Richest 2000 People richer then poorest 4.6 billion - page 6.

smyslov

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Quote from: nickenburg on January 20, 2020, 11:34:28 AM

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

This is inevitable, the rich will get rich, and the poor will stay poor or become poorer, because of the economic structure of so many countries where only the few owns the majority of the countries resources and wealth, one example is my country, the only way to combat poverty is education and Cryptocurrency can help those lesser, but of course it is also subject to the rich's manipulation.

Eclipse26

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Richer people are much easier to earn money. They can easily double or triple their money with a short span of time while poor people takes year to uplift themselves from the hardship. Others can't even... If you compare it to the people in the lower class, the one who barely eat three times a day, the Gap is much bigger.
Bitcoin, those in the lower or middle class can find a place in crypto if they know how to do things and if they're willing to invest. Everyone has the opportunity to invest in Bitcoin but since they're in the poor family, it's harder for them to invest the remaining small amount of money they have, and put it in the risk.

d.kevin29

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Quote from: mu_enrico on January 21, 2020, 12:09:13 AM

-snip

And no, Bitcoin will not solve economic problems. It might help though to push economic freedom.

Actually, it could solve some economic problems we're currently facing. The only reason it doesn't yet is because it's not only still in its infancy, but adapting to the way Bitcoin works is way harder than we believe. We obviously cannot see the difficulty of it because we already know how to use it & how it works (or at least a part of us, BTCTalk members), but you can clearly see it as soon as you try to tell somebody who has never been in this market before about Bitcoin.

There's also another issue: Bitcoin will never become a national cryptocurrency. Decentralization will probably never happen, only an illusion of it projected by the future economic system. Bitcoin might not turn us into the financial freedom we deserve to live into, but the world is surely being changed by it as we speak.

leyton11

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Quote from: nickenburg on January 20, 2020, 11:34:28 AM

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

Wealth is not shared in this present world, our people are increasingly selfish and no one wants to sacrifice their whole life to share their wealth with the poor. in fact this is also a correct rule, society will have rich and poor, then the division will take place. The rich are often those who work hard and learn, while the poor are often lazy and do not want to overcome fate. so it is not fair that the bitcoins are shared for the poor, simply because they are not worthy. Never expect justice in this life. if it's fair then people don't have to work hard to become rich and seize power. This society has only the power and the weak, fair is a fitting and though not real.

blckhawk

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You can't divide what's already given. Bitcoin is not immune to inequality, and it never aimed to be. Largest bitcoin market holders manipulate the market. You can't redistribute the funds because altering the blockchain is almost impossible. It's just that the inequality in Bitcoin is not caused by unreasonable taxes and fees, and corrupt practices, but it's just the way it is, since from the beginning when early miners got a hold of large block rewards.

mu_enrico

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Slots Enthusiast & Expert

This is my favorite quote regarding inequality.

Quote

"A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both."
― Milton Friedman

https://www.goodreads.com/author/quotes/5001.Milton_Friedman

Hence, there is no benefit in trying to address inequality directly. It will be solved naturally if society has a high degree of economic freedom via the pursuit of self-interest.

And no, Bitcoin will not solve economic problems. It might help though to push economic freedom.

ashmodeus

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that the true fact of the world,while people still often drop each other,no wonder richest people will be more richer and poor people will be poorest forever.

Quote from: nickenburg on January 20, 2020, 11:34:28 AM

but do you think Bitcoin is more fair devided then the current money system?

just because Bitcoin is decentralized , it will be more fair for me than current money system. as long they have access to internet,they can find a job by bitcoin as a payment,and its will be more fair since its doesn't required anything personal info,just by skill.

Quote from: nickenburg on January 20, 2020, 11:34:28 AM

What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

basically dividing a cryptocurrency to the whole world its doesn't change anything,poor people will sell it immediately when it have a value,then who buying it will be give a small of wealth to the seller,but as the time goes a buyer will be more wealthy,and we back to richest poorest people scheme. because basically wealth is relative thing.

MinerHQ

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Quote from: btcmurat on January 20, 2020, 04:29:08 PM

We encounter brutal facts. Income injustice is the biggest problem. Will Bitcoin or cryptocurrency offer a solution to this? I do not know. Who are Bitcoin whales? There is no other solution for now. Bitcoin aroused excitement.

I don't think bitcoin is the solution for it because here also big players like minors, exchange owners or some early adaptors still holding a large number of coins. Most of the small investors are worried about the price fluctuations and most they will book small profits.

KnightElite

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Quote from: CryptoBry on January 20, 2020, 09:32:12 PM

Quote from: nickenburg on January 20, 2020, 11:34:28 AM

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers. It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men. How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system? What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

The divide between the rich and the poor is not anymore shocking to me. That has had been going on since time immemorial and in our modern world the same thing has been affecting many people. When you have the money, you have the resources that you can use to produce more money and without it then you can be condemned to a hand-to-mouth existence, if not no-food situation. The more money you have, the more money you can make and the same is true on the reverse. Now, with this reality on the backdrop, can Bitcoin do something about it? The answer is a big no as Bitcoin is not an anti-poverty measure, asset or a platform. In fact, I think the same thing is happening with Bitcoin, only a few people or entities control the majority of the coins, though the most important thing is that we have the opportunity to buy one if we have the money. You can distribute all of cryptocurrencies to the poor but at the end of the day it will never be making a big impact. Education is the key, as the primary source of empowerment of the people so they can start to stand on their own feet.

There should be balance in terms of socioeconomic status. The balance is that I'm saying is about the numbers of poor, middle class and rich. Not everyone should be rich, not everyone should be poor and not everyone should be in the middle class. The balance is like a pyramid where the upper part is the rich people where the percentage is only small, the next part is the middle class where the percentage is in average and the lower part of the triangle are the poor where the number is too many.

Rich people are in the top of the ladder because they know how the market works. Unlike the middle class and the poor do not understand how market works. Poor and middle class are working for money while the rich people are focusing on how money works for them.

CryptoBry

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Quote from: nickenburg on January 20, 2020, 11:34:28 AM

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers. It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men. How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system? What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

The divide between the rich and the poor is not anymore shocking to me. That has had been going on since time immemorial and in our modern world the same thing has been affecting many people. When you have the money, you have the resources that you can use to produce more money and without it then you can be condemned to a hand-to-mouth existence, if not no-food situation. The more money you have, the more money you can make and the same is true on the reverse. Now, with this reality on the backdrop, can Bitcoin do something about it? The answer is a big no as Bitcoin is not an anti-poverty measure, asset or a platform. In fact, I think the same thing is happening with Bitcoin, only a few people or entities control the majority of the coins, though the most important thing is that we have the opportunity to buy one if we have the money. You can distribute all of cryptocurrencies to the poor but at the end of the day it will never be making a big impact. Education is the key, as the primary source of empowerment of the people so they can start to stand on their own feet.

aoluain

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Quote from: 1Referee on January 20, 2020, 04:54:43 PM

I always laugh at articles like these. Not because the wealth inequality, but because people don't understand what the actual problem is, and that crypto will never make a difference. In fact, crypto wealth inequality is far worse than fiat wealth inequality. By the time the poor acknowledge the value of Bitcoin, most of the upside potential is already jammed in the price.

Don't look at how poor others are, but look at how you can improve your own situation. The far majority of the people will always lag behind the rich when it comes to their wealth, so even if there is an actual improvement on the side of the poor, it's still not enough to statistically push back the wealth % the rich owns. Their wealth grows harder than yours does. That's how things are.

Correct, the "upside potential" is decreasing every day as the FIAT
value rises, and rises out of reach of more and more people.
The time for poorer people to own Bitcoin is long gone at least any
meaningful amount.

1Referee

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I always laugh at articles like these. Not because the wealth inequality, but because people don't understand what the actual problem is, and that crypto will never make a difference. In fact, crypto wealth inequality is far worse than fiat wealth inequality. By the time the poor acknowledge the value of Bitcoin, most of the upside potential is already jammed in the price.

Don't look at how poor others are, but look at how you can improve your own situation. The far majority of the people will always lag behind the rich when it comes to their wealth, so even if there is an actual improvement on the side of the poor, it's still not enough to statistically push back the wealth % the rich owns. Their wealth grows harder than yours does. That's how things are.

btcmurat

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We encounter brutal facts. Income injustice is the biggest problem. Will Bitcoin or cryptocurrency offer a solution to this? I do not know. Who are Bitcoin whales? There is no other solution for now. Bitcoin aroused excitement.

gentlemand

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Quote from: aoluain on January 20, 2020, 04:06:50 PM

If poor people have nothing there are no ways to acquire Bitcoin.

The key is earning in Bitcoin.

That's what gets people excited about it. As it stand some wee genius in rural Niger is going to have a seriously hard time monetising his skills and presenting them to the rest of the world. With Bitcoin and an internet connection he can instantly compete with anyone else anywhere.

To a much smaller extent we see that with people earning on this forum right now with signature campaigns and all the other stuff. They're now part of an economy that didn't exist before and some of them will be making much, much more money than any job available to them locally.

aoluain

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Quote from: Febo on January 20, 2020, 03:09:44 PM

Quote from: nickenburg on January 20, 2020, 11:34:28 AM

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

Point of bitcoin is elsewhere then who owns it now. Point is that is permissionless. So everyone can use it. That is not the case with traditional banking. Unless you live close to the bank and unless they agree to service you you cant use it. So Bitcoin makes everyone have a chance. This is the main innovation.

I disagree softly!

If poor people have nothing there are no ways to acquire Bitcoin.

There was a time in the early stages of the Bitcoin development
where it was possible to mine large quantities of Bitcoin with a
standard computer with good specs.

I hate to say it but those with the greater amount of disposable
income and funds to invest can become wealthier, this includes
buying Bitcoin.

Buying or earning bitcoin are the only ways of acquiring it outside
mining. So if you dont have any money you cannot buy and for those
who are poor and have some possessions they will most likely be sold
in order to survive.

Unfortunately Bitcoin alone wont offer poor people an opportunity
out of poverty, it will take something else to start the process like
education, employment and development.

Here is an interesting wiki on "The Poverty Cycle" > https://en.wikipedia.org/wiki/Cycle_of_poverty

Quote

Families trapped in the cycle of poverty, have either limited or no resources.
There are many disadvantages that collectively work in a circular process
making it virtually impossible for individuals to break the cycle.

Febo

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Quote from: nickenburg on January 20, 2020, 11:34:28 AM

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

Point of bitcoin is elsewhere then who owns it now. Point is that is permissionless. So everyone can use it. That is not the case with traditional banking. Unless you live close to the bank and unless they agree to service you you cant use it. So Bitcoin makes everyone have a chance. This is the main innovation.

gentlemand

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Quote from: Xxmodded on January 20, 2020, 12:05:16 PM

Do you have ideas how possibility for richest person above 100 person want to make bitcoin become with higher price, I think when 100 richest person want to be as investors with bitcoin and altcoin they can make fantastic time with bitcoin back to unbelivable price because they can make bitcoin touch with higher price and make supply bitcoin increase limited.

Can you repeat that in a known language?

If it were used for actual commerce worldwide I can imagine it would lift a considerable number of people from grinding poverty who otherwise wouldn't be able to participate in online economies. But Bitcoin won't change much in terms of the overall distribution of wealth at the extreme of either end.

Online economies are lorded over by people at the top who'll keep swelling. There'll always be whales. There'll always be peons. The best we can hope for is a slight softening.

Xxmodded

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Do you have ideas how possibility for richest person above 100 person want to make bitcoin become with higher price, I think when 100 richest person want to be as investors with bitcoin and altcoin they can make fantastic time with bitcoin back to unbelivable price because they can make bitcoin touch with higher price and make supply bitcoin increase limited.

nickenburg

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Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

Topic: Richest 2000 People richer then poorest 4.6 billion - page 6. (Read 1323 times)