Topic: Is Bitcoin and Crypto Currencies the great equalizer? - page 2. (Read 1039 times)

I think that it has become very difficult to get into crypto over the last couple or three years simply because of the rapid price increase.  That's great for early adopters, certainly, but now prices are so high even on some of the best altcoins that those with less resources will have problems entering the crypto world.  That's not to say it's not possible to buy some relatively cheap new altcoin that eventually skyrockets, but that's a lot easier said than done.

You are generally correct on the first part of your comment, that we are witnessing some redistribution of wealth to those who hold bitcoin and/or invest in bitcoin - however, this redistribution is not all or nothing because rich people can also choose to invest their shitty and abundant fiat into bitcoin, yet if they do not have confidence in bitcoin, then they will have to jump on board when the train is further down the track.  Furthermore, there are ups and downs in this volatile market, so the poor are only going to benefit from this redistribution if they do not get shook out by the volatility and the FUD.. so they gotta continue to invest and accumulate at whatever ability that they have, even if it is only $5 per week....


So the last part of your statement is both right and wrong.  It is wrong because it is framed as an absolute and it is right because people are not going to get out of poverty unless they are strategic about what little resources that they have and if they are able to identify investing in bitcoin now and into the near-term future.. and to muster up even small amounts of money to invest in bitcoin... If they dedicate no money to bitcoin, then any benefit that they might get from bitcoin/blockchain may be a lot more indirect - by the disruption of the total system that possibly provides them some decentralized avenues (will take some time to play out).

Thank you for the comment..
This is exactly what I meant, isn't this the reason why Bitcoin was conceived in the first place?

Banks could care less. They have governments in their pockets, so they can do what they want. They nearly destroyed the global economy in 2008 and the government rewarded them for that by bailing them out with tax payers money. A year after that, these bankers got huge bonuses for "saving" the economy.

Bitcoin cannot stop corrupt politicians and government employees. Bitcoin cannot change corrupt practices in the banking sector. < it might make things more transparent if it was on the Blockchain, but banks will never use Bitcoin >

What Bitcoin might change, is to remove banks from the payment process. People will be able to transfer wealth directly from person to person and not through banks. This might also make transactions cheaper and more affordable for users.

That is so true .. Its too premature to call it an equalizer just yet but I see the disruption it creates will have long cascading effects that could translate the benefits to the many from the few.. (Wishful)

I hear the tech can be implement in e-governance and e-voting ... You know what this means... I vote per person...

Thank you for the comment.. Decentralized is the key here.. not under any one's control..

It still depends, as of now we can see how Government and Other Big Companies adjust and also invest in the same time at bitcoin and other cryptocurrencies. We can conclude things after bitcoin's future upgrades and until bitcoin become stable we can now conclude if it will be a great equalizer between poor and rich people.

Not as great equalizer but I consider bitcoin is another way from banks which monopolize world economy for a long time.
I would say, bitcoin is a digital currency and blockchain is a better banking system, decentralized is the best part.
Even though bitcoin price is expensive and not everyone could access it in 3rd world countriess, could be changed as time goes on.

Bitcoin and cryptocurrencies are going to help lots of poor people to become very rich in the future.

No one is selfless, not even the bounty programs Lol... Everybody is doing what they're doing with their interests in mind... Isn't it?

Thanks for your comments..

Thanks for the comments.. I see we're headed int he right direction then.. Many governments are already looking into the possibility of introducing block-chain based  digital fiat currencies.. Like India and Japan and Switzerland ..

Whatever this is, we still do not know the future. And for the problem of social inequality is how we can share with people who are more difficult than us. And again the crypto server, I think this is already on a good equalizer.

What we need is a leader in the field of finance to realize the potential of blockchain technology and of bitcoins and other cryptocurrencies. A leader who cares about the growth of the economy and citizens of the world rather than his own personal gain. When institutional leaders start to accept bitcoin and incorporate it into everyday people's lives is when we will see more mass adoption and acceptance. Then bitcoin will be easier to use.

Thank you for the comment...

It is not an equaliser. It just redistributed wealth. Early adopters are the nouveau rich. But nobody is going to get out of poverty because of Bitcoin or blockchain technology.

Like many people don't day trade in the secondary market either... but due to the deflationary nature about bitcoin and if the system sustains one can just buy and HODL..

Yeah it is sad that others can't grab this opportunity,
there are other person's who can't really hang out in the internet or don't really want to learn it,
I know some few people who doesn't want or not really interested in it even though they know how much they could earn in crypto currencies.

Absolutely!