Bitcoin Forum

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

Do you have ideas how possibility for richest person above 100 person want to make bitcoin become with higher price, I think when 100 richest person want to be as investors with bitcoin and altcoin they can make fantastic time with bitcoin back to unbelivable price because they can make bitcoin touch with higher price and make supply bitcoin increase limited.

Can you repeat that in a known language?

If it were used for actual commerce worldwide I can imagine it would lift a considerable number of people from grinding poverty who otherwise wouldn't be able to participate in online economies. But Bitcoin won't change much in terms of the overall distribution of wealth at the extreme of either end.

Online economies are lorded over by people at the top who'll keep swelling. There'll always be whales. There'll always be peons. The best we can hope for is a slight softening.

Point of bitcoin is elsewhere then who owns it now. Point is that is permissionless. So everyone can use it. That is not the case with traditional banking. Unless you live close to the bank and unless they agree to service you you cant use it. So Bitcoin makes everyone have a chance.  This is the main innovation.

I disagree softly!

If poor people have nothing there are no ways to acquire Bitcoin.

There was a time in the early stages of the Bitcoin development
where it was possible to mine large quantities of Bitcoin with a
standard computer with good specs.

I hate to say it but those with the greater amount of disposable
income and funds to invest can become wealthier, this includes
buying Bitcoin.

Buying or earning bitcoin are the only ways of acquiring it outside
mining. So if you dont have any money you cannot buy and for those
who are poor and have some possessions they will most likely be sold
in order to survive.

Unfortunately Bitcoin alone wont offer poor people an opportunity
out of poverty, it will take something else to start the process like
education, employment and development.

Here is an interesting wiki on "The Poverty Cycle" > https://en.wikipedia.org/wiki/Cycle_of_poverty

The key is earning in Bitcoin.

That's what gets people excited about it. As it stand some wee genius in rural Niger is going to have a seriously hard time monetising his skills and presenting them to the rest of the world. With Bitcoin and an internet connection he can instantly compete with anyone else anywhere.

To a much smaller extent we see that with people earning on this forum right now with signature campaigns and all the other stuff. They're now part of an economy that didn't exist before and some of them will be making much, much more money than any job available to them locally.

We encounter brutal facts. Income injustice is the biggest problem. Will Bitcoin or cryptocurrency offer a solution to this? I do not know. Who are Bitcoin whales? There is no other solution for now. Bitcoin aroused excitement.

I always laugh at articles like these. Not because the wealth inequality, but because people don't understand what the actual problem is, and that crypto will never make a difference. In fact, crypto wealth inequality is far worse than fiat wealth inequality. By the time the poor acknowledge the value of Bitcoin, most of the upside potential is already jammed in the price.

Don't look at how poor others are, but look at how you can improve your own situation. The far majority of the people will always lag behind the rich when it comes to their wealth, so even if there is an actual improvement on the side of the poor, it's still not enough to statistically push back the wealth % the rich owns. Their wealth grows harder than yours does. That's how things are.

Correct, the "upside potential" is decreasing every day as the FIAT
value rises, and rises out of reach of more and more people.
The time for poorer people to own Bitcoin is long gone at least any
meaningful amount.

The divide between the rich and the poor is not anymore shocking to me. That has had been going on since time immemorial and in our modern world the same thing has been affecting many people. When you have the money, you have the resources that you can use to produce more money and without it then you can be condemned to a hand-to-mouth existence, if not no-food situation. The more money you have, the more money you can make and the same is true on the reverse. Now, with this reality on the backdrop, can Bitcoin do something about it? The answer is a big no as Bitcoin is not an anti-poverty measure, asset or a platform. In fact, I think the same thing is happening with Bitcoin, only a few people or entities control the majority of the coins, though the most important thing is that we have the opportunity to buy one if we have the money. You can distribute all of cryptocurrencies to the poor but at the end of the day it will never be making a big impact. Education is the key, as the primary source of empowerment of the people so they can start to stand on their own feet.

There should be balance in terms of socioeconomic status. The balance is that I'm saying is about the numbers of poor, middle class and rich. Not everyone should be rich, not everyone should be poor and not everyone should be in the middle class. The balance is like a pyramid where the upper part is the rich people where the percentage is only small, the next part is the middle class where the percentage is in average and the lower part of the triangle are the poor where the number is too many.

Rich people are in the top of the ladder because they know how the market works. Unlike the middle class and the poor do not understand how market works. Poor and middle class are working for money while the rich people are focusing on how money works for them.

I don't think bitcoin is the solution for it because here also big players like minors, exchange owners or some early adaptors still holding a large number of coins.  Most of the small investors are worried about the price fluctuations and most they will book small profits.

that the true fact of the world,while people still often drop each other,no wonder richest people will be more richer and poor people will be poorest forever.
just because Bitcoin is decentralized , it will be more fair for me than current money system. as long they have access to internet,they can find a job by bitcoin as a payment,and its will be more fair since its doesn't required anything personal info,just by skill.
basically dividing a cryptocurrency to the whole world its doesn't change anything,poor people will sell it immediately when it have a value,then who buying it will be give a small of wealth to the seller,but as the time goes a buyer will be more wealthy,and we back to richest poorest people scheme. because basically wealth is relative thing.

This is my favorite quote regarding inequality.

https://www.goodreads.com/author/quotes/5001.Milton_Friedman

Hence, there is no benefit in trying to address inequality directly. It will be solved naturally if society has a high degree of economic freedom via the pursuit of self-interest.

And no, Bitcoin will not solve economic problems. It might help though to push economic freedom.

You can't divide what's already given. Bitcoin is not immune to inequality, and it never aimed to be. Largest bitcoin market holders manipulate the market. You can't redistribute the funds because altering the blockchain is almost impossible. It's just that the inequality in Bitcoin is not caused by unreasonable taxes and fees, and corrupt practices, but it's just the way it is, since from the beginning when early miners got a hold of large block rewards.

Wealth is not shared in this present world, our people are increasingly selfish and no one wants to sacrifice their whole life to share their wealth with the poor. in fact this is also a correct rule, society will have rich and poor, then the division will take place. The rich are often those who work hard and learn, while the poor are often lazy and do not want to overcome fate. so it is not fair that the bitcoins are shared for the poor, simply because they are not worthy. Never expect justice in this life. if it's fair then people don't have to work hard to become rich and seize power. This society has only the power and the weak, fair is a fitting and though not real.

Actually, it could solve some economic problems we're currently facing. The only reason it doesn't yet is because it's not only still in its infancy, but adapting to the way Bitcoin works is way harder than we believe. We obviously cannot see the difficulty of it because we already know how to use it & how it works (or at least a part of us, BTCTalk members), but you can clearly see it as soon as you try to tell somebody who has never been in this market before about Bitcoin.

There's also another issue: Bitcoin will never become a national cryptocurrency. Decentralization will probably never happen, only an illusion of it projected by the future economic system. Bitcoin might not turn us into the financial freedom we deserve to live into, but the world is surely being changed by it as we speak.

Richer people are much easier to earn money. They can easily double or triple their money with a short span of time while poor people takes year to uplift themselves from the hardship. Others can't even... If you compare it to the people in the lower class, the one who barely eat three times a day, the Gap is much bigger.
Bitcoin, those in the lower or middle class can find a place in crypto if they know how to do things and if they're willing to invest. Everyone has the opportunity to invest in Bitcoin but since they're in the poor family, it's harder for them to invest the remaining small amount of money they have, and put it in the risk.

This is inevitable, the rich will get rich, and the poor will stay poor or become poorer, because of the economic structure of so many countries where only the few owns the majority of the countries resources and wealth, one example is my country, the only way to combat poverty is education and Cryptocurrency can help those lesser, but of course it is also subject to the rich's manipulation.

Bitcoin can't solve poverty, it's the government that should provide equal opportunity for its people, a good government will give better life for the people because all its policy are in favor for the good of the majority and not those rich people only.

we don't want to witness a world where the rich gets richer and the poor gets poorer.

No mate, in economics, if we talk about economic problems, it is related to scarcity because of limited resources.

https://www.economicsonline.co.uk/Competitive_markets/The_economic_problem.html

That said, using Bitcoin as money does not make resources magically become abundant.

Financial freedom itself is a meaningless jargon popularized by "scam" motivators or shills. The idea about a person that can buy anything without "thinking" or employ some "work" is impossible because of limited resources, as mentioned earlier.

But Bitcoin can level the playing field. A person in Indonesia could compete with a person in Europe for some artwork paid with Bitcoin.

My mistake. English is not my primary language so I might've used the wrong words that confused you. When I talk about economic problems I'm talking about how Bitcoin can solve today's problems by replacing our inflated currencies with one that cannot be printed with a click. Taking a look at countries in very harsh situations such as Venezuela, this inflation could easily turn a whole nation's net worth from 100 to 0 in the snap of a finger.

Acquiring Bitcoin and other cryptos doesn't always require investing. There are other ways to earn not only thru signature campaigns but also to faucets, airdrops, and such. The easiest way is to invest but earning it without using your own money would be better to begin with, in this industry. You just have to be resourceful enough in order to gain profit. But also, do not depend that much in cryptos to obtain wealth.

I think it is just regret thing that we all have but sometime failed to admit that we all desire to be in place of those rich guy but we can't. Same goes for btc we all hope that if were early adopter we would also be considered as whales but we cant change the past and talking about not fairly divided wealth so we can't do anything regarding it so there is point of contradicting it.

This is very true I always tought Bitcoin brings opportunity for people from 3d world country's where the payments for labor are very low, even if it is 5$ a day it will probably be more then they would earn in their home country, but they probably have to spend it right away, and in my opinion it is probably best to hold.


 

So you are basicly saying the poor always will stay poor because they dont have the wealth or knowledge to become rich?
It is probably true tho, like someone without a pc doesn't even have acces to the internet and would never even be able to get Cryptocurrency.
This statement fits right in: The rich get richer and the poor get poorer

basically dividing a cryptocurrency to the whole world its doesn't change anything,poor people will sell it immediately when it have a value,then who buying it will be give a small of wealth to the seller,but as the time goes a buyer will be more wealthy,and we back to richest poorest people scheme. because basically wealth is relative thing.
[/quote]

I thought about that as well what would happen if there is a cryptocurrency that gives a equal amount to every person in the world, for every new born person in the world at 18, and it will always be available to you even if you didnt pick it up at the start.

I guess you have a interesting take on it which is probably true where poor people would just sell it right away because they need money, where people who are more wealthy could save it for later because they dont really need it right away.

What if it would be a Cryptocurrency you couldnt sell every person on earth gets them.
Lets say 1 Earthcoin With that Earthcoin every person mines 2000 Worldcoins salary/divident every week/month.

It's trivial that anyone who owns anything at all is way richer than someone who owns nothing or is in debt.
IDK how many people in the world are in debt, but I am definitely richer than each and every single one of them.
I.e., you could also say "the richest person in the world is richer than X billion people", that will still hold true.

Compared to fiat, bitcoin whales have little to no power over the price. They could pump or dump the price by a few thousand dollars but not too extreme unlike with fiat. Nevertheless, it's still sad to see that most people die of hunger and poverty while there are the 1% who controls basically the world now. Hoping that when bitcoin comes around it shows a much more desirable future for everyone.

The only thing bitcoin could potentially solve (if there was no fiat) is that nobody could have a lot of it, but we don't even know how that would work. If there is limited amount of money, that would mean rich people can't get rich after certain point, there can't be money printed by FED out of nothing, so eventually rich would stop getting rich and poor would have to get some of it with time. Just to give an example, there are more than 21 million millionaires in the world (I just read it somewhere, no data to back this up) which means there will never be milioanires with at least 1 bitcoin in the world, some will be left out. That scarcity could be better for us or maybe would be bad, I really don't know how it will work, I just know that printing money whenever they want to get richer is not really working, thats for sure.

It's all same. See bitcoin mining for instance, today only those can mine bitcoin who can afford expensive mining equipment and electricity Bill's. Rich n poor is social issue rather a financial one and it's there since the human life started.

Yes, the magnitude of economic inequality is crazy. This phenomenon doesn't only happen in third world, developing countries but also developed ones like the US. The recent bull runs for most stock markets in the world doesn't help either because the lower end of the economic bracket surely won't get that much from that.

No. Not at all. Bitcoin doesn't have to do with economic fairness. Just because it seems more transparent doesn't mean it's "fair". I have read before that the top richest address hold the most Bitcoin, the same as wealth distribution. Bitcoin or any crypto can't change this situation. This problem needs a bigger hand, like international organizations, governments to chip in to change it.

The world encourages spending and most people are spenders not savers.For this reason the state of things will remain the same. Rich will be rich and poor will be poor.
If you see a poor or average earning person taking a loan to buy a new car from the dealer you can see he's never going to be rich. The loan will cost you 20% more than if you earned the money yourself and a new car will be 20% more expensive than the same car preowned for just a year or 2. People who can't count will lose money.

big ideas come up on bitcoin, but unfortunately many rich people and government officials who have not agreed with this technology, maybe because they do not want their comfort disturbed by a variety of reasons that can actually be overcome.

It's more like an opportunity based discussion with it regards to that topic. Rich people have a lot of chance on opportunity considering that they have a lot of money, In business they can try and try as long as they have a capital. However, The poor people only have one shot, if they save money and bring it to business they can only have 1 opportunity if they fail it will take time to build a capital again and to start a new plan.

Like it or hate it, world is unfair, The rich people have a lot of chances compared to poor people.

I believe this is not only true to the world of fiat. This must also be true to the world of Bitcoin. There must also be a very low percentage of Bitcoin owners who own more than the millions of poor Bitcoin owners. This is also true not just in Bitcoin but also in altcoins. This has always been the case in this crazy world of ours. Equality is nil.

That’s just how this world is, the poor people keeps getting poorer and the rich people are getting richer. Speak of the underdeveloped countries, those are even the worst places because their bad government makes it really bad. Since, no one really cares about the rich does, they are able to do whatever they want and oppress the poor because the rich, and the poor being broke has no one to speak up for them, very bad :(. Their Government don’t create jobs for people, I have seen cases where the children of the poor graduate from school and end up without jobs, but the rich people are able to buy any position for their children. Things like these are what’s causing people to commit crimes.

Right, however, for macroeconomics problems, the essence is still the same, i.e., scarcity and distribution of resources. Even with Bitcoin, Venezuela wouldn't suddenly become more productive so that more goods and services produced.

The job of a government is to distribute the resources efficiently, and inflation (price increase) is a symptom that there are too many demands for goods and services compared to its supplies, not only related to the amount of circulated money.

Bitcoin might, however, prevent corrupt governments from playing around with its currency supply. With Bitcoin, governments wouldn't be able to mask its unproductivity by artificially print more money. Hence, I agree if Bitcoin could be useful in countries like Venezuela, etc. However, it wouldn't magically solve the fundamental economics problem overnight.

I see people this has been the case for much of history and I do sort of agree. We can't force bitcoins to be redistributed, nor should we. I still think we can get to a point where income inequality can be reduced. There's more opportunities now to earn money by selling products and services online and cryptos have made this easier. In a sense money is more liquid than ever and can flow farther than before.


It did "democratized" work same way that crowdfunding did for bankrolling businesses. The internet has been around for a long time but the introduction of bitcoins and other cryptos after has allowed people an alternative way of receiving their pay. Being able to jump over the need for banks since the wallet can be cashed out directly in other establishments is also a great benefit in a world where majority of people are still unbanked.

From the past it was true that there were more poor people than rich people, it was not a strange thing. Because getting rich was not easy,
have to go through a long process. Only people who never give up and work hard who in my opinion can be rich. And if we talk bitcoin can
avoid poverty is true, but with the condition that the person can make a profit from bitcoin. If not then bitcoin cannot make you rich. Therefore,
it is necessary to understand bitcoin correctly. So that people do not think that you can get rich from bitcoin instantly, even though the reality
is not like that.

 '80% of the world's wealth are owned by 20% of the world's population '. This is just an estimate but you get the gist.  So, the remaining 20% of wealth is shared by 80% of the world. It all looks like it will continue this way. Don't think crypto will make it better. It could even make it worse because it is the majority holders of wealth that influences crypto market  most.

There's nothing as instant in this world. Everyone should work hard to earn something or to have something for himself. They should learn more about cryptocurrency and don't rely in the government to give them what they want. Sometimes it is necessary to seek help, but what if there's an opportunity but you're so lazy to grab it. So my suggestion is to think of something that will help you to get out of poverty. Try to invest in some altcoins to have some small profits. The solution for poverty is hard-work and patience, government has nothing to do with your money. That's why many people are poor and not rich.

Its actually something that have been in place since time immemorial. The wealth distribution is like a pyramid that the higher you go, the fewer the number of people there and it has been like that. While the gap continues to gets wider, it is also does not mean that the entire world is leaving in abject poverty and also worthy of note is that majority of people in the richest bracket are much more involved in charity than anyone else and some of them have even in their private capacity being responsible for the eradication of disease in developing countries such as polio, cholera etc. As far as those people are not cheating people for the accumulation of their debt, then its fine to amass such.

Yes I also think loaning money comes with a lot of risks included, what if you don't have money to pay it back?
Then you are screwed for a long time plus the cost of the loan are to much, and a bank can loan you money while they dont even actually have it.
That's why in Islamic banking taking interest is forbidden, which is quite interesting.

And I agree people with a lot of money have way more opportunity to create their own succesfull business that's why a lot of the women of rich men have their own business.

That's blasphemy!
I mean, yeah it's true that, for example, the Winklevoss hold 1% of all the coins while Jeff Bezos only holds 0.05% of the assume wealth and unlike the 1% of the population holding half of the wealth 0.06% hold 2/3 of all the coins, but.. but ...but... ;D
I don't know what's with bitcoin that triggers a wave of socialism and makes people think that it will be some kind of wealth redistribution and the rich will be burned at stake, in reality they will just get richer, nothing will change.


And what will bitcoin solve that a more stable currency won't?
You're thinking of personal finances that can be solved with an investment compared to macroeconomics.

Do you think the economy of Venezuela will be saved once they will turn to bitcoin? No, it will be a prolonged disaster, they will run into the same problems Greece was facing because they were using the euro. Venezuelans will be forced to pay for things in an ever-increasing currency in terms of $ while their production stays the same. It will be like overinflating your own currency and take a look at how every country in this world is afraid of it, from the US to China to Switzerland.
Unfortunately for countries facing economic crisis bitcoin is like adding poison, the ones that can take advantage of it are countries with very stable economies that don't primarily rely on either exports or tourism.


And from time immemorial people have tried to redistribute wealth ending with the rich getting a bit poorer, the middle class wiped out and the poor on the deathbed. Witnessed myself one of those, don't really a fan of it.

Bitcoin has changed a lot of people's life, ever bsince it's creation ten years ago, I think the data is very much different from the monetary data, only few people in every country, owns the vast resources of  a particular country, if people who are averaged income will discover Cryptocurrency this early they will have a chance to change their life for the better.

if quantity of rich people increases, it would normally meaned that world is growing financially. but unfortunately it is not. it is also similiar story for bitcoin. but i think it is because market is so new. and after a while it will be better in crypto.

Every day quality of richest person always increase and look up because many people try to make anything better at the future and have many chance profit with their company and become richest person, I think with many richest person around the world give chance for other to get working with their project and company to be better and ear salary every month.

That's the reality of our world economy, poor will always remain poor and rich will get more wealth, in comparison to the world asset you might find the disproportion between the poor and rich society, when you say about the women's ration in the world asset then you will get astonished at see the difference level, but the scenerio is being changed and women empowerment is becoming a crutial part of the modern community, I don't think that Bitcoin and cryptocurrency will remove the dispropportion of the wealth because it has already divided into two parts.

I absolutely believe that--these modern feminists think women have it bad in the US, but compared to 3rd world countries they live like queens for all sorts of reasons.  Things might not be absolutely perfect for them in 1st world countries, but it's all a matter of perspective.

But as far as this statistic goes, it seems to divide the world into rich/poor binary categories, and that's not an accurate way to describe people's financial status.  Sure, there might be ultra-rich individuals who account for a lot of the world's wealth, but that doesn't mean everyone below them is "poor". 

I also have no resentment toward those ultra-rich folks.  In most cases they've earned everything they have, and I respect that greatly.  Some of those rich people have inherited their wealth, but who cares?  It's always been that way, and it doesn't mean life is crappy for the rest of us who don't have all that money.

No, I don't think that's a good idea. How can you share your hard earned wealth with so many people doing nothing? If you were the one who spent your youth trading bitcoin and got 1,000 bitcoins, then the government forced you to divide your assets, would you accept this fact?
I am not saying we are selfish, but the rich also have to shed blood to get their success now. so they deserve their power now. Although I am poor, I understand that a society should not have such a division of wealth, it will make the whole society become lazy. Nobody wants to work and wants to try for something else.

My initial thoughts about this is that, if we could have the information about their sum total net worth in cryptocurrency, would it be possible to lift the rank of the 4.6 billion poor people and to make our world better with people having same financial status? I've came up to a conclusion that without the poor people, completion of many tasks will not be possible, as the person that are responsible for maneuvering the development are those that is included in the top 2000 people, both rich and poor needs to work hand in hand for us to have a working environment.

The main idea against these kinds of things to happen has always been higher taxation of richness, not just people but companies as well. If you tax the super wealthy companies that deal in billions of dollars of profit and people who do have billions of dollars (and their profits as well) and helped out the people who actually need it, you could actually balance it after a while.

Think about all these 2000 people and their companies paying double and even triple their current taxes and think of that money going for healthcare, education and welfare, that would change the situation very quickly, people who are poor right now would be able to give their kids a better life and those kids would become white collar middle income people very quickly, that is why making billions of dollars in profit should be encouraged, it is a good thing, as long as you also pay taxes to help out others as well.

If you are talking about the distribution of wealth you cannot expect that to be fair if you are lazy. The richest did not get their wealth handed out to them, they earned with their brilliant innovation which changed the market, the problem is that majority are looking for someone to give them the wealth distributed equally and that is not going to happen and BTCitcoin is not here to distribute wealth equally.

I don't think that bitcoin can solve this issue, the population of the world is about 7 billion people and there's already 18,177,337  bitcoin's in the circulation right now, and there's only 21 Bitcoin in this world, imagine 21 million people hold 1 bitcoin each while the rest population will get nothing so I can say it's not fair divided. However bitcoin is a deflationary currency meaning that its value will be soar, so in the future even if people holding some satoshis they can support their life with it.

There are people saying that the world is simply reverting to the norm. According to this theory the rise of the middle class and the greater socioeconomic equality of the past decades was the result of WW2 decimating the rich. After the war the governments also had a more interventionist approach to businesses.

Absolutely no! There is no more chance to have equity in this world. Richest people will always want to be rich and in result poor employees are staying in an over time and under paying job. Even bitcoin will not solved this problem because elite will make away to get a pace in normal people.

2% of people hold the possession of 98% of all assets in that world which is what I read many times on different platforms but this is not about economic inequality this shows how people are stupid enough to work as labour in the name of salaried person for their life time and follows it for generations.

Poverty is really destroying the life of many and it’s sad that the world is not doing much to stop it.
Most people are just interested in filling their pocket and nothing else, they are just greedy. If only people, especially the rich and the government, will start creating lots of jobs for people to support the poor.

There are lots of other ways that we can reduce poverty and the number one is to create jobs. Some think that by tipping a beggar by the roadside they have done much, when they know that the penny they drop will only be spent on food and nothing else.

In the understanding of people that isn't open with investments and volatility, bitcoin isn't fair for them. Let's just admit that they can't go along with the risk that bitcoin brings. I can't understand about division of cryptocurrency to the whole world.
This is real internet money and this isn't free so why there's a need to divide it?

I wonder what's gonna happen when all the money got too centralized and 98% of it got owned by these richest. These rich people seem to be hesitant when it comes to spending their money and always invest it to stack yet another batch of money to their money vault meanwhile the middle class and poor people usually become more consumptive which equal to spending more money to make the richest becomes even richer. The pattern really seems to go toward that direction.

That's capitalization.

In order for there to be progress, there always has to be people at the top of the pyramid. You can't have everyone on an equal playing field otherwise nothing will ever get done.

Although I don't agree it should be to the degree it currently is, there needs to be a significant wealth gap between the industry movers and pioneers, and the labor type staff that build their vision. If there wasn't, why would anybody take on the burden that comes with leading an industry?

Nonetheless, I do think these people bear a strong responsibility to help make things easier for the bottom 4.6 billion, after all, some are barely surviving, and that's not right.

I think economic disparities have occurred since ancient times before fiat money was discovered. and in my opinion bitcoin cannot be used as a solution to overcome this gap problem. people who have a lot of bitcoin will certainly benefit far greater than those who only have a few satoshi.
I think this gap can be overcome by a just government policy.

It is sad to see the numbers that shows the gap of population of rich to the poor. It is a reflection of how uneducated the poor are. They are uneducated in terms of financial aspect because if they are literate when it comes to financial stuff then they will not be poor because there is a lot of option like investments that they can try to grow their money.

That was good about the gap from poor to rich because for at least we challenge our lives into a good life. We have different situation from being rich and poor and it depends on you on how can you handle your life from being poor or rich because you are the one who can find your happiness.

From education, some government do offer education so it depends on what you want to become in the future.

not all investments end well friends, even if someone makes an investment he could end up bankrupt, someone must know what the potential is in this world now, many people get money from the internet

Reminds me of a cartoon an artist made and captioned
*Rich are getting richer and poor are getting poorer*
Yes this is the reality of life , unfortunate circumstances push them in deep pits from where they just go down and also the governmental policies unfortunately favours the rich .
We talk about casts and how there is a reservation for them , it should have been according to the financial status of someone , too much is at fault and what we can do is spread awareness about education because it is the only thing that can show these people light .

Inequality will always come at play whether in the monetary paper money or in Bitcoin. A wealth distribution wont be happening in bitcoin it will always be the minority who controls it with their stack of cash in their hands. The poor will always stay poor and the rich becomes more richer, this is true even in BTC there will always be whales, dolphins and small fish like us.

The reason why most rich people are getting richer and poor people getting poorer is that rich people have more opportunities and types of equipment to learn and adopt the latest technology trend that would help them gain and earn more profit. When it comes to profitable investment, it will be also easier for them to start because they have a better amount of capital. Poor people need to work hard just to acquire knowledge and earn something for them to have at least a small amount of capital.

at least if those who are poor want to try hard and create a business that produces then he can become wealthy because actually such assets can be achieved when they have the maximum business, but when they do not want to try it will not be able to change their destiny.

I don't think that bitcoin has as much of a direct impact on reducing inequality as people purport it to be.

I do think that BTC can somewhat fulfill a niche for money remittance, especially for worker remittance and payments internationally. By providing a protocol by which people can transact on internationally for basically free, without needing to pay excessive flat or percentage transaction fees, exchange rate spreads, and/or high barriers to entry, we can practically decrease the barriers to international trade, at least in the services sense.

That could potentially lessen the gap, since developing nations can outsource their cheap labour more efficiently. But even then I doubt it'll make that much of a significant impact.

That is exactly the sort of thing capitalists and super wealthy wants you to think. There is so much money in the world right now that, we could both have people who live comfortably, like having fully paid healthcare, free education, cheap but good quality food, goes to movies, eats out anytime they want, have vacations every 6 months, etc etc basically a decent life even if not the yacths and skyscrapers and bentleys etc, just a cool life that doesn't worry about money and bankruptcy but not CEO level.

At the same time we could also have billionaires and super wealthy as well, literally at the same time. How? We are talking about the whole world and all the companies that made 1+ billion dollars in profit, if those companies paid just 10% more in taxes as a whole to just make sure everyone lived better, do you realize how much better everyone would be?

If the money from the top is going to be 20 billion profits whereas the poorest are homeless, do you know how many homeless people you can help with billions in taxes that would just make sure those companies just have few hundred million dollars less versus all the billions of dollars they made?
 
Hell places like Amazon are making 20+ billion dollars in profits, worth 1 trillion dollars, owner is richest person in the world and they paid literally ZERO federal taxes whereas there are literally THOUSANDS of amazon warehouse workers on welfare. That is a gap that can't be sustained, its dangerous to the world and actually dangerous to the rich as well because as long as they keep agitating the poor like this, eventually the response will be even harsher.

Offering people a better wage, a better working conditions and fairer hours would literally cost them few billion at most, why would it matter if their profits of one year is not 20 but 15 if it means all of their employees are well taken care of? Shouldn't the lives of tens of thousands of amazon workers matter more than how much more profit can the company make? Is shareholders more valuable to world than employees?

Access to the bank today dont make you rich. You need to be capable and to do it.  But. here are billions people on world right now who are capable and who can do it, but they simply cant because they dont have access to banking. They cant get founds to fully develop their potential. With help of Bitcoin that should change over next few decades.

yes you are right the rich can always follow the development of technology and invest in large amounts while the poor because they do not have the capital they cannot follow the development of technology and also cannot invest. and usually the rich have a high education that can make it easier for them to find work while the poor who do not attend school are very difficult to find work. and in the cryptopun industry as well as that people who invest with large capital will certainly get greater profits.

Yes, because here in bitcoin, anyone could be an investor, trader or others easily without being controlled and regulated by anybody. Bitcoin is more accessible and less harder to manage compared to fiat money monitored by regulating bodies such as banks and the government, that is why bitcoin community have grown and  still increasing in numbers.

rich people are not always highly educated, rich people tend to have high speculation, where they must always look for business fields to develop their assets. whereas poor people tend to think about the needs of their suppliers, so they must be brave enough to take risks to get out of their zones

It is a sad situation where the rich get richer and the poor get poorer.  Bitcoin and cryptocurrencies are my hope to break out of a life of living paycheck to paycheck.  If it really is a success, we can turn a corner and improve our lives.

Indeed, I believe the same thing. Here in our country, there's a businessman which now have a very big company (the SM Corp.) but once became a shoeshine boy when he was a child. See? His life when he was a kid is not as good as we had right now and yet he succeed in life. This only proves that you can do everything if you are really a hardworking, persistent and courageous individual. You know what, I sometimes believe that having high educational attainment doesn't necessarily mean that your future was secured already because it will be pointless if you are not "madiskarte at maabilidad sa buhay" (hmm street-smart or also witty in other words ;D).

Regrettably, Bitcoin is controlled by the capitalists, so the richest are widespread in any successful field. In my opinion, the main reason for this economic inequality is the spread of greed in most of businessmen/women. By the way, 1% of their funds can help millions of poor people especially who are  suffering from the starvation specifically in Africa , but sadly that does not going to happen.
In fact, it is too difficult to find a solution for this economic inequality, this problem has been existed for ages. Do you think there will be a solution to this problem?
I don't think so,  but let's be optimistic, the world needs that.

Unfortunately, we can't equally divide the distribution of bitcoin unless we have the money to buy it and a supply that will literally id divided for the poor and rich people. Richer people or some of the richest people are the ones who have the money to buy large amount of bitcoin but some of us who earn money which is just enough for our daily lives will not somehow not take the risks to do the same (also, we don't have that large amount of money to start with).

What you call inequality cannot be changed. There will always be richest people and poor people in the world. Sad but true.

At some point the wealth will be too centralized and in the hand of the richest people, while poor people struggle to make their ends meet as well as following the flow of consumerism which lately has become a trend to be really consumtive I doubt things will get any better soon, bitcoin in the other hand is a currency and not a magic tool to fix the wealth gap.

It was divided to bitcoin in past, not now and that's very sad. For example nowadays exchanges hold a lot of bitcoin, see this article: https://cointelegraph.com/news/nearly-10-billion-in-btc-is-held-in-wallets-of-8-crypto-exchanges
So a lot of coins are held by exchanges and you know: not your keys - not your coins, this isn't silly expression, it's true. Nothing to talk about that, bitcoin mining is 100% turned into commercial business because of increased difficulty and not revealing new miners on time makes it almost impossible for simple people to mine it.
Everything that's good at first gets abused and finally bitcoin isn't exception. But after all, bitcoin has 100x more advantages than current money system.
It's still more decentralized and it has fixed supply, blockchain technology. No one can edit 21 million bitcoin and no one can mine bitcoin on their own after reaching to that limit. We don't depend on 3rd parties, i.e. banks. It gives you possibility to feel a little bit independent from current money system.

I think those who go bankrupt when investing they only invest in coins that have no potential and they are affected by the benefits provided without doing more research so that they are exposed to scams or fraud and make themselves bankrupt, usually only new people who don't have much experience that will be exposed like that.

right, most people with minimal understanding of crypto are subject to fraud. but for beginners, it is safe to invest if you hold bitcoin, even though the value is declining, but free of fraud, unlike new projects that are prone to scams, but greed will be close friends with someone, so they ignore the risks, and only think of big profits

Sorry, what you have said is not possible. Who will divide the wealth? And from whose pocket will the money come from? Bitcoin is not magic it does not automatically make the poor rich, because it doesn’t know whether you’re poor or rich, you just get what you can afford.

Don’t mind people that say Bitcoin can save you from poverty, they say that due to the first people that invested in Bitcoin most of them became millionaires later, and that’s because we that came in late started investing and causing the price to go up and those people turned rich overnight. This time the market is more than and for you to gain a little wealth is by luck, unless there’s going to be another bull run as has been predicted by some Bitcoin analysts.

Will possibility if ten richest person in the world buy and invest with higher amount in bitcoin, each of them invest more than 100,000 bitcoin and how come bitcoin raise to higher price, I think bitcoin have make community and keep support with bigger investor want hold and buy bitcoin with higher amount and save it for long time.

Stop enriching the boomer generation.
We should work toward ok boomer direction.
First to do is ditch the usd that’s fuelling the richest.

But as far as I know they are pertaining to the inequality of wealth in the case of fiat. Which is indeed what's going on right now. The rich gets richer, the poor gets stuck in poverty. This happens because those few people knew how to get around with fiat and it's also basically because of pyramiding. This happens oftentimes in the corporate scene.


In the case of bitcoin, this could still happen. The few whales are still generally richer than most of us here. But one thing they couldn't do that fiat can is control the price. Which I believe is much more desirable for the common joe as it allows them to make the most out of the coins they have right now. Unlike in fiat where they can control the price and basically make everyone poorer than they are if they want.

There is nothing we can do, whether you like it or not that is the way the world works and if anything bitcoin could make those differences even bigger as there is no way to take away your bitcoin legally without your permission, the real issue is what can be done to improve the life of the people living in poverty and that can only be done by the use and the advancement of our technology so it comes to the point it is dirt cheap and it can be given away for free or for a very low price.

Cryptocurrencies can make major changes. There are cryptocurrencies that have a fair distribution mechanism, ETN, PHT, and many others. You can mine them on your mobile phone. If you wish more you can mine from your computer, you can upgrade your computer and mine more. We don't need to depend on the current system anymore, there are alternatives for all of us.

I think this is a result of a failure of economic institutions as we are failing to distribute the wealth among people and we are just making the rich richer and making the poor, poorer which is really really sad. Let's hope we find a way to tackle it, and one important thing is to eliminate the implementation of a guaranteed-interest based investments like banks and stuffs from businesses.

Bitcoin was created to give freedom and transparency so it has nothing to do with the poverty of the world's economy but chances of funds will get diverse if everyone has cryptos and fiat become obsolete.

Well I don't know the exact numbers but currently at this time Bitcoin is not distributed evenly amongst all the users as well so in correlation with your topic its almost the same across the board.

But that is the issue, I have never heard of those coins but even if you are right about them, do you realize the huge barriers to entry just to mine those coins for the poor? They need a computer or a smart phone, they need a stable Internet connection and electricity, it may not seem like much to you but how many people do not have access to those 3 factors? Billions? This is why I say that the issue of the inequality in the distribution of wealth is not easy to solve.

This is why we are equal. It is really frustrating for me, this is one of those moments when i realise that no mather how hard i work i will never be between the richest people in the country (i try to be modest ;)).

It's scary to look at these statistics, but rationally speaking, what is scarier would be perfect equity.

People seem to be obsessed with equality, but when you have true equality, it means that people can't be rewarded for hard work, luck, or a combination of both. In that sense, the world would essentially become inefficient or at least relatively so compared to a world where there is some degree of inequality, but that gap can be individually closed through a function of work.

Of course, there are flaws. What I think BTC can do in this instance is provide a way for people in disadvantaged regions to have access to banking services (the unbanked, as we say), as well as giving international workers a cheap way of receiving their wages and being connected to the wider job markets.

In a morally decent world, there shouldn't be billionaires and homeless at the same time. I am not saying that there shouldn't be any billionaires in the whole world, but when there is so much wealth in just a very tiny amount of people and there are people who die because they can't find food to eat, that is not really a moral life that we are living right now.

Middle income people or poor people can't really help the homeless or starving, we should just have Jeff Bezos type of people have 80 billion instead of 100, enough of these 2000 rich people giving out we could literally build places that will house homeless people everywhere in the world and provide food for all the starving people at the same time.

This is not saying they should be poor neither, this is just saying they should pay an extra tax after a certain limit, like if a company makes over 1 billion dollars in profit, they should pay an extra tax that will directly go into helping out these starving people and homeless for example.

This topic has hardly anything to do with Bitcoin. I would say that the top 1,000 or so owners hold a large part of Bitcoins and on the other hand 99% of the world population doesn't own any cryptocurrency. That means that the wealth redistribution within Bitcoin is even more asymmetric when compared to the one with fiat cash. But it is not surprising. After all, wealth redistribution was not one of the targets of Satoshi Nakamoto when he invented BTC.

So what's wrong is the gap or the way we see it. At this point, early character education is needed so that future generations have great empathy for the surrounding environment.

We take the example of the views of the rich. Naturally, if spree-spree because they have worked hard and as a reward is spree-spree. But when you have high empathy, the glorious people will think, is it worth it to eat caviar for tens of thousands of dollars while around us there are disabled people who do not have the opportunity to work.

From the perspective of the poor, some think it is natural to steal food because they live below the poverty line. If the foundation of character education is strong then, they will not be easily discouraged and are willing to do any important work not breaking the law.

If each has a good character education, then the rich will try to create opportunities for the poor not just to make profits for their own wealth. Even the poor, when given the opportunity, are not just saying thank you or just expecting donations but doing their best so that the opportunities provided bring benefits to the community.

I think that bitcoin divided mostly the same as current money system. There are a lot of people with big wallets filled with bitcoins and about 80-90% dont have fairly even 1% from that. There wouldn`t be any fair way to divide it, simply because from the beginning bitcoin was bought with fiat and people with good investments good afford themselves much more rather than others.

Do you people think this is ok ? How we the poor people can do something and also make us to have some enough money and not a lot of stress? We should stop working for a whole year and prepare before of this to have enough food and other stuff? I really think this will make them think they will not become rich without us and the economy will fail without us.

Majority of the coins are held by gambling sites who started during the 2014 and then comes exchanges and web wallets and even with the risk involved in storing the coins in exchanges people do tend to take the risk even though they hear about massive hacks year in and out.
When it comes to mining, it was a commercial entity back in 2013 as people need to have block erupter to mine and then the ASIC came into the scene and if anyone thought home mining was the way to go to have a truly decentralized network, now we are seeing the opposite as a few huge mining farms control the entire network.

The 21 million bitcoin cap can be removed if the developers wanted to  :P.

Please don't beat the dead horse again and again. The limit for maximum supply will never be removed and the 21 million limit is going to be permanent. Why should the developers remove the limit, since it will reduce the value of existing coins and make them more similar to fiat currency? This is something that Ben Bernanke did to the United States Dollar. We don't want the same to happen to Bitcoin.

This is the unfair financial system of economy the whole world is suffering and crying about. The wealth of this world is in the hands of the very few who make the rest to pay heavy tax and make the few richer while the poor get poorer by a complex economic equation. This is why bitcoin would have ensure a good wealth distribution because it will ensure a large financial  inclusion and a bordless financial interaction.

That is pretty much the goal of communism and we know how that worked, some level of inequality when it comes to your wealth and income is inevitable, after all we are not going to pay the same to a surgeon than a maid, however we must concentrate on ways to diminish that gap somehow while still rewarding those that make greater contributions to society with more money, that is the middle ground we are trying to follow but as you know that is not an easy goal to reach.

It looks like you're talking about airdropping the coin in equal amounts to all the wallets and then start the adoption of that coin commercially. People don't believe in that anymore. There was a time when projects did this and succeeded in pumping their coin 10x by listing on an exchange.
In bitcoin's case, it's still in Mass adoption phase so once that is done, we will see how much a whale is holding and how much is divided into the poor.

In my country we have a saying that says "The money goes to the money".
And in capitalism we cannot stop this. The wealth is going to keep being accumulated to the rich people. Next year we are going to see another increase in the wealth of rich people (a big example is Jeff Bezos).

Bitcoin is created as a decentralized solution, it was never meant to bring equality between people, in my opinion until people do everything for money there will be no financial equality between them. I wonder could we live without money, like living from volunteer activities?

I am not beating the dead horse, i just said it is a possibility that can be changed and that does not mean that the developers are going to change that. I just said it is possible to change the limit and it is a real possibility if there is a consensus that the maximum cap can be changed it is possible to change the cap we have right now. It all depends upon the general consensus and nothing is written in stone as we have seen many changes in the short period of bitcoin.

Bitcoin doesn’t changes anything. You still can’t compare a poor person to a rich person when it comes to Bitcoin, because the difference is already there and there is no equality. A rich person will be able to buy more bitcoins than someone who is poor.

There are people who are able to buy more than a million dollar worth of Bitcoin, and I know for sure that I can’t afford that amount, so how do you say that I’m equal to those people? There is a huge difference. Let’s stop confusing people, bitcoin is not a route to escape from poverty, you’re still going to have to work to achieve something from Bitcoin, except that you’re lucky and your Bitcoin investment increases (and don’t forget the money you invest is still gotten from hard work).

Bitcoin will not be able to change economic inequality in society or solve the problem of poverty. We must change the system created by the upper class which incidentally exploits the middle and lower classes. Because the number of middle and lower classes is more then you can imagine if we can break the chain of wealth distribution flowing to the upper classes. We must create a system of consolidation so that the majority economy revolves around the middle and lower classes only, by way of independence from the middle and lower classes and avoiding dependence on the upper class.

A simple example of moving or turning the wheel of the economy in the middle and lower classes is to start shopping at traditional markets and street vendors around your home instead of supermarkets or mini markets. It started to reduce the use of large factory products and began to promote the home industry that creates factory products for daily needs such as detergents, bath soap, toothpaste. Especially if the production is organized differently, different houses so that the production of needs in a small environment can be met between neighbors.

Do not save your money in a bank, if you have a lot of your wealth, save your money in bitcoin or in a safe deposit box so that banks cannot use your money for the benefit of the upper classes.

If a campaign like this is carried out simultaneously and the middle and lower classes are compact to use the products produced by their groups, the gap will surely decrease.

there are easy to do jobs there like faucet, bounties , airdrops , etc that can give you a bitcoin or a crypto that you can exchange for bitcoin  but i guess there are still workd involved on these activites  .  we also hear many inspiring news that a person became rich after engaging on bitcoins or on crypto  , so its possible to happen for one of us that are also involved on here   .  those number of rich people are small compare to poor but when we combine those many number of poor people and thier wealth plus thier crypto/bitcoin hodlings . i think we can overcome them   ?

Unfortunately that is not how and what cryptocurrency was created for.  It was not meant to be a socialistic tool to even everyone in the world out.  What it gave is the ability to be their own banks and bank more freely.  Equality is not in the cards when crypto is bought and sold in an open market

Satoshi planned that Bitcoin would be fair divided, but something went wrong. But what did you expect? The rich don't care about the equality, they just want to get as much as possible.

Wouldn't you act the same if you'd have much more wealth than you do have now?
I mean we shouldn't blame the people in top 2000, but the economy system we all build around for past 100 years

That is inevitable, a person that has a lot of money can use that money to hire the greatest experts in whatever field of expertise he may like and improve his chances of making more money, while a poor person can only rely on his own abilities, and when we take into account that many of those rich people became like that because of their abilities then their advantage becomes even greater, as such it is impossible for such inequality in skills to not create an inequality in the outcome.

Well, it's "eat the rich" all the way, folks   :D

To topic: i don't think so, although I do feel that top 0,000...1% (those who are literally 30 persons vs 3,5 billion) did get their dough through good old "traditional" ways

That would herald the end of Bitcoin as we know it

So, in a way, it could be claimed that changing things which make Bitcoin Bitcoin (like the 21M hard cap) are not a real possibility for Bitcoin. Other than that, we don't actually need to change Bitcoin's major specs as we could easily hard fork it and call the spin-off Advanced Bitcoin, or whatever, with, for example, a more advanced hard cap. If you are going to claim that it won't be a genuine Bitcoin, one and only, then the same reasoning is equally applicable to changing the fundamental specs of a genuine Bitcoin, a Bitcoin that we are all familiar with

Bitcoin is not the solution we have in solving the problem of poverty, it’s not even among the solutions. Yes you can invest in Bitcoin and you might lucky and price would go up and you will make lots of money, but even for that to happen and for it to even benefit you, you will have to invest for a long term and probably years similar to what those that made it had to wait. And it’s not everyone that can do that, a poor person doesn’t even have money to be investing in stocks and assets, they will only be looking for means to get food on their table and not investment. You only talk about investment when you have more than enough on your table.

Solving the issue of poverty is something that is left for us to do, especially the rich in the society and the government. They should start by providing enough jobs, supporting pay equity, increasing minimum wage, and a lot of things to do.

I agree with the first part of your post (which I didn't quote)

But I disagree with this one. The point is, you can't "provide" jobs, even though some governments are trying to do exactly that. It can only be a temporary solution. The wealth of a nation entirely depends on the nation as a whole, not on its government or just some tiny part of it, the rich. To rephrase Bill Gates, if you are born poor it is not your fault, but if you die poor it is. I know it sounds somewhat rude and maybe even cynical to a degree, but isn't it still true by and large, and still more so with respect to an entire nation or country during its lifetime?