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

[1Referee]

Wealth distribution will never be fair. People with an average income, and even those who live below the minimum standard, will always end up selling their coins, and buy them back at higher rates. It all comes down to their financial position. Bitcoin won't stand still to wait for people to buy back their coins at the same levels, the past has been the perfect example of that. In other words, the price will only increase further. The aforementioned category of people will always face situations in life where they have to cash out their coins to fill up the financial gap in their personal life. People with enough money already on the bank don't have these problems, and thus have enough time and patience to keep holding everything for long periods of time. When we're like ten years away from now, there will be a supreme elite in terms of Bitcoin holders. I wouldn't be surprised if we come close to current fiat wealth distrubution in terms of percentages.

[1715090095]

1715090095

[sofi@]

I think earning bitcoin is the most fair among all other investment because everyone has equal opportunity of earning it does not require only those who are rich already to make investment because even in a small amoubt a person can start investing and earn from it so I think bitcoi n redistributes wealth properly and fairly

[Mind Control]

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

How can Bitcoin redistribute wealth when Bitcoin is not backed by gold, currency or anything? Bitcoin is just like fiat, it has a value because the community believes it has a value. The community drives Bitcoin's value so there is no wealth that is redistributed at all.

Bitcoin does make wealthy people wealthier. Since the price of Bitcoin is so high, only rich people can easily invest to Bitcoin. Thus making then even richer.

[Firefox07]

I think bitcoin is making the poor rich. And the rich became richer. Just like here in our place many of us are poor but because of bitcoin. We are able to improve are way of living. From bad to good.

[trecore4]

I think so that possible that it is just making the rich people more wealthier because they are able to invest into bitcoin even when the bitcoin rates skyrocketing. I mean even though bitcoin has reached to all new heights it is not much for the wealthy people as they can invest more than that into it. I think this market is redistributed into them only because they hold the most of the market into their own pockets and how we can expect the money to drive equally into rest of the community. There is really ambiguous situation on this question which I don’t think can be resolved as we don’t know who holds how much and up to what extend. But surely richer are getting benefited from it a lot. 

[last7minutes]

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

I think that bitcoin was created in order to redistribute wealth among all people, but in fact the rich began to get even richer, and the poor do not have the opportunity to invest in the crypto currency.

[Vishnu.Reang]

Of course not!! Just like the early 50s and 60s, it creates a set of new wealthy people. This happened with the dotcom bubble where a new set of wealthy billionaires were created and eventually just like any other wealth generating system, it will be confined to a small set of people who will own 90% of the world's wealth. The world in general would always remain the same and would run the same way as it runs now!!! It is only a dream to not accept the reality of a flawed world.

[kkukkugaga]

I think both. But it depends on the person holding it. Btc is just a coin, it cannot manage itself, thus only a person possessing it can. The redistribution of wealth really happens to all of its users and at the same time those users who redistributes or has part in the redistribution can also make their wealth richer.

[haroldtee]

I think earning bitcoin is the most fair among all other investment because everyone has equal opportunity of earning it does not require only those who are rich already to make investment because even in a small amoubt a person can start investing and earn from it so I think bitcoi n redistributes wealth properly and fairly

Hmm... Even though everyone have an equal chance of earning or probably buying some, the truth is that only the early adopters who were able to buy something good, no matter how little, will end up still being able to get the best from it, while the rich ones even get more. The wealthy ones who were even early adopters, will always have more chance of even doing better in the long run. Imagine someone who believed in bitcoin and was rich, who was then able to invest as small as $5000 in 2009/2010, knowing it is something he can easily risk or even give out on a normal day. The rich have more chance of even getting richer while redistribution of wealth will just be in small proportion.

[pawanjain]

Bitcoin is not making the wealthy richer, it is making the wiser ones wealthy since the most talented people in the crypto community are driving the market trends. For example people like Roger Ver, Jamie Dimon, Goldman Sachs are manipulating the market through their influence and making more money out of it. The new comers and the non-talented people are the ones who are losing their money in these cases. People losing money in pump and dumps are clear cases as they become the bag holders. So the people who are wise enough are making money from the non-wiser ones.

[chrmn27]

It redistributes wealth. I know some who are onto bitcoin. They are just earning what is enough but when they started doing bitcoin, they also began earning extra money which they saved. It gives chance to others to earn extra income and be wealthier than they thought they could be.

[yndye]

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

No, there isn't because there are still whales in the crypto world that somehow controls the price of the coins since they can pump or dump the coin anytime for their own benefit. However, it has given a chance those people who are willing to learn something new so that they can earn from it. Mostly, the young ones who understand the technology would have an edge over the people who do not want to learn it. It has help a lot of people financially because there is so many opportunities in cryptoworld.

[moneyangel]

Yeah it may safe to say that some poor has become rich and the elite millionaires are now billionaires.

[Procopiogamscrypto]

yes i agree, it redistributing wealth to the poor and multiplied of the rich people, because poor people who has least fortunate in wealthy living can gain or acquire more money if they get involve in bitcoin industry,on the othr hand,rich people with their resources[such as capital and business machinery] had a great oppurtunity to earn more profit through investing and makes them wealthy richer

[ice18]

Bitcoin is not created to redistribute wealth its objective is to use as digital currency to enable instant payments and to make it decentralized transactions how can we say bitcoin redistributes wealth if only few got many of this and majority has small holdings, with the current value of bitcoin it just makes a holder of many coins richer than other. 

[Nahl]

bitcoin not distributes for rich people and even poor people still can buy bitcoin so bitcoin was created for every people in the world and there is no unfair redistributes about that but the difference is poor people only can buy small amount of bitcoin but if we do that consistently eventually poor people will have pretty much amount of bitcoin and indeed it may took more time to do so

[BrewMaster]

as far as price and the profit of investing in bitcoin goes, what OP is asking is like asking whether Microsoft, Apple, and lots of other companies with stocks that went to the moon distributed wealth!

obviously some people make a good amount of money because they were wise enough to see that potential that regular people fail to see in things. and also they took a very huge risk when they became early adopters and this risk is something that people usually forget when they talk about this group.
if anything bitcoin is wealth and some used it to have a bigger share of this wealth than others.

[Siopao]

Anyone can be involved with bitcoin - rich or poor, young or old, professional or not. Bitcoin is for everyone as long as you are computer literate. So we can't say that it redistribute wealth or makea rich even richer because it doesn't have target market. I think we can safely say that bitcoin gives equal opportunity to anyone regardless of life status and we can improve our current financual standing thru it.

[paparexon0414]

Same. People who are rich can buy as much bitcoin as they want (if they are into it) and sell it bigger, they will become richer. But on the otherhand, to common people seeking some opportunity, bitcoin becomes our hope to atleast earn, maybe not become very rich but step to a other zone.

[darkywis]

Well they are just getting wealthier but I believe that the middle class and the lower class has the opportunity gain profit here.