Is Bitcoin Solving inequality?

[free-bit.co.in]

Inequality means that there are significant differences in wealth, income, social status, and many other factors between people. Meanwhile, Bitcoin is just a currency or an investment asset and the only difference between Bitcoin and them is its decentralized nature. That means it will help us become more private, have full control over our assets, or will help us improve our financial situation if we know how. How can it address inequality?

Bitcoin is not a magic wand or god that can solve all the world's problems. If we want to be rich, want to have power, want to be more respected...it all depends on our efforts, bitcoin cannot help.

[HustleZ]

Thanks for all the replies!
What I learned from the replies was that The whales or the early buyers of Bitcoin have an advantage because they believed in something others did not and they got rewarded for it. As far as the concern of inequality it does solve it by giving people control in their own hands.
Thanks again for the replies on my foolish post 

[Emjay24]

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.

99% of Bitcoin supply have not been mined yet, only about 93.6% which shows the report is wrong even without looking at it. Maybe by 2140 we would have an accurate report of the distribution of mined Bitcoin.

Although I know that the distribution of Bitcoin is so much of an irregular pattern, but the report is much of an exaggeration to me.

[justdimin]

What I learned from the replies was that The whales or the early buyers of Bitcoin have an advantage because they believed in something others did not and they got rewarded for it. As far as the concern of inequality it does solve it by giving people control in their own hands.
Thanks again for the replies on my foolish post 

This is correct, you understood very well. Inequality however is not solved by giving control to people, it is in control of people and yet it is not solving it, because people do not want equality. If they wanted it we would have had it even with fiat, because there are ways we can do equality.

Like for example political ideology of Communism is based around equality, not 100% exact same equality, but at least closer, and nobody higher. Even in communist nations it wasn't equal like it claimed to be, and nobody wanted it anyways. So you can safely assume that even with bitcoin, and even with decentralization, and even with our own control over our own money, we are not going to get rid of inequality, it's just not in the human nature to do so.

[EarnOnVictor]

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?)

If you are looking at Bitcoin from the angle of equality, you should look at it from the angle of equity, fairness and accessibility. Once you have your Bitcoin, you can use it as you like, like any other people (Rich or poor, Yankee or European etc) without any discrimination or rejection.

What you referred to is the reward for those who trusted Bitcoin when it was still doubtful, and if Bitcoin has enriched them, it doesn't matter (no partiality here). They are one of those who believed in it and made it have an early rise. This is a huge effort, trust and commitment that needs to be rewarded.

That is the way I see it. Has Bitcoin made them rich? Oh, Yes. Is the richness unjust? Heck No!

[Zaguru12]

If you are looking at Bitcoin from the angle of equality, you should look at it from the angle of equity, fairness and accessibility. Once you have your Bitcoin, you can use it as you like, like any other people (Rich or poor, Yankee or European etc) without any discrimination or rejection.

What you referred to is the reward for those who trusted Bitcoin when it was still doubtful, and if Bitcoin has enriched them, it doesn't matter (no partiality here). They are one of those who believed in it and made it have an early rise. This is a huge effort, trust and commitment that needs to be rewarded.

That is the way I see it. Has Bitcoin made them rich? Oh, Yes. Is the richness unjust? Heck No!

I definitely think OP is actually wrong in his assessment of bitcoin solving inequality. Bitcoin solving inequality doesn’t mean that everyone will be assigned same number of tokens or there will be limitations of what everyone can hold so some people do not hold more that’s clear centralization. It is an issue of money you can have all the money and decide to buy large bitcoin today and no one would be able to stop you because the network is decentralized. What Whales have is more money and Satoshi can not actually stop that. What early investors have is reward for believing in something had this gone south wouldn’t we have all called them fools. Calling for equality here is like saying Legendary accounts on this forum should be dethroned to same level as someone joining today what’s the reward for been supportive since day one.

Bitcoin gives equality in such a way that both the big investors or elites can buy and sell bitcoin just like a normal person. Both people can move their funds without actually having it censored in network, there is no distinction in the UTXO. Traditional monetary institutions didn’t give this equal opportunity and it only bitcoin giving everyone its own equal freedom

[adaseb]

In Satoshi‘s original vision, it was supposed to solve inequality but what happened later on we started getting ASIcs and mining became very unprofitable for the minority.  What Satoshi said is “ one PC one vote” however when bitcoin started going up in value, people started mining with expensive GPUs and then they started mining with expensive ASICs so basically only certain large corporations benefited from mining and right now where we have a similar issue with all these bitcoin ETFs.

Bitcoin is extremely expensive and most people barely have $2000 in their savings account account so who is going to buy bitcoin for over $100,000 obviously there are a few lucky ones that invested in bitcoin in the early days and they’re millionaires, however it doesn’t really solve inequality as a whole its becoming more and more centralized and more and more bitcoins are in the hands of institutions, which is not what Satoshi wanted.

[Sonia_123]

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 is difficult to solve inequality because we are not equal in the world, the rich are getting richer because they acquire more than the middle class or lower class acquire lesser amount.

Bitcoin was created during the recession to the bit to bridge the gap of global wealth which has now becomes broaden within the last few decades, and was also creater to overturn the manipulation of centralized currency, which has been given the universe good and better to access financial services without stress of traditional banking, which is being achieved today, the financial inclusion is now on the high side since more individuals are having access to open and manage their finance independently .

[Dunamisx]

One thing I will appreciate us to understand about bitcoin is on its unique appearance, being a decentralized digital currency, whereby it's not meant for some set of people, instead for everyone to use, also, the motive for bitcoin creation is not to tackle or attack the existence of the fiat currency, but in serving being an alternative digital currency we all can depend on if we are tired of using the centralized system of financial economy, without going through an authority.

[bangjoe]

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.

I say that no, Bitcoin was not created to complete inequality, Bitcoin was created for resistance to the Fiat system that was not transparent and also managed by certain entities.

The imbalance is the task of individuals and government, in the gap of those who must complete it themselves, Bitcoin does not have a burden to eradicate social inequality.

[Bitcoin_people]

Bitcoin never discriminates against anyone, but rather treats everyone equally. From the perspective of Bitcoin, it provides equal services to everyone, rich and poor are equal to Bitcoin. If you use Bitcoin, you will never be discriminated against. However, it is true that those who have more Bitcoins have power, just as not every person in the world is equal, so everyone is financially equal. Those who have more Bitcoins will certainly have more power and influence, but we know that Bitcoin is equal for everyone, this is always true.

[Nothingtodo]

Since Bitcoin is a decentralized currency, it will not be controlled by any one person or any institution or government. If it is not controlled by anyone, it will eliminate inequality among everyone equally.
However, it is difficult to predict whether this will be influenced by any single institution or collective entity, such as large corporations storing Bitcoin as their strategic reserves. However, as the reserves are growing, could decentralized Bitcoin become centralized Bitcoin in the future?

[TokenTraveler]

That’s a really thoughtful question. I think Bitcoin doesn’t eliminate inequality entirely, but it changes the rules of access.

Yes, whales who got in early definitely have disproportionate influence, just like in any new technology or asset class. But unlike traditional finance, Bitcoin is open to anyone at any time, without needing permission from banks, governments, or institutions. That openness is already a big shift — it means opportunities aren’t restricted to people with connections or access to exclusive markets.

In a way, Bitcoin doesn’t promise equality of outcomes (everyone getting the same wealth), but equality of opportunity (anyone can join, hold, transact, or build on it). Over time, new adoption, scaling, and broader distribution can reduce the gap. It’s not perfect, but it’s a step away from the old gatekeeping systems.

[Popkon6]

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.

I agree with you, because many individuals and companies are aggressively collecting Bitcoin, they will soon be able to build a Bitcoin portfolio. You can see that Michael Saylor at MSTR is taking all the steps to ensure that his Bitcoin holdings are sustainable for the long term. And many countries have adopted Bitcoin as a strategic reserve, with El Salvador playing a leading role.
By buying Bitcoin regularly, they are able to build a Bitcoin portfolio, and if they aggressively collect Bitcoin, it will reach its peak and some investors will be able to hold even more Bitcoin.

[Marvell1]

Bitcoin was created during the recession to the bit to bridge the gap of global wealth which has now becomes broaden within the last few decades, and was also creater to overturn the manipulation of centralized currency, which has been given the universe good and better to access financial services without stress of traditional banking, which is being achieved today, the financial inclusion is now on the high side since more individuals are having access to open and manage their finance independently .

How Bitcoin has narrowed the global wealth gap as the rich get richer and the poor get poorer?

Bitcoin was not created to do that and it was not created to overthrow any system, don't distort the concept of Bitcoin. Simply put, it was created just to be an alternative for people who are fed up with the traditional monetary system. It was not created to solve inequality, close the gap between rich and poor, or overthrow anyone.

But today bitcoin is used more as an investment than its original purpose. Not many people use it to reduce their dependence on banks, governments, instead, they speculate on it in the hope of making more fiat from it.

[X-ray]

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.

Is it not better to call it redistribution of wealth?

There are many bitcoin millionaires out there from simply just holding bitcoin. It does create so many new generation millionaire even the young gen-z can become millionaire from just holding bitcoin.

I still think that bitcoin is solving inequality for the banked and unbanked. As for the capital, like earlier it's redistribution of wealth.

[Ryu_Ar1]

Even with Bitcoin, the situation in terms of equality, or in plain language, casteism, cannot be changed because Bitcoin was not designed for that purpose. However, there are significant differences with Bitcoin, such as when we are freer in transactions without regard to third parties or systems that have been built and designed by the government for a long time. But still, it will not be possible to equalize all finances owned by every human being alive today.

The caste system, the economic wheel where those in power still have great wealth, and the inequality for the elite will all remain the same as before, but we can express ourselves a little more freely in transactions and not always be regulated by third parties who are designed to make us seem submissive to what they control.

[fuguebtc]

Is it not better to call it redistribution of wealth?

There are many bitcoin millionaires out there from simply just holding bitcoin. It does create so many new generation millionaire even the young gen-z can become millionaire from just holding bitcoin.

But the days of becoming a millionaire by holding bitcoin are over. I mean anyone who wants to become a millionaire through bitcoin today needs to have at least tens or hundreds of thousands of dollars to start. We cannot become millionaires with small capital like 10 years ago.

I still think that bitcoin is solving inequality for the banked and unbanked. As for the capital, like earlier it's redistribution of wealth.

Today, bitcoin is considered an investment asset and is worth over $100k, it is no longer cheap and it is not free either. It is not used in payments, currency and to get it we need to have money. So I don't think it solves the problem for people who don't have bank accounts.

[Kelward]

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.

Bitcoin was not created to solve the issues of inequality in societies, it is a currency like any other, the difference is that it is decentralized and has limited supply while fiat are centralized. Another difference is that Bitcoin gives freedom and privacy in the hands of it's holders and gives ROI on the long term. Just like fiat cannot solve the problem of inequality in the society Bitcoin likewise cannot do the same. The edge that Bitcoin has over fiat is that it is a store of value that continues to reach ATH, the only people that can benefit from it's value are the holders.

[Emma.aurora]

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.

We must acknowledge that there is no absolute fairness or unfairness. We cannot guarantee 100% "fairness." What we can say is that Bitcoin itself does not discriminate based on race, class, gender, or age. However, we cannot ensure that everyone will derive equal benefits from it.