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Title: Is Bitcoin Fair? Post by: From Above on July 04, 2014, 11:44:04 AM do u think Bitcoin culd be called fair?
~CfA~ Yes its fair, in fact one of the most fair currencies out there.. or i dont know what are you triying to say with "fair" wrong its not 'fair', but thats why i love it to be honest. http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12 http://www.cryptocoinsnews.com/news/owns-bitcoins-infographic-wealth-distribution/2014/03/21 It turns out that the distribution of bitcoins among users is even more skewed than the distribution of traditional wealth across the globe. This is understandable, since bitcoin favours early adopters who either mined or purchased their coins a few years ago. Furthermore, the amount of bitcoins in circulation is capped at 21 million, which also helps create an unequal distribution of wealth. Interestingly, the FBI had the second largest known stash of bitcoins, a whopping 174,000 BTC from the Silk Road seizure. BITCOIN is the best. Keep the rich rich and let dem Average Joe slaves hype up my riches. :) ~CfA~ Title: Re: Is Bitcoin Fair? Post by: ARGpentem on July 04, 2014, 12:57:58 PM do u think Bitcoin culd be called fair? ~CfA~ obviously Title: Re: Is Bitcoin Fair? Post by: lynn_402 on July 04, 2014, 02:43:30 PM do u think Bitcoin culd be called fair? ~CfA~ Yes. Bitcoin is the coin with the best distribution, where the top 100 richest addresses hold less than 20% of all the coins (and that's including Satoshi's huge stash). http://bitinfocharts.com/bitcoin/ (http://bitinfocharts.com/bitcoin/) Most altcoins are at about 50%, although it could be argued that, since they were released in a period were considerably more people are aware of cryptocurrencies, they may in a way be more fair. Title: Re: Is Bitcoin Fair? Post by: giveBTCpls on July 04, 2014, 03:14:37 PM No it isn't:
http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=305000 96.04% of addresses have shit nothing, few have even 1 BTC. It's a joke, it really solves shit nothing when it comes to equality. But it's always the same tho, whoever gets first makes the big gains, the rest of us just miss the boat and stay depressed for not being in the right moment at the right time. It is great tho, for trying to evade taxes, moving money around the world, recieving payments easy, and so on and so on (but for this I would use an anonymous coin like Monero, anyway). Title: Re: Is Bitcoin Fair? Post by: Momimaus on July 04, 2014, 03:52:50 PM no it is not. worst distribution of all coins. Like most of minable coins. Thatīs why we need a good POS coin. Maybe it will be NEM. Title: Re: Is Bitcoin Fair? Post by: cozk on July 04, 2014, 03:59:13 PM no it is not. worst distribution of all coins. Like most of minable coins. Thatīs why we need a good POS coin. Maybe it will be NEM. Oh boy here we go again. Not its not fair ''insert shitcoin'' is a lot better. Title: Re: Is Bitcoin Fair? Post by: El Dude on July 04, 2014, 04:09:04 PM no it is not. worst distribution of all coins. Like most of minable coins. Thatīs why we need a good POS coin. Maybe it will be NEM. Oh boy here we go again. Not its not fair ''insert shitcoin'' is a lot better. It's always like that here Title: Re: Is Bitcoin Fair? Post by: Momimaus on July 04, 2014, 04:13:31 PM no it is not. worst distribution of all coins. Like most of minable coins. Thatīs why we need a good POS coin. Maybe it will be NEM. Oh boy here we go again. Not its not fair ''insert shitcoin'' is a lot better. It's always like that here No itīs always like, buy my shitcoin, cause I can mine it profitable at the moment. So POW just fucking die. I donīt care if itīs NXT, NEM, Qora or another good coin. But POW has to die. Title: Re: Is Bitcoin Fair? Post by: Malin Keshar on July 04, 2014, 05:27:13 PM Why put this in alternate cryptos discussion, not in the bitcoin discussion?
For me there is no thing like "fair", absolutely speaking, only more fair and less fair. That being said, bitcoin is the most fair currency than all others before it, in the sense no central authority can screw it(hyperinflation, money confiscation, and stuff like that), anyone can get it without strong regulations like gold, silver and stocks have, you have some privacy with more transparency too, and you can decide whether you want trust a 3th part to store your money, or if you want take full responsibility to your savings Title: Re: Is Bitcoin Fair? Post by: foodies123 on July 04, 2014, 07:07:40 PM do u think Bitcoin culd be called fair? ~CfA~ this is a stupid question so I'll give you a stupid two-part answer: 1. Bitcoin is fair as it's a decentralized and trustless currency so it's as fair as can be. 2. The market is unfair to new commers. Title: Re: Is Bitcoin Fair? Post by: Brewins on July 04, 2014, 08:49:36 PM Its more fair than their fiat/gold/etc counterparts. For me is enough
Title: Re: Is Bitcoin Fair? Post by: digitalindustry on July 04, 2014, 08:53:55 PM do u think Bitcoin culd be called fair? ~CfA~ obviously obviously not - better definition is "flawed" if you want to contest "flawed on purpose" then that's up to you but it's not a scam, there is not real Po$ or (Proof of Scam) or more specifically it wasn't designed as a "trust us" type system. Title: Re: Is Bitcoin Fair? Post by: digitalindustry on July 04, 2014, 08:54:35 PM no it is not. worst distribution of all coins. Like most of minable coins. Thatīs why we need a good POS coin. Maybe it will be NEM. Oh boy here we go again. Not its not fair ''insert shitcoin'' is a lot better. It's always like that here Title: Re: Is Bitcoin Fair? Post by: digitalindustry on July 04, 2014, 08:55:02 PM kids today.
Title: Re: Is Bitcoin Fair? Post by: LeChatNoir on July 04, 2014, 09:29:01 PM It is not fairer then LTC, PPC, DOGE, DRK, NXT, Facebook, Twitter etc. etc. etc.
Title: Re: Is Bitcoin Fair? Post by: Benjig on July 04, 2014, 09:46:14 PM Yes its fair, in fact one of the most fair currencies out there.. or i dont know what are you triying to say with "fair"
Title: Re: Is Bitcoin Fair? Post by: From Above on July 09, 2014, 11:52:49 AM Yes its fair, in fact one of the most fair currencies out there.. or i dont know what are you triying to say with "fair" wrong its not 'fair', but thats why i love it to be honest. http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12 http://www.cryptocoinsnews.com/news/owns-bitcoins-infographic-wealth-distribution/2014/03/21 It turns out that the distribution of bitcoins among users is even more skewed than the distribution of traditional wealth across the globe. This is understandable, since bitcoin favours early adopters who either mined or purchased their coins a few years ago. Furthermore, the amount of bitcoins in circulation is capped at 21 million, which also helps create an unequal distribution of wealth. Interestingly, the FBI had the second largest known stash of bitcoins, a whopping 174,000 BTC from the Silk Road seizure. BITCOIN is the best. Keep the rich rich and let dem Average Joe slaves hype up my riches. :) ~CfA~ Title: Re: Is Bitcoin Fair? Post by: counter on July 09, 2014, 02:31:15 PM Bitcoin is fair to me because it was for sale to everyone when the price was low. Anybody paying attention had a chance to buy and hold but many didn't take the risk. So to me in that sense it is fair. But not everyone has access to the internet or were aware of it's existance. So it that sense it is not so fair.
Title: Re: Is Bitcoin Fair? Post by: lynn_402 on July 09, 2014, 03:03:17 PM Bitcoin is fair to me because it was for sale to everyone when the price was low. Anybody paying attention had a chance to buy and hold but many didn't take the risk. So to me in that sense it is fair. But not everyone has access to the internet or were aware of it's existance. So it that sense it is not so fair. The great thing is that, for those who deem that Bitcoin is not fair and yet are still interested in cryptocurrencies, they now have hundreds of them to choose from! Altcoins are a great asset to the fairness of cryptocurrencies. Title: Re: Is Bitcoin Fair? Post by: counter on July 09, 2014, 03:09:02 PM I agree but the alt coins don't have the same community/ecosystem Bitcoin has. Also it is hard to find a good coin in such a saturated market full of scams, clones and pump & dumps. But I agree with you their is that potential none the less.
Title: Re: Is Bitcoin Fair? Post by: lynn_402 on July 09, 2014, 03:11:17 PM I agree but the alt coins don't have the same community/ecosystem Bitcoin has. Also it is hard to find a good coin in such a saturated market full of scams, clones and pump & dumps. But I agree with you their is that potential none the less. Yeah, a lot of research are needed to find a good coin, but spending a few hours visiting a coin's community should be enough to judge if it is legit or if it simply is filled with speculators. A few coins do have a nice community. Title: Re: Is Bitcoin Fair? Post by: kuusj98 on July 09, 2014, 03:50:37 PM Nothing is fair as long as there are people.
Why did the Sovjet union exist? Becouse the Communism would give everybody the same, did it work? Obviously not as you may already know... Title: Re: Is Bitcoin Fair? Post by: s.tata on July 09, 2014, 04:52:00 PM no it is not. worst distribution of all coins. Like most of minable coins. Thatīs why we need a good POS coin. Maybe it will be NEM. i think so too, and with most other coins situation worse Title: Re: Is Bitcoin Fair? Post by: lynn_402 on July 10, 2014, 01:55:53 PM Nothing is fair as long as there are people. Why did the Sovjet union exist? Becouse the Communism would give everybody the same, did it work? Obviously not as you may already know... That might be idealist, but I believe the decentralised aspect of cryptocurrencies could contribute greatly to bring a fair economy. |