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Author Topic: Is Bitcoin and Crypto Currencies the great equalizer?  (Read 871 times)
KaranRaut
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September 17, 2017, 06:41:11 PM
 #1

For long the banks have ruled organisations and organisations and businesses the Government.
So to say that the banks have had their monopoly for far too long now. The cats out in the open and every one can see the skeletons in their closet.

Do you think that the Bitcoin revolution will server as the great equalizer?
Is the Crypto revolution revolution going to bridge the gap between the poor and the rich; the market and the consumer?

Let me know what you think..

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BingoDog
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September 17, 2017, 06:46:33 PM
 #2

Cryptocurrency can offer different opportunities to make profit and in a way can help the poor or unemployed but they can't solve the problems of poverty and econimic differences in socitey. One of the reason is also that bitcoin and other cryptocurrencies are not equaly available to everyone. To have some use of cryptocurrencies you also have to have some education, access to Internet and we all know how many people, especialy in the poor third world countries don't have that.
Unfortunately, bitcoin can't save the world.

malaj
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September 17, 2017, 06:46:54 PM
 #3

We're still young but we've got the potential.

We need good leaders and path finders. And for certain we need the big whales in the ponds to behave.
KaranRaut
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September 17, 2017, 06:52:36 PM
 #4

Cryptocurrency can offer different opportunities to make profit and in a way can help the poor or unemployed but they can't solve the problems of poverty and econimic differences in socitey. One of the reason is also that bitcoin and other cryptocurrencies are not equaly available to everyone. To have some use of cryptocurrencies you also have to have some education, access to Internet and we all know how many people, especialy in the poor third world countries don't have that.
Unfortunately, bitcoin can't save the world.

Thank you for your comment.. I agree there's much ground work required to bring all into the circle.. And I hate the divide and I wonder what is causing it.. I read somewhere that the 3rd world countries owe so much to their Central banks and World banks that they can't invest much towards development and education.. And this leads me to think where did the central banks get the money to lend to these poor/developing nations.
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September 17, 2017, 06:56:38 PM
 #5

For long the banks have ruled organisations and organisations and businesses the Government.
So to say that the banks have had their monopoly for far too long now. The cats out in the open and every one can see the skeletons in their closet.

Do you think that the Bitcoin revolution will server as the great equalizer?
Is the Crypto revolution revolution going to bridge the gap between the poor and the rich; the market and the consumer?

Let me know what you think..

Well, I don't see crypto currencies as an equalizer in the society. The parity between the poor and riches can't be bridged using crypto currency. However, crypto currencies can be a game changer if it is widely legalized by the governments. Banking system is a century old system and it is not easy to break that position.

However, crypto currency has certainly built up a parallel economy where a lot of people are earning a good income and living a decent life. So it is definitely increases the standard of living for a group of tech-savy people.

But it is also true that banks are worried about the growth of crypto currency. Within 1-2 years, it will reach a trillion dollar parallel economy which is even higher than the GDP of many countries. But it is not structurally built to replace fiat or banks.
ManavKalyan
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September 17, 2017, 06:58:54 PM
 #6

Cryptocurrency can offer different opportunities to make profit and in a way can help the poor or unemployed but they can't solve the problems of poverty and econimic differences in socitey. One of the reason is also that bitcoin and other cryptocurrencies are not equaly available to everyone. To have some use of cryptocurrencies you also have to have some education, access to Internet and we all know how many people, especialy in the poor third world countries don't have that.
Unfortunately, bitcoin can't save the world.

Thank you for your comment.. I agree there's much ground work required to bring all into the circle.. And I hate the divide and I wonder what is causing it.. I read somewhere that the 3rd world countries owe so much to their Central banks and World banks that they can't invest much towards development and education.. And this leads me to think where did the central banks get the money to lend to these poor/developing nations.

Maybe we can be the pathfinders.. By leading as examples by creating a CSR crypto currency that would serve as funds for the underprivileged.. A crypto community where they will be happy to donate a small fraction of their daily gains for the cause..  
KaranRaut
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September 17, 2017, 07:06:11 PM
 #7

For long the banks have ruled organisations and organisations and businesses the Government.
So to say that the banks have had their monopoly for far too long now. The cats out in the open and every one can see the skeletons in their closet.

Do you think that the Bitcoin revolution will server as the great equalizer?
Is the Crypto revolution revolution going to bridge the gap between the poor and the rich; the market and the consumer?

Let me know what you think..

Well, I don't see crypto currencies as an equalizer in the society. The parity between the poor and riches can't be bridged using crypto currency. However, crypto currencies can be a game changer if it is widely legalized by the governments. Banking system is a century old system and it is not easy to break that position.

However, crypto currency has certainly built up a parallel economy where a lot of people are earning a good income and living a decent life. So it is definitely increases the standard of living for a group of tech-savy people.

But it is also true that banks are worried about the growth of crypto currency. Within 1-2 years, it will reach a trillion dollar parallel economy which is even higher than the GDP of many countries. But it is not structurally built to replace fiat or banks.

Thank you for the comment.. I see your pov and how this is currently benefiting only the tech-savy.. Hopefully the system becomes more inclusive soon, enabling all across all corners and statuses ..
ManavKalyan
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September 17, 2017, 07:15:05 PM
 #8

we've barely seen the tip of the iceberg..
I envision great changes and disruption to follow...
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September 17, 2017, 07:16:53 PM
 #9

we've barely seen the tip of the iceberg..
I envision great changes and disruption to follow...
I agree, It is still in the beginning. Watch this space!!!
KaranRaut
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September 17, 2017, 07:52:13 PM
 #10

we've barely seen the tip of the iceberg..
I envision great changes and disruption to follow...
I agree, It is still in the beginning. Watch this space!!!

Absolutely!
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September 17, 2017, 07:59:30 PM
 #11

Cryptocurrency can offer different opportunities to make profit and in a way can help the poor or unemployed but they can't solve the problems of poverty and econimic differences in socitey. One of the reason is also that bitcoin and other cryptocurrencies are not equaly available to everyone. To have some use of cryptocurrencies you also have to have some education, access to Internet and we all know how many people, especialy in the poor third world countries don't have that.
Unfortunately, bitcoin can't save the world.
Yeah it is sad that others can't grab this opportunity,
there are other person's who can't really hang out in the internet or don't really want to learn it,
I know some few people who doesn't want or not really interested in it even though they know how much they could earn in crypto currencies.
ManavKalyan
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September 17, 2017, 08:04:36 PM
 #12

Cryptocurrency can offer different opportunities to make profit and in a way can help the poor or unemployed but they can't solve the problems of poverty and econimic differences in socitey. One of the reason is also that bitcoin and other cryptocurrencies are not equaly available to everyone. To have some use of cryptocurrencies you also have to have some education, access to Internet and we all know how many people, especialy in the poor third world countries don't have that.
Unfortunately, bitcoin can't save the world.
Yeah it is sad that others can't grab this opportunity,
there are other person's who can't really hang out in the internet or don't really want to learn it,
I know some few people who doesn't want or not really interested in it even though they know how much they could earn in crypto currencies.

Like many people don't day trade in the secondary market either... but due to the deflationary nature about bitcoin and if the system sustains one can just buy and HODL..
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September 17, 2017, 08:07:16 PM
 #13

For long the banks have ruled organisations and organisations and businesses the Government.
So to say that the banks have had their monopoly for far too long now. The cats out in the open and every one can see the skeletons in their closet.

Do you think that the Bitcoin revolution will server as the great equalizer?
Is the Crypto revolution revolution going to bridge the gap between the poor and the rich; the market and the consumer?

Let me know what you think..

It is not an equaliser. It just redistributed wealth. Early adopters are the nouveau rich. But nobody is going to get out of poverty because of Bitcoin or blockchain technology.


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September 17, 2017, 08:10:11 PM
 #14

For long the banks have ruled organisations and organisations and businesses the Government.
So to say that the banks have had their monopoly for far too long now. The cats out in the open and every one can see the skeletons in their closet.

Do you think that the Bitcoin revolution will server as the great equalizer?
Is the Crypto revolution revolution going to bridge the gap between the poor and the rich; the market and the consumer?

Let me know what you think..

It is not an equaliser. It just redistributed wealth. Early adopters are the nouveau rich. But nobody is going to get out of poverty because of Bitcoin or blockchain technology.

Thank you for the comment...
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September 17, 2017, 08:17:41 PM
 #15

What we need is a leader in the field of finance to realize the potential of blockchain technology and of bitcoins and other cryptocurrencies. A leader who cares about the growth of the economy and citizens of the world rather than his own personal gain. When institutional leaders start to accept bitcoin and incorporate it into everyday people's lives is when we will see more mass adoption and acceptance. Then bitcoin will be easier to use.
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September 17, 2017, 08:23:48 PM
 #16

Whatever this is, we still do not know the future. And for the problem of social inequality is how we can share with people who are more difficult than us. And again the crypto server, I think this is already on a good equalizer.

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KaranRaut
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September 17, 2017, 09:25:39 PM
 #17

What we need is a leader in the field of finance to realize the potential of blockchain technology and of bitcoins and other cryptocurrencies. A leader who cares about the growth of the economy and citizens of the world rather than his own personal gain. When institutional leaders start to accept bitcoin and incorporate it into everyday people's lives is when we will see more mass adoption and acceptance. Then bitcoin will be easier to use.

Thanks for the comments.. I see we're headed int he right direction then.. Many governments are already looking into the possibility of introducing block-chain based  digital fiat currencies.. Like India and Japan and Switzerland ..
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September 17, 2017, 09:34:40 PM
 #18

Whatever this is, we still do not know the future. And for the problem of social inequality is how we can share with people who are more difficult than us. And again the crypto server, I think this is already on a good equalizer.

Thanks for your comments..
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September 17, 2017, 10:26:32 PM
 #19

What we need is a leader in the field of finance to realize the potential of blockchain technology and of bitcoins and other cryptocurrencies. A leader who cares about the growth of the economy and citizens of the world rather than his own personal gain. When institutional leaders start to accept bitcoin and incorporate it into everyday people's lives is when we will see more mass adoption and acceptance. Then bitcoin will be easier to use.

Thanks for the comments.. I see we're headed int he right direction then.. Many governments are already looking into the possibility of introducing block-chain based  digital fiat currencies.. Like India and Japan and Switzerland ..


No one is selfless, not even the bounty programs Cheesy Lol... Everybody is doing what they're doing with their interests in mind... Isn't it?
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September 17, 2017, 10:38:18 PM
 #20

Bitcoin and cryptocurrencies are going to help lots of poor people to become very rich in the future.
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