Topic: Is Bitcoin the biggest wealth distribution system ever? (Read 710 times)
Yes. This is where bitcoin will shine the most giving emerging markets equal access to money no more emerging market currency basket
The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
i agree with your assessment, but we differ on how we see value. there isnt a set amount of value in the world; value can be created seemingly at random (observe the bch fork). vlaue is speculative in most cases, people pay what they think something is worth, not its actual intrinsic value. so while i concur that mostly upper class folks have benefited from bitcoin, it has massively redistributed the proportion of value by giving it to the lower and middle class folks that were fortunate enough to learn about btc
I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.
Yes bitcoin is providing people to get wealthy in very short time and meet their financial needs. People are getting obsessed with bitcoin due to the fact that it is quick and easy to be transferred and gives high output. It is helping people to earn and meet their financial needs, if even they are not having a regular job. So yes bitcoin is the biggest wealth distribution system ever. I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.
Yes the bitcoin is able to pay the bills of the bitcoin but now all the people are having the bitcoin and they are now making the bitcoin go more and more high. Bitcoin made the wealth distributing at the same rank and the power now all the poor people are able to have the things that the rich people use to buy and they hold so the bitcoin is the best thing I hope the bitcoin will increase the power for the people now very soon.
Bitcoin has very good future and it is an awesome field to invest on.
It went 1000% up in last 12 months. Even if you bought BTC a year ago, you would have x10 times investment by now.
It went 1000% up in last 12 months. Even if you bought BTC a year ago, you would have x10 times investment by now.
I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.
Even share traders also become millionaires and billionaires overnights. IF BTC is wealth distribution system why not Stock market. Rising price of BTC not a glory or something, it is just a demand and supply theory. As supply of BTC is limited and Demand is keep on increasing Day by day, therefore, its price is rising continuously.
I must say that when it comes to technology bitcoin can be considered as a great way on the contribution of wealth thru online. I agree that it has been able to make poor and rich people become part of it an be able to earn and enjoy the profit of bitcoin thru their hardships and consistency. Bitcoin may look simple for some but when you actually dedicated yourself into it you will see and experience that it also take some time and effort to earn something from it. What we must do now is show more positive things that bitcoin can do for it to be greater on distributing of wealth to each and everyone of us.
I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.
I agree that Bitcoin as a digital or virtual currency, it has the ability to be distributed worldwide but with the limited resources for computer illiterate or not yet computer civilized. Also, bitcoin is wealth. It's volality turns out be be a fortune and definitely within wide use already.
But the sense that you are pointing out is that not everyone benefits from it because not everyone knows it yet. And another example is in my country, culture are preserved that is why we can not say that remote areas could probably reach this kind of currency.
Maybe there are other ways to make an equal or wider distribution. For years, it is not yet clearly done but there are always possibilities.
But the sense that you are pointing out is that not everyone benefits from it because not everyone knows it yet. And another example is in my country, culture are preserved that is why we can not say that remote areas could probably reach this kind of currency.
Maybe there are other ways to make an equal or wider distribution. For years, it is not yet clearly done but there are always possibilities.
The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
I would say yes it has. However, it is not a shift from the wealthy in the fiat system to the poor. It is from paper based level to intellectual level. It has succeeded in shifting wealth to those who are Internet suavy. Many people who have keyed into what Bitcoin is are those who have an awareness of what bitcoin is and are Internet compliant.
Bitcoins with over a hundred million users is successful in distributing wealth in many ways.
For everyone definition of wealth distribution is different since they choose to consider different aspects.
What I feel is.. if someone brought bitcoins when the price was like a dollar or two.. and if they kept it for longer haul then obviously the growth in their wealth is tremendous right now , there have been many such cases where people became millionaires because of luck and offcourse bitcoins.
At the same time its enabling the common community to earn and in fact its opening options for trading and minning for different people thus it for sure has distributed the wealth thus I would say yes.
For everyone definition of wealth distribution is different since they choose to consider different aspects.
What I feel is.. if someone brought bitcoins when the price was like a dollar or two.. and if they kept it for longer haul then obviously the growth in their wealth is tremendous right now , there have been many such cases where people became millionaires because of luck and offcourse bitcoins.
At the same time its enabling the common community to earn and in fact its opening options for trading and minning for different people thus it for sure has distributed the wealth thus I would say yes.
I quite agreed with Eugene mutai that bitcoin is a wealth distribution system, personally since I started training myself in cryptocurrency system I had also benefitted from the wealth generated by bitcoin by offering services and earning extra income to my monthly salary, although the wealth generated by bitcoin might not be equally distributed but it offers opportunities to peoples from any part of the world to benefit from it.
He has a point. His basis of saying that Bitcoin is the biggest wealth distribution system ever is its ability to break down financial barriers, as per this quote:
He's basically saying that to some degree, Bitcoin and other cryptocurrencies help narrow the gap between rich people and poor people in terms of opportunities. While rich people still have the upper hand because they have more money they can invest, poor people are free to ride the wave with whatever little money they have.
Quote
Mr. Mutai describes cryptocurrency as a global economic equalizer capable of circumventing the barriers that prevent ordinary citizens from accessing financial markets.
He's basically saying that to some degree, Bitcoin and other cryptocurrencies help narrow the gap between rich people and poor people in terms of opportunities. While rich people still have the upper hand because they have more money they can invest, poor people are free to ride the wave with whatever little money they have.
depending on our perspective. Bitcoin has provided for everyone who uses it some money, they can all make use of it by earning, money but from my point of view, Bitcoin has brought wealth to some people. At least that's what I think they will always be the most beneficiaries when investing primarily on bitcoin investments because they have money to invest and reap even greater profits.
The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
It's not distributing wealth. It's not giving benefits to the poor people of Africa or Assia. It's very similar to any other economical instrument. You can't expect economical instrtuments to distribute wealth for free globally.
The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
Bitcoin never generated anything, Bitcoin don't have an industry as of now. Well some of the fiat currency was just moved to other persons because trading the coin but the coin itself don't have a value yet. That is why it is best to invest on it while it is on this phase.
Oh course not. Once the wealthy noticed what was going on, they bought warehouses filled with bit-coin miners. No poor or middle-class person could do that.
They are and will always be the most beneficiary when it comes especially to investing bitcoins because they have the money to invest and reap the profits from it. The poor are lucky to have a piece of the pie even though it's a small piece of the pie but I think we will make do of that. Until we get money to invest even more.
It made rich a lot of people, but think about it, if you bought like 100 bitcoins on the past, you should not be able to withdraw them right now because that is more than 700 thousand dollars and it is almost impossible to withdraw them for a bank or from any other way, not even those big companies are able to withdraw such that amount of money.
And the same applies to those who are holding more than thousands of bitcoins, this is the bad side of bitcoin, maybe you have a lot of money, but you can not spend it..
And the same applies to those who are holding more than thousands of bitcoins, this is the bad side of bitcoin, maybe you have a lot of money, but you can not spend it..
The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
I say "NO!"
Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.
I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.
It will take far longer to do the latter. What you're talking about requires a massive devaluation of fiat against all commodities/stores of value, not just Bitcoin and other cryptocurrencies.
The rise of cryptocurrencies as a new asset class means a major transfer of wealth, assuming they become economically relevant (comparable to the market caps of major commodities). If Bitcoin were to achieve e.g. 10% of the market cap of gold, that money has to come from somewhere, and presumably it would come from the devaluation of fiat wealth.
Because we are so early in terms of adoption (meaning there is a lot of room for growth), investors in developing countries and poor people generally could see drastic gains and improvement to their living standards. This is because they can ride on the coattails of institutional investment from places like the US. Where living costs are much lower, the potential gains from cryptocurrency investment go much further.
They're mentioning a miner who became wealthy. It seems like common sense that if a miner or investor does something profitable in BTC, its profitability is proportionate to the amount of money that they put in. That's pretty much the case in every investment.
If BTC was regarded as a "wealth distribution system", it would be a pretty horrible system. That would just be a "make everybody rich system".
Actually, I'd argue that BTC's current state is resulting in an uneven wealth distribution system. Increases in price can result in whales (who usually get in earlier) exponentially getting wealthier, especially if they're capable of manipulating the market.
In the case of mining, having more money allows you to have more efficient facilities, which in turn results in greater profits proportionately to the money you invested.
If BTC was regarded as a "wealth distribution system", it would be a pretty horrible system. That would just be a "make everybody rich system".
Actually, I'd argue that BTC's current state is resulting in an uneven wealth distribution system. Increases in price can result in whales (who usually get in earlier) exponentially getting wealthier, especially if they're capable of manipulating the market.
In the case of mining, having more money allows you to have more efficient facilities, which in turn results in greater profits proportionately to the money you invested.
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