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

[PatronRH]

Neither this nor that. Bitcoin makes anyone who investes in it and who is smart enough to know how and when to
invest wealthy. So it maybe redistributes wealth but also people who have more money will simply make more money.

[Hell-raiser]

I do not think there is a solid answer here.
This question demands the worst answer - "Depends"

It really depends how you are  looking at the situation.

Making the wealthy richer This is true at two levels.
 - People who can afford to build huge machines to mine coins, will be rewarded with more coins.
 - People who can afford to buy more, get more rewards (if the price goes up). This is true for investments in general.

I'd like to add that the wealthy can withstand lower/stronger price crashes. In fact, they can completely discard these crashes as non-events since their total wealth doesn't depend so much on their investments in Bitcoin and other cryptocurrencies. As a matter of fact, they have a multitude of other investments like bonds, stocks, precious metals, real estate, etc. On the flip side, the poor or less wealthy ones are more prone to panic sells and closing their positions at price dips because their lives and well-being basically depend on their crypto investments.

[Indai24]

I do not think there is a solid answer here.
This question demands the worst answer - "Depends"

It really depends how you are  looking at the situation.

Making the wealthy richer This is true at two levels.
 - People who can afford to build huge machines to mine coins, will be rewarded with more coins.
 - People who can afford to buy more, get more rewards (if the price goes up). This is true for investments in general.

I'd like to add that the wealthy can withstand lower/stronger price crashes. In fact, they can completely discard these crashes as non-events since their total wealth doesn't depend so much on their investments in Bitcoin and other cryptocurrencies. As a matter of fact, they have a multitude of other investments like bonds, stocks, precious metals, real estate, etc. On the flip side, the poor or less wealthy ones are more prone to panic sells and closing their positions at price dips because their lives and well-being basically depend on their crypto investments.

You definitely have a point those wealthy people had more chances to buy more stocks and invest more and have bigger returns unlike to those people who have less they're the one's prone for panic selling, but sometimes situitions matters most and it depends on the status of their crypto investment.

[Redrose]

There is no reason that it would redistribute wealth, really. Even if price increases, it increases the same for everyone, so it changes nothing. Rich people may however be more prone to invest, but I am not sure rich kids are really more in the game than College professors.

[JesusCryptos]

Nor Bitcoin redistributes wealth, neither Bitcoin makes the wealthy richer. Bitcoin is not a subject, it is an object, it does no actions. Speculations make the wealthy richer and the ecosystem of Bitcoin allows new people to become wealthy, so a bit of wealth gets actually redistributed.

[cryptotenoy]

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

For me it redistributes to the one that has knowledge on how to use and earn bitcoin.The wealthy will become more wealthy if a person knows about cryptocurrency while those who have less wealth can be richer when they adopt bitcoin in their lives.There were testimonies in this forum that at a young age they were already a millionaire and bitcoin was the reason behind that wealth.

[Gaff]

 Well the bitcoin is for all of us who really believe and trust on it that is why I believe that bitcoin is not only for the wealthy person to become more wealthy because we can really gain a huge amount of profit on bitcoin if we work on it seriously I believe that bitcoin is pair and we can really experience gaining on it that is why I believe that bitcoin is really helpful not only on one person but also for all of us who really believe on it.

[LynielZbl]

It really depends upon the mindset of a person. If you have some efforts and guts to take the risk, then you can gain more profits especially when the value gets higher and higher. But if you were lazy and no effort to do that then you can't achieve whatever your goals and unfortunately, you will miss the big opportunity to achieve the success.  In fact, that is the common needs on how to become wealthy on this crypto world even if you were not graduated on a higher education as long as you have the knowledge and the strategy on how to achieve success in this kind of an investment. Thats the most important thing on how to ride the wave in the world of crypto. Like what others says learn to earn then soon you will be rich and many people now, has already achieve that.

[SmellsCinnamon]

I think both. Rich people uses their money to invest in bitcoin and other cryptocurrencies to become wealthier. That is why they make business in the crypto world and giving opportunities to the others by making bounty campaigns, airdrops and such. Rich people make business and distributes their wealth at the same time by receiving a service in return.

[Tapyaks72]

Well the bitcoin is for all of us who really believe and trust on it that is why I believe that bitcoin is not only for the wealthy person to become more wealthy because we can really gain a huge amount of profit on bitcoin if we work on it seriously I believe that bitcoin is pair and we can really experience gaining on it that is why I believe that bitcoin is really helpful not only on one person but also for all of us who really believe on it.

Well the bitcoin is for all of us who really believe and trust on it that is why I believe that bitcoin is not only for the wealthy person to become more wealthy because we can really gain a huge amount of profit on bitcoin if we work on it seriously I believe that bitcoin is pair and we can really experience gaining on it that is why I believe that bitcoin is really helpful not only on one person but also for all of us who really believe on it.

Well the bitcoin is for all of us who really believe and trust on it that is why I believe that bitcoin is not only for the wealthy person to become more wealthy because we can really gain a huge amount of profit on bitcoin if we work on it seriously I believe that bitcoin is pair and we can really experience gaining on it that is why I believe that bitcoin is really helpful not only on one person but also for all of us who really believe on it.

Well the bitcoin is for all of us who really believe and trust on it that is why I believe that bitcoin is not only for the wealthy person to become more wealthy because we can really gain a huge amount of profit on bitcoin if we work on it seriously I believe that bitcoin is pair and we can really experience gaining on it that is why I believe that bitcoin is really helpful not only on one person but also for all of us who really believe on it.

Well the bitcoin is for all of us who really believe and trust on it that is why I believe that bitcoin is not only for the wealthy person to become more wealthy because we can really gain a huge amount of profit on bitcoin if we work on it seriously I believe that bitcoin is pair and we can really experience gaining on it that is why I believe that bitcoin is really helpful not only on one person but also for all of us who really believe on it.

Yeah you are right mate all wealth of this world is need to be worked with because to acquire it is not a blink of an eye .but the difficult things only few are given an opportunities to work or given an access to the right tract to becoming finacially independent because only few know how to do it .we thank to Blockchain technology for giving opportunities’ to any one to participate and somehow earn a fortune  Bitcoin is the way I think that any one had an equal opportunities .

[barontamago]

Well we can say that its like hitting 2 birds with one stone. bitcoin helps the both help the people get money even the rich and also the jobless people. they have benefits on their own. and actually the most important this is not to make wealth the bitcoin itself giving us less hassle on how they use on how we buy other things in online while resting and paying bills and others things that give us more time to spend to other things.

[frowsiter]

One thing to note is that it was designed to do neither. Some people may think that Bitcoin is anti-establishment and was made so that people from the lower classes can level with people from the upper classes, and it's simply not as grand as that. It's a trustless currency, and rich people can just as easily enter the market as poor people.

That being said, I would say there's no wealth being redistributed in the strictest sense of the term, in that you're not really taking money away from the rich to give to the lower classes. Bitcoin made some poor people wealthy, it made some rich people wealthier, and that's it.

The clear idea behind this one is “the one who got money, can put more money and can earn back more money”. So yeah that’s what happening and I’m pretty sure the wealthier people are getting more wealth redistribution into their own community as compared to the poorer one. The poor people don’t need have that much power to enter into bitcoin market and they can’t push it hard

[BountyX]

Both the effects are in play. BTC whales get richer and a lot of people which had no money could now improve their economic situation thank to BTC.

[Ranly123]

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.

Absolutely correct. Redistribution of wealth is only for those ponzi schemes and bitcoin is not one of that. People with interest in technology has the highest percentage to earn bitcoin because they totally understand what is happening beyond the actual life and that is in the digital world.

[Umar001]

Bitcoin can not elther redistrutes wealth or make wealthy richer, but  make the one who can take risk to invest on bitcoin richer,if you know when to invest on bitcoin and when to sell off your bitcoin, to make high return of investment.  

[Wenmanong]

I think bitcoin redistribute  wealth because we are earning a lot  of money on it,  and also makes the wealthy richer because they have a lo of money to invest the more you invest the more in return.

[StarofBTC]

Both the effects are in play. BTC whales get richer and a lot of people which had no money could now improve their economic situation thank to BTC.

It’s kind of like having luck and not having luck. It favors both the poor guys and the rich guys, depending on when you invested. But the rich guys seems to be more lucky than the poor guys, cause they will have money to invest at any time and push the price up (if they invest something big) and by the time the poor gets money to invest, it will be late for them, unless they have gotten themselves prepared already. But it’s all about luck and doesn’t have to do with being rich and being poor. Bitcoin favors everyone.

[PatyZante]

The wealthy will always have the financial edge over those who don't, that goes without saying. However, I wouldn't say that BTC has the ability to get from these wealthy people then spreads the love to those who aren't that wealthy. What I think that's going on here is BTC actually gives those who want to earn more or extra the opportunity to do so. This most especially applies to those who has enough tech know-how and an internet connection. This works for them as well because they wouldn't need to invest that much. Some offer their services for signature campaigns or simple advertising and that won't cost them much except for time and effort. Will the wealthy be wealthier because of BTC, most likely since they would have the resources to invest. . .buy and sell. . .but that doesn't mean the rest of us will be left in the dust.

[wxa7115]

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

One thing that cryptocurrencies have done is give the average person a chance to get in on something at the beginning that has potential to make us wealthy. We don’t have to rely on stock brokers or Wall Street investments where they have the inside information that the average person doesn’t have. Cryptocurrencies gave us a head start over the banks this time.

This is one of the nice things about bitcoin, not only it has helped us to be our banks this has brought as a consequence that a number of investment opportunities be available to us and to no one else, it is very rare that you can buy an altcoin with fiat, in most exchanges you need to buy bitcoin or Ethereum first, so for the first time in a long time the small investor can compete on equal grounds against big players.

[BartS]

I do not think there is a solid answer here.
This question demands the worst answer - "Depends"

It really depends how you are  looking at the situation.

Making the wealthy richer This is true at two levels.
 - People who can afford to build huge machines to mine coins, will be rewarded with more coins.
 - People who can afford to buy more, get more rewards (if the price goes up). This is true for investments in general.

I'd like to add that the wealthy can withstand lower/stronger price crashes. In fact, they can completely discard these crashes as non-events since their total wealth doesn't depend so much on their investments in Bitcoin and other cryptocurrencies. As a matter of fact, they have a multitude of other investments like bonds, stocks, precious metals, real estate, etc. On the flip side, the poor or less wealthy ones are more prone to panic sells and closing their positions at price dips because their lives and well-being basically depend on their crypto investments.

Having more money gives you security but at the end money should not be the main factor that determines whether to keep invested in crypto, the main difference between the holders and those that panic sell is their knowledge about bitcoin and their future vision about what bitcoin will become, those that panic only wanted to make some money while those which hold for the long term not only want that, they see bitcoin as a technology which will change the world.