallets. In fact, I could say that I know several kids who bought themselves "just in case" a good gamer machine and, in passing, they mined that today they have the necessary coins to buy a high-end car. Bitcoin is perhaps the biggest revolution the Internet brought after the Internet itself. It may not be the winner (even if you have all the ballots seriously) but you do have most of the characteristics that a decentralized currency should have.
February 06, 2018, 02:53:04 AM
I think, both. It redistribute wealth to those person who had engaged themselves here starting with nothing, and got to gain everything, then it make wealthy richer, since they already had a background in invesment and handling money for long term matters.
February 06, 2018, 02:22:33 AM
If we look at it on a larger scale, those rich whales who have voluminous amount of bitcoin have become more rich even if a small rise of bitcoin's price. Yes we know that bitcoin is indeed the biggest wealth distribution of this time but i think those who are just small investors could hardly feel about wealth distribution by bitcoin taken place.
February 06, 2018, 01:23:07 AM
Just that... do you think there is any re-distribution effect at all due to bitcoin?
I think that cryptocurrency and bitcoin are able to redirect the problem of wealth into other people as well. It does not only gove more income to the rich but also gives opportunity to other clesses of society to be in charge of their own financial flexibility and spending by giving them the resources to do what they like. It giives them a chance to make themselves richer and try to be in the uooer class
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