If you think about it, the wealth would be not be distributed to poor but would be redistributed from those who hold stocks, real estate and fiat to those who hold lots of bitcoin. In essence nothing would change for average man but the FIAT rich would suffer the most.
A wise analysis, especially when we take into consideration the fact that bitcoin is independent to the fiat side of things. Still, we can't really expect the poorest of the poor to be able to invest in bitcoin, if only there is a subsidy program they can take in order to be able to taste the profits in bitcoin as well. 
Topic: "What happens if bitcoin succeeds?" - page 2. (Read 563 times)
If the current system of hierarchy persists, then of course bitcoin could cause a greater divide between the rich and the poor, and us middleclassmen will be the ones who will be impacted most from this. Now, Bitcoin offers profitability regardless of how much you put in the system. Thus, this puts the rich and the poor on equal footing with respect to the chances in profits, Hopefully this is sufficient in whittling the current rich and poor people scenario most of us face right now.
If you think about it, the wealth would be not be distributed to poor but would be redistributed from those who hold stocks, real estate and fiat to those who hold lots of bitcoin. In essence nothing would change for average man but the FIAT rich would suffer the most.
In the end, fiat will be fully displaced, as the success of bitcoin becomes a self-fulfilling prophecy (Aizenman 2019, Auer and Claessens 2018). There is, however, a contradiction in this scenario. If bitcoin becomes the money we use in our daily lives, it must also become a unit of account.
A lot of things to consider and a lot of things must be improved for Bitcoin to be able to function as a currency to be primarily used. Displacing fiat is close to impossible, co-existinf with different kinds of currency is the most possible scenario.
Bitcoin success doesn't only mean It will take over and totally displace fiat, but to grow as It how It was created and it's purpose; to eliminate the use of a third party when transacting from one and another and to make a huge adoption.
If bitcoin succeeds in being accepted in all countries, it can help people have a new source of income, and while we are still at the pandemic, they can try to make money from crypto/bitcoin. Although it is not easy to do, I am sure people will figure out how they can make money, and they will not give up before they can make their first time money in bitcoin.
Perhaps, the risk of bitcoin will still fluctuate as what we see now, but there will be more chances for people to make money. Yes, the current bitcoin holders will be the richest people among the others, but it can open many people to have that chance. Bitcoin succeeds in increasing the price now, although we see the price is volatile.
Perhaps, the risk of bitcoin will still fluctuate as what we see now, but there will be more chances for people to make money. Yes, the current bitcoin holders will be the richest people among the others, but it can open many people to have that chance. Bitcoin succeeds in increasing the price now, although we see the price is volatile.
I stumbled upon the article "What happens if bitcoin succeeds?" in which John Danielsson, Director of the Center for Systemic Risk at the London School of Economics, argues that the inequality between rich and poor will be further exacerbated.
https://voxeu.org/article/what-happens-if-bitcoin-succeeds
So what are the risks of bitcoin going forward? Is it really capable of seriously dividing society and causing even greater inequality?
If many people missed the train it does not mean that it is a bubble or catastrophic event for the future. It is undeniable that fiat currencies will be used concurrently with cryptocurrencies. The central government will issue their digital currencies and they will be cryptocurrencies but centralized. The only purpose of the article is that they want to scare people with conspiracy theories to stop them from using cryptocurrencies because if crypto holders sell, then the wealth people will buy and possess the significant part of the cryptos. https://voxeu.org/article/what-happens-if-bitcoin-succeeds
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That leaves us with two interesting questions. What happens to the holders of bitcoin? And what happens to everybody else?
To begin with, the current owners of bitcoin will become the wealthiest people in the world, rivalling the kings and emperors that ruled over empires in centuries past. They literally will own all the money. They can buy anything they want. There aren't that many of them. Compared to the multitudes that own assets today via all the pension funds and mutual funds and the rest, it is a tiny group of people.
So, a sharp increase in inequality is an inevitable consequence of bitcoin success. And unlike the richest people of today – the Jeff Bezoses and Elon Musks, whose wealth comes from creating companies that benefit most of us – the bitcoin aristocrats will get their rank just by buying early. They will make no contribution to society.
And again, these conclusions are that bitcoin is a bubble, and because it is volatile, it will not be able to equalize with money.To begin with, the current owners of bitcoin will become the wealthiest people in the world, rivalling the kings and emperors that ruled over empires in centuries past. They literally will own all the money. They can buy anything they want. There aren't that many of them. Compared to the multitudes that own assets today via all the pension funds and mutual funds and the rest, it is a tiny group of people.
So, a sharp increase in inequality is an inevitable consequence of bitcoin success. And unlike the richest people of today – the Jeff Bezoses and Elon Musks, whose wealth comes from creating companies that benefit most of us – the bitcoin aristocrats will get their rank just by buying early. They will make no contribution to society.
So what are the risks of bitcoin going forward? Is it really capable of seriously dividing society and causing even greater inequality?
I stumbled upon the article "What happens if bitcoin succeeds?" in which John Danielsson, Director of the Center for Systemic Risk at the London School of Economics, argues that the inequality between rich and poor will be further exacerbated.
https://voxeu.org/article/what-happens-if-bitcoin-succeeds
And again, these conclusions are that bitcoin is a bubble, and because it is volatile, it will not be able to equalize with money.
So what are the risks of bitcoin going forward? Is it really capable of seriously dividing society and causing even greater inequality?
https://voxeu.org/article/what-happens-if-bitcoin-succeeds
Quote
That leaves us with two interesting questions. What happens to the holders of bitcoin? And what happens to everybody else?
To begin with, the current owners of bitcoin will become the wealthiest people in the world, rivalling the kings and emperors that ruled over empires in centuries past. They literally will own all the money. They can buy anything they want. There aren't that many of them. Compared to the multitudes that own assets today via all the pension funds and mutual funds and the rest, it is a tiny group of people.
So, a sharp increase in inequality is an inevitable consequence of bitcoin success. And unlike the richest people of today – the Jeff Bezoses and Elon Musks, whose wealth comes from creating companies that benefit most of us – the bitcoin aristocrats will get their rank just by buying early. They will make no contribution to society.
To begin with, the current owners of bitcoin will become the wealthiest people in the world, rivalling the kings and emperors that ruled over empires in centuries past. They literally will own all the money. They can buy anything they want. There aren't that many of them. Compared to the multitudes that own assets today via all the pension funds and mutual funds and the rest, it is a tiny group of people.
So, a sharp increase in inequality is an inevitable consequence of bitcoin success. And unlike the richest people of today – the Jeff Bezoses and Elon Musks, whose wealth comes from creating companies that benefit most of us – the bitcoin aristocrats will get their rank just by buying early. They will make no contribution to society.
And again, these conclusions are that bitcoin is a bubble, and because it is volatile, it will not be able to equalize with money.
So what are the risks of bitcoin going forward? Is it really capable of seriously dividing society and causing even greater inequality?
This is something that some people are already achieving with Bitcoin's current value and yes, their contribution would be questioned because all they were doing was investing at the perfect opportunity. Its also possible that in the near future, governments would take an interest with this matter because having someone so rich in a third-world country will pose as a threat to them but having Bitcoin in an advance country is not much of a threat since some people believe that Cryptocurrency owners will take a long time before overtaking people with businesses but that is not the case for Third-world countries.
I believe Bitcoin moving forward will have its pros and cons and with those not being realized by the governments is a huge threat for them and they might create rash decisions that would hurt Cryptocurrency users greatly in the future if this continues.
Does using bitcoin in betting is actually worth it? I am new with this betting stuff and I am always wondering where to start since I am a little skeptic when it comes in spending my money. I have bitcoin but I couldn't know if this is worth since conversion is quite high. https://[Suspicious link removed]/2OzcAtC
No doubt that bitcoin success will lead to a sharp increase in inequality. We can already observe how the richest people invest their millions/billions in Bitcoin and how they become wealthier because of BTCs growth while ordinary traders can’t afford themselves such a luxury purchase. However despite the fact that BTC is still not realized as a form of currency because of its volatility once everything can change. But if Bitcoin is a bubble than it’s the biggest bubble the world had ever seen.
Bitcoin will not further broaden the gap between the rich and the poor for the reason that Bitcoin is open and available for all as long as you have the capacity to have an access on it. The capability to be rich coming from poor have an open possibility depending upon their effort being exerted and same thing applied to the rich ones. Bitcoin is not a one sided body to get along only for the rich. Yes rich people can do afford it but it does not guarantee that it will broaden the gap or boundaries between the two. It is still depending on how they manage to get along with Bitcoin making them improve their life to the full extent possible.
Bitcoin will be known as a new payment system globally, and people will have their own choice to pay using bitcoin or fiat. Besides new payment systems, bitcoin will have other benefits: bitcoin can be a new investment type for people who want to diversify their money. Maybe the government thinks that bitcoin is a threat for their fiat, but if they can open mind about bitcoin, they can use bitcoin works together with fiat, and I think people will be happy to see their investment can grow in the future. Bitcoin is bitcoin, fiat is fiat, and people will have their way to use bitcoin or not and the government can not force them not to use bitcoin.
Bitcoin is for everyone, you can invest, trade on it as long as you want but if you dont then go, those who hodls huge amount of bitcoin and if one day bitcoin succeeds all those people that are hodling bitcoin would earn huge amount of money, actually we cant still define bitcoin as fully successful because it is not still well known all over the world. I will define bitcoin as successful if all the countries are exploring it and by that for sure bitcoin would go so high.
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And unlike the richest people of today – the Jeff Bezoses and Elon Musks, whose wealth comes from creating companies that benefit most of us – the bitcoin aristocrats will get their rank just by buying early. They will make no contribution to society.
Yeah,right.The companies of Elon Musk ain't benefiting me in any way.I don't own a Tesla and don't get any benefit from a space company.I don't get any benefit from Amazon as well,because I don't shop there.
The rich people aren't obligated to contribute to the society.This is some bullshit socialist idea.
Bitcoin isn't required to be equally divided among as many people as possible.This is some egalitarian leftist bullshit.
Bitcoin is not reserved for the elites, bankers, and the royals. You, me, and everyone else have a choice to invest in it or not. This forum proves that you can earn Bitcoin even without investing by providing a valuable service, advertising, etc. Bitcoin will not create inequality in the world, we already had that before. It might not make you filthy rich, but it can help many people to afford things they otherwise wouldn't be able to purchase.
We could say that bitcoin is not reserved for those at the top but with the current prices, it is getting true day by day. The people at the top can afford the price at any given time and those below them will have to make do with what they can afford and those at the lowest aren't even aware or doesn't have any opportunity to learn about bitcoin. So yeah, I disagree with you that bitcoin is not reserved for the elites. I do agree with you about the inequalities, this has been a thing even before the age of Internet. 
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In my own thoughts if bitcoin succeeds, Bitcoin will still be a cryptocurrency without threatening other fiat currencies. It will be the same for bitcoin but in a huge amount of value. Also, when bitcoin succeeds, some of the altcoins will also succeed because more and more people adapt and accept crypto as a part of the traditional trading market. It won't divide society that much because in the near future I believe that we all use digital currency for our daily life.
Everyone will be happy. Even today I feel like bitcoin is making my economic life more stable. I don't think it's the end, but the beginning. Bitcoin has just entered several major institutions. I think in the next 5 years there will be one big country that will really make bitcoin as a balance sheet to make people believe more about this, and there will be many who succeed when they get to know bitcoi earlier.
A sharp increase in inequality is an inevitable consequence of bitcoin success.
an article that talks about price all the time and calls that "success" is not worth reading in my opinion. bitcoin's success is not about what price level it is going to reach, the price is only the byproduct of the actual success which is defined as how decentralized bitcoin is and in short how much did it stick to the basic principles that are defined for it
https://en.bitcoin.it/wiki/Principles_of_Bitcoin
https://en.bitcoin.it/wiki/Principles_of_Bitcoin
That's perhaps what some of us believe. Most investors atm, especially those spamming HODL everywhere, are mostly interested in Bitcoin for its price rising. Its value as an investment cannot be a means to an end. Currently, Bitcoin is mostly just severe wealth redistribution. Most general investors, when pressed, end up accepting its issues in practical use and make clear their belief Bitcoin is some "store of value", and believe that's sustainable or practical. I don't think it is.
The world is of no balance, we should not be afraid of coming outcomes, we should probably proceed because the world is moving to digital world, we like or we do not like. Has the world is going, bitcoin will becoming more decentralized as it is decentralized from the beginning since 2009. Whales are just also will be helpful, institutions are joining, other single whales will have companies and if such will happen as time goes. All those exchange owners, miners manufacturers, wallet producers, did you think they are not whales or ones of the whales before, also are the gracescale managers. We should not panic but support cryptocurrencies.
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