Richest 2000 People richer then poorest 4.6 billion

[mu_enrico]

Actually, it could solve some economic problems we're currently facing. The only reason it doesn't yet is because it's not only still in its infancy, but adapting to the way Bitcoin works is way harder than we believe. We obviously cannot see the difficulty of it because we already know how to use it & how it works (or at least a part of us, BTCTalk members), but you can clearly see it as soon as you try to tell somebody who has never been in this market before about Bitcoin.

No mate, in economics, if we talk about economic problems, it is related to scarcity because of limited resources.

All societies face the economic problem, which is the problem of how to make the best use of limited, or scarce, resources. The economic problem exists because, although the needs and wants of people are endless, the resources available to satisfy needs and wants are limited.

https://www.economicsonline.co.uk/Competitive_markets/The_economic_problem.html

That said, using Bitcoin as money does not make resources magically become abundant.

Bitcoin might not turn us into the financial freedom we deserve to live into, but the world is surely being changed by it as we speak.

Financial freedom itself is a meaningless jargon popularized by "scam" motivators or shills. The idea about a person that can buy anything without "thinking" or employ some "work" is impossible because of limited resources, as mentioned earlier.

But Bitcoin can level the playing field. A person in Indonesia could compete with a person in Europe for some artwork paid with Bitcoin.

[d.kevin29]

No mate, in economics, if we talk about economic problems, it is related to scarcity because of limited resources.

My mistake. English is not my primary language so I might've used the wrong words that confused you. When I talk about economic problems I'm talking about how Bitcoin can solve today's problems by replacing our inflated currencies with one that cannot be printed with a click. Taking a look at countries in very harsh situations such as Venezuela, this inflation could easily turn a whole nation's net worth from 100 to 0 in the snap of a finger.

[Latviand]

If poor people have nothing there are no ways to acquire Bitcoin.

The key is earning in Bitcoin.

That's what gets people excited about it. As it stand some wee genius in rural Niger is going to have a seriously hard time monetising his skills and presenting them to the rest of the world. With Bitcoin and an internet connection he can instantly compete with anyone else anywhere.

To a much smaller extent we see that with people earning on this forum right now with signature campaigns and all the other stuff. They're now part of an economy that didn't exist before and some of them will be making much, much more money than any job available to them locally.

Acquiring Bitcoin and other cryptos doesn't always require investing. There are other ways to earn not only thru signature campaigns but also to faucets, airdrops, and such. The easiest way is to invest but earning it without using your own money would be better to begin with, in this industry. You just have to be resourceful enough in order to gain profit. But also, do not depend that much in cryptos to obtain wealth.

[Forbiddenone]

I think it is just regret thing that we all have but sometime failed to admit that we all desire to be in place of those rich guy but we can't. Same goes for btc we all hope that if were early adopter we would also be considered as whales but we cant change the past and talking about not fairly divided wealth so we can't do anything regarding it so there is point of contradicting it.

[nickenburg]

If poor people have nothing there are no ways to acquire Bitcoin.

The key is earning in Bitcoin.

That's what gets people excited about it. As it stand some wee genius in rural Niger is going to have a seriously hard time monetising his skills and presenting them to the rest of the world. With Bitcoin and an internet connection he can instantly compete with anyone else anywhere.

To a much smaller extent we see that with people earning on this forum right now with signature campaigns and all the other stuff. They're now part of an economy that didn't exist before and some of them will be making much, much more money than any job available to them locally.

This is very true I always tought Bitcoin brings opportunity for people from 3d world country's where the payments for labor are very low, even if it is 5$ a day it will probably be more then they would earn in their home country, but they probably have to spend it right away, and in my opinion it is probably best to hold.


 

I always laugh at articles like these. Not because the wealth inequality, but because people don't understand what the actual problem is, and that crypto will never make a difference. In fact, crypto wealth inequality is far worse than fiat wealth inequality. By the time the poor acknowledge the value of Bitcoin, most of the upside potential is already jammed in the price.

Don't look at how poor others are, but look at how you can improve your own situation. The far majority of the people will always lag behind the rich when it comes to their wealth, so even if there is an actual improvement on the side of the poor, it's still not enough to statistically push back the wealth % the rich owns. Their wealth grows harder than yours does. That's how things are.

So you are basicly saying the poor always will stay poor because they dont have the wealth or knowledge to become rich?
It is probably true tho, like someone without a pc doesn't even have acces to the internet and would never even be able to get Cryptocurrency.
This statement fits right in: The rich get richer and the poor get poorer

What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

basically dividing a cryptocurrency to the whole world its doesn't change anything,poor people will sell it immediately when it have a value,then who buying it will be give a small of wealth to the seller,but as the time goes a buyer will be more wealthy,and we back to richest poorest people scheme. because basically wealth is relative thing.
[/quote]

I thought about that as well what would happen if there is a cryptocurrency that gives a equal amount to every person in the world, for every new born person in the world at 18, and it will always be available to you even if you didnt pick it up at the start.

I guess you have a interesting take on it which is probably true where poor people would just sell it right away because they need money, where people who are more wealthy could save it for later because they dont really need it right away.

What if it would be a Cryptocurrency you couldnt sell every person on earth gets them.
Lets say 1 Earthcoin With that Earthcoin every person mines 2000 Worldcoins salary/divident every week/month.

[qwk]

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

It's trivial that anyone who owns anything at all is way richer than someone who owns nothing or is in debt.
IDK how many people in the world are in debt, but I am definitely richer than each and every single one of them.
I.e., you could also say "the richest person in the world is richer than X billion people", that will still hold true.

[CarnagexD]

Actually, it could solve some economic problems we're currently facing. The only reason it doesn't yet is because it's not only still in its infancy, but adapting to the way Bitcoin works is way harder than we believe. We obviously cannot see the difficulty of it because we already know how to use it & how it works (or at least a part of us, BTCTalk members), but you can clearly see it as soon as you try to tell somebody who has never been in this market before about Bitcoin.

No mate, in economics, if we talk about economic problems, it is related to scarcity because of limited resources.

All societies face the economic problem, which is the problem of how to make the best use of limited, or scarce, resources. The economic problem exists because, although the needs and wants of people are endless, the resources available to satisfy needs and wants are limited.

https://www.economicsonline.co.uk/Competitive_markets/The_economic_problem.html

That said, using Bitcoin as money does not make resources magically become abundant.

Bitcoin might not turn us into the financial freedom we deserve to live into, but the world is surely being changed by it as we speak.

Financial freedom itself is a meaningless jargon popularized by "scam" motivators or shills. The idea about a person that can buy anything without "thinking" or employ some "work" is impossible because of limited resources, as mentioned earlier.

But Bitcoin can level the playing field. A person in Indonesia could compete with a person in Europe for some artwork paid with Bitcoin.

Compared to fiat, bitcoin whales have little to no power over the price. They could pump or dump the price by a few thousand dollars but not too extreme unlike with fiat. Nevertheless, it's still sad to see that most people die of hunger and poverty while there are the 1% who controls basically the world now. Hoping that when bitcoin comes around it shows a much more desirable future for everyone.

[Captain Corporate]

The only thing bitcoin could potentially solve (if there was no fiat) is that nobody could have a lot of it, but we don't even know how that would work. If there is limited amount of money, that would mean rich people can't get rich after certain point, there can't be money printed by FED out of nothing, so eventually rich would stop getting rich and poor would have to get some of it with time. Just to give an example, there are more than 21 million millionaires in the world (I just read it somewhere, no data to back this up) which means there will never be milioanires with at least 1 bitcoin in the world, some will be left out. That scarcity could be better for us or maybe would be bad, I really don't know how it will work, I just know that printing money whenever they want to get richer is not really working, thats for sure.

[sovie]

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

It's all same. See bitcoin mining for instance, today only those can mine bitcoin who can afford expensive mining equipment and electricity Bill's. Rich n poor is social issue rather a financial one and it's there since the human life started.

[CodyAlfaridzi]

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

Yes, the magnitude of economic inequality is crazy. This phenomenon doesn't only happen in third world, developing countries but also developed ones like the US. The recent bull runs for most stock markets in the world doesn't help either because the lower end of the economic bracket surely won't get that much from that.

No. Not at all. Bitcoin doesn't have to do with economic fairness. Just because it seems more transparent doesn't mean it's "fair". I have read before that the top richest address hold the most Bitcoin, the same as wealth distribution. Bitcoin or any crypto can't change this situation. This problem needs a bigger hand, like international organizations, governments to chip in to change it.

[darkangel11]

The world encourages spending and most people are spenders not savers.For this reason the state of things will remain the same. Rich will be rich and poor will be poor.
If you see a poor or average earning person taking a loan to buy a new car from the dealer you can see he's never going to be rich. The loan will cost you 20% more than if you earned the money yourself and a new car will be 20% more expensive than the same car preowned for just a year or 2. People who can't count will lose money.

[mamahdedeh]

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

BTC is not divided equally into wallets, or we do not live in Socialism. This gap (discrimination by weight of money) is already the power source of Capitalism. So there is nothing BTC can do about it. Even the value of BTC is measured by the paper money that makes them wealthy. We support BTC not because we think it will be diversified equally, but because it is safer and more convenient than the current money.

big ideas come up on bitcoin, but unfortunately many rich people and government officials who have not agreed with this technology, maybe because they do not want their comfort disturbed by a variety of reasons that can actually be overcome.

[Yatsan]

The world encourages spending and most people are spenders not savers.For this reason the state of things will remain the same. Rich will be rich and poor will be poor.
If you see a poor or average earning person taking a loan to buy a new car from the dealer you can see he's never going to be rich. The loan will cost you 20% more than if you earned the money yourself and a new car will be 20% more expensive than the same car preowned for just a year or 2. People who can't count will lose money.

It's more like an opportunity based discussion with it regards to that topic. Rich people have a lot of chance on opportunity considering that they have a lot of money, In business they can try and try as long as they have a capital. However, The poor people only have one shot, if they save money and bring it to business they can only have 1 opportunity if they fail it will take time to build a capital again and to start a new plan.

Like it or hate it, world is unfair, The rich people have a lot of chances compared to poor people.

[NathanJB]

Richest 2000 People richer then the poorest 4.6 billion.
Richest 26 persons richer then 3.8 billion people.

Today I read this in the newspaper that Oxfam Novib calculated this in their report called time to care about economic inequality.
Especially women in underdeveloped country's are stuck in poverty and can't get out.

We all know this has been going on for years but it is pretty shocking to see the enormous difference in these numbers.
It is also hard to comprehend that most concentrated part of the wealth is hold bye a small club of men.

How do you think this is devided with Bitcoin we can all just see the top richest wallets in Bitcoin, but do you think Bitcoin is more fair devided then the current money system?
What would be the most fair way of dividing a cryptocurrency so the whole world is actually part of it and gets wealth?

I believe this is not only true to the world of fiat. This must also be true to the world of Bitcoin. There must also be a very low percentage of Bitcoin owners who own more than the millions of poor Bitcoin owners. This is also true not just in Bitcoin but also in altcoins. This has always been the case in this crazy world of ours. Equality is nil.

[fullhdpixel]

That’s just how this world is, the poor people keeps getting poorer and the rich people are getting richer. Speak of the underdeveloped countries, those are even the worst places because their bad government makes it really bad. Since, no one really cares about the rich does, they are able to do whatever they want and oppress the poor because the rich, and the poor being broke has no one to speak up for them, very bad . Their Government don’t create jobs for people, I have seen cases where the children of the poor graduate from school and end up without jobs, but the rich people are able to buy any position for their children. Things like these are what’s causing people to commit crimes.

[mu_enrico]

When I talk about economic problems I'm talking about how Bitcoin can solve today's problems by replacing our inflated currencies with one that cannot be printed with a click. Taking a look at countries in very harsh situations such as Venezuela, this inflation could easily turn a whole nation's net worth from 100 to 0 in the snap of a finger.

Right, however, for macroeconomics problems, the essence is still the same, i.e., scarcity and distribution of resources. Even with Bitcoin, Venezuela wouldn't suddenly become more productive so that more goods and services produced.

The job of a government is to distribute the resources efficiently, and inflation (price increase) is a symptom that there are too many demands for goods and services compared to its supplies, not only related to the amount of circulated money.

Bitcoin might, however, prevent corrupt governments from playing around with its currency supply. With Bitcoin, governments wouldn't be able to mask its unproductivity by artificially print more money. Hence, I agree if Bitcoin could be useful in countries like Venezuela, etc. However, it wouldn't magically solve the fundamental economics problem overnight.

[TheCoinGrabber]

I see people this has been the case for much of history and I do sort of agree. We can't force bitcoins to be redistributed, nor should we. I still think we can get to a point where income inequality can be reduced. There's more opportunities now to earn money by selling products and services online and cryptos have made this easier. In a sense money is more liquid than ever and can flow farther than before.

~

The key is earning in Bitcoin.

That's what gets people excited about it. As it stand some wee genius in rural Niger is going to have a seriously hard time monetising his skills and presenting them to the rest of the world. With Bitcoin and an internet connection he can instantly compete with anyone else anywhere.
~

It did "democratized" work same way that crowdfunding did for bankrolling businesses. The internet has been around for a long time but the introduction of bitcoins and other cryptos after has allowed people an alternative way of receiving their pay. Being able to jump over the need for banks since the wallet can be cashed out directly in other establishments is also a great benefit in a world where majority of people are still unbanked.

[Shasha80]

From the past it was true that there were more poor people than rich people, it was not a strange thing. Because getting rich was not easy,
have to go through a long process. Only people who never give up and work hard who in my opinion can be rich. And if we talk bitcoin can
avoid poverty is true, but with the condition that the person can make a profit from bitcoin. If not then bitcoin cannot make you rich. Therefore,
it is necessary to understand bitcoin correctly. So that people do not think that you can get rich from bitcoin instantly, even though the reality
is not like that.

[abeecrypto]

 '80% of the world's wealth are owned by 20% of the world's population '. This is just an estimate but you get the gist.  So, the remaining 20% of wealth is shared by 80% of the world. It all looks like it will continue this way. Don't think crypto will make it better. It could even make it worse because it is the majority holders of wealth that influences crypto market  most.

[AniviaBtc]

Do you have ideas how possibility for richest person above 100 person want to make bitcoin become with higher price, I think when 100 richest person want to be as investors with bitcoin and altcoin they can make fantastic time with bitcoin back to unbelivable price because they can make bitcoin touch with higher price and make supply bitcoin increase limited.

Can you repeat that in a known language?

If it were used for actual commerce worldwide I can imagine it would lift a considerable number of people from grinding poverty who otherwise wouldn't be able to participate in online economies. But Bitcoin won't change much in terms of the overall distribution of wealth at the extreme of either end.

Online economies are lorded over by people at the top who'll keep swelling. There'll always be whales. There'll always be peons. The best we can hope for is a slight softening.

There's nothing as instant in this world. Everyone should work hard to earn something or to have something for himself. They should learn more about cryptocurrency and don't rely in the government to give them what they want. Sometimes it is necessary to seek help, but what if there's an opportunity but you're so lazy to grab it. So my suggestion is to think of something that will help you to get out of poverty. Try to invest in some altcoins to have some small profits. The solution for poverty is hard-work and patience, government has nothing to do with your money. That's why many people are poor and not rich.