Topic: Does Bitcoin increase wealth equality? (Read 744 times)

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.

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.

To invest their time and/or money in it.


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?


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


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


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

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.

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.

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.

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.

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 ...

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.

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.

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.

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.

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.

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.

 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.

Nope, the ship has sailed on that noble idea.

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

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.

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..

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.

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.

Bitcoin can only increase wealth when bought and left for longer period of time to appreciate more before selling it. Bitcoin is an asset not a tool for equality program or plans. It does not equalize wealth or balance the wealth of the rich to that of an average man. The potential in Bitcoin is to increase the value of one asset according to size and time in which this is done.

If the rich put more funds in Bitcoin meaning they'll gonna make more money that one who put lesser amount. It's a money doubling asset that requires holding for a certain period of time before selling it.

- Your sense of equality is only equal to the participating classes, there is no restriction to the poor and less qualified but one thing that remains original is that property equality will not appear because once this equality emerges, many people's criteria and goals will be reduced and many people's aspirations will be eroded as they try harder, bitcoin still make everything equal, their wealth is only equal to those who don't try. Such ground and playing field is not suitable for the aspirations of many subjects, intelligence and sophistication will have their value, cannot be put on par with lack of knowledge.

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.

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.

Given human nature is actually full of greed, then I think it is very unlikely to increase wealth equality, even with bitcoin, because rich people have large portfolios so it is very easy for them to earn large incomes, they will also do various ways to continue increase their wealth, while the poor usually only work for the rich, because the poor do not have a sufficient portfolio to build a business.

There will never be equality of wealth in this world, and bitcoin cannot solve this problem, moreover the supply of bitcoins is so limited that it can only be owned by a few rich people and it is likely that some of the poor will never own it, thus creating a 99% income gap for the rich , and 1% for the poor.

Bitcoin can't establish wealth equality. It has made early buyers wealthy but that doesn't mean it has equated them to the existing wealthy men who has been in to various investments over the years. Except this holders diversify their portfolio to accommodate other investments option that will help solve global challenges but relying on bitcoin alone can't achieve it.

Wealthy people have stable stores of value like hedge funds, venture capital, and so on. Rich people can borrow money to purchase bonds, real estate and land without putting down any money. Poor people cannot. And, as a result, the rich get richer while the poor get poorer.
We are investing in Bitcoin to at least keep our money safe in a currency that won't lose value due to the increase in the supply.

I think yes it can increase the equality because it somehow levels the playing field for those at the lower strata although it's not quite enough to be equal with the uber rich like Bezos and Musk, this is different. If you think about it if you include the uber rich then it's not equal but in some parts yes it does make wealth equality.

yes, Bitcoin has pushed the economy of the poor to become rich. Bitcoin has a very good influence on the economy in a country where the majority of the population is classified as poor. most of the bitcoin holders come from poor families, then their lives change drastically after buying bitcoins and holding them for a very long time, this is what increases the wealth equality of the population in a country.

My opinion is in relation to my own experience. Before bitcoin I did not have a job, I live in a country with hyperinflation where most of the population only has enough money to eat. Other needs such as buying clothes, shoes, doing home repairs among others, the average population has to save for a long time or work very hard to achieve it. Thanks to bitcoin, I have a job, I overcame the hyperinflation in my country and now I can support my family and help the closest relatives who need the most.

On the other hand, I think that the equality of wealth in bitcoin that OP mentions refers to those who are investing in bitcoin receive their wealth in proportion to their investment or holding of bitcoin.

The richer get richer still applies in cryptocurrency but at least this time there is a chance for the poor to get richer since they could hold tokens to expect enough return one day.

Equality is not ideal really but the people to have enough will have contentment. The world will be better to have people who could say they have enough than people who will revolt to make more money. Sometimes its not good for the poor to have more money, they eventually see their past enemies be a peony.

Bitcoin's decentralization promotes the fairness of global currencies and protects its holders from inflation.
Bitcoin does not achieve global wealth equality. It will only benefit those who are really rich or the rich who buy it, and make the rich who have the funds to buy more Bitcoins become richer.

Wealth equality? Is that even a concept that can be attained? When Bitcoin was created, does the creator have in mind ending poverty all over the world? Bitcoin was an experiment in digital currency and it succeeded. Also, your concept of wealth equality is to general, where do you think wealth equality will happen? In the U.S.? I mean if you are talking about a country as large as America or Russia or China, that is already complex without the government machinery. Then you think of wealth equality in the whole world through crypto? That would be problematic.

I don't know why people raise this question again and again. Satoshi Nakamoto was not a socialist. So there is zero chance that his innovation has wealth redistribution or wealth equality as one of the perceived goals. Also, wealth equality is not possible with an anonymous asset such as Bitcoin. Even if you airdrop Bitcoin equally to every human in this planet, there is no guarantee that the distribution will remain the same after 1-2 weeks. You can try the Venezuelan Bolívar or the Cuban Peso if you want wealth equality.

I don’t think that equality of wealth is a good phenomenon. The law of survival of the weak and the fittest is not unreasonable. When all are equal, who will have the desire for upward progress and the motivation to work hard. Life is unequal. The reason why people work hard, Bitcoin will not solve this problem. Everyone's initial starting point is different, so they will not reach the same end.

Bitcoin cannot solve this problem. Bitcoin's inequality will be more serious, because wealthy investors can afford to buy more Bitcoin, and the supply of Bitcoin is limited. Like whales, they can do anything in the market. Manipulation, causing panic among retail investors, isn't this the power of capital? So I don't think Bitcoin will make wealth equal.

Bitcoin will only benefit for those who really have enough money or the rich guys buying it. Sadly the average people one get smaller portions of profit out of it, because they can't buy as much as the rich person did.
However there's an other options investing with altcoins can be a good alternative but have no assurance at all.
In general I don't see any wealth equality, everyone has a different financial wealth situation to tackle with.

If you have 1 BTC, you will be said as wealthy if you cash out it and by fiat.
And the amount of the fiat itself that will determine it. This is actually the common sense and opinions of many people around the world.
People are rich if they have a lot of money, big companies, work in top companies, have big houses, many vehicles, and also others.
but if you have even 3BTC, will you consider rich?
If someone else knows about Bitcoin and what's inside your wallet, yeah you will.
But for many other ordinary people, they will not think about that if you don't have some things above.

How does Bitcoin save wages? Most people would expect to be paid in the same amount in both fiat and Bitcoin but people who get paid in Bitcoin might hope that Bitcoin gains price and they benefit off of it more. It does not save wages. Bitcoin does not achieve global wealth equality because to gain Bitcoin you have to invest which requires money at first you cannot generate it without invest a lot of money.

Bitcoin fixes unbanking and cantillionaires to an extent but Grin fair distribution model completes this idea.

I agree, billionaires have only started to take interest in Bitcoin. As you said before
Lucius, anything under $100,000 is a bargain but unfortunately the higher the
Bitcoin price goes the less ordinary people can afford to buy, not really relevant for
the elite so that way Bitcoin does increase inequality, but what financial or investment
vehicle doesnt?

This thing about wealth equality and wealth distribution doesnt work, at best it would
work for a short time. Some people will earn more than others, some will spend and save
more than others, does that mean there should be wealth redistribution every 5 years?

I know a magical cure for inequality. Let some morons due to some redistribution and as history told us in less than 10 years everybody will be as wealthy as a church mouse. Works flawlessly since the 18th century.


I think this is one of the other myths that gets regurgitated here topic after topic, if the "elite" or the reptilians or the Bilderbergs or the NWO or whatever would have been secretly buying coins with a tiny percentage of their total wealth we would not be at under $1T in marketcap by now. And the excuse that they keep prices low by doing some voodoo magic to buy coins cheaply is also simply ridiculous.
Just the 1% of the wealthiest Americans own (legally and traceable) around 42 trillion in assets, if they would have used even one tiny percentage of this, the numbers would be totally different by now, let's not forget the current $800 billion includes also satoshis' coins and other lost coins, coins for which nobody has paid a dime ever.

Anyhow, back to the wealth redistribution, again, day after day, people are preoccupied with other people's money and how bitcoin is helping and not helping like a bunch of code would ever be capable of applying socialist principles. Too bad that it seems I'm not going to get used to this barking anytime soon.

Bitcoin wasnt created for that sole purpose because this is mainly focusing on decentralized payments without 3rd party involved which is totally not mentioning about equality or even just with common sense
you could really able to tell that this is something impossible to happen on this world as there would be people whom do love to accumulate more as much as they can.To think about wallets that do own
more than 1 bitcoin and the rest is just some fraction or proportional. There would be people who do love to be on the peak spots when it comes to their possession which is the sad fact.
Why would thinking off about equality? It wouldnt happen.

In this case, we must be patient and consistent. buying a small amount is not a problem, as long as it is sustainable, if it is collected over time it will be more and more. This is similar to the DCA strategy, where we buy assets with fixed capital and are carried out for a certain time continuously. for example, buy bitcoins every month by setting aside 10% of income. This is quite effective for those of us who lack market analysis skills.
Either way, bitcoin offers an opportunity to get rich, if we don't become people who have the ability, we hope that we become lucky people. a lot of surprises in the crypto world, enjoy and take advantage of it.

I'm not sure that Bitcoin does increase wealth inequality - I think that it is an ongoing process that happens regardless of Bitcoin. The rich get richer every single day, simply because it is extremely hard to outspend their various sources of income. They will have huge stock portfolios which generate money in the form of dividends (companies paying out their profits) which usually get reinvested to buy more shares, so the dividends increase next quarter or next year - only a small fraction is usually siphoned off to pay living expenses. Bitcoin is just another storage vessel for their money and they are more than happen to join the hype train if advisors are showing them massive gains on certain types of investment.

Making someone rich? Uh no. Bitcoin isn't really that type of stuff that you expect that would give you wealth. Although I am gonna be honest that its value is insane from how it just go all the waaaay up in its price, but again there are people forgetting about what Bitcoin is made for.

Other investments you are mentioning are surely just those shitcoins.

The rich who have the wealth to invest in Bitcoin will accumulate more wealth the gap will not close instead it will widen. The average joe does not have the money to invest in Bitcoin to make enough to close the gap they might become rich from it but the gap will widen because every rich person will have invested in Bitcoin to.

The real basic wealth of the ability of a diligent person to always follow and enter in a bitcoin market movement..
from small things are always collected and do not need to have large capital to achieve wealth with bitcoin..

Bitcoin promotes the fairness of the global currency. As for whether wealth equality can be achieved, I think it is impossible. Maybe after many years, through fair game rules, the wealth gap will be narrowed. The weakness of human nature is not to worry too much, but to worry about uneven distribution.

make people see nothing meaning only bitcoin can bring profit and gains? i am not sure if you are correct but for me? i made profit in altcoin also so disagree on this.

it is equal if we will act us one, we will hold in time and will sell in time also that is equality , but since the market needs a loser for others to be a winner ,then that is what we called Cycle of market.

In the right investment? do you really understand this right? we are talking about bitcoin so what is other investment there?

The crypto market is not stable so it is very difficult to predict it accurately. Even if it guarantees what will happen in the future the networks may be wrong to rise and fall if you can invest in the right way it is possible to increase the balance of bitcoin assets for this you need to have good knowledge and experience about the market. Not the manufacturing business or the industrial product with analytical supply and demand balance the bull bear gap when it comes to valuing things like bitcoin is not only in terms of price but also very purposeful for their existence as investable assets.

The distribution of Bitcoin is not uniform, but in the long run, Bitcoin is a force against the uneven distribution of global wealth. Workers using Bitcoin can save wages and accumulate the scarcest monetary wealth. Therefore, Bitcoin is a currency that achieves global wealth equality.If it is inequality in the initial state, the Bitcoin network will also bring wealth equality in the future.

Bitcoin quantitatively strengthens monetary policy and protects people's wealth from government control and harvesting. And the value of Bitcoin will increase over time, and your wealth will only increase because of savings.

The decentralization of Bitcoin makes equality of opportunity possible. Everyone can participate in the same monetary system, freeing us from discrimination against the poor and the helpless by government funds. Bitcoin can push us towards a fair and equal world.

Bitcoin may make a person rich, but investing in other cryptocurrencies may make people see nothing.
Investment is risky. Bitcoin will not increase wealth equality, it will allow us to transform grassroots personnel into a process of wealth freedom. Some people will succeed, some people will fail.
If it is the right investment, Bitcoin will make us rich.

Bitcoin's marketcap is still only 1 trillion. This is a tiny drop compared to global wealth. So before you can start seriously discussing Bitcoin's effects on inequality, you would need to have it grow hundreds of times, which might not even happen. It's pointless to discuss things that are so distant in the future, because so many things can change and absolutely no one can predict that.

Not everyone, are you so out of touch and privileged that you didn't think your reply through? If everyone has an opportunity to get rich, then how come there are people dying of hunger in some parts in different continents like Africa, Asia and impoverished parts of Europe and Americas? This world has been unfair from the start, it's not the world though, it's the people that made it feel that the world is unfair. I don't exactly think that bitcoin increased or improve the wealth quality, probably made just another means to make money.

basically we all have the opportunity to get rich, sometimes we throw away every opportunity that exists, we can't take advantage of all the opportunities that have come to us, maybe people who have been playing bitcoin from the start, they are now rich, sometimes there are some of them who fell into poverty again, because they lost in gambling..

Are you talking about overall equality? Because that's never going to happen because the richer would just get richer and the poor just get crumbs or something. Unless they try to invest in it, they will probably use it for necessities instead of Bitcoin. With the current situation that we are in, it's not going to be distributed to the masses because it's long gone. Early adopters, on the other, have the feeling of the make it or break it type of thing.

If that were true, don’t you think the price of BTC today would be much higher than it really is? If elites (billionaires) really bought BTC, then it would be very visible on crypto exchanges that would be far less liquid than it is today - because I have not heard of a case where someone failed to buy BTC because there is a shortage on some exchange.

Regardless of the fact that the BTC supply is limited to 21 million coins, and that it seems very small to some people - there are still large (millions of coins) in the open market, but also in the OTC market.

Being rich and being elite is not always a sign that someone is intelligent, because there are those who have inherited wealth and do nothing with it except spend it. Consequently, I don’t think these elites took BTC seriously until the bull run in 2017 - nor did many ordinary people.

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?

That very quoted sentence defines a Ponzi supporter's perspective, rather than one's who see things objectively. I get that you support Bitcoin, but you should allow valid criticism. 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.

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As for this:
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.

I do think that this works if done in a right way. There are people who had nothing and they they invested in Bitcoins and at the end of the day they became millionaires. Many of them are earning even right now and have not yet sold off everything.

I do believe that it does give public a chance to earn, trade, invest because most of the things like : stocks, property, gold does need a big initial investment but with Bitcoins and other cryptocurrencies you are good to go with small amounts and you don't have any regulations as well.

You can make your own path and that's what I love about bitcoins. It's never a guarantee but at least you have a chance to do something different.

We all have chances in become rich when you pursue your dreams.

The gap still exist but there is nothing the in whitepaper that says it solves inequality of wealth. However there are chances for us poor to join by investing to newer projects and still become whales when the price goes high. Eth was once less than $1 I'm sure there are crypto that will also rise the same way as Eth.

Did 'Traveller's Cheques' solve wealth inequality before they became obsolete.  Has email solved it?  No.  Because these things weren't designed to do that.  It wasn't their purpose.  Solving wealth inequality isn't in the remit here.  Bitcoin is not some magical cure-all which somehow fixes every problem you care to name.

It gives everyone the same sovereignty and self-determination.  That's the equality you gain.  However much bitcoin you hold, you have the same amounts of control over that wealth as someone else who may hold a larger quantity of bitcoin than you.  Is that not enough for you?

I am against wealth equality.

It's a garbage story that has been invented in the post-communist world where they used to talk about poverty. Since thanks to the market economy there has been a drastic reduction of poverty and hunger around the globe, now they come up with wealth equality.

Societies have progressed with unequal wealth accumulation, but where everyone has become richer on average. Think of a rich man and an average poor man in Marx's time, some 200 years ago, and a rich man and an average poor man today. Today's rich and poor enjoy many more goods and services, so they are richer.

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. With the story of wealth inequality, the politician of tomorrow will want to come and confiscate the Bitcoin from those who earned it in order to distribute it to those who said it was a scam, etc.

So fuck wealth (in)equality up the ass and I will continue to buy Bitcoin.

You can't have fairness in a world where we have so many billionaires owning almost the entire world's wealth. If you wanted to create a fair economical system, first of all we have to redistribute wealth to the poor. Many thought BTC was helping lower the wealth inequality including me, but it's not that way unfortunately..

One big reason is that billionaires todag are still early and can still get very big positions in the crypto world before the masses get in. See MicroStrategy and Tesla, they're two examples of this happening. They can easily afford a significant % of the total supply. Unfrtounately, it might turn out to actually widen the gap between the poor and tbe rich rather than shrink it.

Bitcoin secure it's holders from inflation. I think it's mean that the holders will not suffer from financial loss because of inflation. The problem is bitcoin is still volatile, and there are so many people who buy and sell bitcoin at wrong time. Many people in America who become poor because they consider bitcoin as gambling. But I agree that bitcoin maybe increase wealth equality, except those whales who become early adopters that become even much more wealthy. So I think is the most important thing is become early adopters now then we will become richer.

Short answer: NO.

There is no fairness or equality on the world, frankly said. Any system can try to do fair, equal wealth distributions but in reality the rich take it all. At least, 20% of the richest people take 80% of all assets on Earth. You can expand it from nationwide to worldwide scale, from financial to many other aspects.

Why I can say this? Because of Pareto principle that is proved as accurate and applicable in history. So, I invite you to check it out

• Pareto Principel (Wikipedia)
• Pareto principle and Bitcoin owners
• Merit earners & the Pareto principle

Additionally, Bitcoin is not created for equally wealth distribution. People are given a chance to have their own banks, with Bitcoin. Take it, skip it, be richer or poorer with Bitcoin, it is their responsibilities.

To everyone replying, if you look at the majority of their other posts it is clear that brainactive is anti-bitcoin. Could be they are supporting another coin or just enjoys posting FUD. Not sure why.

But anyway to the point:

No *thing* can really fight wealth inequality inequality. And no *thing* can really cause more wealth inequality. Government and financial policies can do it, a major change in a majority of the financial markets can too. But a thing, be it BTC or gold or whatever can make some changes to it, but to move the scales to a large degree no it's just about impossible without external influence from policy changes.

-Dave

Then why you don't just change it?

And no, bitcoin won't change much imho. It does give the chance to some "newcomers" get rich, it also makes some of the wealthy wealthier.
Since it gives more chances to almost everybody, it's imho less "unequal" than stocks. It may be closer to what gold was in the early years of the gold rush.

That's the reality, the rich only get richer and the poor can probably get by when they have bitcoin's. I think  there's no change in wealth disparity, there's just more means to make money those money makers have been more accessible to more people so it somehow evens the playing field for those at a disadvantage.

Who can benefit the most in such a market? The answer is ordinary investors. Because this can only happen in a market where the benefits have not been allocated and the class has not been solidified. Only in this savage arena, an individual can perform miracles, and of course it is also possible to be broken into pieces. But as long as we take protective measures and take out funds that we can withstand failure to fight in this market, overall we can still minimize risks and maximize returns.

It is precisely because Bitcoin can bring us unimaginable benefits in each round of bull market, and repeatedly penetrate our cognitive upper limit, so we can not think about it with a solidified point of view, because it is still growing, and I think it will work miracles. For example, I believe that its market value will definitely exceed that of gold.

Yeah that's my point - I believe billionaires have been buying bitcoin for years. A high percentage of the elite already own bitcoin. And a lot of the middle class and accumularing too. When majority of the lower class eventually start to accumulate, the people who bought early such as the elite are going to see outsized returns compared to the lower class. This increases wealth inequality.

Note: I refer to the groups in aggregate ("elite", "middle class", "lower class") to illustrate my point. Obviously someone from lower class can purchase in 2009 and bought before someone from upper class. But my point is when we look at the groups in aggregate, the "elite" already know the current finanncial system well and are more likely to know and understand bitcoin before the lower class (again I'm talking about in aggreagate).

Note2: Title of thread is incorrect. Should read "Does Bitcoin increase wealth inequality"

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

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.

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.

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?