Global Wealth Disparity is going to cause a lot of issues soon

[Nhazwrath]

Id like to point out to people here that the idea that the rich get richer and the poor get poorer is complete bull shit.  There is a wealth gap 100% and yes its large but so freaking what?  Whens the last time you starved? or died of smallpox? or had 3 out of 5 children die before the age of 5?

The normal condition of humanity for the entire length of history has been Very few rich and 99.999% everyone else hand to mouth existence or just dead.  It is only within the last 150 years that has changed.    So instead of looking at what appears to be all bad due to wealth gap you might want to study history a bit to see just how freaking bad it was and how far its come from there.

The only real success story for dragging most people out of complete abject poverty is going on right now.   like Right Now.. history wise the last 150 years is INSANE wealth generation for just about everyone.

[DrBeer]

A state system where everyone is equal, there are no poor or rich, everyone is happy and completely satisfied - UTOPIA.
You can take an infinite number of arguments, but one simple argument is enough: all people are different, they have different needs, different tastes, different cravings for consumption! Therefore, society will always be divided into 3 parts:
poor, middle class, rich. And the question is not that there are LOTS of rich and they should be forced to share with the POOR. The question is to increase the middle class.
Communism - ideology, justice reigns, there is no money, full prosperity and an absolutely conscious society - nonsense intended to manipulate the lumpenized community in the USSR. This is from the area "while you marvel in shit, and soon we will build communism and you will live in gold. But it is important now to shut your mouths, come to terms with the fact that you are treated like cattle, and be silent! We have communism on the horizon" ... .If these unfortunate people taught geography, they would understand that the horizon is an IMAGINARY border

That is the thing, for all the criticism that capitalism receives the truth is that we have made great progress during the last decades and there are less poor all around the world, but it seems people want to live in an Utopia and that is not possible, there is always going to be those that have more and those that have less.

And then in order to correct this problem people decide to enact communism, or similar economic systems, that makes most people equal but not by rising their living standards but by decreasing them to the point many of those same people lament the fact capitalism is no longer in place but by the time they realize this it is too late.

The problem is that there are a lot of lazy and greedy people who decide that if there are richer people, then for some reason they should share with people like them. This has always been and is being used by dirty politicians, such as Lenin, Stalin if we talk about (the USSR), whose goal is to create an army of slaves from lazy and greedy people. They were not promised "you will work and make yourself a fortune", they were promised - "we will destroy the rich, and then everything will be free, and everyone can take whatever he needs." By the way, this correlates well with history - such regimes were actively created in the 19th and 20th centuries, when there were many poor countries, and significantly decreased by the end of the 20th century, when the average living standard in many countries increased significantly.
I'll finish - I'm against feeding embittered lazy people. Want to live well - earn it!

[suzanne5223]

Why is every currency so centralized? By doing this, none of them can become global currencies.

Firstly, it not every currency that are centralized which Bitcoin is a perfect example but there will never be a global currency even if the centralized coins you said are decentralized because every countries have it monetary issues, traditions and government orientation.

USD- Chinese will never accept it since it is printed indefinitely by USA

Chinese don't accept USD because it was printed by the USA, they reject it because they are a communist country and they will never welcome any currency or activities that will affect their communist ruling.

[jaysabi]

First of all, Bitcoin is not fully owned by the top 5 mining pools as you say. BTC isn't owned by anyone and if the mining pools ever decide to change the parameters as they like, we fork off and solve the issue within hours at most.

Then, there wouldn't be just 0.0000001BTC per person. 21M coins divided by 7,800,000,000 people is about 0.00269 per existent person. Bitcoin is way easier to be moved around in much smaller quantities - you can't pay with 0.0000001$, can you?

The global wealth disparity will be a thing no matter how much we change things. There'll always be someone who earns more (or steals from others). We can't really change that unless we apply communist rules.

The global wealth disparity doesn't have to be a thing. It's only defeatist propaganda you've been fed that makes you believe so. Similar to how creating a currency not owned by a central bank is not a thing that caught on until bitcoin. People who earn their money are not the issue, one could argue maybe they pay more taxes etc. but thats to be decided. The issue is with people who don't earn their wealth- either through stealing as you say or simply inheriting.

This unearned wealth creates the issue because most people would reward someone for doing good. Almost no one would reward someone for doing nothing or worse hurting others. Yet in most parts of the world the wealth is held by people who were friends with kings, dictators, etc. from the last few centuries. I am not especially into choosing an economic side, I just believe we should develop the best system from the ground up. Rather than using a system biased by history to determine who is the wealthiest.

This doesn't even make sense. Bitcoin solves nothing about wealth disparity. Bitcoin is just another asset like everything else, that you cannot acquire unless you already have wealth. There are exactly two ways to acquire wealth on an individual level: 1) you acquire it from someone who has it, or 2) you acquire it through economic participation. Bitcoin changes exactly zero of these possibilities.

[20kevin20]

This doesn't even make sense. Bitcoin solves nothing about wealth disparity. Bitcoin is just another asset like everything else, that you cannot acquire unless you already have wealth. There are exactly two ways to acquire wealth on an individual level: 1) you acquire it from someone who has it, or 2) you acquire it through economic participation. Bitcoin changes exactly zero of these possibilities.

It was able to change something back when the wealthy were too skeptical about it and the people were free to get into crypto investments. But now, one single institutional investor has enough monetary resources to invest more than probably the average total sum of 100 usual investors. The rich have too much purchasing power and they will only earn more and more whenever they feel like something is worth to be given a shot.

The markets move according to where the Elites want them to move. It's not a natural market movement no matter what domain we'd talk about. They only keep accumulating wealth and so the wealth gap between social classes is going to keep getting larger and larger without consequences. It is what it is, and we can't do much to solve it.

[posi]

First of all, Bitcoin is not fully owned by the top 5 mining pools as you say. BTC isn't owned by anyone and if the mining pools ever decide to change the parameters as they like, we fork off and solve the issue within hours at most.

Then, there wouldn't be just 0.0000001BTC per person. 21M coins divided by 7,800,000,000 people is about 0.00269 per existent person. Bitcoin is way easier to be moved around in much smaller quantities - you can't pay with 0.0000001$, can you?

The global wealth disparity will be a thing no matter how much we change things. There'll always be someone who earns more (or steals from others). We can't really change that unless we apply communist rules.

The global wealth disparity doesn't have to be a thing. It's only defeatist propaganda you've been fed that makes you believe so. Similar to how creating a currency not owned by a central bank is not a thing that caught on until bitcoin. People who earn their money are not the issue, one could argue maybe they pay more taxes etc. but thats to be decided. The issue is with people who don't earn their wealth- either through stealing as you say or simply inheriting.

This unearned wealth creates the issue because most people would reward someone for doing good. Almost no one would reward someone for doing nothing or worse hurting others. Yet in most parts of the world the wealth is held by people who were friends with kings, dictators, etc. from the last few centuries. I am not especially into choosing an economic side, I just believe we should develop the best system from the ground up. Rather than using a system biased by history to determine who is the wealthiest.

This doesn't even make sense. Bitcoin solves nothing about wealth disparity. Bitcoin is just another asset like everything else, that you cannot acquire unless you already have wealth. There are exactly two ways to acquire wealth on an individual level: 1) you acquire it from someone who has it, or 2) you acquire it through economic participation. Bitcoin changes exactly zero of these possibilities.

What the OP said does make sense, if we honestly if ignore the amount of BTC someone accumulated while we put into consideration the decentralization aspect of Bitcoin which make the voice every individual count we can say Bitcoin solve the issue of wealth disparity. An example of what 20kevin20 said "BTC isn't owned by anyone and if the mining pools ever decide to change the parameters as they like, we fork off and solve the issue within hours at most." cause the community are in control of the Bitcoin platform.

[Vishnu.Reang]

Rather than complaining about being poor, these people should work hard for a living. I am someone who works for almost 70 hours per week and I find it strange when lazy people complain about their poverty. I pay my taxes to the government, while these free-loaders receive their handouts from that money. And don't make any assumptions. I am no way near rich.. I can't even afford a four-wheeler. Still I never complain about my financial condition. I have worked hard over the years to improve my standard of living.

On the other hand, some of my neighbors have 7-8 kids each and they don't do any work. But these people receive free housing, electricity, cooking has and cash handouts from the governments. My family doesn't receive any of that, because I am a tax payer. And after all this, there is a section among the free-loaders who are not satisfied with what they get.

[zanezane]

Rather than complaining about being poor, these people should work hard for a living. I am someone who works for almost 70 hours per week and I find it strange when lazy people complain about their poverty. I pay my taxes to the government, while these free-loaders receive their handouts from that money. And don't make any assumptions. I am no way near rich.. I can't even afford a four-wheeler. Still I never complain about my financial condition. I have worked hard over the years to improve my standard of living.

On the other hand, some of my neighbors have 7-8 kids each and they don't do any work. But these people receive free housing, electricity, cooking has and cash handouts from the governments. My family doesn't receive any of that, because I am a tax payer. And after all this, there is a section among the free-loaders who are not satisfied with what they get.

Easy for you to say but people have a lot of differences, if hardwork was the answer, how come there are still people out there? Why is still homelessness is a problem. Sure, lazy people are an exception but if you think about it, it is pretty offensive to the people who are trying their best to earn money to survive, don't invalidate their struggles cause they are not you. This is not just a problem that only the individuals need to solve, the government should intervene if they want to destroy poverty, the big solution is to improve education and not just any education but an education that does not make factory workers or passive workers, we also should introduce sex education, it is already 21st century and people change, we are now comfortable about it. And if you are so mad about free loaders, can you not pay your taxes then so they wouldn't get your money?

[davis196]

Why is every currency so centralized? By doing this, none of them can become global currencies.

Taking a look at some of the most likely coins to become a global currency at the moment:



USD- Chinese will never accept it since it is printed indefinitely by USA

Stop writing BS.The US dollar is a truly global currency.
The Chinese have always accepted US dollars.China export goods worth billions of dollars to the USA every year.China was buying US government bonds worth billions of dollars every year.You are so wrong.
The global wealth disparity will continue to be a problem until the very end of human civilization.
We can't solve this problem with the financial system.It doesn't matter,if the system is based on fiat or cryptocurrencies-the wealth inequality will continue forever.
A decentralized financial system won't redistribute wealth across more people.Such system will just improve the security and efficiency of all financial transactions.

[AniviaBtc]

The global wealth disparity will be a thing no matter how much we change things. There'll always be someone who earns more (or steals from others). We can't really change that unless we apply communist rules.

Let's face the reality that someone will become rich and someone will suffer from poverty depending on his hard-work.

We really need to be patient, and determined to escape poverty and make our lives much more successful and happy.

Global Wealth Disparity is forever, life works that way. The essence of working is to earn money and survive our daily lives, to buy our wants and to buy our needs in life. That's the reason why bitcoin existed, to have another currency and also to make people have a good asset or investment. That's why communism is really not a good idea because people will settle on relying on other people which is wrong.

[SaShiRaJaVu]

Why is every currency so centralized? By doing this, none of them can become global currencies.

USD- Chinese will never accept it since it is printed indefinitely by USA

Looks like you have no idea what you are talking about, China has the largest reserves of foreign funds and they have around $3.4 trillion as per the data published last year and you are claiming that they will never accept the dollar  . Currency throughout history was centralized, a government or a king creates the currency to conduct trade and this is nothing new and USD is the global currency used in trade by majority of the country.

[youdacapt]

Why is every currency so centralized? By doing this, none of them can become global currencies.

Taking a look at some of the most likely coins to become a global currency at the moment:



USD- Chinese will never accept it since it is printed indefinitely by USA

Dogecoin- A fun coin and with stable development but with pow it has the same issues as btc and if they moved to pos they'd still have the same issue due to these rich lists:

(European/Russian currencies): All still held by the same people whose ancestors were friends with the king/czar since trickle down doesn't work and there is not as many "new rich" as the america's

I can only see how a currency that is globally owned could become globally accepted.

People normally purport btc's wealth centralization as a reason to buy but at 7 billion users following this trend 1 billion people would have less than 0.0000001 BTC each....that's a greater wealth divide than we currently have with even USD. I can't imagine a world where the 100 people with large btc balances aren't hunted down by the billions of poor if that was the case.

TheGreatReset.Finance

I think for a start the USD is a globally accepted currency by everyone in the world except CHINA. China deciding not to pair with usd does not mean it is completely private and centralized.

Either bitcoin, etherum or doge; just as your bank network messes up whenever there is network congestion and transaction at the same time; this tokens would also experience the same (and this is why there are high gas fees); alternatives are with crypto you can always fasten up transactions at any time, but centralized banking never guarantees that bearish or bullish.

[20kevin20]

Rather than complaining about being poor, these people should work hard for a living. I am someone who works for almost 70 hours per week and I find it strange when lazy people complain about their poverty.

No offense but this sounds silly, especially since we are mainly talking about the wealth disparity between the rich and the poor ones that do not have a choice. It is one thing to be lazy and poor and it is another thing to work like a slave (literally) for corporations, earning a living in crappy conditions and having no other choice but to continue this way.

The latter, those who work like slaves for pure survival, are the ones I count - not the lazy part of the society. They are working their asses off earning in one month less than I earn in BTC per week right now. It's unfair, but the gap will only get wider.

[Vatimins]

     The title of the topic itself is quite confusing but I get what you are saying. Thee truly is a need for acceptance for this world and less differences because of ego and grudges. The world badly needs unity and all these can only start with the leaders themselves. If they do not do anything about these issues, nothing good will ever happen with this world.

     And about the last part of your post, it is pretty hard to understand. The division you are stating is pretty impossible to happen, and if it ever does, it may not even work. Just imagine buying with that amount given, what would your change be? And dividing it that way, what if they spend it? Are they still eligible for another dividend? Maybe I'm just a bit close minded or limited in imagining what you are envisioning but I really don't thinf the idea itaelf would work.

[FanEagle]

The US dollar is a truly global currency.
The Chinese have always accepted US dollars.China export goods worth billions of dollars to the USA every year.China was buying US government bonds worth billions of dollars every year.You are so wrong.
The global wealth disparity will continue to be a problem until the very end of human civilization.
We can't solve this problem with the financial system.It doesn't matter,if the system is based on fiat or cryptocurrencies-the wealth inequality will continue forever.
A decentralized financial system won't redistribute wealth across more people.Such system will just improve the security and efficiency of all financial transactions.

Well, you have said two very different things and they are not always relevant to each other. USD being a world true currency and China accepting USD are two very different things, doesn't mean both are right or wrong, doesn't mean they have to be same or different, I just mean that they are not the same thing.

Just to give you an example so that we can understand what I am saying better; let's assume china accepts USD, and of course USA uses USD but NO other nation ever uses USD, everyone decided that they will never accept USD again, as you can see that would make USD not a global money, but still China uses it, or let's say China decides that they will never accept USD ever again, but the whole rest of the world loves using it, that makes USD a global currency but not used by china. So, basically when you say China uses it that doesn't make it global and just because it is global doesn't mean china has to use it. That's all I am trying to say.

[bryant.coleman]

Rather than complaining about being poor, these people should work hard for a living. I am someone who works for almost 70 hours per week and I find it strange when lazy people complain about their poverty.

No offense but this sounds silly, especially since we are mainly talking about the wealth disparity between the rich and the poor ones that do not have a choice. It is one thing to be lazy and poor and it is another thing to work like a slave (literally) for corporations, earning a living in crappy conditions and having no other choice but to continue this way.

The latter, those who work like slaves for pure survival, are the ones I count - not the lazy part of the society. They are working their asses off earning in one month less than I earn in BTC per week right now. It's unfair, but the gap will only get wider.

The answer lies in your question. How come you are able to earn so much from Bitcoin, while others despite their hard work are able to earn much less? When I started with Bitcoin in 2012, I hardly knew anything about it. Despite that, I tried to enhance my cryptocurrency skills. Within two years, I was earning around BTC2 per month. If the poor want to improve their lives then they need to learn new skills. It is not the responsibility of the rich to teach them these skills. They have to learn it on their own. So the next time when someone complains about low wages, ask him to improve his skill set and then search for a better job.

You don't have a choice, only if you are handicapped or affected by a condition which makes it impossible for you to learn new skills. Other than that, it is just silly excuses to get handouts.

[Mauser]

Why is every currency so centralized? By doing this, none of them can become global currencies.

Taking a look at some of the most likely coins to become a global currency at the moment:



USD- Chinese will never accept it since it is printed indefinitely by USA

The problem we have at the moment is that no country would accept a foreign currency as the global currency. You say that China will never accept USD as the main currency world wide, but the same goes for Europe or Russia. All of these countries would want to see their own currency on top. While in Asia the Chinese currency might be very popular, there is no chance in the world to see Western Countries adopting the Chinese currency as number 1 either. As long as the control of the money supply within in the hand of one government we won't see a global currency.

[Cnut237]

Id like to point out to people here that the idea that the rich get richer and the poor get poorer is complete bull shit. [...] history wise the last 150 years is INSANE wealth generation for just about everyone.

^{[CITATION NEEDED]}


Income inequality has risen dramatically over the last half century, and continues to do so. I've chosen an income chart below, but that isn't even the main driver of inequality. Return on capital is the biggest issue. The richer you are, the better the investment opportunities you have, and the more your existing wealth grows. If rate of return on capital can exceed rate of economic growth, and in the absence of a wealth tax, then 'rich get richer' is inevitable. Meanwhile, 1 in 3 people don't have access to safe drinking water.


_{https://ourworldindata.org/income-inequality#:~:text=Inequality%20in%20the%20US%20has,experience%20of%20other%20OECD%20countries.}

[Nhazwrath]

The problem with the Statement is in it's Framing.  By saying the rich get richer and the poor get poorer you are in effect altering the perspective of the question and the answer.   I didn't disagree that the rich are rich what I disagree with is the poor being poor.  I am in no way going to attempt to compare a socialist hell hole to a first world nation.   Your chart probably does that without even telling you that it does. 

When in the history of humanity have the poor been Fat? You are comparing the poor to the rich how is this a good comparison?   Maybe you should be comparing the poor to the poor? and the rich to the rich?  How about the poor to the poor IN a socialist hell hole from 100 years ago to now?

You might think that well that improvement is just technology or something.   Lets Not forget How that technology came about and where is came from!

So I stand by my statement.  It's Bullcrap.  Cowpaddies  Horseturds.

The future is brighter then ever.  Envy is part of the problem. 

Be happy with what you Have, With a Eye on what you want!   This statement will improve yourself and everyone else's condition incrementally and is in action right now. 

[jostorres]

The problem we have at the moment is that no country would accept a foreign currency as the global currency. You say that China will never accept USD as the main currency world wide, but the same goes for Europe or Russia. All of these countries would want to see their own currency on top. While in Asia the Chinese currency might be very popular, there is no chance in the world to see Western Countries adopting the Chinese currency as number 1 either. As long as the control of the money supply within in the hand of one government we won't see a global currency.

I believe there is a "global currency" as in using that for exchanges between nations and that is as accepted and understandable as it gets. If you are talking about going to a grocery shop and buying with one currency all over the world, that is not going to happen, shops will not accept just one currency all over the world, but when we are talking about huge companies making huge deals, and they do use dollars there which could be "global currency" considering how big their deals are but that is just business to business and not in our regular lives.

So, we could probably talk about having a decent amount of crypto places, that is not going to be accepted everywhere neither, but at least it could get bigger than all other fiat currencies. However this is not going to be one day we wake up and find it like that thing, it is going to take decades and we need to fix some problems bitcoin has in order to get there.