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

[RudeeTam]

I have to believe that it redistributes wealth since we are gaining income from this but I'm not sure if it's exactly from the wealthy to the lesser ones. It all depends on the strategy used by the individual so it's completely random.

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[Henry Sy]

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

This bitcoin is giving extraordinary chances to every one of the general population who needs to roll out improvements in their lives. On the off chance that you indicate much premium and exertion on bitcoin regardless of whether you have no money to contribute, at that point you will truly make enormous benefit along the path that you're trying to pursue.

[connexus]

There is no redistribution happening in bitcoin. It depends on how you play the crypto currency market the wiser you are the more you get richer. That is proper management.

[jaysabi]

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

Bitcoin specifically, and crytpo generally, doesn't do anything magical in regards to redistribution. Even if the whole world was denominated in Bitcoin, it wouldn't mean anything for redistribution. Redistribution takes active effort, and Bitcoin doesn't actively do anything on it's own. Asking if Bitcoin has a redistribution effect is the same as asking if the USD has a redistribution effect. The answer is no, because both are representations of wealth and don't address wealth inequality or wealth distribution. I don't know where the notion of Bitcoin having anything to do with wealth equality even came from, but many people seem to have this notion that it's a magic bullet that will solve all the world's economic problems, and that notion is silly and has no basis in fact.

The great advantage of bitcoin is that it does not steal from you using the inflation tax, the wealthy can invest in all kind of assets and they have a very small amount of cash available if you compare it to the size of their assets which means they are not that affected by inflation since their assets go up with the inflation but for the rest of the people that cannot do that and keep most of their savings in fiat they lose a lot of money every year, making the rich even richer.

This is far outweighed - FAR OUTWEIGHED - by the volatility of holding Bitcoin. Since December, the dollar might have depreciated by perhaps half a percent, or one percent. Bitcoin has lost 60% of it's value since December, and routinely loses five or ten percent in a single day. The dollar has never experienced this kind of loss in such a short time span. Investing in Bitcoin to avoid inflation is about the dumbest thing you can do with your money, other than investing in an advertised ponzi scheme.

[LeavingEden]

I think it depends on the people who knows it already if they helping other people by sharing and introducing the bitcoin. So its both for me. Because its free for all. Wether you're rich or poor. It makes the wealthy become richer and it also help the poor to become wealthy so, both for me. It redistributes the wealth and also makes the wealthy become richer.

[qiwoman2]

Now the rich are leveraging their wealth into Bitcoin and it is the Whales that are manipulating and moving the markets, so yes, the clever traders and whales are making most of the money. Many of us little people got ousted and lost a lot of our gains during this bear run, us retail investors have been done in 2018. What gains many of us made in 2017 have been wiped out this year, so I could say the rich are getting richer, but some new kids on the block and clever traders have also become rich overnight almost. The tide is turning and the mega Rich are becoming the wealthier ones in Crypto now. Still, there is room for a few of us poorer people to win if we hold long-term some good picks.

[isidrorex]

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

Any investment can really distribute wealth between investors but in Cryptocurrency, it depends on how much investment we put in and it really depends on how we manage our investments that really affects the success of it. And I believe that wealthy people who invested in Bitcoin has an edge compared to those who invested not just much so I conclude there are many factors to consider in order to say whether how Bitcoin re-distributes wealth.

[Crystal24]

Its a two-way thing.
It redistribute wealth and also makes the richer richer.
The rich are getting richer because they have plenty capital at their disposal.

[Rj Manik]

By implication I believe that is what is continuous right now yes. The assets themselves won't originate from the rich since they will probably thrive from cryptos yet I think the individuals who take the time and push to take in the business remain to profit a ton. Straightforwardly, notwithstanding, the assets are originating from some place and keeping in mind that it might make many individuals somewhat less fortunate I figure the quantity of individuals that pick up from this industry will be beneficial and I think it gives a net constructive outcome to the world.

[nidacoinlove]

There is no redistribution happening in bitcoin. It depends on how you play the crypto currency market the wiser you are the more you get richer. That is proper management.

Well if we are talking specifically about Bitcoin then it is sure that right now the redistribution cycle is quite slow. In fact the current situation seems like Bitcoin control is in few hands usually known as whales of the market, who manipulate the price according to their wish and will. These whales are a big challenge for the small investors who are eating them like small fishes.

[krishnaverma]

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

The early adopters made good money with their investment. I think it is not about the money you make with crypto but what you do with that money. For instance, I was seeing the story of a college dropout who invested the money given by her grandmother in early years. He is not a millionaire and has started an online company with that profit. Now there will be people employed in his company, other business getting benefited by his company.

[Naughty Princess]

I have to believe that it redistributes wealth since we are gaining income from this but I'm not sure if it's exactly from the wealthy to the lesser ones. It all depends on the strategy used by the individual so it's completely random.

When a person used a wise strategy, bitcoin can distribute wealth and even the poor can get that wealth on their side and the rich become richer. It is depend how you handle your earnings to make it grows. There is no possible things going to happen when we work thoroughly for it to achieve our goals in life. Success can help us to gain wealth, and it depend to us what we are going to do to make it stable.

[Chrystora123]

many ways to gain wealth and one of them is through Bitcoin, but make no mistake, not everyone can gain wealth from Bitcoin, only those who have the ability, hard work and luck that can gain wealth from Bitcoin...

[Altf4]

I think bitcoin redistribute wealth , it is also the way that bigger investment could benefits more, because if you invest a smaller amount in bitcoin then normally you will earn less gain or smaller profits ,while when you invest in greater amount you could also gain larger profits comparedcto smaller amounts, so bitcoin benefits depends upon your ranks and the amount you have invested.

[Luana Trade]

I KNOW THAT SOME EFFECT IS HAPPENING BECAUSE WHO TAKEN THE OPPORTUNITY TO BUY FOR LESS THAN 10 DOLLARS YES NOW WHO WAS RICH IN 2011 AND 2012 AND BELIEVED IN THE TECHNOLOGY IF HE DID WELL BECAUSE THEY WERE RICH I THINK THAT THE PROMISER OF THAT REDISTRIBUTION OF INCOME YES IF GAVE BY COUNTRY OF BITCOIN BUT ALSO WE CAN NOT LEAVE TO REMEMBER OF THE ETHEREUM LITECOIN AMONG OTHERS WHO WILL CONTRIBUTE TO THIS REDISTRIBUTION

[Gdra467]

Bitcoin distribute wealth as much as you have invested in it. If we are all given the same amount of BTC people may be good at investing their BTC better than others. BTC is to ensure transparency,security and speed in transactions. Wealth redistribution depend on individuals.

[cryptocurrencyguru]

Bitcoin will definitely make life much easier in terms of money earning for new individuals 

[retprogramisto]

Bitcoin helps anyone to earn money online by selling products or services. You dont need money to invest in bitcoin, if you can earn it. You can self-learn programming, graphics, copywriting, etc. for free online, or sell products to a global market, and start to earn bitcoin online to finance living costs. All you need is an internet connection, and you can use bitcoin without limits. There are no restrictions like with Paypal or bank accounts, and as long as you protect your private keys, your money remains yours. It cant be seized or hacked.

Bitcoin offers a real opportunity for people anywhere in the world to make their own wealth and become self-made with only an internet connection. The public source nature of cryptos allow people to learn blockchain programming, make their own coins, and develop new technologies. ICOs allow anyone with a business idea to try it out and create useful services globally. What used to require connections or wealth, now only requires an internet browser and the desire to learn.

[entrepmind23]

I think so there is no any such objective of Bitcoin. Bitcoin was launched as a digital currency to revolutionize worldwide payment system. As the most it can also be used for managing your finances or long term investment purpose. Now, I have seen some poor people also becoming rich with Bitcoin and some rich people becoming richer with it. So anybody can invest in it, there is no perfect statement we can give about it.

It gives an opportunity to those people who have no capital to take a shot in investing in bitcoin and other cryptocurrencies. It may not redistribute the wealth but somehow it can augment the lives of the people who are risking it so that they can have their hopes and dreams be achieved by investing in cryptocurrencies. Unlike in fiat wherein you need a larger capital most often to have larger profit, there is a possibility on cryptocurrencies to have larger profits still even though you have smaller capital.

[kukurikapu]

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

For me, it does help everyone. It gives equal opportunity to everyones to have a better life. So it does not matter to me who gets richer as long as he does not do anything illegal.