Is Bitcoin the biggest wealth distribution system ever?

[jseverson]

He has a point. His basis of saying that Bitcoin is the biggest wealth distribution system ever is its ability to break down financial barriers, as per this quote:

Mr. Mutai describes cryptocurrency as a global economic equalizer capable of circumventing the barriers that prevent ordinary citizens from accessing financial markets.

He's basically saying that to some degree, Bitcoin and other cryptocurrencies help narrow the gap between rich people and poor people in terms of opportunities. While rich people still have the upper hand because they have more money they can invest, poor people are free to ride the wave with whatever little money they have.

[gabbie2010]

I quite agreed with Eugene mutai that bitcoin is a wealth distribution system, personally since I started training myself in cryptocurrency system I had also benefitted from the wealth generated by bitcoin by offering services and earning extra income to my monthly salary, although the wealth generated by bitcoin might not be equally distributed but it offers opportunities to peoples from any part of the world to benefit from it.

[fiulpro]

Bitcoins with over a hundred million users is successful in distributing wealth in many ways.
For everyone definition of wealth distribution is different since they choose to consider different aspects.
What I feel is.. if someone brought bitcoins when the price was like a dollar or two.. and if they kept it for longer haul then obviously the growth in their wealth is tremendous right now , there have been many such cases where people became millionaires because of luck and offcourse bitcoins.
At the same time its enabling the common community to earn and in fact its opening options for trading and minning for different people thus it for sure has distributed the wealth thus I would say yes.

[Maestro75]

The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/

I say "NO!"

Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.

I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.

I would say yes it has. However, it is not a shift from the wealthy in the fiat system to the poor. It is from paper based level to intellectual level. It has succeeded in shifting wealth to those who are Internet suavy. Many people who have keyed into what Bitcoin is are those who have an awareness of what bitcoin is and are Internet compliant.

[Shamie1002]

I agree that Bitcoin as a digital or virtual currency, it has the ability to be distributed worldwide but with the limited resources for computer illiterate or not yet computer civilized. Also, bitcoin is wealth. It's volality turns out be be a fortune and definitely within wide use already.
But the sense that you are pointing out is that not everyone benefits from it because not everyone knows it yet. And another example is in my country, culture are preserved that is why we can not say that remote areas could probably reach this kind of currency.
Maybe there are other ways to make an equal or wider distribution. For years, it is not yet clearly done but there are always possibilities.

[Irdina]

I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.

[paul00]

I must say that when it comes to technology bitcoin can be considered as a great way on the contribution of wealth thru online. I agree that it has been able to make poor and rich people become part of it an be able to earn and enjoy the profit of bitcoin thru their hardships and consistency. Bitcoin may look simple for some but when you actually dedicated yourself into it you will see and experience that it also take some time and effort to earn something from it. What we must do now is show more positive things that bitcoin can do for it to be greater on distributing of wealth to each and everyone of us.

[kimochidesh]

I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.

Even share traders also become millionaires and billionaires overnights. IF BTC is wealth distribution system why not Stock market. Rising price of BTC not a glory or something, it is just a demand and supply theory. As supply of BTC is limited and Demand is keep on increasing Day by day, therefore, its price is rising continuously. 

[sdmaxx]

Bitcoin has very good future and it is an awesome field to invest on. 
It went 1000% up in last 12 months. Even if you bought BTC a year ago, you would have x10 times investment by now. 

[henmark]

I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.

Yes the bitcoin is able to pay the bills of the bitcoin but now all the people are having the bitcoin and they are now making the bitcoin go more and more high.

Bitcoin made the wealth distributing at the same rank and the power now all the poor people are able to have the things that the rich people use to buy and they hold so the bitcoin is the best thing I hope the bitcoin will increase the power for the people now very soon.

[fiomcorka]

I think, bitcoin one of the wealth distribution system,Many bitcoin traders become millionaires even billionaires.Perhaps you can say this is a bitcoin glory,Bitcoin is increasingly popular among the people down to the top.

Yes bitcoin is providing people to get wealthy in very short time and meet their financial needs. People are getting obsessed with bitcoin due to the fact that it is quick and easy to be transferred and gives high output. It is helping people to earn and meet their financial needs, if even they are not having a regular job. So yes bitcoin is the biggest wealth distribution system ever.

[GreenBits]

The guy in this article says "yes!" - https://news.bitcoin.com/76420-2/

I say "NO!"

Bitcoin has created a ton of wealth, perhaps the biggest wealth CREATION system in this decade. But it hasn't distributed wealth. It has enabled the rich and poor in the fiat system to get wealthy alike, correlated to the investment or energy they've devoted to bitcoin. What it hasn't done is shifted wealth from the wealthy in the fiat system to the poor (or anyone) in the crypto currency system.

I'm firm in my beliefs on this but would be eager to hear others opinions. I think there's a lot we could discuss.

i agree with your assessment, but we differ on how we see value. there isnt a set amount of value in the world; value can be created seemingly at random (observe the bch fork). vlaue is speculative in most cases, people pay what they think something is worth, not its actual intrinsic value. so while i concur that mostly upper class folks have benefited from bitcoin, it has massively redistributed the proportion of value by giving it to the lower and middle class folks that were fortunate enough to learn about btc

[cheesyspoils]

Yes. This is where bitcoin will shine the most giving emerging markets equal access to money no more emerging market currency basket