Do bitcoin millonaires deserve their wealth?

[tiggytomb]

Yes they do, whether they simply got lucky or not they still made it to that status, I wonder how many are out there through crypto? I would guess quite a few.

[Noizer]

Some time ago, I could do mining with a cheap (300$) graphics card and a Celeron processor. Did I invest a lot of money? No. Did it take me time? No. The biggest problem was keeping the machine up and connected to the Internet. After a year I got tired and decided to call it off. Now I have a fair stash of Bitcoin and I can count me as one of the millionaires. I would never have predicted the surge in value. Was I lucky? Probably. 

[MainIbem]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

Not everyone that invest in a business should have knowledge of the business. Investment decision is not the same as management decision. Here it is risk taking that counts. All the Bitcoin millionaires took risk and are reaping from the benefit of their risk.

[emezh10]

Why not? They have risked their money into it knowing anytime that it can go down quickly or even trusting it when it was really worth nothing. At the end what they risked have really paid off for them and there is nothing wrong with that. They are the people who believed in Bitcoin and didn't listen to the bad things some people are saying to it.  Any person who tried to risk their money in order to earn money deserved their earnings. I don't even know what you are seeing wrong with it.

They were the early birds, they were early believers that bitcoin is a good investment for long term. So why question the fruit of their trust? They did not steal that money from any one, nor they were money launderer. Their success is also giving us opportunity to replicate what they have done, and become future millionaires too.

[Fundamentals Of]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

What do you want to imply here? Actually, I think it is fair. It is not fair if the millionaires are only those who are formally educated about business, or management, or economics, and the like. The game would never be a fair one if those who have not received formal education will never be able to become a millionaire. For me, the millionaire spots are not intended for those who are well-educated. These spots are intended for those who are risk-takers, for those who are willing to go at it wholeheartedly, for those who are determined yet patient.

[obadia]

I am impressed to see most people answer in a monotonic "yes"!

My answer is the exact opposite, but I guess my opinion will be unpopular.
While the question is pretty unclear, it all goes back of how you define "deserve".
Is it consequential of the work input? the risk taken? The added-value to society?

I would say they deserve it as much as a wall-street or commodities speculator.

In other words:
- They input no "work", and by this I mean no skills x time into it.
- They did take risks which involved spending time, resources or money into mining
- Finally the question that matters the most to me:
What did they bring to society? While some investors bring money for businesses to develop, pure speculators tend to just make money on price differences based on the expectation of the next of others. Said in other words: While the acceptance of cryptos and other blockchain applications have been affected and motivated by early adapters, I believe the added-value they brought to society is, in general, nil; therefor not deserving money. Their risk-taking is void of any added-value for society other than their own profit (contrary to ICOs, which have a real economical element for some).

People in this forum tend to forget that Bitcoins is a zero-sum game. So each millionaire has been banking on other enthusiast who entered the dance a bit later.

It is fair for them to have their millions in this capitalistic society? Yes.

Do they deserve it? No.

Last but not least, I am very happy for them and wish they enjoy it all!

p.s. I understand the high bias of hopeful millionaires as pinnacle of this forum's community drives the answers.

[LiberateDPigeon]

In the stock trading industry, whoever risks their capital deserves the gains. I don't see it so differently in crypto trading.

[Janation]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

I think they deserve to become a millionaire if they really work hard for it and they do not cheat like they scam, hack or something.

Not all bitcoin millionaires are deserving to be millionaires, why? Most of them work hard and became patient for it while the others bought it, forget it and then just remembered it when the time it hits a good price in the market making them millionaires or billionaires. Still they do not deserve it but it is there, it happened, they become millionaires and the best thing we can do is to continue using bitcoin maybe in hope of getting millions or maybe billions of profit out of it.

[DesmondHayes]

Everyone has the right to enjoy the wealth he/she gathered from his/her own actions. We are all striving towards the wealth and it would be a lie if someone says that that the wealth is not the goal for them in the crypto market. Jealousy is something that people shouldn't do.

These millionaires which got wealthy for sure didn't earn those millions without a risk. In every trade and investment, there is a risk involved and I can only congratulate to those unknown millionaires which are enjoying their wealth right now.

[camito]

Of course they deserve it. Anyone deserves to get paid from their hard works and faith in bitcoin. They stick to bitcoin even in its dumping point where most people who invest in bitcoin leave and sell their bitcoins but look at bitcoin now, it rises its price and from this, people who feel courage to stick to bitcoin get they wanted and they did not regret investing in bitcoin.

[trecore4]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

 I think they deserve it. To invest into bitcoin or crypto currency we do need to have at least little or computable knowledge. Without this we can not have proper investment portfolio. But anyway we have seen many people who just inevsted on the basis of trust and future goals. Like in 2009 and around that year many of the people fled into bitcoin just to have fun and many of the inevsted out of curiosity. Now we see that the same people are millionaires. But I do believe they deserve it because they gave their time and investment to develop the bitcoin. :-)

[maarx]

Knowledge on a certain subject is required required to succeed in a business or here in crypto currencies. Just watch out for best coins, invest in them, wait and earn or become millianiary once the coin's value goes up. You no need to be an expert in trading, or inteligent in blockchain to gain more wealth from crpto currencies.

If you are smart and lucky enough, you hand tackle and handle things to success.

[Ian Dave]

Yes, I agree that Bitcoin millionaires deserve their wealth because they work hard on it even do they don't have any skills or a knowledge about this currency.

[Ranly123]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

Yes they deserve their wealth because they work hard for it and they invest their resources to reach what they dream of. Even without knowledge in the economy or business but they try to do their best to earn a decent amount of money and with luck too they earn their millions.

[amaydel]

Yes they do deserve their wealth for as long as they got their wealth in a decent way and not in an evil way. It's very nice to hear a person who become a millionaire because of his hardwork and dedication.

[LANZ777]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

Everyone deserves bitcoin wealth. Whoever wants  and beleive in bitcoin is a part of bitcoin wealth. Millionaires have the big opportunity to earn a million also because that have the money to trade and invest bitcoin. But if you have the potential to upgrade your knowledge in bitcoin you will get your dreams quick. There's nothing lmpossible if you want to have it you move.  

[dulce dd121990]

Even if those multi millionaire because of bitcoin has no enough knowledge about the crypto currency business, still they are deserving for their wealth because they are working hard for it.

[KourtneyK]

Yes I think they deserve the wealth they have accumulated even if they don’t have enough knowledge of the economics of their own country. Because they might not have knowledge on that area, but I am sure they basically know what they were doing to atain that amount.

[Finestream]

Yes they do deserve their wealth for as long as they got their wealth in a decent way and not in an evil way. It's very nice to hear a person who become a millionaire because of his hardwork and dedication.

I also believe those people who seek and take risks without hesitation really deserves their wealth.It's just a matter of faith in such a way that you invest in a certain thing like bitcoin without an assurance if you'll win or lose in the end.But one thing for sure,millionaires in bitcoin have done lots of hardworks and sacrifices before they had reached their  status at the present.

[glowing10]

It is know that bitcoin has made a few millionaires, but many of these people don´t have any particular knowledge of the economy nor business. Do you think that is a fair situation?

Everyone deserves bitcoin wealth. Whoever wants  and beleive in bitcoin is a part of bitcoin wealth. Millionaires have the big opportunity to earn a million also because that have the money to trade and invest bitcoin. But if you have the potential to upgrade your knowledge in bitcoin you will get your dreams quick. There's nothing lmpossible if you want to have it you move.  

Its the risk taking ability that derives the profit associated with it. It was the courage, patience and understanding of the people who had about cypto currency has led them to make investment in such risky asset class and the result is that what ever rise happened till today they do deserve every bit of it.