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Title: Bitcoin inequality Post by: Svettypoo on December 04, 2013, 04:16:21 PM I really like bitcoin as an idea, but I have a problem with the it's long term viability. If bitcoin were to be used as the main currency, and all goods were sold on a bitcoin market, wouldn't all the early adopters be USD trillionaires? It seems counter intuitive for people who contributed relatively little production or innovation to be trillionaires, considering that the founders of Google, Microsoft and Apple have made significantly less for their innovations.
Title: Re: Bitcoin inequality Post by: Heutenamos on December 04, 2013, 04:19:00 PM I really like bitcoin as an idea, but I have a problem with the it's long term viability. If bitcoin were to be used as the main currency, and all goods were sold on a bitcoin market, wouldn't all the early adopters be USD trillionaires? It seems counter intuitive for people who contributed relatively little production or innovation to be trillionaires, considering that the founders of Google, Microsoft and Apple have made significantly less for their innovations. I doubt, early adopters selling Bitcoins on the way up many years already :) Title: Re: Bitcoin inequality Post by: Svettypoo on December 04, 2013, 04:22:35 PM I really like bitcoin as an idea, but I have a problem with the it's long term viability. If bitcoin were to be used as the main currency, and all goods were sold on a bitcoin market, wouldn't all the early adopters be USD trillionaires? It seems counter intuitive for people who contributed relatively little production or innovation to be trillionaires, considering that the founders of Google, Microsoft and Apple have made significantly less for their innovations. I doubt, early adopters selling Bitcoins on the way up many years already :) But a few individuals own >1% of all bitcoins. Nobody in the world owns 1% of all the money. And the people that own .001% of all the money were likely responsible for some serious innovations... Title: Re: Bitcoin inequality Post by: pandacoin on December 04, 2013, 04:23:38 PM Nobody in the world owns 1% of all the money. Where did you get that information? Title: Re: Bitcoin inequality Post by: Svettypoo on December 04, 2013, 04:31:15 PM Nobody in the world owns 1% of all the money. Where did you get that information? The total money supply is around 55 trillion USD. Carlos Slim is worth approximately 74 billion, which is around .13% of the money supply... And he has runs several multinational corporations... Title: Re: Bitcoin inequality Post by: PenAndPaper on December 04, 2013, 05:03:28 PM I really like bitcoin as an idea, but I have a problem with the it's long term viability. If bitcoin were to be used as the main currency, and all goods were sold on a bitcoin market, wouldn't all the early adopters be USD trillionaires? It seems counter intuitive for people who contributed relatively little production or innovation to be trillionaires, considering that the founders of Google, Microsoft and Apple have made significantly less for their innovations. I don't think that the guys that believed in bitcoin during the early days contributed relatively little. Especially those that bought bitcoins when it looked like a joke to say the least. |