Topic: How Bitcoin/Crypocurrencies will lessen the rich - poor divide (Read 718 times)

Never going to happen. People will start complaining that the poor are being side-lined. 


The best idea is to reduce the income tax overall. The rich pays much more (in percentage) taxes as compared to the middle class.

And the best way to reduce the income tax is to reduce the government expenses. Stop giving handouts to people who can work. Giving handouts to handicapped people is understandable. But why give them to those who can work? Also don't indulge in expensive wars outside your home country for silly reasons.

Seems like, rather unwittingly, governments and their agencies are going to end up with a fair few bitcoins pretty quickly if things like this continues:

US government owns the single largest Bitcoin wallet on the internet - Wired

And I can't imagine they wont spend them ...

That's a bold statement. Do you have anything in the way of evidence or reasoning to support this?



Pretty much how things are now then. The heavily-taxed middle class pays the people who protect the wealthy. Things would be much fairer if people just paid for the services they need.

The rich will migrate to nations with liberal tax regime. Even with fiat it is already happening. Just look at the number of rich Europeans taking residence in countries such as Russia. Same will happen with Bitcoin.

If a particular nation, lets assume Sweden decides to tax everyone with 1K Bitcoin 99%, then these people will simply pack their bags and leave for Russia. What will the Swedish government do? Declare war against Russia?

I do agree with many points but we will live in a very different world then, connectedness via the internet will create such an instant worldwide attention and focus on the people with the money that they will find it very hard to keep it and attetion away from them.

Christ I'm high right now.

I can already see holes in my utopian view as I type this ... as the amount of wealth single people have can be spread evenly through thousands of wallets and addresses.

God damn reality kicking back in ... NOOOOO!

I don't think bitcoin will change the distribution of wealth in any way, sorry.
Actually, bitcoin bubbles demonstrate how greedy our society is and that poors cannot have no way to get in and have access to the technology required.
Also, you can see the distribution based on addresses, but you cannot associate one address to another if there aren't transactions between them
Not willing to lock 10 BTC for 10 years, but you are wrong

Seriously though, unless bitcoin and currencies like it end up doing this as an end goal then we are just shooting ourselves in the foot. I think my points stand.

Bets against open now 10 BTC minimum waived on a decrease over ten years, and bear in mind in ten years BTC should be worth a lot more if accepted as the standard, I'll match everyone's bet, Bitcoins could be deposited into a ten year escrow for anyone who is game

Also to take into account is the fact that ther govenment does not even need to create a public wallet and demand payments from people, people can create a wallet for everything they collectively agree is worthy of deposits and spending to improve global society and culture.

Anything can be taxed if it really needs to be, just wait until the services govenments offer democracies begin to break down as BTC based currencies become more widely used, people will be happy to contribute thyemselves then, and all of this money and what it is spent on is 100% in the public domain so can not be abused like it currently often is.

 I think you're wrong about that. 

progressive taxation is the only thing that really and truly works to maintain a middle class that allows democracy to function.

Cryptocoins are (so far anyway) hard to tax at all, let alone progressively. 

Imagine a world in which the wealthy aren't taxed and the people who are supposed to protect the rest of us aren't funded.

There's so many variables involved in this thought experiment I might as well be sat here copying it from a crystal ball, but here goes.

Taking into account the exponential growth of technology (moores law) combined with the power structure redistribution finally taken away from the richest 1% by the combined efforts of the free open source counter-currencies developed by the more innovative and powerful 99% we can expect in 10-15 years:

* A platform by which the majority of the worlds population (whether by digital or physical medium) can use the common lowest denomination of BTC ( 2.1x10^7 (BTC) / 7x10^9 (people)  = 3.xyz (mBTC)  each. Realistically it will be a fraction of this as a similar blueprint of wealth distribution to now becomes apparent due to the cultural narratives; the difference is that the entire world can instantly see the entire worlds money distribution in the PUBLIC domain, so people can not hide behind fiat/classified/secret wealth/power distributions without it becoming known worldwide and public debates to resolve this will become easier with the linearization of the data flow of global currencies.

* The above sentence was going to come in bullet points.

* But since the first bullet here is really as far as I've taken this idea

* There is probably no need for further bullet points

So ... someone kindly destroy this lil brain dump

Thanks