Bitcoin Solves This: Bill Gates Talks About the US Wealth Gap

[darkangel11]

This, coupled with the fact that anyone with an internet connection can access the market, means that any US citizen has the opportunity to dramatically increase their wealth without the need to be a recognized ‘accredited investor’.

The only thing statements like that will achieve is another bubble that idiots will lose their life savings on and the smart rich will only get richer.

Look who's talking. One of the richest people in the world complains about inequality. He's like a fat pig bathing in champagne that looks out the window, sees a hungry dog chained to a post and screams -poor guy, find some food or you'll die! World is so unfair!

[bbc.reporter]

just another bullshit wall of text by another bullshit website desperate for traffic. and it is using the current price rising trend to publish the new bullshit articles that sound positive and related to "price rise" and "get rich" whereas not so long ago the same bullshit websites were publishing the negative version of the same garbage talking about how bitcoin is going down and is worth nothing!

@squatter. It is clickbait. However, there are some bitcoiners who say something similar in their own echo chamber. Are those type of clickbaits created by the echo chamber or was the echo chamber created by those clickbaits hehehe?

nah, it is just a market that some newbies think they can make money from.
they keep creating websites and fill them with garbage and think now they can become rich. when that doesn't happen they start spamming the link on the internet.

I take your reply as the clickbaits were created by the echo chamber. Clickbaits are similar to products. They have their own public buyers hehehe.

[Getmon]

Bill Gates recently published a blog post reflecting on 2019, in which he noted that his extreme wealth is unfair. Here’s why Bitcoin fixes this:

https://bitcoinist.com/bitcoin-solves-this-bill-gates-talks-about-the-us-wealth-gap/

What do you think, guys?

Bitcoin does not fix it. Bitcoin is not one thing that will address the extremely unfair distribution of wealth. Bitcoin does not and is not capable of putting a solution to that problem. Bitcoin is not designed to address it. Bitcoin gives freedom to everyone, regardless of wealth status, but it does not distribute them in a fair way. Look at how whales are influencing the prices.

[jseverson]

Bitcoin CAN solve this problem if it is NOT prevented by the banking system.

How so? Anyone can do what they want with Bitcoin, regardless of what their bank is saying. Even then, that doesn't change the fact that the ultra rich can buy more coins than us poor folk, so if anything, Bitcoin helps their wealth even more than ours.

Look who's talking. One of the richest people in the world complains about inequality. He's like a fat pig bathing in champagne that looks out the window, sees a hungry dog chained to a post and screams -poor guy, find some food or you'll die! World is so unfair!

Uh, what would you rather have him do? Would it be better if he ignored the issue completely? I'm not saying that Bill Gates is the paragon of all goodness, but the rich people hate has gotten out of hand. The wealth gap isn't entirely their fault.

[Twentyonepaylots]

Bill Gates recently published a blog post reflecting on 2019, in which he noted that his extreme wealth is unfair. Here’s why Bitcoin fixes this:

https://bitcoinist.com/bitcoin-solves-this-bill-gates-talks-about-the-us-wealth-gap/

What do you think, guys?

Bitcoin does not fix it. Bitcoin is not one thing that will address the extremely unfair distribution of wealth. Bitcoin does not and is not capable of putting a solution to that problem. Bitcoin is not designed to address it. Bitcoin gives freedom to everyone, regardless of wealth status, but it does not distribute them in a fair way. Look at how whales are influencing the prices.

Exactly, many people get it wrong and think that bitcoin is some kind of charity or a tool bridge the wealth gap and reduce it but really it's not like that. Bitcoin is just the same as any other currency out there and the fact that majority of bitcoins are now hold by the whales (there are many articles elaborating this topic) its like an obvious answer that bitcoin is by no mean a tool to solve the wealth gap and to propose fair distribution of wealth.

Gullible people will get hooked to this and think that bitcoin is another get rich scheme. This is one of the biggest reasons why bitcoin can't get no stable value. People draw in and withdraw money right after they find out that they need to do some work in order to profit. People should slow down with their mindset regarding bitcoin's profitability and think about the coin as the coin of the future.

[Linkkoin]

Gullible people will get hooked to this and think that bitcoin is another get rich scheme. This is one of the biggest reasons why bitcoin can't get no stable value. People draw in and withdraw money right after they find out that they need to do some work in order to profit. People should slow down with their mindset regarding bitcoin's profitability and think about the coin as the coin of the future.
[/quote]

This is the real issue for all cryptocurrencies - many people see them only as an investment, not as a tool developed for specific functions as defined in the white paper and road plan.

[darkangel11]

Bitcoin CAN solve this problem if it is NOT prevented by the banking system.

How so? Anyone can do what they want with Bitcoin, regardless of what their bank is saying. Even then, that doesn't change the fact that the ultra rich can buy more coins than us poor folk, so if anything, Bitcoin helps their wealth even more than ours.

Look who's talking. One of the richest people in the world complains about inequality. He's like a fat pig bathing in champagne that looks out the window, sees a hungry dog chained to a post and screams -poor guy, find some food or you'll die! World is so unfair!

Uh, what would you rather have him do? Would it be better if he ignored the issue completely? I'm not saying that Bill Gates is the paragon of all goodness, but the rich people hate has gotten out of hand. The wealth gap isn't entirely their fault.

I'm not saying that it's his fault that he's rich but he is certainly adding to the existence of the gap. Sitting in a Tesla and complaining that the world is getting polluted because of all those other stinky cars is as dumb and self-centered as it gets. Is he doing something to make the gap smaller or is he still stacking millions of dollars in his bank accounts and investments?
I don't mind rich people, but I don't like it when rich people are talking how unequal the world is. They thrive on this inequality because a poor guy always has to pay twice. The poor get poorer and the rich get richer in this world. That's the way it is and that's also how Gates made money from money so he can spare us his bullshit.

[BlacksmithCorporation]

I wonder how bitcoin will close the wealth gap when bitcoin itself is showing it most clearly. The whales, but the minority, hold a huge amount of bitcoins, while most people own a bit of bitcoins, and bitcoins are getting scarcer.

[Getmon]

Bill Gates recently published a blog post reflecting on 2019, in which he noted that his extreme wealth is unfair. Here’s why Bitcoin fixes this:

https://bitcoinist.com/bitcoin-solves-this-bill-gates-talks-about-the-us-wealth-gap/

What do you think, guys?

Bitcoin does not fix it. Bitcoin is not one thing that will address the extremely unfair distribution of wealth. Bitcoin does not and is not capable of putting a solution to that problem. Bitcoin is not designed to address it. Bitcoin gives freedom to everyone, regardless of wealth status, but it does not distribute them in a fair way. Look at how whales are influencing the prices.

Exactly, many people get it wrong and think that bitcoin is some kind of charity or a tool bridge the wealth gap and reduce it but really it's not like that. Bitcoin is just the same as any other currency out there and the fact that majority of bitcoins are now hold by the whales (there are many articles elaborating this topic) its like an obvious answer that bitcoin is by no mean a tool to solve the wealth gap and to propose fair distribution of wealth.

The wealthy is always several steps ahead of the masses and ordinary people like us. We just have to accept that. It is the truth and no amount of denying will keep us away from that reality.

Right now, so many people want to have as many Bitcoin as possible. The rich can do that, buy hundreds of Bitcoin. The poor can only afford satoshis.

[jseverson]

I'm not saying that it's his fault that he's rich but he is certainly adding to the existence of the gap.

That's great and all, but what is he supposed to do at this point? Redistribute his wealth? He's already doing that through his charities lol.

Sitting in a Tesla and complaining that the world is getting polluted because of all those other stinky cars is as dumb and self-centered as it gets.

How is this even remotely close to what he actually said? He was pushing for higher taxes for rich people lol. The ideas he was proposing were completely anti-rich. He wasn't complaining about the gap, he was thinking about solutions on how to reduce it, and it requires zero adjustments from people riding stinky cars. As for climate change, he does have his own stance, and it's mostly about spending money on R&D, precisely so poor people (and everyone else really) would have actual viable (i.e. not anti-poor like everyone should buy Teslas) options to reduce their carbon footprint.

The poor get poorer and the rich get richer in this world. That's the way it is and that's also how Gates made money from money so he can spare us his bullshit.

That's capitalism for you, which Bitcoin ironically enables. The reality is, we all play under the same rules, we just get away with more stuff the more money we get. This is precisely the same situation in Bitcoin where whales are able to throw their weight around -- such is the price for freedom. Don't hate the player, hate the game.

[7788bitcoin]

Clearly, bitcoin cannot solve the problem of rich and poor and the world of tariffs. The truth is it's hard to tax bitcoin holders.
Bitcoin is a form of speculation to make a profit, so the rich will continue to be rich, and the poor will be poor.

I am not fully understanding your concept that bitcoin cannot be taxed  . If you are investing fiat to purchase bitcoin it is a recorded process and you need to use an exchange and you need to undergo KYC process and if you are withdrawing the amount once you reach the profit you normally tend to convert to fiat and the money reaches your bank account, how you are going to hide that from the government. Bitcoin is here to enrich the smart and if people are smart irrespective of their background when it comes to finances they will make their money .

[cotton ball]

Bill Gates dislike with bitcoin and never want to promote and accepted bitcoin as legal payment currency in his company any time, although bitcoin have been worth digital currency payment with increase to higher price always look bad thing by Bill Gates, when I have much money and become richest person I will promote bitcoin as the best currency payment in the world.

[imstillthebest]

Clearly, bitcoin cannot solve the problem of rich and poor and the world of tariffs. The truth is it's hard to tax bitcoin holders.
Bitcoin is a form of speculation to make a profit, so the rich will continue to be rich, and the poor will be poor.

I am not fully understanding your concept that bitcoin cannot be taxed  .

he didnt say that you cant be taxed when you used bitcoin but he is only saying that you are hard to taxed when you used bitcoin and that is true because most countries these days dont state a rule yet about tax using btc but on few countries  , bitcoin on them can now be taxed same as by using a fiat  . though i dont agree on his last statement ,  poor can get rich too he is wise with his bitcoins and rich can also get poor too if he isnt good at handling his btc or his other wealth  .

[kryptqnick]

Bill Gates recently published a blog post reflecting on 2019, in which he noted that his extreme wealth is unfair. Here’s why Bitcoin fixes this:

https://bitcoinist.com/bitcoin-solves-this-bill-gates-talks-about-the-us-wealth-gap/

What do you think, guys?

It's good that Gates it saying it's unfair, and it truly is. But to deal with such unfairness we have Rawls that offered his theory of justice that goes as follows: if you succeeded in this world due to talents you were born with, a well-off family or anything else, you're morally entitled to help out those who weren't born that lucky.  A tax for wealthy people that Gates suggests is a good and realistic step to help narrow the gap between the rich and the poor.
Can Bitcoin help? IMO only potentially as a medium of money redistribution. I've watched Mr. Robot season 4 episode yesterday where (SPOILERS AHEAD!) they robbed the riches and sent out the money divided equally to everyone's E-coin wallets. This wouldn't be possible with a current financial system, but it would be possible with Bitcoin since all the wallets are public.

[Hamphser]

Bill Gates dislike with bitcoin and never want to promote and accepted bitcoin as legal payment currency in his company any time, although bitcoin have been worth digital currency payment with increase to higher price always look bad thing by Bill Gates, when I have much money and become richest person I will promote bitcoin as the best currency payment in the world.

I think every successful business person will do the same as what Bill Gates do and the others too. This is how they managed to minimize the risk of every investment they've had before. And they see bitcoin as a risky investment because of the volatility and the time frame to actually get the targeted profit. I guess they aren't good in trading assets because they were better of selling their own products.

[JohnBitCo]

Bill Gates dislike with bitcoin and never want to promote and accepted bitcoin as legal payment currency in his company any time, although bitcoin have been worth digital currency payment with increase to higher price always look bad thing by Bill Gates, when I have much money and become richest person I will promote bitcoin as the best currency payment in the world.

How can you say that Bill gates is against bitcoins ?   Microsoft Office Roadmap Shows Bitcoin Currency Format Support for Excel.  Can you show any evidence which shows that Microsoft is discoursing bitcoins and crypto ? I do not think so and if they ever stop the support for crypto, they will lose a lot of their customers.

[Amel]

Clearly, bitcoin cannot solve the problem of rich and poor and the world of tariffs. The truth is it's hard to tax bitcoin holders.
Bitcoin is a form of speculation to make a profit, so the rich will continue to be rich, and the poor will be poor.

Bitcoin is here to enrich the smart and if people are smart irrespective of their background when it comes to finances they will make their money .

Yeah, I agree with this statement, maybe for the statement that the rich will get richer is wrong but smart people will get rich, this is what will happen if bitcoin is adopted. Why did it happen? because only smart people use bitcoin, only smart people are able to take chances when everyone doesn't see these opportunities. The fact is that rich people are not always rich, they are getting richer because they are smart.

[Asmonist]

Bitcoin has been existing for more than decade already. I believe there are rich who haven't known it yet that first year it existed. Most likely those smart and online users who are knowlegeable about had given the opportunity to earn it. Eventually it became known to the rich. And there wide array of funds can really give them an edge as well to dominate the bitcoin investment like Bill Gates. Its the reality that we need to accept.

[Polar91]

Bitcoin has been existing for more than decade already. I believe there are rich who haven't known it yet that first year it existed. Most likely those smart and online users who are knowlegeable about had given the opportunity to earn it. Eventually it became known to the rich. And there wide array of funds can really give them an edge as well to dominate the bitcoin investment like Bill Gates. Its the reality that we need to accept.

But to think that they are already wealthy, it is considerably still not fair for them to invest right now where I can consider their big investment as late to enter the market now that it is bullish. Furthermore, to solve this issue of investment, they need to hire expert individual that will work to analyze the market and to tell if it is good to invest at the moment. But one thing for sure, even if they're late, it is never a mistake to consider investing in bitcoin or altcoin as long as they remain observant and knowledgeable about the market.

[coolcoinz]

If other millionaires were doing what Gates is doing, setting up foundations, helping people, the gap would decrease. It's impossible to deal with it completely because some people are just not made to handle money. You can read about all those people who got lucky and became rich just to lose it all in just a couple years. Giving poor people money won't reduce the gap because many of them will lose it anyway, while smart rich people are making more. The money given to stupid and irresponsible poor people will eventually land in the pockets of the rich.