Do you think bitcoin redistributes wealth or just makes the wealthy richer?

[geopolisch]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

One thing that cryptocurrencies have done is give the average person a chance to get in on something at the beginning that has potential to make us wealthy. We don’t have to rely on stock brokers or Wall Street investments where they have the inside information that the average person doesn’t have. Cryptocurrencies gave us a head start over the banks this time.

Bitcoin is the reason for these people who are smiling now and enjoying a satisfied life. The thing is that crypto currencies especially bitcoin has changed the lives of people in very good way.

This crypto currency i.e. bitcoin has become the mainstream investment at present and it has clearly beaten real estate and gold badly. These two traditional methods have very low rate of profit and they cannot make your rich.

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[Kotone]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

I think that cryptocurrency and bitcoin are able to redirect the problem of wealth into other people as well. It does not only gove more income to the rich but also gives opportunity to other clesses of society to be in charge of their own financial flexibility and spending by giving them the resources to do what they like. It giives them a chance to make themselves richer and try to be in the uooer class

[pocketfullofpoke]

If we look at it on a larger scale, those rich whales who have voluminous amount of bitcoin have become more rich even if a small rise of bitcoin's price. Yes we know that bitcoin is indeed the biggest wealth distribution of this time but i think those who are just small investors could hardly feel about wealth distribution by bitcoin taken place.

[Shanmatthew]

I think, both. It redistribute wealth to those person who had engaged themselves here starting with nothing, and got to gain everything, then it make wealthy richer, since they already had a background in invesment and handling money for long term matters.

[Tizianodg]

The Bitcoin (labeled by many as smoke and bubble) today, despite not having established itself as currency, has left in its path new rich. Yes, people who either bet as we have said or even some who just out of curiosity and when the currency was practically worthless loaded their wallet and today they find that they have $ 1,000,000. Today Bitcoin sounds in the media and while it is still not used massively it is no longer smoke or speculation, and if it were and tomorrow is worth $ 1, it has already left many people with thousands of dollars in their wallets. In fact, I could say that I know several kids who bought themselves "just in case" a good gamer machine and, in passing, they mined that today they have the necessary coins to buy a high-end car. Bitcoin is perhaps the biggest revolution the Internet brought after the Internet itself. It may not be the winner (even if you have all the ballots seriously) but you do have most of the characteristics that a decentralized currency should have.

[Lora_ng15]

I think bitcoin does richer than clever people, it is possible to carry a part of the rich and a part of poor people to them.

[kasansa]

Ofcourse bitcoin works it redistributes wealth to those who are wealtier but for the one richer to be wealthy needs extraordinary skill, smart steps with some more passion. Over all bitcoin uplift to both segments as well as to common man and to the wealthier, richer.

[Feuerbach]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Bitcoin is not a means of redistributing wealth. It is a currency and an investment asset. The Cryptocurrency allows as well as rich to become even richer, and not to the rich people to earn money

[futile-resistance]

I think, both. It redistribute wealth to those person who had engaged themselves here starting with nothing, and got to gain everything, then it make wealthy richer, since they already had a background in invesment and handling money for long term matters.

No, I think that is only making everyone richer. It is not the concept of whether it is helping someone from scratch or someone wealthy is using it for their own concerns. No this is not like it. Bitcoins are there for everyone. Every wealthy man is using for his earning, and every poor man is working on them to get a better income from bitcoins. So this is all about the hard work, chances are same.

[Thumbelina1]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Bitcoin cant be blame if everyone who are already rich gets richer and some people lives in the same way.The person is the one who creates his or her future.They are the one who are going to decide what kind of life and what decisions they are going to make.Like in selling bitcoins, if they seen its price good then they are going to sell it but if they have doubt then they will not.Wise decisioning is what needed.

But most of them are rich because of bitcoin and bitcoin is allowing them to have more income per day, a lot of investors are investing in bitcoin but for better result we will have to wait for the long time. Bitcoin is being use by a lot of people for different purposes as some of them are using bitcoin as a job and some of them are using bitcoin to get daily needs, some are using bitcoin to store the high income and capital as a saving so bitcoin can be used by many people for different reasons.

[Hell-raiser]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Bitcoin is not a means of redistributing wealth. It is a currency and an investment asset. The Cryptocurrency allows as well as rich to become even richer, and not to the rich people to earn money

But even if it is a currency, which it is not, and an investment, or rather a speculative asset, this is how it works in practice. Bitcoin is a zero-sum game as far as wealth is concerned, so it is a means for redistributing wealth by its very definition. You can gain wealth through it only by taking it from someone else, there is no third option. You win, someone loses, here's the epitome of wealth redistribution.

[HereNow]

Not quite, because the rich can purchase more Bitcoins than the poor. They can buy more mining power, and so on.

[Gracechen17]

My opinion, i think both and both. The rich take advantage of the opportunity to buy with their wealth and the poor can have the opportunity to not invest but could participate in bounty campaigns and be paid in bitcoins or altcoins which later they can trade for bitcoin. I am a witness of some poor people who had starting from zero in bitcoin but now  are multi-millionares.

[fishball]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Well as what i can observe, it pretty sure distributes wealth among other people. Just like my normal students, my friends and other co-workers they really benefit from it. They are not that rich but they are completely changed in terms of financial status.

[micleeiu398]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

One thing that cryptocurrencies have done is give the average person a chance to get in on something at the beginning that has potential to make us wealthy. We don’t have to rely on stock brokers or Wall Street investments where they have the inside information that the average person doesn’t have. Cryptocurrencies gave us a head start over the banks this time.

I’m not going to say that Bitcoin does either of those mentioned by the op, I will just put it somewhere in-between that. It doesn’t distribute wealth, I believe it has to do with luck, so if you’re lucky, you make money more money than the other people. It doesn’t work in favor of anyone; doesn’t work in favor of rich guys, neither does it for the poor ones.

[madhavanmalolan]

I do not think there is a solid answer here.
This question demands the worst answer - "Depends"

It really depends how you are  looking at the situation.

Making the wealthy richer This is true at two levels.
 - People who can afford to build huge machines to mine coins, will be rewarded with more coins.
 - People who can afford to buy more, get more rewards (if the price goes up). This is true for investments in general.

Redistribution of wealth
 - Bitcoin allows people in countries under an oppressive government to keep their wealth safe. This is redistribution in the sense that it is not controlled by the government
 - Bitcoin now allows easy flow of transactions across borders. Now, i can do some freelancing as a developer for a client on the other side of the globe without losing half the earnings in wire transfers
 - People can invest in Bitcoin even if they are not accredited investors. This allows a person with modest investments to take part in what would be otherwise considered a risky investment.

[zhelis74]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

One thing that cryptocurrencies have done is give the average person a chance to get in on something at the beginning that has potential to make us wealthy. We don’t have to rely on stock brokers or Wall Street investments where they have the inside information that the average person doesn’t have. Cryptocurrencies gave us a head start over the banks this time.

I’m not going to say that Bitcoin does either of those mentioned by the op, I will just put it somewhere in-between that. It doesn’t distribute wealth, I believe it has to do with luck, so if you’re lucky, you make money more money than the other people. It doesn’t work in favor of anyone; doesn’t work in favor of rich guys, neither does it for the poor ones.

No, rich man can easily invest and they can buy any coin as they want so they have more opportunity of getting more profit, unlike us that we spend more time and effort for the bounty campaign and rely only of what the managers can give, but in the long run i still believe that rich man and ordinary crypto worker can still have the same amount of profit to get and the advantage of the wealthy man is only they don't spent more effort to have more profit.

[Rubble898zaitO]

For me it's not a total redistribution of wealth, I think the better term is Bitcoin is giving people an equal opportunity to earn and have a better financial status in life. It is definitely not for all, it requires knowledge, skills, patience and hardwork so it is still depends on the person and how much he wants to have financial freedom.

[BartS]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Bitcoin is not some sort of communist coin to distribute the wealth, if you want bitcoin work for it, bitcoin in fact goes against that once you have a bitcoin unless you lose it by mistake no one can take that bitcoin away from you, if anything bitcoin is build against that idea, there are always going to be people with more wealth and as long as they obtained that wealth legally then they have all the right to preserve that wealth to themselves and their loved ones.

[Hopeful2017]

Just that... do you think there is any re-distribution effect at all due to bitcoin?

Bitcoin doesn't redistribute wealth nor making the wealthy richer. Bitcoin needs to be worked for so that you can have it. Bitcoin can provide you wealth even if you are poorest person in the world if you have the hardwork. Bitcoin also gives us the opportunity to have wealth, chance for investments and to acquire assets.