Until people learn how to buy bitcoin, many middle or lower class Americans will assume that it is "too expensive" so, in America, no. It is, however, true that for rural parts of many third world countries it may eventually enable the small scale entrepreneur, especially if we make a deliberate effort to foster it as micro-loans, etc.
That's some really fun things you say here.
So, let me clear things for you.
Middle class and lower class Americans, which earn between 35-75 $ a year and afford a house, a car and a trip aboard are calling
BTC two expensive while at the same time, in the rural part of a 3rd world country (lets say Philippine) , people that are making below 2000$ a year and spend more than half of it on basic food are going to "invest".
Yeah, probably you're right, forget about the opposite, white has just turned blue with red stripes.
At the initial stage of any currency redistributes wealth.
No, it is not.
Do you have examples for at least one that did this?
Basically redistribution of wealth doesn't depend on any currency, in fact it depends on the form of the economic system. Bitcoin no doubt is a new financial system and currency but still it is a part of the capitalist economic system. It is not the currency to be blamed but the flaws are in the system, like everyone knows that in capitalism the rich becomes richer and the poor becomes poorer. Bitcoin being a new technological invention brought up some early adopters to the rich society, but it is now itself caged by the rich to make them richer. This will go on until any new and better economic system is introduced to the world.
All new technology is available first to the rich.
And this is almost an universal law.Because only the rich can afford it.
And back in 2010, the poor in poor countries had no internet access, so no access to bitcoin.
As for capitalism, you can always choose, this flawed system like the US , or the socialism of Venezuela.
Your option?
