Does Bitcoin increase wealth equality?

[ROSEDF]

Bitcoin may make a person rich, but investing in other cryptocurrencies may make people see nothing.
Investment is risky. Bitcoin will not increase wealth equality, it will allow us to transform grassroots personnel into a process of wealth freedom. Some people will succeed, some people will fail.
If it is the right investment, Bitcoin will make us rich.

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[jinneas]

Bitcoin quantitatively strengthens monetary policy and protects people's wealth from government control and harvesting. And the value of Bitcoin will increase over time, and your wealth will only increase because of savings.

The decentralization of Bitcoin makes equality of opportunity possible. Everyone can participate in the same monetary system, freeing us from discrimination against the poor and the helpless by government funds. Bitcoin can push us towards a fair and equal world.

[MIldic1c]

The distribution of Bitcoin is not uniform, but in the long run, Bitcoin is a force against the uneven distribution of global wealth. Workers using Bitcoin can save wages and accumulate the scarcest monetary wealth. Therefore, Bitcoin is a currency that achieves global wealth equality.If it is inequality in the initial state, the Bitcoin network will also bring wealth equality in the future.

[Xinarae*]

The crypto market is not stable so it is very difficult to predict it accurately. Even if it guarantees what will happen in the future the networks may be wrong to rise and fall if you can invest in the right way it is possible to increase the balance of bitcoin assets for this you need to have good knowledge and experience about the market. Not the manufacturing business or the industrial product with analytical supply and demand balance the bull bear gap when it comes to valuing things like bitcoin is not only in terms of price but also very purposeful for their existence as investable assets.

[peter0425]

Bitcoin may make a person rich, but investing in other cryptocurrencies may make people see nothing.

make people see nothing meaning only bitcoin can bring profit and gains? i am not sure if you are correct but for me? i made profit in altcoin also so disagree on this.

Investment is risky. Bitcoin will not increase wealth equality, it will allow us to transform grassroots personnel into a process of wealth freedom. Some people will succeed, some people will fail.

it is equal if we will act us one, we will hold in time and will sell in time also that is equality , but since the market needs a loser for others to be a winner ,then that is what we called Cycle of market.

If it is the right investment, Bitcoin will make us rich.

In the right investment? do you really understand this right? we are talking about bitcoin so what is other investment there?

[KevinRosa]

Bitcoin promotes the fairness of the global currency. As for whether wealth equality can be achieved, I think it is impossible. Maybe after many years, through fair game rules, the wealth gap will be narrowed. The weakness of human nature is not to worry too much, but to worry about uneven distribution.

[oemar bakrie]

The real basic wealth of the ability of a diligent person to always follow and enter in a bitcoin market movement..
from small things are always collected and do not need to have large capital to achieve wealth with bitcoin..

[Zedpastin]

The rich who have the wealth to invest in Bitcoin will accumulate more wealth the gap will not close instead it will widen. The average joe does not have the money to invest in Bitcoin to make enough to close the gap they might become rich from it but the gap will widen because every rich person will have invested in Bitcoin to.

[isaac_clarke22]

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Making someone rich? Uh no. Bitcoin isn't really that type of stuff that you expect that would give you wealth. Although I am gonna be honest that its value is insane from how it just go all the waaaay up in its price, but again there are people forgetting about what Bitcoin is made for.

Other investments you are mentioning are surely just those shitcoins.

[Fortify]

Due to Bitcoin's supply issuance schedule, it's fair to say that those who buy bitcoin early achieve (exponentially) outsized gains.

Based on what we've seen so far, adoption looks something like: cryptographers -> early adopters -> suits/elite -> the masses

Given that the exponential nature of adoption and returns, doesn't Bitcoin further increase wealth equality? So that the elite are even richer than the everyone else?

To be a bit more specific, what I'm envisaging is the new world to include three groups of people, the elite (aka "the 1%" of the old world), the early adopters (aka "the 1%" of the new world) and the masses (the remaining 98% of people).

Before bitcoin maybe top 2% of people owned 80% of the wealth. But after bitcoin, perhaps top 2% would own 95% of the wealth (approx only to illustrate point).    

Thoughts?

I'm not sure that Bitcoin does increase wealth inequality - I think that it is an ongoing process that happens regardless of Bitcoin. The rich get richer every single day, simply because it is extremely hard to outspend their various sources of income. They will have huge stock portfolios which generate money in the form of dividends (companies paying out their profits) which usually get reinvested to buy more shares, so the dividends increase next quarter or next year - only a small fraction is usually siphoned off to pay living expenses. Bitcoin is just another storage vessel for their money and they are more than happen to join the hype train if advisors are showing them massive gains on certain types of investment.

[tanjiran]

The real basic wealth of the ability of a diligent person to always follow and enter in a bitcoin market movement..
from small things are always collected and do not need to have large capital to achieve wealth with bitcoin..

In this case, we must be patient and consistent. buying a small amount is not a problem, as long as it is sustainable, if it is collected over time it will be more and more. This is similar to the DCA strategy, where we buy assets with fixed capital and are carried out for a certain time continuously. for example, buy bitcoins every month by setting aside 10% of income. This is quite effective for those of us who lack market analysis skills.
Either way, bitcoin offers an opportunity to get rich, if we don't become people who have the ability, we hope that we become lucky people. a lot of surprises in the crypto world, enjoy and take advantage of it.

[Fatunad]

Due to Bitcoin's supply issuance schedule, it's fair to say that those who buy bitcoin early achieve (exponentially) outsized gains.

Based on what we've seen so far, adoption looks something like: cryptographers -> early adopters -> suits/elite -> the masses

Given that the exponential nature of adoption and returns, doesn't Bitcoin further increase wealth equality? So that the elite are even richer than the everyone else?

To be a bit more specific, what I'm envisaging is the new world to include three groups of people, the elite (aka "the 1%" of the old world), the early adopters (aka "the 1%" of the new world) and the masses (the remaining 98% of people).

Before bitcoin maybe top 2% of people owned 80% of the wealth. But after bitcoin, perhaps top 2% would own 95% of the wealth (approx only to illustrate point).    

Thoughts?

Bitcoin wasnt created for that sole purpose because this is mainly focusing on decentralized payments without 3rd party involved which is totally not mentioning about equality or even just with common sense
you could really able to tell that this is something impossible to happen on this world as there would be people whom do love to accumulate more as much as they can.To think about wallets that do own
more than 1 bitcoin and the rest is just some fraction or proportional. There would be people who do love to be on the peak spots when it comes to their possession which is the sad fact.
Why would thinking off about equality? It wouldnt happen.

[stompix]

Did 'Traveller's Cheques' solve wealth inequality before they became obsolete.  Has email solved it?  No.  Because these things weren't designed to do that.  It wasn't their purpose.  Solving wealth inequality isn't in the remit here.  Bitcoin is not some magical cure-all which somehow fixes every problem you care to name.

I know a magical cure for inequality. Let some morons due to some redistribution and as history told us in less than 10 years everybody will be as wealthy as a church mouse. Works flawlessly since the 18th century.

If that were true, don’t you think the price of BTC today would be much higher than it really is? If elites (billionaires) really bought BTC, then it would be very visible on crypto exchanges that would be far less liquid than it is today - because I have not heard of a case where someone failed to buy BTC because there is a shortage on some exchange.

I think this is one of the other myths that gets regurgitated here topic after topic, if the "elite" or the reptilians or the Bilderbergs or the NWO or whatever would have been secretly buying coins with a tiny percentage of their total wealth we would not be at under $1T in marketcap by now. And the excuse that they keep prices low by doing some voodoo magic to buy coins cheaply is also simply ridiculous.
Just the 1% of the wealthiest Americans own (legally and traceable) around 42 trillion in assets, if they would have used even one tiny percentage of this, the numbers would be totally different by now, let's not forget the current $800 billion includes also satoshis' coins and other lost coins, coins for which nobody has paid a dime ever.

Anyhow, back to the wealth redistribution, again, day after day, people are preoccupied with other people's money and how bitcoin is helping and not helping like a bunch of code would ever be capable of applying socialist principles. Too bad that it seems I'm not going to get used to this barking anytime soon.

[aoluain]

Yeah that's my point - I believe billionaires have been buying bitcoin for years. A high percentage of the elite already own bitcoin.

If that were true, don’t you think the price of BTC today would be much higher than it really is? If elites (billionaires) really bought BTC, then it would be very visible on crypto exchanges that would be far less liquid than it is today - because I have not heard of a case where someone failed to buy BTC because there is a shortage on some exchange.

Regardless of the fact that the BTC supply is limited to 21 million coins, and that it seems very small to some people - there are still large (millions of coins) in the open market, but also in the OTC market.

Being rich and being elite is not always a sign that someone is intelligent, because there are those who have inherited wealth and do nothing with it except spend it. Consequently, I don’t think these elites took BTC seriously until the bull run in 2017 - nor did many ordinary people.

I agree, billionaires have only started to take interest in Bitcoin. As you said before
Lucius, anything under $100,000 is a bargain but unfortunately the higher the
Bitcoin price goes the less ordinary people can afford to buy, not really relevant for
the elite so that way Bitcoin does increase inequality, but what financial or investment
vehicle doesnt?

This thing about wealth equality and wealth distribution doesnt work, at best it would
work for a short time. Some people will earn more than others, some will spend and save
more than others, does that mean there should be wealth redistribution every 5 years?

[Keremgor]

Bitcoin fixes unbanking and cantillionaires to an extent but Grin fair distribution model completes this idea.

[Zedpastin]

The distribution of Bitcoin is not uniform, but in the long run, Bitcoin is a force against the uneven distribution of global wealth. Workers using Bitcoin can save wages and accumulate the scarcest monetary wealth. Therefore, Bitcoin is a currency that achieves global wealth equality.If it is inequality in the initial state, the Bitcoin network will also bring wealth equality in the future.

How does Bitcoin save wages? Most people would expect to be paid in the same amount in both fiat and Bitcoin but people who get paid in Bitcoin might hope that Bitcoin gains price and they benefit off of it more. It does not save wages. Bitcoin does not achieve global wealth equality because to gain Bitcoin you have to invest which requires money at first you cannot generate it without invest a lot of money.

[lalabotax]

If you have 1 BTC, you will be said as wealthy if you cash out it and by fiat.
And the amount of the fiat itself that will determine it. This is actually the common sense and opinions of many people around the world.
People are rich if they have a lot of money, big companies, work in top companies, have big houses, many vehicles, and also others.
but if you have even 3BTC, will you consider rich?
If someone else knows about Bitcoin and what's inside your wallet, yeah you will.
But for many other ordinary people, they will not think about that if you don't have some things above.

[AliMan]

Bitcoin will only benefit for those who really have enough money or the rich guys buying it. Sadly the average people one get smaller portions of profit out of it, because they can't buy as much as the rich person did.
However there's an other options investing with altcoins can be a good alternative but have no assurance at all.
In general I don't see any wealth equality, everyone has a different financial wealth situation to tackle with.

[James Watson]

Bitcoin cannot solve this problem. Bitcoin's inequality will be more serious, because wealthy investors can afford to buy more Bitcoin, and the supply of Bitcoin is limited. Like whales, they can do anything in the market. Manipulation, causing panic among retail investors, isn't this the power of capital? So I don't think Bitcoin will make wealth equal.

[Melody kdl]

I don’t think that equality of wealth is a good phenomenon. The law of survival of the weak and the fittest is not unreasonable. When all are equal, who will have the desire for upward progress and the motivation to work hard. Life is unequal. The reason why people work hard, Bitcoin will not solve this problem. Everyone's initial starting point is different, so they will not reach the same end.