What do you think about this comment ?

virtualx

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LOTEO

Quote from: OmegaStarScream on October 28, 2015, 02:55:26 PM

I was watching this video : https://www.youtube.com/watch?v=T_hBhymFfm8 then was checking the comments and I found this :

I'd like to hear from you and what do you think about this comment ? is he right or wrong (on the last part )?

Compare it with these fiat numbers, fiat wealth pyramid:

> $ 1 million : 0.7 %
$100.000 to $1.000.000 : 7.4%
$10.000 to $100.000: 21%
< $10.000: 71%

Bitcoins wealth is more spread among its users (if your data is correct).

johnyj

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Beyond Imagination

Quote from: OmegaStarScream on October 28, 2015, 02:55:26 PM

I was watching this video : https://www.youtube.com/watch?v=T_hBhymFfm8 then was checking the comments and I found this :

I'd like to hear from you and what do you think about this comment ? is he right or wrong (on the last part )?

This comment is totally wrong. The current system is obviously totally centralized: FED owns every USD that has ever been created, that is 100% of all the money supply. They just spent them so they don't hold them anymore, because they don't need to hold them, they hold assets instead, when they need they just print some

n691309

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Quote from: BillyBobZorton on December 06, 2015, 06:22:29 PM

Quote from: n691309 on December 06, 2015, 06:09:19 PM

It means that half of the bitcoins are held by less than thousand people which i think they can manipulate the price as they want am i right?

Yes, manipulation in bitcoin is really easy, but once more people enter the market it will be harder and harder, also those whales will naturally sell along the way and end up with less coins.

1.011 Million people (individuals) are using bitcoin which is a large number and maybe not real for my opinion, so the manipulation comes from the "big fishes"

BillyBobZorton

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Quote from: n691309 on December 06, 2015, 06:09:19 PM

It means that half of the bitcoins are held by less than thousand people which i think they can manipulate the price as they want am i right?

Yes, manipulation in bitcoin is really easy, but once more people enter the market it will be harder and harder, also those whales will naturally sell along the way and end up with less coins.

n691309

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It means that half of the bitcoins are held by less than thousand people which i think they can manipulate the price as they want am i right?

Btcforall

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Quote from: elite3000 on October 30, 2015, 07:10:35 AM

YouTube comments? Is there anyone who take YouTube comments seriously? Cheesy

Why? If there's something good or logical,even YouTube comments can be taken seriously.It is not the place where you put your views that matter,it is your opinion that counts

elite3000

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YouTube comments? Is there anyone who take YouTube comments seriously? Cheesy

doublemore

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Quote from: jaberwock on October 29, 2015, 10:34:36 AM

It is unavoidable, because early adopters will always have more power comparated to late adopters, no matter what you do.

It is worse with FIAT or with the Internet

Like anything else that starts early you have a few big share holders right. If people want to create their own coins nothing is stopping them unlike in fiat world. Its a better system overall.

lightenx

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Copied something from Business Insider, to get more attention to his channel. But I think he's right.

Lover of Coin

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Quote from: cohnhead on October 29, 2015, 05:54:37 PM

Will the halving of the block rewards always have such a great impact on the price of btc..or does the impact of the halving diminish each time as it has less and less effect on the total amount of btc that will become available? I cant imagine btc value would be doubling every 3-4 years for the next 135 years or so. also cant imagine what happens when that last incremental btc gets produced...what I can imagine there will be a party..and hopefully there will be pizza

After a few more halving, the effect of halving will diminish. The effect of miners' dump will be smaller. The wide adoption of bitcoin is more important.

cohnhead

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Will the halving of the block rewards always have such a great impact on the price of btc..or does the impact of the halving diminish each time as it has less and less effect on the total amount of btc that will become available? I cant imagine btc value would be doubling every 3-4 years for the next 135 years or so. also cant imagine what happens when that last incremental btc gets produced...what I can imagine there will be a party..and hopefully there will be pizza

Betwrong

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I stand with Ukraine.

Quote from: neurotypical on October 29, 2015, 02:52:09 PM

Quote from: zimmah on October 29, 2015, 02:24:15 PM

Quote from: Lover of Coin on October 29, 2015, 02:19:58 PM

Quote from: ?? on ??

It's still true that wealth disparity in bitcoin isn't good, but it's i think even have 1BTC makes you rich if everyone in this world use bitcoin.

If you own 1 bitcoin in the future, you are one of top 21 million rich person. So please hold and use your bitcoin to make bitcoin popular.

in reality you're much better off than that because several persons have thousands of bitcoin, leaving even less for the average joe.

Having 1 full bitcoin or more makes you quite rich compared to most others.

$300? it's a steal, even $3000 is way too cheap.

If bitcoin sees any success as a global currency it needs to be several orders of magnitude higher, there just aren't enough whole bitcoins for everyone to have one, and $300 is far too accessible for the average joe.

This a million times. But for some reason, people don't just understand this. They don't have a proper understanding of supply and demand. They can't see how the current marketcap is pathetically low and so is the price, it's microscopic. Wake up people, Bitcoin is cheap at 3 dollars, 300, and 3000. At 30k? Then we are talking something competitive. The opportunities to make mad bank with it are so high it's not even funny.

I agree. Now it's just too early for people to understand this. In the future all the people in the world will be using Bitcoin and maybe some other cryptocurrencies because of convenience and maybe some other reasons. It's just the matter of time.

neurotypical

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Quote from: zimmah on October 29, 2015, 02:24:15 PM

Quote from: Lover of Coin on October 29, 2015, 02:19:58 PM

Quote from: ?? on ??

It's still true that wealth disparity in bitcoin isn't good, but it's i think even have 1BTC makes you rich if everyone in this world use bitcoin.

If you own 1 bitcoin in the future, you are one of top 21 million rich person. So please hold and use your bitcoin to make bitcoin popular.

in reality you're much better off than that because several persons have thousands of bitcoin, leaving even less for the average joe.

Having 1 full bitcoin or more makes you quite rich compared to most others.

$300? it's a steal, even $3000 is way too cheap.

If bitcoin sees any success as a global currency it needs to be several orders of magnitude higher, there just aren't enough whole bitcoins for everyone to have one, and $300 is far too accessible for the average joe.

This a million times. But for some reason, people don't just understand this. They don't have a proper understanding of supply and demand. They can't see how the current marketcap is pathetically low and so is the price, it's microscopic. Wake up people, Bitcoin is cheap at 3 dollars, 300, and 3000. At 30k? Then we are talking something competitive. The opportunities to make mad bank with it are so high it's not even funny.

c789

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It is ridiculous how people are so obsessed with what other people have [cash, pretty wife, Bitcoin, nice car, etc.]

Envy only makes the observer unhappy and it leads to a host of other problems.

ebliever

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Of course bitcoin ownership is concentrated. So was Apple stock when it was a young company. Or anything else early in its life. And that fact is completely meaningless, unless all other wealth in the world magically evaporates. Since people can buy and sell bitcoin freely the fact that a fairly small number of people own most bitcoin at this moment in time has no real significance.

zimmah

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Quote from: Lover of Coin on October 29, 2015, 02:19:58 PM

Quote from: ?? on ??

It's still true that wealth disparity in bitcoin isn't good, but it's i think even have 1BTC makes you rich if everyone in this world use bitcoin.

If you own 1 bitcoin in the future, you are one of top 21 million rich person. So please hold and use your bitcoin to make bitcoin popular.

in reality you're much better off than that because several persons have thousands of bitcoin, leaving even less for the average joe.

Having 1 full bitcoin or more makes you quite rich compared to most others.

$300? it's a steal, even $3000 is way too cheap.

If bitcoin sees any success as a global currency it needs to be several orders of magnitude higher, there just aren't enough whole bitcoins for everyone to have one, and $300 is far too accessible for the average joe.

Lover of Coin

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Activity: 38

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Quote from: ?? on ??

It's still true that wealth disparity in bitcoin isn't good, but it's i think even have 1BTC makes you rich if everyone in this world use bitcoin.

If you own 1 bitcoin in the future, you are one of top 21 million rich person. So please hold and use your bitcoin to make bitcoin popular.

cohnhead

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one thing to consider is when wealth is held as fiat, it looses value overtime due to inflation. So the natural incentive is to spend (before you loose purchasing power) or invest to try earn more than the rate inflation.
Bitcoin on the other hand , by its design, theoretically gains value over time. So holding them for perpetuity does not penalize the holder with any loss of value.

pilscoop

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Don't trust everything you read on the internet, specially if it's on a youtube comment

Corealz

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The wealth distribution is very uneven in real life too! Some of those old bitcoins may have been lost by eary adopters as well.

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