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Topic: Is Bitcoin failing? - page 2. (Read 4228 times)

hero member
Activity: 994
Merit: 501
January 04, 2014, 07:01:50 PM
#13

Does this mean that we won't see a more even distribution of wealth?

http://bitcoinexaminer.org/wealth-distribution-fiat-currency-vs-btc-infographic/?utm_medium=twitter&utm_source=twitterfeed


The people with the most existing resources will be able to secure the most BTC through mining. How will BTC resist the concentration of wealth?

Holy shit, has got to be the worst "deceiving but still technically correct" chart I have seen yet

Why the fuck wouldn't you use the same amounts for the different areas?

"Oh because we like wanted to show how the top 0.001 of fiat is roughly the same size as the top 0.004 of BTC lol"
Shut up, that's not how people's brains work. Make the categories the same so people can compare the sizes.

Selective Reporting is the fancy name.  Fudging the data is more of the informal word for this.  People can manipulate statistics to their liking in almost anyway they choose.  They aren't lying per say, just presenting it in a fashion that proves their point.
sr. member
Activity: 1582
Merit: 253
January 04, 2014, 05:39:05 PM
#12

Does this mean that we won't see a more even distribution of wealth?

http://bitcoinexaminer.org/wealth-distribution-fiat-currency-vs-btc-infographic/?utm_medium=twitter&utm_source=twitterfeed


The people with the most existing resources will be able to secure the most BTC through mining. How will BTC resist the concentration of wealth?

Holy shit, has got to be the worst "deceiving but still technically correct" chart I have seen yet

Why the fuck wouldn't you use the same amounts for the different areas?

"Oh because we like wanted to show how the top 0.001 of fiat is roughly the same size as the top 0.004 of BTC lol"
Shut up, that's not how people's brains work. Make the categories the same so people can compare the sizes.
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
January 04, 2014, 04:57:23 PM
#11
This chart is very wrong, almost 99% of all the fiat money belongs to federal reserve banks, which is privately owned
hero member
Activity: 994
Merit: 501
January 04, 2014, 04:17:11 PM
#10
Keep in mind: Bitcoin is not designed to fix the problem on wealth distribution.

Exactly this.  People who mined early in the CA gold rush made money, everyone else who followed basically didn't.  People who bought Apple early made A LOT of money.  People who bought later made some money. 

Why does the world need to be equal?  Some people are smarter.  Some people are luckier.  Some people work harder than others.  Some are both, all, neither.

Bitcoin solves a lot of issues which people, and merchants, were looking for.  That's all.  It's not set up to be a charity.
hero member
Activity: 770
Merit: 500
January 04, 2014, 03:40:16 PM
#9
this is where Litecoin wins as there are still 50 + million coins left to be mined.
full member
Activity: 173
Merit: 101
January 04, 2014, 03:38:43 PM
#8
Sorry what, I missed the point?
sr. member
Activity: 275
Merit: 250
January 03, 2014, 09:05:29 PM
#7
Keep in mind: Bitcoin is not designed to fix the problem on wealth distribution.
right!
please i want to see a debate on this! i am very curious
legendary
Activity: 2268
Merit: 1278
January 03, 2014, 08:44:09 PM
#6
Keep in mind: Bitcoin is not designed to fix the problem on wealth distribution.
This has always been my first thought whenever the topic is brought up. Which is what makes me wonder why it does keep being brought up.
newbie
Activity: 41
Merit: 0
January 03, 2014, 08:39:02 PM
#5
Keep in mind: Bitcoin is not designed to fix the problem on wealth distribution.
legendary
Activity: 2268
Merit: 1278
January 03, 2014, 06:42:48 PM
#4
Why does wealth need to be distributed?
An-caps versus An-socs. Go go go.
Yeah it'l be another one of those. Still the question is interesting. Wealth not being evenly distributed is commonly seen as a problem and nobody really challenges it. Let's see where we can go with that.
full member
Activity: 120
Merit: 100
January 03, 2014, 06:39:09 PM
#3
Why does wealth need to be distributed?
An-caps versus An-socs. Go go go.
legendary
Activity: 2268
Merit: 1278
January 03, 2014, 06:38:13 PM
#2
Why does wealth need to be distributed?
sr. member
Activity: 308
Merit: 251
I like big BITS and I cannot lie.
January 03, 2014, 06:32:33 PM
#1

Does this mean that we won't see a more even distribution of wealth?

http://bitcoinexaminer.org/wealth-distribution-fiat-currency-vs-btc-infographic/?utm_medium=twitter&utm_source=twitterfeed


The people with the most existing resources will be able to secure the most BTC through mining. How will BTC resist the concentration of wealth?
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