Do you think bitcoin redistributes wealth or just makes the wealthy richer? - page 3.

Zero504

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Quote from: Pan Troglodytes on August 10, 2018, 06:05:50 AM

Quote from: Vdh135 on August 09, 2018, 11:00:26 AM

You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.

Yes but who does all that mining, investing, trading and gambling? Maybe with the exception for the last activity, it is largely done by the wealthy of this world. Which proves the OP point, the resistribution will be very minor.

Crypto assets can run in two directions that you believe because they can run actively or passively, if we are active in short-term transactions, then wealth is the main goal, the opposite thing also happens for welfare where bitcoin always experiences a huge price increase and still in the path of initial fluctuations that will continue to develop.

Gabb

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Quote from: francojon on January 09, 2018, 05:17:29 PM

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Of course, I believe that bitcoin's contribution to a fairer distribution of wealth becomes clear when we learn about the large number of new rich people that have emerged thanks to the opportunities to generate large incomes that the volatility of bitcoin has generated. For my part, I can give testimony of the great poverty in which I lived most of my life, and that thanks to bitcoin has been left far behind to give rise to a financially consolidated life.

jaysabi

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Quote from: TIDOVEE on August 02, 2018, 10:24:46 PM

Bitcoin is not only for the wealthy. The poor can make bitcoin without a dime as long as he or she has the devices and internet around.with the bounty campaign one will make what is good enough to make one wealthy,if the poor is wise.bitcoin is actually a golden opportunity to distribute wealth if one can catch it.

No poor people are getting rich off bitcoin, and bitcoin doesn't redistribute wealth. "Redistribute" by the very nature of the word means wealth is taken from people who have it and given it to people who don't. Bitcoin doesn't do this. Wealth redistribution also is not a passive happening, you can't just expect a set of non-interventionist circumstances to redistribute wealth. Redistribution requires an active, intentional act and this usually comes from the government through taxation and welfare programs. As for poor people, they're not getting rich off bitcoin, and on the off chance a very few of them do, it's not because the wealth was redistributed to them, it's because they owned an asset that became more valuable; essentially new wealth was created (and artificially if you ask me).

Pan Troglodytes

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Quote from: Vdh135 on August 09, 2018, 11:00:26 AM

You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.

Yes but who does all that mining, investing, trading and gambling? Maybe with the exception for the last activity, it is largely done by the wealthy of this world. Which proves the OP point, the resistribution will be very minor.

hispout

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Quote from: francojon on January 09, 2018, 05:17:29 PM

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Yes I believe there is, but when there are rich people losing, there are also poor people losing. This is a game of luck and it is not meant to favor only a particular group of persons, either they are poor or rich… it can favor anyone at all. All it takes is just to work hard, although the rich ones seems to be controlling everything because they are rich and mainly it ends up in favor of them.

Vdh135

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You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.

erzascarlet_30

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Well you won't get any bitcoin unless you do something or invest. Bitcoin is not free unless you do something. It will make the wealthy richer if they really know how to invest in crypto world but bitcoin makes the common become the richer in a blue moon if they hit the jackpot in the crypto world and i think bitcoin just circulates to everyone but it will still depend on what you are doing with bitcoins.

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People should never have the idea to become rich overnight by investing in bitcoin, one of the reason for creating bitcoin was to allow people to send money to each other at an affordable rates without paying a hefty bank transfer fees to the traditional banks, so I believe bitcoin actually redistributes wealth as it allows citizens of every country around the world to save more money while sending money to each other.

pat4cryptoreal

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The major reason bitcoin was invented was for this purpose but you can't force the poor masses to accept Bitcoin and key into this ocean of wealth. So the rich still get richer because they are the one that always easily grab opportunity.

thresher

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Quote from: checkmatesir on July 23, 2018, 01:25:39 PM

Quote from: Deathgamer on July 02, 2018, 06:13:35 AM

Well I think that bitcoin redistributes wealth because just like me,I am not wealthy but because of bitcoin I can be able to support my daily needs and have enough money for my future.I am so thankful that bitcoin came into my life because it really helps me financially.

To some extent it is right that poor people can also make money from cryptocurrency. It means that it is not only for rich people. Everyone can invest in it and can earn profits. By this way an average or poor person will also become rich. Bitcoin provides this opportunity to everyone and that’s the reason that you can say that bitcoin redistribute money.

I think that there is nothing about distribution of wealth because poor people cannot buy bitcoin because of the high price. You can say that Altcoin can play a vital role in distribution of wealth among the people. Everyone can make money from crypto investment, but bitcoin is not for poor people. Only rich people can buy and trade in bitcoin.

NeoMyHero

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Quote from: chibimanau on August 02, 2018, 11:48:53 PM

Quote from: Shanmatthew on 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.

Yes. Can bitcoin help rich people make more money. There are also many other ordinary people who are rich by investing and keeping bitcoin. Bitcoin is great as it offers greater opportunity and value for the people. Anyone want to make a profit thanks to the bitcoin investment, and accept a bit of risk.

I think that it has already provided so many opportunities to poor people to become rich, and I think there are a lot of such stories where poor people have become millionaire from bitcoin investment. I think still it is providing opportunities to poor people to invest some money in bitcoin and make to doubt or even triple in next few months.

bitcoinrays

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Quote from: Hallmader on August 02, 2018, 06:15:18 AM

Quote from: francojon on January 09, 2018, 05:17:29 PM

Just that... do you think there is any re-distribution effect at all due to bitcoin?

The problem is that it was mostly the rich who had the guts when Bitcoin was first introduced. There were a lot of ordinary folks of course who believed in Bitcoin when it was still very young. They are already millionaires today. But still I believe that the majority of early adopters were the rich and the advanced in terms of technology and the latest innovation. The poor are always trailing at the back when it comes to the newest developments of the world. Bitcoin offers no such thing as wealth re-distribution.

I think Bitcoin is not a toll to exercise the concept of redistribution of wealth. It is the government which is responsible for it and they collect taxes to do so. Now some countries like Norway have been doing great things with the tax money. Others like Kenya or Nigeria are lagging behind. Bitcoin gives you if you invest in it. And it can make anyone rich provided one goes wise in the crypto market. Also providing the employment opportunities is another benefit is has been known for.

gergfghfh

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I think BTC is redistributing wealth. Those who invest in bitcoin will become richer, some will become bankrupt. I just hope those who are investing in cryptos, they should learn very well. Do not take all the property to trade. Unforeseeable risks.

davinchi

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Quote from: alex3.alex03 on August 02, 2018, 04:41:45 AM

I think that bitcoin makes richer savvy people who are not afraid to take risks and catch the moment.

Well man I believe you’re correct, anyone who is dumb wouldn’t achieve anything in this, it’s only those that are hardworking and smart that will invest and use it the right way and also earn bigger profit. Those who are not smart, all they do is make mistake, and once they lose money they start looking for who to blame and say this is a fraud, quite funny.

You already know there are risks in this kind of job, so if you are investing and don’t want to lose all your money, then you better cut your loss as early as possible.

gamalzour

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Quote from: ShineftChaos on August 02, 2018, 04:49:55 AM

Quote from: alex3.alex03 on August 02, 2018, 04:41:45 AM

I think that bitcoin makes richer savvy people who are not afraid to take risks and catch the moment.

You can be rich if you are willing to take risk and that is the nature of life, cryptocurrency is a big help for everyone because in this way people will have more opportunity in their life.

Bravery is one of the important skill that works for you every time. Since your best efforts are to be appreciated, you must show some bravery element to achieve them thoroughly. When you are getting in something, people might afraid of the new environment and hence they lose taking big risks, but results are happy for only those who gets this done thought risk taking.

Maximo1

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Quote from: Rizky Aditya on August 03, 2018, 01:53:17 AM

Uuhm… there is a always an opportunity for the poor to get rich through Bitcoin, although some of them are not successful. There is just an opportunity for everyone but I believe that the rich are more opportune cause they can just manipulate the price and once it goes up they will withdraw (that is so evil and is not something people should be doing if they really want to help this community.

The opportunity is for everyone rich or poor to grab but we just need to have knowledge how to. Rich people had the advantage over the poor cause they had the resources to manipulate things they want. We are all here to gain profit honestly so every opportunity that comes with profit, everybody will grab.

Ayaah

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Quote from: francojon on January 09, 2018, 05:17:29 PM

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Yes, bitcoin gives us all opportunity to have a better life as to becomes wealthy but it depends our capacity also. Rich people are more advantages in gaining big amount of profits. Because they can afford to buy more coins as they wants. Unlike low level people they can buy coins with a minimal amount, and its depends the capacity of the amount of their money.

bohr

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Quote from: alex3.alex03 on August 02, 2018, 04:41:45 AM

I think that bitcoin makes richer savvy people who are not afraid to take risks and catch the moment.

That is completely correct, many people are not sure to invest in bitcoin because they are afraid about what it may happen but they do not realize that if they do not invest now they are going to let go one of the best opportunities they will have in their lifetime to become rich, I cannot wait for some decades to pass and then people begin to brag about when they got in bitcoin and most people talk about dates after 2020 while all the current member of the forum can give a date way before that.

Rizky Aditya

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Quote from: francojon on January 09, 2018, 05:17:29 PM

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Uuhm… there is a always an opportunity for the poor to get rich through Bitcoin, although some of them are not successful. There is just an opportunity for everyone but I believe that the rich are more opportune cause they can just manipulate the price and once it goes up they will withdraw (that is so evil and is not something people should be doing if they really want to help this community.

IanKaramazov

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Quote from: francojon on January 09, 2018, 05:17:29 PM

Just that... do you think there is any re-distribution effect at all due to bitcoin?

All the markets are supposed to be helping everyone to get wealthier but the fact is that noobs just lose their money and make the rich richer.
I would say, to all people out there, all you need to do is educate yourself a little so that you wont lose all your money for nothing which just make others rich.

Topic: Do you think bitcoin redistributes wealth or just makes the wealthy richer? - page 3. (Read 3813 times)