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

[hispout]

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

I don’t know why you’re asking this question, but have you ever heard about Bitcoin Price Pump before? And who do you think is behind such a thing, do you think it’s the poor guys?. Nope it’s not, it’s the rich dudes that does that, they come and pump the price to make extra profit and then they dump it, making lots of poor guys to lose their money and. Continue being poor. It’s not easy.

[blacknigga]

It's a pre-distribution of wealth, for all those that choose to participate. It's not too late either. If you think bitcoin hodlers are rich right now, just wait.

[Jateng]

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

For me, it depends upon the person who will handle the situation. If a person that do not have a plenty of money but is industrious, patient, hardworking and with enough knowledge about crypto that for sure will have a result of good decision, it is a redistribution of wealth. However, if only wealthy persons are the one who looks into bitcoin and eager to earn bitcoin, then it is to make rich people richer.

[10BTCaDay]

Most likely the second, because the more a person has free money the richer he becomes, and other people can not invest much and thus they can not earn much.

[Dudeperfect]

To be honest, I don't think that Bitcoin has anything to do with the redistribution of the wealth. However, the structure of it definitely helped IT'ans and early adopters to get maximum gains from it but still, it is the driver of democracy through the decentralization principle of it. On the other hand, this technology is still in the basic phase of development and hence we can not come to any conclusion at this point as we should give more time for it to grow and sustain.

[dlouulmusthofa]

I think if everyone uses bitcoin in their daily lives, there would be no such thing as redistribution of wealth because the circulation of bitcoin is not concentrated on just a few parties

[gheawari431]

I believe that only literate people can get rich. They do not miss the moment and use it to improve their well-being.

Bitcoin can be a tool for distributing wealth to people around the world, especially those who are optimistic that bitcoin is very good for investment, by means of HODL until prices increase as expected. Indeed the profits obtained are comparable to the capital invested, of course rich people whose capital is very much becoming increasingly rich with the increase in the price of bitcoin.

[aoluain]

Redistribution of wealth? How exactly does that happen?
What bitcoin does is it offers people the option to control
or put their savings somewhere other than a traditional
financial institution.

For the people on the lowest rung of the ladder their only
concern is surviving from day to day, those people need
help to get to the second rung and its not from bitcoin.

[Kokoy]

The latter. The brightest or weirdest people got in early. The richest get in after them and buy from them. The donkeys will be last and the richest will feed it back to them in a way that makes them even richer.

I agree with this. Those people who recognized Bitcoin earlier is the one who earn better for those who came later and I think that's one of the good reason of being early, opportunities. On the other hand. I certainly agree with the thing that it redistribute most of the wealth to those richer since they were the one who control this community but there were enough opportunities given to the common people like us to gather and to offer a service that suitable to what they are needing.

[blueteam09]

Bitcoin has a high price that is always the choice of the rich man who seeks to become more prosperous. They look for ways to make a profit, and the poor are their target. But the poor are always the little fish that will be trapped whenever they find the lonely opportunities that they see.

[cetald]

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

There are people who bought bitcoins a few years ago, when he was still worth very little. Now that the price has risen, they have become owners of substantial capital by coincidence. But this does not mean that they began to better understand the finances and effectively manage their funds. And if they do not learn this, then sooner or later they will lose all their capital.

[DiabolicAnt]

I think it's very random so it could do both things. It highly depends on the decisions and behavior of people who deal with crypto.

[HarmonyA]

Redistribution of wealth by bitcoin is dependent on the investors capital and decentralization policy of cryptocurrency. I would say that bitcoin redistribute wealth by giving everyone equal opportunity of investing in the apex of digital currency.

[tarball]

I don't think it should redistribute wealth. In every system there is a hierarchy, a concentration of wealth (or power). It is foolish to eliminate something natural.

[Lexurdania]

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

I think bitcoin not share coin with free. People with work on their computer and mining on the pool will earn bitcoin. I do believe bitcoin already make people with economic situation getting better and fill their need.
People with trading skill can earn bitcoin by trade their money and people with computer skill can earn bitcoin by mining.

[jamids]

Redistribution of wealth by bitcoin is dependent on the investors capital and decentralization policy of cryptocurrency. I would say that bitcoin redistribute wealth by giving everyone equal opportunity of investing in the apex of digital currency.

Yes, bitcoin gives everyone an opportunity to earn but then it would still depend on the people who would believe that bitcoin would be able to do that. There are still so many people that do not know about bitcoin and for those some who do, they still believe that it is a scam and only a little percentage believe that they would earn from it. As for the redistribution of wealth, I don't think bitcoin can help on that because there would always be people who would have a greater opportunity than others when it comes to wealth due to various circumstances.

[Layers318]

Bitcoin does not make a category of people rich but rather makes everyone who accepts it and learn its concepts and ways rich. Bitcoin redistribute wealth to its users who are able to hold and wait patiently for its price to rise.

[duoduoshigexiaozhu]

No coins can be evenly distributed. Just like the early investors of cryptocurrencies, they must have more money than you. People who invest in the future will think so, so don't expect the distribution of the world to be equal. I believe that the development of the world is polarized, and the poor and the rich live in different worlds. Unless it is a wise poor, the poor are destined to be poor. I don't even know if this development is once again a human evolution. This has already involved philosophy.

[Hemady17]

There are no such thing in this world that can distribute wealth equally. As Adam Smith said, individual ambition serves the common good. In that scenario, we can say that all people have ambition and it leads to a succession of every people that sorrounds him/her. Bitcoin does not redistribute the wealth but it can give wealth to all people.

[randyg29]

Yes of course I think bitcoin can give a fair wealthy redistribution on any people who are involved in investing to it for the last few years. But those people who are not that invested last few years with a very good amount of profit that they invested