Topic: Global Wealth Disparity is going to cause a lot of issues soon - page 3. (Read 428 times)

Money doesn't represent all of the wealth in the world. Except for a notable few, the richest people in the world together own 0 BTC. And while Musk may be the wealthiest person in the world, I bet 99% of his wealth is not from money stored in bank accounts.

I haven't seen the u.s. or china try to control bitcoin yet. I imagine when they do we will know because so much mining power is in china and the u.s. A simple knock on their door and chinese btc fork would be made.


I dont think there is an issue with fees, as long as everyone can meaningfully participate in the network they can earn money to use it. The issue bitcoin has is almost no one can participate in the network (meaningfully)

And yeah I love the beauty of infinite decimal places for once we reach a multiplanetary civilization.

Okay lets look at your theory: BTC forks off with every miner but the mining pools:

1. You can change btc from sha but then every btc miner now has to get new equipment since they all use asics. Your coin probably dies now

2. You can keep the same algorithm and then a few of the top miners from those pools will regularly attack your coin with their hashing power like with bch. Lets say they are nice and don't attack you. Your coin now cost way less to mine than theirs and so the price will fall, many will see this already as not bitcoin as they usually count the one that is the highest price when forks like abc/sv happened. So still you haven't created a new bitcoin.

How do you avoid these scenarios and take back control from the mining pools?


Also I like your maths but that is actually exactly what I am asking if you divided all coins evenly then btc could be a global currency, but btc isn't, its held in a pyramid. So i calculated the average amount of btc(i actually did this for other coins too and realized they all share a similar distribution structure however some just havent reached as many levels of the pyramid yet due to a small mcap/users) held at each level and extended the pyramid downwards to ~5 billion users. At the last level will be 1 billion people who have that little amount of btc.


The global wealth disparity doesn't have to be a thing. It's only defeatist propaganda you've been fed that makes you believe so. Similar to how creating a currency not owned by a central bank is not a thing that caught on until bitcoin. People who earn their money are not the issue, one could argue maybe they pay more taxes etc. but thats to be decided. The issue is with people who don't earn their wealth- either through stealing as you say or simply inheriting.

This unearned wealth creates the issue because most people would reward someone for doing good. Almost no one would reward someone for doing nothing or worse hurting others. Yet in most parts of the world the wealth is held by people who were friends with kings, dictators, etc. from the last few centuries. I am not especially into choosing an economic side, I just believe we should develop the best system from the ground up. Rather than using a system biased by history to determine who is the wealthiest.

This seems more like an article about Global Acceptance of currencies rather than Wealth Disparity but I get your point.

This is the exact same reason why we need : Bitcoins
They are not controlled by any country, they do not have any dark side to their existence like most of these currencies do. They do not have restrictions on who can use them or who cannot. They cannot be controlled by anyone. Chinese have tried it, America have tried it but at the end of the day it's not something that can be tainted. Having a global currency without any borders will now only Help the people in financial matters but at the same time bring them closer (poetically).

But then again we would have to solve the issue of :
Fee
How it will be available for everyone since not everyone has same financial status and education.

Let's see how it goes in the future. We always can use smaller and smaller denominations in case of bitcoins..

First of all, Bitcoin is not fully owned by the top 5 mining pools as you say. 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.

Then, there wouldn't be just 0.0000001BTC per person. 21M coins divided by 7,800,000,000 people is about 0.00269 per existent person. Bitcoin is way easier to be moved around in much smaller quantities - you can't pay with 0.0000001$, can you?

The global wealth disparity will be a thing no matter how much we change things. There'll always be someone who earns more (or steals from others). We can't really change that unless we apply communist rules.

Why is every currency so centralized? By doing this, none of them can become global currencies.

Taking a look at some of the most likely coins to become a global currency at the moment:



USD- Chinese will never accept it since it is printed indefinitely by USA

BTC- Completely owned by the 5 top mining pools who control if btc has inflation or other network parameters because if they stop mining the old btc then the new btc is automatically the real one since it has all the mining power to back its value and not be attacked (see ltc, bch, etc. for examples)

Dogecoin- A fun coin and with stable development but with pow it has the same issues as btc and if they moved to pos they'd still have the same issue due to these rich lists:

(European/Russian currencies): All still held by the same people whose ancestors were friends with the king/czar since trickle down doesn't work and there is not as many "new rich" as the america's

I can only see how a currency that is globally owned could become globally accepted.

People normally purport btc's wealth centralization as a reason to buy but at 7 billion users following this trend 1 billion people would have less than 0.0000001 BTC each....that's a greater wealth divide than we currently have with even USD. I can't imagine a world where the 100 people with large btc balances aren't hunted down by the billions of poor if that was the case.

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