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Author Topic: Do you think bitcoin redistributes wealth or just makes the wealthy richer?  (Read 1740 times)
Marlo0619
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August 03, 2018, 03:39:50 AM
 #401

I think both. Because cryptocurrencies like bitcoin helps people to get an extra income. Bitcoin makes people rich and the rich people became more richer. It just depends on the users or the people. If they want to use bitcoin, then it will help them.

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August 03, 2018, 04:42:54 AM
 #402

The rich get richer because they know how to make their money work for them. Poor people make themselves poorer because they are not financially educated. Bitcoin has nothing to do with why the poor get poorer and the rich get richer. Bitcoin is a good store of value and if we believe in its objective, then we should take the opportunity to buy whether you are poor or rich. Everyone can buy Bitcoin since its divisible by any amount.
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August 03, 2018, 04:48:53 AM
 #403

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.

Yes. Can bitcoin help rich people make more money. There are also many other ordinary people who are rich by investing and keeping bitcoin. Bitcoin is great as it offers greater opportunity and value for the people. Anyone want to make a profit thanks to the bitcoin investment, and accept a bit of risk.
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August 03, 2018, 05:01:41 AM
 #404

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

All the markets are supposed to be helping everyone to get wealthier but the fact is that noobs just lose their money and make the rich richer.
I would say, to all people out there, all you need to do is educate yourself a little so that you wont lose all your money for nothing which just make others rich.
Rizky Aditya
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August 03, 2018, 06:53:17 AM
 #405

Just that... do you think there is any re-distribution effect at all due to bitcoin?
Uuhm… there is a always an opportunity for the poor to get rich through Bitcoin, although some of them are not successful. There is just an opportunity for everyone but I believe that the rich are more opportune cause they can just manipulate the price and once it goes up they will withdraw (that is so evil and is not something people should be doing if they really want to help this community.

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bohr
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August 03, 2018, 08:59:31 PM
 #406

I think that bitcoin makes richer savvy people who are not afraid to take risks and catch the moment.
That is completely correct, many people are not sure to invest in bitcoin because they are afraid about what it may happen but they do not realize that if they do not invest now they are going to let go one of the best opportunities they will have in their lifetime to become rich, I cannot wait for some decades to pass and then people begin to brag about when they got in bitcoin and most people talk about dates after 2020 while all the current member of the forum can give a date way before that.
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August 03, 2018, 09:46:17 PM
 #407

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

Yes,  bitcoin gives us all opportunity to have a better life as to becomes wealthy but it depends our capacity also. Rich people are more advantages in gaining big amount of profits. Because they can afford to buy more coins as they wants. Unlike low level people they can buy coins with a minimal amount, and its depends the capacity of the amount of their money.
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August 03, 2018, 10:54:41 PM
 #408

Uuhm… there is a always an opportunity for the poor to get rich through Bitcoin, although some of them are not successful. There is just an opportunity for everyone but I believe that the rich are more opportune cause they can just manipulate the price and once it goes up they will withdraw (that is so evil and is not something people should be doing if they really want to help this community.
The opportunity is for everyone rich or poor to grab but we just need to have knowledge how to. Rich people had the advantage over the poor cause they had the resources to manipulate things they want. We are all here to gain profit honestly so every opportunity that comes with profit, everybody will grab.
gamalzour
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August 04, 2018, 06:18:17 AM
 #409

I think that bitcoin makes richer savvy people who are not afraid to take risks and catch the moment.

You can be rich if you are willing to take risk and that is the nature of life, cryptocurrency is a big help for everyone because in this way people will have more opportunity in their life.
Bravery is one of the important skill that works for you every time. Since your best efforts are to be appreciated, you must show some bravery element to achieve them thoroughly. When you are getting in something, people might afraid of the new environment and hence they lose taking big risks, but results are happy for only those who gets this done thought risk taking.

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davinchi
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August 04, 2018, 09:42:00 AM
 #410

I think that bitcoin makes richer savvy people who are not afraid to take risks and catch the moment.
Well man I believe you’re correct, anyone who is dumb wouldn’t achieve anything in this, it’s only those that are hardworking and smart that will invest and use it the right way and also earn bigger profit. Those who are not smart, all they do is make mistake, and once they lose money they start looking for who to blame and say this is a fraud, quite funny.

You already know there are risks in this kind of job, so if you are investing and don’t want to lose all your money, then you better cut your loss as early as possible.

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August 04, 2018, 09:51:35 AM
 #411

I think BTC is redistributing wealth. Those who invest in bitcoin will become richer, some will become bankrupt. I just hope those who are investing in cryptos, they should learn very well. Do not take all the property to trade. Unforeseeable risks.
isaac_clarke22
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August 04, 2018, 09:56:33 AM
 #412

Bitcoin is not only for the wealthy. The poor can make bitcoin without a dime as long as he or she has the devices and internet around.with the bounty campaign one will make what is good enough to make one wealthy,if the poor is wise.bitcoin is actually a golden opportunity to distribute wealth if one can catch it.

How about those poor people that doesn't have any knowledge even to the most simplest idea of technology? Those people who had lived in rural areas? I don't even think that they knew how does internet work or they might only know it allows them to access in certain things, but the technological literacy isn't at that point.

I don't think that Bitcoin fully redistributes wealth. There are certain people who can invest in it or there are hierarchy of people who has the access to do some stuffs inside it. Transactions? Investments? Common people must've known investment in stock market yet.

bitcoinrays
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August 04, 2018, 10:47:48 AM
 #413

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

The problem is that it was mostly the rich who had the guts when Bitcoin was first introduced. There were a lot of ordinary folks of course who believed in Bitcoin when it was still very young. They are already millionaires today. But still I believe that the majority of early adopters were the rich and the advanced in terms of technology and the latest innovation. The poor are always trailing at the back when it comes to the newest developments of the world. Bitcoin offers no such thing as wealth re-distribution.
I think Bitcoin is not a toll to exercise the concept of redistribution of wealth. It is the government which is responsible for it and they collect taxes to do so. Now some countries like Norway have been doing great things with the tax money. Others like Kenya or Nigeria are lagging behind. Bitcoin gives you if you invest in it. And it can make anyone rich provided one goes wise in the crypto market. Also providing the employment opportunities is another benefit is has been known for.

NeoMyHero
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August 06, 2018, 10:31:42 AM
 #414

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.

Yes. Can bitcoin help rich people make more money. There are also many other ordinary people who are rich by investing and keeping bitcoin. Bitcoin is great as it offers greater opportunity and value for the people. Anyone want to make a profit thanks to the bitcoin investment, and accept a bit of risk.
I think that it has already provided so many opportunities to poor people to become rich, and I think there are a lot of such stories where poor people have become millionaire from bitcoin investment. I think still it is providing opportunities to poor people to invest some money in bitcoin and make to doubt or even triple in next few months.
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August 09, 2018, 07:25:15 AM
 #415

Well I think that bitcoin redistributes wealth because just like me,I am not wealthy but because of bitcoin I can be able to support my daily needs and have enough money for my future.I am so thankful that bitcoin came into my life because it really helps me financially.
    To some extent it is right that poor people can also make money from cryptocurrency. It means that it is not only for rich people. Everyone can invest in it and can earn profits. By this way an average or poor person will also become rich. Bitcoin provides this opportunity to everyone and that’s the reason that you can say that bitcoin redistribute money.

I think that there is nothing about distribution of wealth because poor people cannot buy bitcoin because of the high price. You can say that Altcoin can play a vital role in distribution of wealth among the people. Everyone can make money from crypto investment, but bitcoin is not for poor people. Only rich people can buy and trade in bitcoin.

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August 09, 2018, 09:12:29 AM
 #416

The major reason bitcoin was invented was for this purpose but you can't force the poor masses to accept Bitcoin and key into this ocean of wealth. So the rich still get richer because they are the one that always easily grab opportunity.

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August 09, 2018, 09:37:54 AM
 #417

People should never have the idea to become rich overnight by investing in bitcoin, one of the reason for creating bitcoin was to allow people to send money to each other at an affordable rates without paying a hefty bank transfer fees to the traditional banks, so I believe bitcoin actually redistributes wealth as it allows citizens of every country around the world to save more money while sending money to each other.

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August 09, 2018, 09:44:02 AM
 #418

Well you won't get any bitcoin unless you do something or invest. Bitcoin is not free unless you do something. It will make the wealthy richer if they really know how to invest in crypto world but bitcoin makes the common become the richer in a blue moon if they hit the jackpot in the crypto world and i think bitcoin just circulates to everyone but it will still depend on what you are doing with bitcoins.

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August 09, 2018, 04:00:26 PM
 #419

You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.
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August 10, 2018, 10:44:28 AM
 #420

Just that... do you think there is any re-distribution effect at all due to bitcoin?
Yes I believe there is, but when there are rich people losing, there are also poor people losing. This is a game of luck and it is not meant to favor only a particular group of persons, either they are poor or rich… it can favor anyone at all. All it takes is just to work hard, although the rich ones seems to be controlling everything because they are rich and mainly it ends up in favor of them.

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