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

[Pantoflascrypt017]

it depends it could have been at some point but now with the new attention that has been drawn towards it there are of course people with  a lot of money who buy in and have a bigger control over the market. However since it is nothing like traditional stocks or invetsments i think that the people that have come from that game will not make anywhere near as much money as they would normally, i guess in summary it has gone someway to redistributing wealth but some of that has inevitably been lost since the early days.

[hah]

The wealthy is wealthy for a reason, they run businesses or do something that allows them to gain money from someone else.

Bitcoin can distribute wealth but if the person in question can only consume and not provide then eventually the wealthy will earn those bitcoins and get richer.

Plus nothing is stopping a wealthy person from buying bitcoin straight out before the normies buy it.

[nikjain422]

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

I don't think Bitcoin makes wealthy people more richer,it is just people who have more money and can invest more and definitely they will get more return but that doesn't mean it doesn't give any opportunity to small investor.Bitcoin has something for everyone and that's the USP of bitcoin.Trading is any thing not just bitcoin is a skill and that can make many poor-rich and rich-poor.

[poor-yorik]

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

There can be some redistribution effect of Bitcoin but it should be really minuscule. A certain number of people have become rich thanks to Bitcoin, but it is more like redistribution of wealth between the moneybags themselves. They are the ones who can buy bitcoins in big amounts and sell them later booking hefty profits.

[zhekinsp]

Bitcoin has the ability to make the people richer who can invest on bitcoins,but the bitcoin price is too expensive for the normal working people so they can invest on bitcoins but not in a big scale so it maybe help to increase the income but not totally helps to distrubutes the wealth around people.In my thought bitcoin makes the rich people more wealthier.
But the normal people who can invest on bitcoins regulary with his savings amount then it make them richer in future but they need to hold their coins in longer term.

[Ararbermas]

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

yes cause it depends on the mindset of person, cause if you have some effots then you can gain more profits and if you are lazy then you can't achieve your goals and for sure you will miss the big opportunity.  Indeed that is the common how to become wealthy on this crypto world even you are not a degree holder the most important you have knowledge and strategy how to ride the wave. Like what others says learn to earn then soon you will be rich.  

[biskitop]

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

yes cause it depends on the mindset of person, cause if you have some effots then you can gain more profits and if you are lazy then you can't achieve your goals and for sure you will miss the big opportunity.  Indeed that is the common how to become wealthy on this crypto world even you are not a degree holder the most important you have knowledge and strategy how to ride the wave. Like what others says learn to earn then soon you will be rich.  

I agree with your opinion, general knowledge is not enough  to make people to be rich. genius, smart, diligent, and smart set up strategies and opportunities are key to becoming rich. Like his case with this crypto world. You have a lot of capital, not guarantee can be rich if we do not know the state of the market in the crypto world. On the contrary, even if the capital is small, but we already know about the crypto world market and we know what to do, we can also get rich.

[iolite]

 

[stompix]

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.

The poor don't have a dime to invest in BTC.
So they will just remain poor.
It's obvious.

but the bitcoin price is too expensive for the normal working people so they can invest on bitcoins but not in a big scale

If you invest 100$ or 1000$ does it matter what the price of bitcoin is?
You buy 0.2 or you buy 0.5, if the bitcoin price double you double your money, no matter what the initial price was.

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

Really?
How about you come with some examples, of poor people investing in Bitcoin.
Let's take for example Somalia.
How in the name of god could they "invest" in BTC when they need to work for two months just to pay a tx ?

[aznboy84]

The wealthy people are always going to be wealthy if they know how to manage their money. If they invest a lot, they will become more wealthy. But if the poor does not even know what to do, they are going to be two times more poor, lol.

[Aamir1]

Bitcoin doesn't redistribute wealth. It is just an asset like others, and accessible to those who already have something. We can say that people can earn Bitcoin by working for it, but if that is the case, they can earn any currency by working for it, but the ones having nothing except poverty can never access something like Bitcoin. Bitcoin is a sort of currency, and you can only have a currency if you are eligible for it, but it is not given to you for no reason.

[satamusic]

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

just a wee bit, but it does evens the playing field

[micashane]

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

From your word re-distribution, I don't think if this is really like re-distribute wealth or money in the rich people to become richer. All I know is, bitcoin is giving us an earning that we deserve to get. Hard work, and on how you handle it. Bitcoin is not distributing wealth to people but giving us what we deserve in working in bitcoins like or example is in this forum, in trading sites, investing sites and many more.

[mrbnson]

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

From your word re-distribution, I don't think if this is really like re-distribute wealth or money in the rich people to become richer. All I know is, bitcoin is giving us an earning that we deserve to get. Hard work, and on how you handle it. Bitcoin is not distributing wealth to people but giving us what we deserve in working in bitcoins like or example is in this forum, in trading sites, investing sites and many more.

Those same opportunities are also afforded to the rich and that's why it doesn't necessarily redistribute wealth, that would imply taking from the rich and giving to the poor which is not true, it is more of a case of giving to all those who are willing to put in the time and effort.

[ohlawdy]

I don't think so , ofcourse some people got rich of bitcoin who where poor before.
But right now people with bitcoin are getting more wealthy while new people don't have that opportunity.
For example it is so easy to invest a couple of btc in an ico or a coin you like when you have a lot of btc , so i think the situation with wealth is now how it has always been.

[Fatunad]

Like any other currency, bitcoin is not redistributing wealth to the common mass. However it has given an immense opportunity to the educated and tech-savy mass. People who are good with computers can still earn bitcoins or other currencies by providing various service to the crypto community. But that doesn't necessarily mean fair distribution is happening. Only people with a certain set of qualities are eligible to earn it. So it is giving that particular set of people a chance to live a decent life but not to all levels of society.

Just like fiat money, fair distribution seems really be very an impossible thing .Even on bitcoin world sad to know the fact that fair distribution isnt still possible since those who do have capabilities do always have the edge among others or on average joe's which means there would be still accumulation on how many coins we would able to store up either by pure investing or on accumulating by doing task.

[whyrqa]

I don't think so , ofcourse some people got rich of bitcoin who where poor before.
But right now people with bitcoin are getting more wealthy while new people don't have that opportunity.
For example it is so easy to invest a couple of btc in an ico or a coin you like when you have a lot of btc , so i think the situation with wealth is now how it has always been.

The fact is that here even to think anything, with wealth as the poor began to earn, possessing the old earn even more. The frames have shifted.

[callmetonny]

Doesnt redsitribute wealth, but open windows for people to make some money, anyways whales will always be whales whether they are buying BTC or gold or oil and will hold the vast majority of the market share

[el kaka22]

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.

People usually try something new to earn money. Bitcoins help the wealthier become more richer and also it helps the poor to come up with some good opportunities. Bitcoins are much profitable to use. The one who can afford to invest in bitcoins gets more richer and the one with no investment ends up by earning bitcoins by himself. Bitcoins redistribute the wealth according to the hard work the individual does and also the needy and mighty people's with good knowledge earn a good profit in bitcoins.

[cr_liev]

I think there is some redistribution of wealth in the world. For example many my friends who had only money for food and rent payments now can start dreaming about travels and more. But still there are many people who lose their chance to earn extra money. That is why I can make a conclusion that rich will be richer 100%, middle class will be richer in approximatly 50%, and poor class will be richer in like 15% (because it's their mindset).