Is Bitcoin Solving inequality?

[HustleZ]

I really had this question in my mind and wanted to ask was that one of the core principle and aim of Bitcoin is providing equal services and treat people equally without discrimination. But If we look at it from the perspective of "Power" it is creating a new generation of people who hold power I.e the early adaptors of Bitcoin (whales) who hold significant economic influence because they accumulated Bitcoin was undervalued.

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

[BlackBoss_]

I really had this question in my mind and wanted to ask was that one of the core principle and aim of Bitcoin is providing equal services and treat people equally without discrimination. But If we look at it from the perspective of "Power" it is creating a new generation of people who hold power I.e the early adaptors of Bitcoin (whales) who hold significant economic influence because they accumulated Bitcoin was undervalued.

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

Bitcoin was not created to equal wealth among billions of people on this planet and it will never be able to do this.

Assuming that you own all 21 millions of bitcoins and fairly distribute those coins to all people who have been lively now on this planet, the Bitcoin distribution soon will be naturally reorganized and there will be Bitcoin whales while there will be people who sell their coins and become non Bitcoiners. This is very natural change in all distributions and likely 80% bitcoins will belong to 20% of Bitcoiners and people on this planet.

[Charles-Tim]

Bitcoin was created for P2P means of making transactions without any central authority needed for it.

It is also worth knowing that in this world, people can never be equal. Some people will have money, power and influence more than other people. That is how this works is.

[Aanuoluwatofunmi]

Bitcoin is providing equal services and treat people equally without discrimination.

Bitcoin is solving the issue of centralization as we have been having over time with the use of the commercial banks, whereby the rich will not be allow to under the same procedures and path in which the masses are going through, a decentralized network is not a respectant of anybody.

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)

Yes as you have just said it, there is no gender inequality, human segregation or status disparity in giving more preference and immunity to some specific citizens against others, we have full control over anything that belongs to us and can manage such by ourselves without the influence of a third party financial organization or government authority.

[Shadiq]

When asked about the principles and goals of Bitcoin, there is only one answer and that is that the principles and goals of Bitcoin are decentralized finance and P2P transactions. Even Bitcoin offers you privacy, freedom to set transaction fees, and complete control over your assets.

I have never heard anything about Bitcoin that says that the principles and goals of Bitcoin are to eliminate discrimination and treat everyone equally. Is this actually possible? It is never possible and Bitcoin never had this principle.

[Emjay24]

I really had this question in my mind and wanted to ask was that one of the core principle and aim of Bitcoin is providing equal services and treat people equally without discrimination. But If we look at it from the perspective of "Power" it is creating a new generation of people who hold power I.e the early adaptors of Bitcoin (whales) who hold significant economic influence because they accumulated Bitcoin was undervalued.

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

It's their luck they found out about it when it amounted to nothing and their dedication and good belief system that they held onto it until now, Bitcoin is decentralized, meaning the power is distributed to everyone to wield as much as they can by accumulating it for themselves.

You can grab your own future power by stacking now so that in the future when the price goes really high you've enough to feel powerful in your own little way.

[Helena Yu]

Bitcoin doesn't solve inequality, but Bitcoin is actually equal because anyone have the same chance to buy Bitcoin when it was worthless. So ask yourself, why you don't buy Bitcoin when Bitcoin was just a Dollar? the mistake are on you end.

I disagree if whales who own a lot Bitcoin do gives them power, they only have significant amount of coins, but if they didn't sell it, they won't able to enjoy their coins. They hold the coins, but they can't move the market.

[Hewlet]

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

By your analogy, you have succeeded in making an inference that bitcoin creates inequality because the earlier investors have been placed at a spot where they are far richer that those of us that are coming behind and those that are yet to get stated in their investment, already feels that they are late because of the current value of bitcoin. the reality in the midst of all this is that bitcoin is for everyone.

be you a rich dude, one from a dying economy and even one that is from an economy that is that is even doing really well, bitcoin is still for you.  as long as you have access to the internet and knows how bitcoin works, bitcoin is certainly for you, it does not discriminate.

[lovesmayfamilis]

Bitcoin levels the playing field in that both the poor and the rich can buy it on equal terms. But the amount of bitcoins purchased will naturally be different, because people have different opportunities. The idea itself does speak of equality, but the boundaries between the poor and the rich are unlikely to be erased thanks to Bitcoin.

[retreat]

Bitcoin was launched as a decentralized financial system, enabling people to transact without intermediaries such as banks or governments. Its purpose was never to directly tackle inequality or other social issues, but rather to focus on the technological and financial aspects, providing a secure, transparent, and censorship-resistant P2P payment network. Discussing inequality is a different matter.

[Jet Cash]

I am still of the opinion that Bitcoin was created as an experiment by the banks to explore the possibilities of a CBDC. It has been a massive success, but its long transaction confirmation time, and its limited supply, mean that tit could never become a daily medium of exchange by the world population. It has evolved into a store of wealth, and a simplified means of transferring that wealth. It is also available to all levels of society. The banks must have learnt an enormous amount from it development, and we can see this in their attempts to tokenise everything. In fact the infrastructures that are evolving out of the development of Bitcoin are increasing inequality in my opinion.

[bitbollo]

It's really hard to explain why this has been created. Maybe it was necessary a new form of money or just money designed for internet.

Bitcoin is not solving inequality. In the opposite, I think that in a certain point this is the "last tool" for having the worst ever inequality in the human society.
But in the same time this has become an essential instruments that wasn't allowed or possible to have in the past.
If you join or take advantage of this revolution you have a clear profit from this action... otherwise no.

Even the fact that you can save and store your wealth in such easy and successfull way (just thinking that no one could seize your stash or tax it) it a critical advantage.

[Wapfika]

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

There’s no such thing as equality in finance. Even communism is still not 100% equal because there’s still someone in higher that have better life to others.

Same with Bitcoin. Those who invest earlier or put a lot of money will have more benefits than those who late to invest because they don’t trust Bitcoin immediately.

It’s always reaping what you sow. There’s no equality if we have different investments action.

[348Judah]

Bitcoin was created for P2P means of making transactions without any central authority needed for it.

Well said, anyone that is using bitcoin and still falls under a centralized network or service starting from the use of centralized exchanges is yet not free from being under the control of the government, p2p should be and and the direct party involved without a third party.

It is also worth knowing that in this world, people can never be equal. Some people will have money, power and influence more than other people. That is how this works is.

We all cannot be rich at the same time or poor also at the same time, but  having the privilege to be in charge of anything that belongs to us should be our right and we must take it, while only those that have the sense of realizing this wrongs take decision towards the use of a decentralized network with bitcoin.

[Z-tight]

Your post does not make much sense, BTC is a currency, you sound like it is a person or something like that. Take note that institutional investors already hold more BTC than what the average Joe can ever purchase in their lifetime, there are also countries setting up BTC strategic reserves with BTC's they have confiscated or purchasing a large amount of BTC to set it up.

This is not a power struggle. It is a unique kind of currency that is censorship resistant and decentralized, these are some of the solutions it brings and it gives people who want to be their own bank the opportunity to.

[Stepstowealth]

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

People who Have investments in Bitcoin will definitely have more of the influence financially, than those who are not currently investing for various reasons. The thing is just that asides what it will be in the future, what it currently is that it is creating opportunity for people to invest, be it that you are earning a lot of money like you are rich or you are earning an average amount of money.

There used to be an inequality formerly with when it comes to opportunities to invest, I mean those times when you must have a serious amount of money before you can pursue any investment. Bitcoin removed that inequality, people of different financial levels can now invest in their own capacities.

[jackpotmaster]

No, inequality is a consequence of many things and Bitcoin is unable to magically fix the reality of our existence. Bitcoin is a neutral thing. It can be used for bad things but also for good things. It won't fix the world on its own.

There used to be an inequality formerly with when it comes to opportunities to invest, I mean those times when you must have a serious amount of money before you can pursue any investment. Bitcoin removed that inequality, people of different financial levels can now invest in their own capacities.

You could invest small amounts of money in other things, this was not a new invention with the release of Bitcoin.

[KiaKia]

Bitcoin is working the way it was intended but I understand what you mean OP, it just won't work with Bitcoin and I also doubt any crypto projects can make it work, I guess what you meant or hoped for is the following.

Imagine if everyone has limited amount of Bitcoin they can own, designed by the Bitcoin blockchain, so that all holders can be the same, isn't this is what you meant? A world where the rich can't simply have more Bitcoin just because they have more money.

I have once wished the same too, it is already too late to make this happen with Bitcoin if it's ever going to be possible but is there anyone out here thinking that this would have been better? I doubt it would but feel free to give a shot.

[Die_empty]

I really had this question in my mind and wanted to ask was that one of the core principle and aim of Bitcoin is providing equal services and treat people equally without discrimination. But If we look at it from the perspective of "Power" it is creating a new generation of people who hold power I.e the early adaptors of Bitcoin (whales) who hold significant economic influence because they accumulated Bitcoin was undervalued.

So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.

World power or wealth will never be equitably distributed to everyone. There will always be a shift that will create new elites. Bill Gates and Warren Buffett are making way for the tech billionaires to reign.

Bitcoin was created to be a currency to serve as an alternative to fiat. It was not created to solve financial inequality. But it has become an asset held for profit-making due to its volatility.  A report showed that about 1% of Bitcoin holders control 99% of BTC supply, which means if the price keeps increasing, a new set of elites with be created.

[jackpotmaster]

Bitcoin was created to be a currency to serve as an alternative to fiat. It was not created to solve financial inequality. But it has become an asset held for profit-making due to its volatility.  A report showed that about 1% of Bitcoin holders control 99% of BTC supply, which means if the price keeps increasing, a new set of elites with be created.

The report is wrong, learn how Bitcoin works. 1 address is not equal to one person. Most coins are held by exchanges and institutions which hold coin for millions of users.