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

[senyorito123]

For me Bitcoin gives big opportunity to the people to become rich it's not just for rich people but for everyone,All we need to do is to work hard and be smart in the field of Cryptocurrency because it is our only way to become wealthy.

[1714870451]

1714870451

[1714870451]

1714870451

[1714870451]

1714870451

[1714870451]

1714870451

[GangNamSK]

Many people became rich thanks to the crypto currency. But that to achieve success in this business you need to work hard, to explore the market and be patient. It all depends on the ability to manage your time and money.

Exactly. In this market, many people become rich thanks to electronic money.
But to achieve that we have to work hard to get results.
Knowledge, skills and efforts are good every day.
That shows that it totally depends on how you manage your personal finances.

[wolfdragon]

Many people became rich thanks to the crypto currency. But that to achieve success in this business you need to work hard, to explore the market and be patient. It all depends on the ability to manage your time and money.

Exactly. In this market, many people become rich thanks to electronic money.
But to achieve that we have to work hard to get results.
Knowledge, skills and efforts are good every day.
That shows that it totally depends on how you manage your personal finances.

Yes we need more knowledge and strategies to be able to earn here in bitcoin also we need to be more cautious in making investments and always be careful in giving huge investments.

[Boris_sahnevich]

I think that people who are constantly learning and are not missing a good moment are getting richer. The poor do not get richer, because they think differently, unlike the rich. Although among the poor there are people who are successful.

[Efiraboy]

Off course bitcoin redistribute wealth but at the same time it only those that have the money to invest I'm bitcoin that still partake in the distribution, bitcoin is not just given just like that you have to own it. And again bitcoin as a financial revolution in the world financial system give it user the total freedom over they found.

Yeah that is the main point that only those can take advantage of bitcoin who have money for investment and those who have no money for investment in bitcoin cannot take any advantage of bitcoin. I think that crypto is also a currency and rich investors will become richest while others will take no benefit of it. This is not equal redistribution of wealth.

[bohr]

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

Bitcoin specifically, and crytpo generally, doesn't do anything magical in regards to redistribution. Even if the whole world was denominated in Bitcoin, it wouldn't mean anything for redistribution. Redistribution takes active effort, and Bitcoin doesn't actively do anything on it's own. Asking if Bitcoin has a redistribution effect is the same as asking if the USD has a redistribution effect. The answer is no, because both are representations of wealth and don't address wealth inequality or wealth distribution. I don't know where the notion of Bitcoin having anything to do with wealth equality even came from, but many people seem to have this notion that it's a magic bullet that will solve all the world's economic problems, and that notion is silly and has no basis in fact.

The great advantage of bitcoin is that it does not steal from you using the inflation tax, the wealthy can invest in all kind of assets and they have a very small amount of cash available if you compare it to the size of their assets which means they are not that affected by inflation since their assets go up with the inflation but for the rest of the people that cannot do that and keep most of their savings in fiat they lose a lot of money every year, making the rich even richer.

Yeah this is the case with bitcoin. They are not easily affected with the inflation as fiat money often do. This save people from huge losses and they can easily earn money through it. So don’t just let things die in their own shell. Rather use them as they are only for your service. Don’t just hesitate to get into this world of bitcoin and make amazing money.

Bitcoin hasn't been around anywhere near long enough to talk about what it does in relation to inflation. Even if it had been, the track record is absolutely horrendous in terms of protecting value. If you're investing in Bitcoin to protect yourself from the 1-2% loss of value due to inflation per year, you have to be ignoring the substantial risk of 60% loss of value that Bitcoin is prone to suffer in any given year. That's an idiotic way to manage risk and basically cutting off your nose to spite your face.

You are being very unfair to bitcoin because you are using a time interval in which the growth of bitcoin is negative, if we were to randomly select a date in which you invested in bitcoin and you held to this day in more than 90% of the cases you will be in profit, only those that invested in bitcoin in December have big losses, everyone else has big profits and at the same time you are underestimating the rate of inflation, the government may say that their inflation is 1% to 3% per year but anyone keeping track of the price in their country know that is a lie, inflation is closer to 10% per year in most countries.

[crypto90]

Bitcoin and all the other altcoins does both of them. it makes the rich richer, because those that have money and want to invest in crypto have the possibility of buying a lot and se;; for huge profits. but poor people or medium class people also have a chance especially those that mined or bought when the price was really low. that way bitcoin and the other alcoins made some simple people rich and gave the same opportunity to others.

[Elips1]

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

I think through bitcoin we have a big chances to become rich while the other wealthy people become more wealthy through investing, trading and mining. So it's better to follow them that they adopt the importance of the new technology currency.

[East2011]

I think bitcoin is making the poor rich and the rich richer. But it depends on how you will do bitcoin. And how uou handle the struggles that may come along the way of bitcoin.

[dublados]

Like some other money, bitcoin isn't redistributing wealth to the ordinary mass. In any case it has given a monstrous opportunity to the educated and tech-savy mass. People who are incredible with PCs can even now pick up bitcoins or distinctive fiscal structures by giving diverse help of the crypto arrange. However, that doesn't generally mean sensible scattering is going on. Only people with a particular plan of attributes are met all requirements to obtain it. So it is giving that particular plan of people a chance to go ahead with a not all that awful life anyway not to all levels of society.

[NevejElad]

I think that the bitcoin, redistribute wealth but to the point that when you  have the small investment ,you will also have little profit while when you have a huge amonut of investment you will also gain ,a large quantity profit , do the distribution of wealth , is according to the ratio and proportion, like if you are a junior member you get one stake, while a legendary gets a seven stake, that is the wealth distribution of bitcoin.

[Sled]

I think bitcoin is making the poor rich and the rich richer. But it depends on how you will do bitcoin. And how uou handle the struggles that may come along the way of bitcoin.

It is indeed that bitcoin is making the poor to become rich and the rich to become richer because the bitcoin has a lot of opportunities that the people are grabbing because they know the benefits of having bitcoin as an investment and it is not a type of investment that is like a joke because bitcoin is a serious investment that is bringing serious returns.

[helenmitchell44]

If you are rich to begin with, being richer is a lot easier. Having money allows you to be rich by investing your money and quadrupling it. Kinda similar to The Three Servants parable. The one who had been given more was able to double his money while the poor just sat and did nothing. Bitcoin has given the poor an opportunity to earn money but it's not as easy when you have a good head-start (money in this case). You can make the most out of bitcoin when you are able to invest in it. So I would say it redistributes more wealth towards the rich than the rest.

[SaraClarke1212]

Bitcoin is not like any other currency. Because it has a certain reserve, not everyone can own a bitcoin, Bitcoin is not evenly distributed to everyone. So bitcoin does not enrich everyone but only enrich the rich.

[hot_ads]

Only rich people can hold BTC for a long time, and in the eyes of most poor people, BTC increases several times and they may sell it directly.

[laracastvue]

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

In my own opinion, bitcoins and other cryptocurrency are helping different people in their life because it gives more income for those people who are not earning so much in their life.

[AndreaPhillips]

Only rich people can hold BTC for a long time, and in the eyes of most poor people, BTC increases several times and they may sell it directly.

But there are also lucky people keeping a small amount of BTC and it seems they have forgotten that they own it. And then one day, they will become millionaires

[0t3p0t]

For me bitcoin distributes all the people, rich people, it will be more wealth if they invest in bitcoin and the poor will become rich and maybe become a billionaire if they have been stockpiling bitcoin from 2010. Have heard much news about this, where people become billionaires because of bitcoin. Keep doing the best, then you will become rich because it is distributed from bitcoin.

I totally agree with your opinion mate. That is why we have to spread the good news about the ability of Bitcoin to change peoples fortunes and give us all financial freedom depending on our hardwork, effort, motivation and patience. As a less fortunate person living in a lower status in the society , I was once afraid about Bitcoin investments because of FUD that was way back 2013 I think wherein a lot of people throwing shit on social medias about Bitcoin like saying it is a scam that is why I hesitate to get in that year and what had happened is that two years after that incident I came here in this Bitcoin community. My point is that there are some hindrance or obstacles towards adopting the idea but if poor people like me has courage I think I am rich now.

[BryanRoseWalker]

I think bitcoin is making the poor rich and the rich richer. But it depends on how you will do bitcoin. And how uou handle the struggles that may come along the way of bitcoin.

It is indeed that bitcoin is making the poor to become rich and the rich to become richer because the bitcoin has a lot of opportunities that the people are grabbing because they know the benefits of having bitcoin as an investment and it is not a type of investment that is like a joke because bitcoin is a serious investment that is bringing serious returns.

congruent technology in bitcoin continues to grow every year, its potential will open the minds of many people to invest periodically, this will make people richer in the end because it decides to trust and actively involved in the exchange market, the most important is the experience and understanding, so the speculation become more positive, and it becomes a force for bitcoin to keep going nonstop.

[MiukoOk]

BTC market is a free market, and anyone rich is thanks to their patience and their patience. If you have less money you should invest less and vice versa, the rich are like people. poverty. no one more than anyone