Will bitcoin change the distribution of wealth in the world? - page 15.

supine

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Quote from: HappyNonce on October 13, 2017, 03:48:44 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.

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Quote from: ramsdaj28 on October 23, 2017, 12:03:11 AM

Quote from: HappyNonce on October 13, 2017, 03:48:44 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?

Bitcoin is not responsible of the wealth distribution in the world. In fact, wealth is already distributed UNEQUALLY even before the arrival of bitcoin. Putting that into perspective, upper class and middle class people are the ones who will have an easy access to bitcoin while the lower class will be left behind. The case is not that bitcoin will allow people to classify themselves in the wealth ranking, but instead, wealth ranking/status will determine the ownership of bitcoin, although not all people know the concept about bitcoin, and might not even dare to buy it.

In fact bitcoin is a digital currency only, but because of the fluctuation of the price of bitcoin which mostly due to the adaptation of bitcoin by the people, it s giving some profit to people by investing money there. but i do not think that we can consider bitcoin as a regular business, it is an opportunity for the time being and when people will adopt bitcoin as currency then bitcoin price will become stable and then it will mostly be use as currency for shopping and buying selling purposes.

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Quote from: ramsdaj28 on October 23, 2017, 12:03:11 AM

Quote from: HappyNonce on October 13, 2017, 03:48:44 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?

Bitcoin is not responsible of the wealth distribution in the world. In fact, wealth is already distributed UNEQUALLY even before the arrival of bitcoin. Putting that into perspective, upper class and middle class people are the ones who will have an easy access to bitcoin while the lower class will be left behind. The case is not that bitcoin will allow people to classify themselves in the wealth ranking, but instead, wealth ranking/status will determine the ownership of bitcoin, although not all people know the concept about bitcoin, and might not even dare to buy it.

Bitcoin is an innovation that is not mandatory for everyone, only people who want to open minds that will gain prosperity in the future. I do not think that this will continue to go well because the more expensive bitcoin price will get stronger competition and conspiracy to get it. But I agree if bitcoin will bring new things and now give many people hope to change their destiny and economy.

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Quote from: HappyNonce on October 13, 2017, 03:48:44 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?

Bitcoin is not responsible of the wealth distribution in the world. In fact, wealth is already distributed UNEQUALLY even before the arrival of bitcoin. Putting that into perspective, upper class and middle class people are the ones who will have an easy access to bitcoin while the lower class will be left behind. The case is not that bitcoin will allow people to classify themselves in the wealth ranking, but instead, wealth ranking/status will determine the ownership of bitcoin, although not all people know the concept about bitcoin, and might not even dare to buy it.

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Quote from: kateryana81 on October 21, 2017, 02:24:57 AM

Quote from: HappyNonce on October 13, 2017, 03:48:44 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 don't think bitcoin will spread the economy in the world equally because rich people will always have more opportunity to earn as compared to poor people. There is a wide spread of money all over the world some are very much rich and some are totally empty in finance. But bitcoin can help poor people earn more money more than they earn now.

the will be more opportunity for intelligent and worthy people of having money. But bitcoin will not affect the spread of money in the world.

Exactly there is an obvious ambiguity about which sort of distribution you are talking about.

What I get from your question is the distribution of money from rich to poor and like you said here, there is no restriction for bitcoin to be used by only one stream of people, no it is not like that. Plus get some amount don’t matter how much it is, buy bitcoins and keep it with you for better future.

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Quote from: jmarkrodriguez on October 21, 2017, 09:24:17 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.

I support your opinion, but you forget the fact that the government long to put up with the loss of his power will not. They can't exist in a fair world. The only way for them to take control of the turnover of the cryptocurrency and destroy it from within. I heard a lot of thoughts about what people want to achieve the legalization of bitcoin. They don't understand that this is the beginning of the end.

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I think you can still earn a bitcoin even though you are not really rich. That means you will have to do a lot more work than others do. Or the simplest way is to earn a lot of Altcoin and transfer it to Bitcoin

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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.

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Quote from: appleffi on October 21, 2017, 03:18:33 AM

Quote from: HappyNonce on October 13, 2017, 03:48:44 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 probably goes down to the ones who knew bitcoin first, because as early as you get into bitcoins the better returns you'll have. That is based on the current status of the bitcoin.

Well that doesn't chnge the distribution of wealth. It's like that not only in bitcoin. Most of the time the first ones who have balls to take risks end up getting the mkst benefits.

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Quote from: HappyNonce on October 13, 2017, 03:48:44 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 probably goes down to the ones who knew bitcoin first, because as early as you get into bitcoins the better returns you'll have. That is based on the current status of the bitcoin.

kateryana81

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Quote from: HappyNonce on October 13, 2017, 03:48:44 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 don't think bitcoin will spread the economy in the world equally because rich people will always have more opportunity to earn as compared to poor people. There is a wide spread of money all over the world some are very much rich and some are totally empty in finance. But bitcoin can help poor people earn more money more than they earn now.

the will be more opportunity for intelligent and worthy people of having money. But bitcoin will not affect the spread of money in the world.

Jafri101

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I dont know in which sense you mean distributing? And about bitcoin ,it has proved many times that it can make you rich but it can makes to rich whom?? those who got in satoshi?? obviosly no.
so those who got fiat money can buy bitcoins and yes that can be huge profit as much as they will buy bitcoins. So greater the amount greater the possibility to be rich.

The_Dark_Knight

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Quote from: xaxistech on October 13, 2017, 04:02:43 PM

I dont know, and bitcoin can not do it because wealth has already been distributed, only because bitcoin exists doesnt mean that it can make rich everybody, or that a lot of people can be wealth after it pumps to $100k.
And this has already been asked so many times, i am starting to get tired of those kind of threads that are only for spamming purposes.
But no, nobody knows what is going to happen, just try to predict it, it is impossible.

Correct, the distribution of wealth is already unequal and bitcoin cannot change that, people that have more fiat have bigger chances of getting more bitcoin not only because they can buy with their fiat, their wealth was used to get better education as well and as such they can use that knowledge to their advantage and understand that bitcoin is going to be the future and buy even more of it because of that knowledge.

fiulpro

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Quote from: HappyNonce on October 13, 2017, 03:48:44 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?

Hey

Well the distribution is never unfair.. but in fact its more like people who were lucky at first, who somewhere brought bitcoins and forgot about them.. its something that everyone had the chance to buy.. thus its fair anyways... Right now that lucky factor is gone and people are focusing on trading and that depends upon the hardwork you put into it, you collect information and then you work according to it and everyone has a fair chance to get rich, thus its no unfair.

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I think realistically bitcoin will have little effect on the distribution of wealth, it will certainly make things a little fairer in terms of reduced power for middlemen, but the largest change will be making some early adopters very very rich, but the numbers are small relative to population.

supercanada1

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Quote from: matchi2011 on October 19, 2017, 11:04:36 PM

Quote from: HappyNonce on October 13, 2017, 03:48:44 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?

Wealth doesn't only come from bitcoin and many wealthy people aren't even dealing with this yet. I don't there's going to be much difference in that scale. Though there pf course will be people who will benefit from bitcoin but there's not going to be much difference with wealth distribution in general terms

Yes there is a lot of the way to get eh money and be the part of the rich status but one and for the most resource is he bitcoin in the bitcoin I am being the bitcoin user and the income of the bitcoin is increasing more and more, I hold the bitcoin for the income because it is giving me all the things that I have dreamed for, I used the bitcoin I and I said to her that the income will be more than this in very short time.

BILGPS

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Yes it is true many people are now the highly rich personalities not because of some other reasons but because of bitcoin. They invest in the past or we can say in the early days of bitcoin and now the became very powerful through bitcoin. Since bitcoin value is increasing day by day and because of this it divert the attention of the people towards it self. Yes it is dafinetly true the bitcoin has changed wealth distribution in the world.

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I don't think that the bitcoin will change the concept of distribution of wealth in the world because the only thing that will bitcoin change is the way of getting into a successful journey because instead of working on a daily job which is stable and has a fixed income, you can become successful by working in bitcoin and doing all the opportunities that you can do.

Lieldoryn

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Quote from: ekoice on October 20, 2017, 04:09:12 AM

Definitely,bitcoin would help the distribution of wealth equally in the world to atleast some extent.Now,in today's traditional system,only rich people get more and more rich.Poor get more poor.Rich people enjoy all the benefits of economy while most of the poor don't even get access to that.But,bitcoin has totally changed this situation.It gives equal opportunities to all people belonging to both developed and under developed countries.

Only thing that people in the under developed countries should have is a device and an internet connection to get access to bitcoins.Most of unemployed youth belonging to poor communities have got new earning opportunities in bitcoin like mining,trading,participating in signature campaigns,etc.

Indeed it is but it seems to me that it will not always. Now bitcoin is only the beginning of his way, and is not yet a danger to invented for the rich world's financial system. As only the rich will see as a threat they will ban bitcoin. They controlled all government and all they are interested in maintaining the status quo.

Fundalini

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IMO, it could only get more unfair through the passage of time since early adopters who have acquired bitcoins at a low price before would have profited now thus have more wealth than people who recently learned of its existence. Besides equality was never the goal of bitcoin, and the very notion of it in the blockchain is ridiculous as markets would always have whales and small time investors.

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