Topic: Global Wealth Disparity is going to cause a lot of issues soon - page 2. (Read 414 times)

What the OP said does make sense, if we honestly if ignore the amount of BTC someone accumulated while we put into consideration the decentralization aspect of Bitcoin which make the voice every individual count we can say Bitcoin solve the issue of wealth disparity. An example of what 20kevin20 said "BTC isn't owned by anyone and if the mining pools ever decide to change the parameters as they like, we fork off and solve the issue within hours at most." cause the community are in control of the Bitcoin platform.

It was able to change something back when the wealthy were too skeptical about it and the people were free to get into crypto investments. But now, one single institutional investor has enough monetary resources to invest more than probably the average total sum of 100 usual investors. The rich have too much purchasing power and they will only earn more and more whenever they feel like something is worth to be given a shot.

The markets move according to where the Elites want them to move. It's not a natural market movement no matter what domain we'd talk about. They only keep accumulating wealth and so the wealth gap between social classes is going to keep getting larger and larger without consequences. It is what it is, and we can't do much to solve it.

This doesn't even make sense. Bitcoin solves nothing about wealth disparity. Bitcoin is just another asset like everything else, that you cannot acquire unless you already have wealth. There are exactly two ways to acquire wealth on an individual level: 1) you acquire it from someone who has it, or 2) you acquire it through economic participation. Bitcoin changes exactly zero of these possibilities.

Firstly, it not every currency that are centralized which Bitcoin is a perfect example but there will never be a global currency even if the centralized coins you said are decentralized because every countries have it monetary issues, traditions and government orientation.

Chinese don't accept USD because it was printed by the USA, they reject it because they are a communist country and they will never welcome any currency or activities that will affect their communist ruling.

The problem is that there are a lot of lazy and greedy people who decide that if there are richer people, then for some reason they should share with people like them. This has always been and is being used by dirty politicians, such as Lenin, Stalin if we talk about (the USSR), whose goal is to create an army of slaves from lazy and greedy people. They were not promised "you will work and make yourself a fortune", they were promised - "we will destroy the rich, and then everything will be free, and everyone can take whatever he needs." By the way, this correlates well with history - such regimes were actively created in the 19th and 20th centuries, when there were many poor countries, and significantly decreased by the end of the 20th century, when the average living standard in many countries increased significantly.
I'll finish - I'm against feeding embittered lazy people. Want to live well - earn it!

Id like to point out to people here that the idea that the rich get richer and the poor get poorer is complete bull shit.  There is a wealth gap 100% and yes its large but so freaking what?  Whens the last time you starved? or died of smallpox? or had 3 out of 5 children die before the age of 5?

The normal condition of humanity for the entire length of history has been Very few rich and 99.999% everyone else hand to mouth existence or just dead.  It is only within the last 150 years that has changed.    So instead of looking at what appears to be all bad due to wealth gap you might want to study history a bit to see just how freaking bad it was and how far its come from there.

The only real success story for dragging most people out of complete abject poverty is going on right now.   like Right Now.. history wise the last 150 years is INSANE wealth generation for just about everyone.

Good analogy but a little nudging on agreements on what they will get from it is a possibility of them working together, a merge is going to be a possibility, the only thing that needs to happen is that all the heads of this organizations are willing to work with each other. There are other ways this organizations can work without combining their forces, remember that this people are the ones behind the curtains, who says that they are not working together for a long time now.

That is the thing, for all the criticism that capitalism receives the truth is that we have made great progress during the last decades and there are less poor all around the world, but it seems people want to live in an Utopia and that is not possible, there is always going to be those that have more and those that have less.

And then in order to correct this problem people decide to enact communism, or similar economic systems, that makes most people equal but not by rising their living standards but by decreasing them to the point many of those same people lament the fact capitalism is no longer in place but by the time they realize this it is too late.

You think that if there are 5 mining pools it means bitcoin is centralized, but it's not. You could as well say that nuclear superpowers are controlling the wold because if you were to add together the power of China, Russia, the US and India, the rest of the world wouldn't be able to stop them, but that's exactly the point. They will never work together to take over the world, just as mining pools will not try to take over bitcoin and launch a 51% attack. You're talking from the perspective of the little guy who cannot control the world around him and therefore feels powerless and abused. Believe me, you are in control.

A state system where everyone is equal, there are no poor or rich, everyone is happy and completely satisfied - UTOPIA.
You can take an infinite number of arguments, but one simple argument is enough: all people are different, they have different needs, different tastes, different cravings for consumption! Therefore, society will always be divided into 3 parts:
poor, middle class, rich. And the question is not that there are LOTS of rich and they should be forced to share with the POOR. The question is to increase the middle class.
Communism - ideology, justice reigns, there is no money, full prosperity and an absolutely conscious society - nonsense intended to manipulate the lumpenized community in the USSR. This is from the area "while you marvel in shit, and soon we will build communism and you will live in gold. But it is important now to shut your mouths, come to terms with the fact that you are treated like cattle, and be silent! We have communism on the horizon" ... .If these unfortunate people taught geography, they would understand that the horizon is an IMAGINARY border

I do agree that it will never become a global currency, nothing could ever be, not btc not nothing however if anything has a chance to be a global currency it is going to be dollar for sure, bitcoin is a close second. Why?

First of all Chinese do accept dollars because they work with american companies and get paid in dollars as well and they are fine with it because they know america will pay their debt one way or another there is nothing that will stop them, however america printing whatever amount they want causes a bit of a problem, china has 2 trillion dollars debt they need to collect from usa but usa could print that and be fine with it anyway, it is a problem yet they still accept it.

Bitcoin as well because bitcoin is not tied to any nation and miners can do whatever they want but anyone with more money could destroy miners power very easily if they want to, look at grayscale and their power and grayscale is nowhere near JP Morgan or morgan stanlay levels.

There are certain things which are out of control from our hands and that includes our ideal coins like Bitcoin and other crypto currencies as well. As you said, unequal distribution will lead to global chaos but then again we live in a system where the rich gets richer and richer and poor gets poorer indefinitely and there will always be criminals who hijack others money or shut down institutions, so no matter what we do, ideal and perfect circulation can't be established, that's why I guess life's not fair

The issue about centralisation  or decentralization, when it comes to a particular currency  or a digital  asset  being accepted  globally  is neither here nor there. For any particular  currency  to be accepted  globally, it should be  useful to many  people there.  To a large extent,  one can say that the US Dollar is a global currency  since it is widely used for trading around the world. This means that, bitcoin is widely known and accepted despite the fewer number of people  across the globe who are comfortable  trading  with  bitcoin.

I don't think so. If, as some fear, China suddenly starts willing to take control over the network, the denial of their equipment would also redeem all other similar equipment useless for BTC mining, but at the same time it'd show the world how strong Bitcoin is: whenever control is taken by force, we just reject it no matter what it takes.

Create a currency and give an equal amount to everyone. In the end, there'll be hoarders and sellers. The wealth inequality will never disappear due to this. If 5 people have 1 BTC and one of them wants to sell it to another, here goes wealth inequality already: one has 0 BTC now so is in a disadvantage while the buyer has 2 BTC, so has an advantage. A proper solution to this issue has not been found yet (or I have to hear about its existence yet).

I get your point, but you're looking for a solution that, as I said above, has not been found yet. Considering the current economical rules and status, this either has to be a thing or we "solve" the inequality by making the rich pay more.. which is now unfair for them.

 Well, finding out who does nothing and who doesn't and stealing their wealth just because "they haven't earned it" sucks. Who determines what "doing good" really means? Who determines whether I deserve not to be rewarded anything anymore due to the fact that I haven't done anything good?

As I said, these are communist/extremist rules. You can't take the wealth from someone's hands or decide not to give them any "reward" anymore and call it freedom.

There is no global disparity; atleast that i know of, the USD is a Global currency; whether the Chinese agree to work with it or not; it doesn't change the fact that across Europe, Australia and Africa; the USD is a dominant figure. I think every country has centralized their own currency; this is why there are central banks.

Saying doge can effectively as as a direct replacement for Bitcoin is fallacy; there is no developments behind doge rise except that it was pumped and dumped; how then can i compete with Bitcoin adoption around the world? Bitcoin remains the first, the best and the king in crypto currency

Fiat currencies don't really have a need to be globally accepted. But there actually is a globally accepted currency - the US dollar. While most countries won't allow their whole economy to rely on a foreign currency, at least the informal part of the economy is gladly accept the US dollar wherever you go. And there are exchanges for US dollar and local currency in almost every country in the world.

A currency with even distribution is impossible and pointless - the goal of currency is to exchange it for things, so even if you airdrop equal amount of a new currency to all people and make them use it, you'll again see unequal distribution very soon.

We can change the global wealth disparity not by communism, remember that it didn't work so it is not worth doing a do over. What we can do is make more people in the population less ignorant, make them see the wrong things that have been plaguing the society and then they will elect the smartest person in the bunch that doesn't get scared or get bribed.
I think that USD serves as a faux global currency with a lot of countries holding USD as a reserve currency aside from gold, I think not all currency from powerful countries are a good global currency, look at Russia's ruble, China's yuan, France is using Euro and UK is not that good with foreign policy. I don't want a global government, that thing wouldn't be easy to pull off, the only time that it will work is if terror reigned around the globe and no one can stop the rise of strong government.
The divide will stay if the people are happy with just being given a crumb of bread every time they bow down and accept situation when they could get the whole bread, r/wallstreetbets did the impossible, which means that if people were to bond towards a common goal, I think that they will achieve something, those rich people are not untouchables, they just have bodyguards and when that is gone, the masses can easily tear this people apart.
There is no utopia, the root word of utopia sort of means "non-existing place". The only way that we will topple the hidden pyramid of classes that divide the people is for the masses to have an individual mind and a high level of critical thinking.

@20kevin20 is actually right. These are completely my thoughts about the bitcoin and I have always tried to spread the same thoughts earlier also. It’s very simple calculation based on Satoshi as lowest units. I believe this might have already thought by inventor while programming the bitcoins code. Today it is completely successful in terms of transactions. I can send below one buck too or millions too with no documentation, no authority which is added advantage over centralised currencies.

Hence, if USD or other Fiat are not gonna make it then Bitcoin would be the proper escape option for Global wealth disparity.

Before anything else, are the world's richest individuals today being hunted down by the billions of poor people?

Second, I'm afraid there'll be no fix global currency because there is no global government. Currencies are government-issued. The global currencies that we have today are those of the most powerful nations. It's just logical. But there will be changes as time moves on as there are inevitable shifts of power among nations in the global stage.

Third, the great wealth divide will always stay. Bitcoin is not here to plain the field. It is not Bitcoin's objective to address the unequitable wealth distribution in the human race.  

Finally, even a great financial reset, provided it is not just a utopian imagination, won't do much. In the first place, who will do it? The current elites and powerful? Do you think they would envision a world where they will end up in the same situation with that of their maids, nannies, gardeners, and so on?

But how do you plan to change this? Even if we could make a reset and everyone begins with the same resources the differences in skill will begin to produce individuals that have more than the others, how do you propose that they do not use their rights to give what they have to whoever they want?

Whether you like it or not generational wealth is a thing and most of those that have the skills to produce huge levels of wealth know very well how they did it and can teach their family members how to do this as well and very soon we will find ourselves in the same scenario that we face today, and there is no way to avoid it because even if you had a rule that stated that the wealth of that successful individual cannot go to his family they could always change the rules of the game once they have enough power to do so, so for the most part you are trying to solve something that for the most part cannot be solved.