Does Bitcoin increase wealth equality?

Semar Mesem

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Quote from: Levero on August 24, 2021, 03:34:12 AM

Bitcoin will not increase wealth equality.
The rich will have more opportunities to enter the crypto market, and they will use more funds to invest in bitcoin to gain more wealth.
Ordinary people will consider more risk losses and invest a small part of their funds. They may make a lot of profits through investment, but they will not narrow the gap between them and the rich.

Right, nothing has changed from the presence of bitcoin, the rich have a great opportunity because they are in a safe zone even though they lose money by investing in bitcoin, while the poor will always be afraid and don't have the budget to buy bitcoin so the presence of bitcoin can't reduce economic inequality.

Levero

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Bitcoin will not increase wealth equality.
The rich will have more opportunities to enter the crypto market, and they will use more funds to invest in bitcoin to gain more wealth.
Ordinary people will consider more risk losses and invest a small part of their funds. They may make a lot of profits through investment, but they will not narrow the gap between them and the rich.

Poker Player

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Quote from: BlackHatCoiner on August 16, 2021, 08:26:39 AM

Quote from: Poker Player on August 16, 2021, 07:39:27 AM

As for Bitcoin, those who keep saying it is a ponzi scheme or a scam don't deserve to enjoy its profits. Those who were early adopters, or mine Bitcoin, do deserve to enjoy them.

What's the requirement for someone to enjoy the profits of anything? If they agree with the way it works? If they insist on its usage? If they believe on it?

To invest their time and/or money in it.

Quote from: BlackHatCoiner on August 16, 2021, 08:26:39 AM

That very quoted sentence defines a Ponzi supporter's perspective, rather than one's who see things objectively.

Don't be surprised if I don't answer you in the future, because it's not the first time you answer me in angry way, and I don't know if you're normal like that or if you've taken a dislike to me but I'm not going to waste a lot of time with those ways.

For starters, if you are going to comment on the ponzi scheme, you might as well post the entire quote.

Who is the one handing out the objectivity membership cards, you?

Quote from: BlackHatCoiner on August 16, 2021, 08:26:39 AM

I get that you support Bitcoin, but you should allow valid criticism.

And who says I don't allow valid criticism, you, again? The one who hands out the objectivity membership cards?

Quote from: BlackHatCoiner on August 16, 2021, 08:26:39 AM

There are lots of signs that make Bitcoin look like a pyramid. There also arguments why it isn't a Ponzi. If you ask me, I can't consider it a Ponzi unless we consider other things we've agreed they're not, like old age pension.

In pension, the “new investors” pay the “old investors” so that they can also get paid in the future. Also, if the system stops having “new investors”, it corrupts. Should we also consider that a Ponzi scheme and characterize it illegal?

The Ponzi scheme has a very strict definition that makes you avoid considering everything in an economy a Ponzi. Some of them do, indeed, look like it, though; I can't deny it.

So what. I don't know why you are telling me this bullshit. You don't tell me anything I don't know.

Quote from: BlackHatCoiner on August 16, 2021, 08:26:39 AM

As for this:

Quote from: Poker Player on August 16, 2021, 07:39:27 AM

I am against wealth equality.

I'm not against wealth equality, because that would mean I'm against equality broadly. Though, I'm against regimes that dictate equality. That's what you probably meant too considering the fact that you mentioned Marx.

Yes, I meant that. It's the only thing out of everything you said that I agree with.

Rajamuda

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I hope that more and more ordinary people can also get to know bitcoin in various countries because of course Bitcoin can reduce poverty levels. This has indeed been proven to be equivalent to wealth or like a road to wealth from its users and for Bitcoin itself, it is more recognized and its role is increasing equal to wealth, we know that its popularity and enthusiasts are increasing from various circles, especially for rich peoples.

StanleyBoyle

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What you worry about will control you

At least since I came into contact with Bitcoin, I think that Bitcoin has indeed achieved a part of the redistribution of wealth.
Because like my uncle, who is about 55 years old, he has run several pizza restaurants for many years. The accumulated wealth is enough for them to live for another 300 years, but he is very stubborn.He doesn't think Bitcoin is an investment, he puts his money in the bank,But now that prices are rising so fast, interest can't beat inflation at all.
Decades of deep-rooted traditional ideas have shut him out of the door of Bitcoin.But my classmates have a very strong interest in Bitcoin and made huge profits. In this way, the drama of imperceptible wealth has changed.

nazmul30

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Currently those who are expecting bitcoin are the best. Because nowadays Bitcoin stands as a very popular coin. So now the demand is increasing day by day. And the chances of further growth in the future are much higher.

mojun7982

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The Standard Protocol - Solving Inflation

In order to become an effective tool even for the poorest in the world, Bitcoin has to improve on many ends. Speed and cost are just two things that must improve, but usability is also a big one because most of the very poor won't have a smart phone. Besides Bitcoin itself, other things like the Internet also has to improve especially in poor rural areas where Bitcoin could play a vital role. So there are a couple of things that need to improve in conjunction with Bitcoin in order to make it the tool some wish it to be already.

BOAEDAN

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does bitcoin increase bitcoin equivalence,? if in my personal opinion, bitcoin or others cannot increase wealth equality, but the presence of bitcoin has given me a bit of fresh air, because I already have savings for my family, even though I am a little grateful, because human nature always feels it's not enough, rich people who already have a lot of wealth, will still accumulate their wealth, even they don't want to share a little of their wealth with others, sometimes they even find it difficult to give their knowledge to us, that's human nature always feels not enough ...

maisao1991

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TheStandard

i still don't understand your problem but if you are talking about BTC rising and BTC hoarders from rich to poor become equal in value if BTC increases profits for middle class people then they may become richer but not everyone can hold until the BTC price reaches a high threshold, some will still sell it at a certain price that they consider a fair price to sell it.

Sir Legend

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Quote from: realcrypto on August 21, 2021, 05:38:53 PM

I can say yes Bitcoin really increased wealth equality. Early adopters or let's say investors can testify of this and even those strategically investing or trading Bitcoin presently can also achieve a certain level of wealth which would not be easily accessible to the poor masses if not through Bitcoin.

The presence of bitcoin provides an opportunity for anyone to be successful and rich, this will make the gap between rich and poor not far away, now the price of bitcoin is still cheap and poor people can buy bitcoin even for only $ 10, rest assured users will continue to increase and of course have an impact on the price will skyrocket.

Liamttw

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Bitcoin has changed the traditional financial method and provided the public with more investment and income opportunities.
Bitcoin's decentralization will not be controlled by any third-party system, and it can completely control the ownership of personal assets and realize the freedom of wealth.
Bitcoin has brought some opportunities for investors to get rich. Many new users see the benefits of Bitcoin and choose to invest in it. Long-term holding will make a lot of profits. It will also make rich people who have previously made a profit by investing in Bitcoin and holding them for a long time become richer. Bitcoin cannot achieve absolute wealth fairness, but it will enable more investors to achieve wealth freedom.

Rruchi man

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From the topic of OP, i will like to place emphasis first on the word "wealth" which is not to be mistaken with "riches".
One becomes wealthy when he has been able to sustain riches through investments and other ventures, it is not short lived. To be rich on the other hand is characterized by having money (if you can satisfy your 3 basic needs in life and have a bit more for some luxury, you are rich) it is definitely short lived without investment.

If you now substitute the real meaning of wealth into the main question, it becomes - Does bitcoin increase "sustainable riches" equality?

My answer is yes for the rich who were and will be wise to invest being that bitcoin and cryptocurrency has no end in view, i don't see a better definition of the word "sustainable". Bitcoin and cryptocurrency is the best investment option of the century.

Wawa2013

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Quote from: michellee on August 21, 2021, 10:38:58 AM

Quote from: Wawa2013 on August 21, 2021, 04:44:53 AM

Quote from: michellee on August 21, 2021, 04:28:32 AM

I believe that being wealthy is for all people but that will depend on how they want to achieve that and how hard their work to be wealthy. Many people dream of becoming rich but they are lazy and do not want to get work. So the question is how they can become rich?

Bitcoin offers a new way to become rich and people need to work hard in many ways. Trading can be one solution for them, but they need to learn about trading and not give up until they succeed in learning the trading lesson and making a profit.

To be rich requires hard work, because being rich cannot be obtained easily. In addition to hard work, patience is also needed to get it, because we
have to go through a long process to become a rich person. Then with Bitcoin, this provides an opportunity for investors to become rich. Due to
the significant movement of the Bitcoin price, make Bitcoin can provide a large profit. Trading is one way of making profit from Bitcoin, so learn
a lot and practice, so that our trading skills increase.

Indeed. Most people can not have patience and do not want to enjoy the process. That is why many people can not be rich from what they did because they do not have patience. If people can consistently work hard, sooner or later, they will get the benefits and it will not take too long to see their wealth will increase. Bitcoin can help them but that will depend on how they can work in a job related to bitcoin. If someone can focus on trading and try to learn more lessons about trading, his skills will increase, which means he will have a chance to make money. That will be a matter of time to see he will become a rich person.

That's why there are fewer rich people than poor people, because the mindset and patience that the rich people don't have the majority of
people in this world. The sad thing is that many people still think they can make a profit overnight by investing in cryptocurrencies.
Or there are still many people who are deceived by scammers who promise Bitcoin can be doubled. The conclusion is that many people do not
realize that being rich is not easy, in addition to requiring patience, requires hard work and sometimes requires sacrifice.

Shasha80

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Quote from: realcrypto on August 21, 2021, 05:38:53 PM

I can say yes Bitcoin really increased wealth equality. Early adopters or let's say investors can testify of this and even those strategically investing or trading Bitcoin presently can also achieve a certain level of wealth which would not be easily accessible to the poor masses if not through Bitcoin.

Bitcoin can be used by anyone, therefore Bitcoin can increase wealth equality for everyone. The problem of equality of wealth has not yet occurred
due to several factors, such as equality of wealth must be obtained with hard work. Not only is it enough for us to just buy Bitcoin and wait for us
to get wealth equality, it takes a little effort to make it happen. So never be lazy to learn everything about Bitcoin, the more knowledge we have,
it will be easier for us to maximize the profit we make from Bitcoin and it will bring us closer to wealth equality.

realcrypto

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I can say yes Bitcoin really increased wealth equality. Early adopters or let's say investors can testify of this and even those strategically investing or trading Bitcoin presently can also achieve a certain level of wealth which would not be easily accessible to the poor masses if not through Bitcoin.

KarugaEdwin

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Nope, the ship has sailed on that noble idea.

mojun7982

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The Standard Protocol - Solving Inflation

Quote from: pooya87 on August 16, 2021, 02:31:50 AM

Bitcoin is not even supposed to "increase wealth" for it to be equally or not.

Quote from: brainactive on August 15, 2021, 11:26:42 PM

Based on what we've seen so far, adoption looks something like: cryptographers -> early adopters -> suits/elite -> the masses

You are thinking "day one", so it is something like this
first half of 2009 cryptographers
second half of 2009 the masses.
Whether or not the "masses" chose to adopt bitcoin is an entirely different story. For example an average Joe might have amassed thousands of bitcoins during 2009.

Quote from: brainactive on August 15, 2021, 11:26:42 PM

Before bitcoin maybe top 2% of people owned 80% of the wealth. But after bitcoin, perhaps top 2% would own 95% of the wealth (approx only to illustrate point).

Wealth is not defined by bitcoin. Bitcoin is just one currency among hundreds of them. The "wealthy" have already printed and accumulated trillions of dollars and nothing is stopping them from also buying bitcoin. I also believe that so many of them like Buffet have been buying bitcoin for years.

One example for someone amassing masses but not being a cryptographer could be Roger Ver! Wink

Sure he had a business selling IT stuff, but he probably purchased thousands indeed. And he also was extremely fast in registering Bitcoin.com. I have always asked myself how nobody else had the idea earlier. Anyone of the cryptographers must have had an idea of Bitcoin becoming successful. I guess Roger was lucky with that one.

taufik123

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it's true as you said comrade, no one gives equality of wealth, greedy pope will definitely not give us a chance to be equal to them, even the government elected by the people, doesn't want to care about us,, let alone the people of the greedy pope, of course they will hoard their bitcoins to increase their coffers of wealth..

Equality of wealth comes from hard work and not just wishing to get rich with bitcoin. It takes effort and determination to be able to achieve the real goal in cryptocurrency. Whales do have more control because whales have a lot of capital to play with market prices or manipulate market conditions. No one can completely regulate bitcoin. Whales just took advantage of the situation at the right time. Think of being whales and follow in their footsteps to get some benefits.

Dhoe

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does bitcoin increase wealth equality? I don't think so, because the reason I say no, because of the evidence that the whales already have a lot of wealth, he always scares weak hands not to adopt bitcoin, he posts negative things about bitcoin, and makes people who are new to bitcoin feel afraid, and in the end he is free to hoard bitcoins..

OnlineCasinoBoard

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Quote from: brainactive on August 15, 2021, 11:26:42 PM

Due to Bitcoin's supply issuance schedule, it's fair to say that those who buy bitcoin early achieve (exponentially) outsized gains.

Based on what we've seen so far, adoption looks something like: cryptographers -> early adopters -> suits/elite -> the masses

Given that the exponential nature of adoption and returns, doesn't Bitcoin further increase wealth equality? So that the elite are even richer than the everyone else?

To be a bit more specific, what I'm envisaging is the new world to include three groups of people, the elite (aka "the 1%" of the old world), the early adopters (aka "the 1%" of the new world) and the masses (the remaining 98% of people).

Before bitcoin maybe top 2% of people owned 80% of the wealth. But after bitcoin, perhaps top 2% would own 95% of the wealth (approx only to illustrate point).

Thoughts?

Bitcoin making huge changes to the world economy.Still it was not controlled by any government including the United states.United States only legalize the cryptocurrency and get some taxes from it.Partially they approved the cryptocurrency.Nearly 70 percentage of people in United States had invested in cryptocurrency.If anything influenced the U.S economy,it will surely had his influence on World economy.

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