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Author Topic: Do you think bitcoin redistributes wealth or just makes the wealthy richer?  (Read 1608 times)
Pan Troglodytes
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August 10, 2018, 11:05:50 AM
 #421

You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.
Yes but who does all that mining, investing, trading and gambling? Maybe with the exception for the last activity, it is largely done by the wealthy of this world. Which proves the OP point, the resistribution will be very minor.

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August 11, 2018, 05:53:44 AM
 #422

Bitcoin is not only for the wealthy. The poor can make bitcoin without a dime as long as he or she has the devices and internet around.with the bounty campaign one will make what is good enough to make one wealthy,if the poor is wise.bitcoin is actually a golden opportunity to distribute wealth if one can catch it.

No poor people are getting rich off bitcoin, and bitcoin doesn't redistribute wealth. "Redistribute" by the very nature of the word means wealth is taken from people who have it and given it to people who don't. Bitcoin doesn't do this. Wealth redistribution also is not a passive happening, you can't just expect a set of non-interventionist circumstances to redistribute wealth. Redistribution requires an active, intentional act and this usually comes from the government through taxation and welfare programs. As for poor people, they're not getting rich off bitcoin, and on the off chance a very few of them do, it's not because the wealth was redistributed to them, it's because they owned an asset that became more valuable; essentially new wealth was created (and artificially if you ask me).


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August 28, 2018, 07:55:29 PM
 #423

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

Of course, I believe that bitcoin's contribution to a fairer distribution of wealth becomes clear when we learn about the large number of new rich people that have emerged thanks to the opportunities to generate large incomes that the volatility of bitcoin has generated. For my part, I can give testimony of the great poverty in which I lived most of my life, and that thanks to bitcoin has been left far behind to give rise to a financially consolidated life.

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August 28, 2018, 08:55:02 PM
 #424

You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.
Yes but who does all that mining, investing, trading and gambling? Maybe with the exception for the last activity, it is largely done by the wealthy of this world. Which proves the OP point, the resistribution will be very minor.

Crypto assets can run in two directions that you believe because they can run actively or passively, if we are active in short-term transactions, then wealth is the main goal, the opposite thing also happens for welfare where bitcoin always experiences a huge price increase and still in the path of initial fluctuations that will continue to develop.
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August 28, 2018, 09:43:56 PM
 #425

For me bitcoin is a Helping everyone it is just depend on you on how you manage your money and your hardwork

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August 28, 2018, 09:52:06 PM
 #426

   I think it depends on a person on how they use bitcoin and how much they invest on it.  Wherever bitcoin comes from the only thing i know that everyone who believes and invest will earn profit through this bitcoin not only the rich but also poor people that has enough knowledge on how to use and invest it.
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August 28, 2018, 10:24:50 PM
 #427

For me bitcoin is a Helping everyone it is just depend on you on how you manage your money and your hardwork
I think like you. It's for everyone who knows it and uses it. The point here is that it's only for anyone who understands it. Know when the good time, then it will be very rich...

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August 29, 2018, 12:09:25 AM
 #428

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

I think bitcoin is just like other currency, we should work to earn bitcoin and we dont have our bitcoin by free. I think, the best thing about bitcoin is we can make investment with big profits potential in the future

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August 29, 2018, 12:19:31 AM
 #429

I dont think cryptocurrency is bias, I maen, it gives return of investments to everyone who trades well, you can lose money regardless of status, you could also gain big irregardless of what your status is. This is the reason why I like the whole cryptosystem, you could buy cryptocurrencies anywhere, you could hodl  your coins without the difficult paper works from banks, and you can earn big depending on how you play with your holdings. Cryptocurrency doesnt make the rich richer, it gives everyone the same experience.

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August 29, 2018, 12:40:00 AM
 #430

I think that only makes the rich. because after bitcoin is sold in the market, the profits that have been earned cannot grow anymore.

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September 08, 2018, 07:35:59 AM
 #431

Bitcoin redistribute wealth because everybody has a chance to be rich. If you are interested you will find out how to be rich in bitcoin. Many are rich now created by bitcoin in our place.
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September 12, 2018, 08:02:21 AM
 #432

On the other side of the picture there are poor who becomes poorer and rich who got bankrupt. The winner of this game are the one who ends up getting more profit thus we can say that bitcoin can redistribute wealth but we cannot still deny the fact that those who have resources have  an advantage to this game.
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September 14, 2018, 10:02:02 AM
 #433

Even the wealthy people make them richer. Bitcoin belongs to anybody who embrace it.Many people are interested at bitcoin now because anybody is allowed to work in bitcoin as long as you know the rules and regulations in this site. Everyone will have a chance to be the beneficiary of bitcoin. That all benefits of bitcoin will grant to every bitcoin holders.
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September 18, 2018, 01:01:18 AM
 #434

Being rich helps to be even richer. This is due to having money to invest and double your return. Bitcoin has given both the rich and the poor the opportunity to earn money. It definitely is for the people's benefit but it just like more investments, it favors the rich.
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September 18, 2018, 01:11:04 AM
 #435

I think that the system of bitcoin when it comes to financial distribution is not really that different onto what the physical world does. We are all working here; and in the economic world, everyone is working; be it - from poor to rich. Hence, it is only normal that the wealth will be distributed since 'workers' here will not have the financial belongings if it wasn't because of the investments coming from the wealth of the rich. Likewise, we cannot also deny the fact that rich people, in using bitcoin, are becoming richer. Thus, I think that bitcoin is both redistributing wealth and making the wealthy richer --- it works on both ways simultaneously and continuously. Meaning, both sides and parties were being benefited.

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September 18, 2018, 01:12:50 AM
 #436

Just that... do you think there is any re-distribution effect at all due to bitcoin?
I think wealthy people will be richer but also more likely to go bankrupt. it's all risky. Whales will adjust to this market, but many whales have become bankrupt because their strategies are not on the right track.

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September 18, 2018, 01:44:12 AM
 #437

You have a point in saying making wealthy richer because they can able and easily do mining, investing, trading and gambling. But it's depends on the person on what the status of their life in accessing bitcoin.
Yes but who does all that mining, investing, trading and gambling? Maybe with the exception for the last activity, it is largely done by the wealthy of this world. Which proves the OP point, the resistribution will be very minor.
It can be both. many of my friends who have economies are not very good before. but with their perseverance and skill in making
profits in crypto investments make them rich now. come on. we know that crypto gives big profits to anyone right

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September 18, 2018, 02:12:51 AM
 #438

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

Bitcoin affects the both. It makes the wealthy people becomeore richer and can also make the not so wealthy people to wealthy. Because of the quality and characteristics of bitcoin, rich people see it as a new business that is why they keep on investing in here. They proved that bitcoin is somehow can gain them more profit. As for the not so rich people, if they are wise enough to understand the bitcoin and tge market then it can be their source of money or income.

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September 18, 2018, 02:20:20 AM
 #439

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

it depends on the capital you put in bitcoin, if you put huge amount of money invested, the ROI is bigger, wealth is not free, bitcoin does not promise us that if we do bitcoin, we are sure to get rich, wealth is dictated by how much we invested, it does not guarantee us sure wealth but the possible of being rich rather. bitcoin cannot re-distributes wealth to everyone.

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September 18, 2018, 08:46:26 AM
 #440

For bitcoin to serve its altruistic purposes and executing Satoshi’s original vision, bitcoin must be traded and spread around, not held by a few privileged hands.
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