Will bitcoin change the distribution of wealth in the world? - page 14.

haroldtee

sr. member

Activity: 644

Merit: 299

Quote from: RavenHood on October 28, 2017, 05:26:00 AM

In my opinion it can change, but a little bit. Because if you know bitcoin you have an internet and some extra money to sustain or try bitcoin; you are in the middle level of wealth. If you are in a lower grade of wealth, you will not have an attention to try bitcoin at all, yes you heard bitcoin. But you are not willing to try it, because you want an permanent or regular job.

There is a difference between in the world generally and changes that comes to someone personally. So many people do not even have the infrastructure or let alone get information on what bitcoin is all about. Distribution of wealth will only be limited to early adopters and as time goes on, it keeps reducing and reducing until it gets to the point that some people will still end up in the lower chain. You cannot compare your wealth to someone who adopted in 2009/2010 and so on as the years keep increasing.

lvincent

full member

Activity: 294

Merit: 102

Bitcoin really helps me a lot but i think bitcoin will not gonna move or act on it's own it always depends on the person if he will gonna have a large profit i don't think there is equal in this world it is always unfair but it is always in your hands if your gonna be succesful and wealthy. There is alwayd different outcome for every people here so i don't think there will be a equal distribution..

Funeral Wreaths

full member

Activity: 177

Merit: 100

Quote from: MinMan on October 30, 2017, 01:34:35 AM

Quote from: palle11 on October 28, 2017, 04:06:31 AM

Quote from: jmarkrodriguez on October 21, 2017, 10:24:17 AM

We want better education, better healthcare, better everything and yet our very money does not allow for these things. Our money, enforced by our governments, is what holds us back more than anything. Real economics is not allowed to take place in our current world. But Bitcoin is changing that. And if governments are unable to stop Bitcoin, which it will be very difficult to do, then we are in for a life changing world in the near future. Just as how the Internet removed the lies of religion and government, so too will Bitcoin remove the chains of government.

Bitcoin with all its paraphernalia of positivity as to why users adopt it like - removing the chains of government, decentralization etc, it can't distribute wealth equally but can only create avenue for new wealth creation which people who see the vision can become rich and others who don't or who still see it as a bubble and waiting for it to burst; thus people already invested losing their money , would keep being backwards in the distribution.

This is synonymous to what happened in the early adopters

If we look at the positive e features of bitcoin, then there will be long list which we’ll get in result. Bitcoin is indeed a wonderful thing world has ever seen. Bitcoin is indeed very much capable of changing the distribution of wealth across the globe, in fact bitcoin is changing the distribution of wealth as there are so many poor and unemployed who are earning a very good amount of money just because of bitcoin.

yes i should say so. In fact if you just work as hard for it, then you can have or acquire bitcoin, and there are also lots of stuffs you can do about it, with a lot of learnings and knowledge, you can have alternate ways of multiplying your bitcoin, but it will take a long due of process, but at least you got a chance.

pearlmen

sr. member

Activity: 322

Merit: 250

In my own opinion of bitcoin, one of the major grouse against it is on the basis of distorting the current order where the poor are at the mercy of the rich and with bitcoin on board, a lot of that will change with people having control of their money rather than being forced to put in the bank, put some restrictions in other to make the fund available for the rich to borrow and continue to improvise the poor while they become richer.

sana54210

legendary

Activity: 3276

Merit: 1128

Quote from: panju1 on October 28, 2017, 03:20:26 AM

Quote from: waynechong1995 on October 28, 2017, 12:00:30 AM

I think i wouldn't be fair as long people stays the same mindset is how was it now. Like how stock market works Bitcoin would be eventually stocked up by another more wealthier side as they have much more resources mining rigs/hash powers/money to lose, and small one like us would be manipulate by their actions in which would eventually chip away our investments as well. The game wouldn't be fair when all kinds of people are playing with the same currency, you just have to be extraordinary smart to survive/profit, Bitcoins are not meant to a savior to the global economy i suppose.

The wealthy and powerful cannot take away your bitcoins unless you give it to them. So just sit tight and hold. Don't complain about the resources at their disposal, when all you need to do is believe in the long term potential of Bitcoin.

This is the beauty of bitcoin that nobody can snatch it from the holder without his consent. No matter how high authority someone has, bitcoin cannot be controlled and this is the reason why some governments and banks are against bitcoin as well as all other digital currencies.

Bitcoin is the only hope of people if they want to get freedom in control over their money. Hold on bitcoin and try to not make public announcements about your property.

MinMan

full member

Activity: 618

Merit: 154

Quote from: palle11 on October 28, 2017, 04:06:31 AM

Quote from: jmarkrodriguez on October 21, 2017, 10:24:17 AM

We want better education, better healthcare, better everything and yet our very money does not allow for these things. Our money, enforced by our governments, is what holds us back more than anything. Real economics is not allowed to take place in our current world. But Bitcoin is changing that. And if governments are unable to stop Bitcoin, which it will be very difficult to do, then we are in for a life changing world in the near future. Just as how the Internet removed the lies of religion and government, so too will Bitcoin remove the chains of government.

Bitcoin with all its paraphernalia of positivity as to why users adopt it like - removing the chains of government, decentralization etc, it can't distribute wealth equally but can only create avenue for new wealth creation which people who see the vision can become rich and others who don't or who still see it as a bubble and waiting for it to burst; thus people already invested losing their money , would keep being backwards in the distribution.

This is synonymous to what happened in the early adopters

If we look at the positive e features of bitcoin, then there will be long list which we’ll get in result. Bitcoin is indeed a wonderful thing world has ever seen. Bitcoin is indeed very much capable of changing the distribution of wealth across the globe, in fact bitcoin is changing the distribution of wealth as there are so many poor and unemployed who are earning a very good amount of money just because of bitcoin.

An0nyMoose

sr. member

Activity: 490

Merit: 255

Yes that is one of the effect of Bitcoin, because Bitcoin is a measure of the total debt that exists today so there will be a massive wealth transfer in our lifetime yes.

RavenHood

full member

Activity: 294

Merit: 105

In my opinion it can change, but a little bit. Because if you know bitcoin you have an internet and some extra money to sustain or try bitcoin; you are in the middle level of wealth. If you are in a lower grade of wealth, you will not have an attention to try bitcoin at all, yes you heard bitcoin. But you are not willing to try it, because you want an permanent or regular job.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: jmarkrodriguez on October 21, 2017, 10:24:17 AM

We want better education, better healthcare, better everything and yet our very money does not allow for these things. Our money, enforced by our governments, is what holds us back more than anything. Real economics is not allowed to take place in our current world. But Bitcoin is changing that. And if governments are unable to stop Bitcoin, which it will be very difficult to do, then we are in for a life changing world in the near future. Just as how the Internet removed the lies of religion and government, so too will Bitcoin remove the chains of government.

Bitcoin with all its paraphernalia of positivity as to why users adopt it like - removing the chains of government, decentralization etc, it can't distribute wealth equally but can only create avenue for new wealth creation which people who see the vision can become rich and others who don't or who still see it as a bubble and waiting for it to burst; thus people already invested losing their money , would keep being backwards in the distribution.

This is synonymous to what happened in the early adopters

panju1

legendary

Activity: 1246

Merit: 1000

Quote from: waynechong1995 on October 28, 2017, 12:00:30 AM

I think i wouldn't be fair as long people stays the same mindset is how was it now. Like how stock market works Bitcoin would be eventually stocked up by another more wealthier side as they have much more resources mining rigs/hash powers/money to lose, and small one like us would be manipulate by their actions in which would eventually chip away our investments as well. The game wouldn't be fair when all kinds of people are playing with the same currency, you just have to be extraordinary smart to survive/profit, Bitcoins are not meant to a savior to the global economy i suppose.

The wealthy and powerful cannot take away your bitcoins unless you give it to them. So just sit tight and hold. Don't complain about the resources at their disposal, when all you need to do is believe in the long term potential of Bitcoin.

Bestpromoter

full member

Activity: 322

Merit: 100

of course it will change the world the distribution of wealth in the world will make easier that is the essential of bitcoin we all know that bitcoin is good in sending money

the world is changing and bitcoin is part of that changing

Emitdama

sr. member

Activity: 1848

Merit: 328

Quote from: bossgucci on October 26, 2017, 05:50:17 AM

Quote from: supine on October 23, 2017, 05:02:41 AM

Quote from: HappyNonce on October 13, 2017, 04:48:44 PM

Does anyone have information whether bitcoin would distribute wealth more equally across people than the current wealth distribution?

Or would the distribution be even more unfair?

I really think this is true, just imagine before bitcoin or cryptocurrency is introduced to people. Only those people who are already rich can contribute to projects or ICO, now that we have cryptocurrency, people can contribute and share their funds and gain income through it.

Yeah many people are starting to earn more money besides earning from their job. So they will buy more. This will help the economy of their country and this will be better for more people.

I also got some extra money by doing investing in some coins.

Looking at the capabilities of bitcoin, I am very much positive about this thing that bitcoin is having this much of potential that it can change the distribution of wealth in the country. The way bitcoin is helping so many like us in earning this much amount of money, there are likely chances that soon there will remain no one poor in this world except those who are not knowing about bitcoin.

waynechong1995

full member

Activity: 644

Merit: 117

swing!

I think i wouldn't be fair as long people stays the same mindset is how was it now. Like how stock market works Bitcoin would be eventually stocked up by another more wealthier side as they have much more resources mining rigs/hash powers/money to lose, and small one like us would be manipulate by their actions in which would eventually chip away our investments as well. The game wouldn't be fair when all kinds of people are playing with the same currency, you just have to be extraordinary smart to survive/profit, Bitcoins are not meant to a savior to the global economy i suppose.

miltonpogi

member

Activity: 245

Merit: 11

Staker.network - POS Smart Contract ETH Token

Well I think no,lets take an example of wealth distribution in america for example, American wealth hast roughly total of 54 trillion dollars, in the first distribution of there wealth was called "the dreaded socialism" because the entire population of america is divided in 5 set and 20% of American wealth will distributed in each set, second is the ideal distribution in this case the total wealth of America was distributed into 4 class, more percent of wealth will go to the wealthy class, but in reality the main distribution of there wealth was go to the wealthy class that poor class well never been distributed, and in that wealthy class one guy have the 1% that even the he/she take home almost the quarter income today, even bitcoin will never change this reality.

AmXProX

sr. member

Activity: 336

Merit: 250

Quote from: HappyNonce on October 13, 2017, 04:48:44 PM

Does anyone have information whether bitcoin would distribute wealth more equally across people than the current wealth distribution?

Or would the distribution be even more unfair?

Currently the richest man in the world is Bill Gates as of posting time. If ever bitcoin replace the fiats who will the richest man be? It is speculated that Satoshi Nakamura owns a million pieces of the coin, if that is true he will be the richest man or any one who owns the most number of bitcoin. So will the wealth be distributed evenly? definitely not.

jekjekman

sr. member

Activity: 378

Merit: 250

Quote from: HappyNonce on October 13, 2017, 04:48:44 PM

Does anyone have information whether bitcoin would distribute wealth more equally across people than the current wealth distribution?

Or would the distribution be even more unfair?

It won't distribute the wealth equally but rather will just reset the people who is considered rich today.

If ever bitcoin reached that stage where it is considered as the currency in exchange of fiat. People who invested on it first will be the new rich people. Imagine how much coin the starters already own by that time and the new comers needs to buy the coin on the price what it is worth by that time. Even if you are a billionaire right now if you were late on investing to the coin your billion will be useless it may only worth thousand or even hundreds of coins by that time.

The_Dark_Knight

hero member

Activity: 840

Merit: 502

Quote from: faceoff97 on October 20, 2017, 04:17:04 AM

It would be impossible to equally distribute the wealth of the wotld, in fact bitcoin will lead to make rich even richer and poor even poorer. Most of the people who got into bitcoin are those who are in the middle class and upper class of society. And seeing how bitcoin grows from the past years, we can expect that those early investors are now richer than before, on the other hand, those who are poor can now never afford obtaining bitcoin. Thus, instead of distributing the wealtg equally, it cause the majority of the poor to become left behind. But on the brighter side, it is good that bitcion is brcoming a ctalyst to make a better living.

Bitcoin is a currency, not some kind of charity project, many people would like a different distribution of wealth, but the truth is that even if people consider the current distribution unfair, those that become rich because of their own effort deserve to be rich, the only ones that do not deserve it are those that achieved their wealth by being corrupt and through stealing.

bossgucci

newbie

Activity: 21

Merit: 0

Quote from: supine on October 23, 2017, 05:02:41 AM

Quote from: HappyNonce on October 13, 2017, 04:48:44 PM

Does anyone have information whether bitcoin would distribute wealth more equally across people than the current wealth distribution?

Or would the distribution be even more unfair?

I really think this is true, just imagine before bitcoin or cryptocurrency is introduced to people. Only those people who are already rich can contribute to projects or ICO, now that we have cryptocurrency, people can contribute and share their funds and gain income through it.

Yeah many people are starting to earn more money besides earning from their job. So they will buy more. This will help the economy of their country and this will be better for more people.

I also got some extra money by doing investing in some coins.

criz2fer

full member

Activity: 672

Merit: 127

Quote from: djselery on October 19, 2017, 03:32:38 PM

I am not sure if Bitcoin will change the distribution of wealth in the world, but I am almost sure that its helping so many people around the world financially, and that its making new rich people daily almost. Its at least a way for the poorest people and the unemployed to earn their living and make an income from working online with Bitcoin.

Till now, since bitcoin is still growing and not all country are using it, the wealth of a certain country would not be affected because not all the sectors are involve in the blockchain technology. But for the whole world to have a great distribution of money, it would involve not just a great project from ICO Project because they are all being traded and it is uncertain if where the money really goes because using a blockchain technology have a anonymous addresses that can't be trace.

Semar Mesem

full member

Activity: 1484

Merit: 101

It still depends on the market cap, if the market cap reaches over thousands of trillions of course it will make a big change especially for the rich, so will many rich people from bitcoin, but for now it seems still difficult to replace the richest man from outside bitcoin.

Topic: Will bitcoin change the distribution of wealth in the world? - page 14. (Read 3506 times)