Is Bitcoin Solving inequality?

[Free Market Capitalist]

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.

What we need is equality before the law, and then measures by the public authorities so that, for example, a talented and hard-working child born into a poor family has the educational opportunities they deserve. All the current discourse on equality is nothing more than cultural neo-Marxism.

And with bitcoin, it's more of the same. People have had from 2009 until today to buy bitcoin. They could have bought it very cheaply and today be billionaires. If you haven't done so, that's your problem.

[lizarder]

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.

In terms of freedom, perhaps we have one of the best opportunities in Bitcoin, because with this opportunity, others don't need to control or even know what we're doing, especially when it comes to financial freedom. Bitcoin was created for P2P transactions without the need for a central authority, allowing people to be more independent in their activities. This advantage can enhance freedom without government control like banking services.

Another aspect of inequality is that we can achieve financial freedom through investment activities because Bitcoin has hedging capabilities. If someone used to save, perhaps now we can use Bitcoin as a hedge against our money, so deciding to invest wisely is a much more appropriate choice.

[laspol65]

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 originally created to make transactions instead of fiat money. Currently, people are holding Bitcoin for the most part, because every person is now experiencing Bitcoin and every person will be able to be more successful in the future by using this Bitcoin to become economically independent.
Every person has learned to predict the future, and the complete method of how to use Bitcoin in the modern era has come to hand. Because whoever has Bitcoin will be more powerful in the future.

[Jubilee58]

I don't think bitcoin is solving the problem of inequality because just like fiat currency, everyone does not possess the same financial strength, but everyone spend money. This scenario is the same with people holding bitcoin, any one holding bitcoin is free to spend it but that does not mean everybody holding bitcoin are equal.

If we take statistics of those holding bitcoin, you will discover that there are people who are holding very large number of bitcoin in their wallet and these set of people have a away of influencing the market as they are referred as bitcoin whales, and some one who is accumulating bitcoin in bits can never be equal with this level of people.

[Youngrebel]

Bitcoin is not creating equality in the economic structure or system but it is bringing those poor investors to the middle class. Bitcoin has not created the world richest man. I saw in a news that Satoshi Nakamoto has join the top 10 world richest men and not the number one. Since when bitcoin has been realized in Africa, nobody has beating the African richest man with Bitcoin. But Bitcoin has raised Man men from grass to grace.
The peer to peer uses of bitcoin is the core invention of bitcoin and not to compete with wealth or richest.

[pawanjain]

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.

You are aiming at wealth distribution and not discrimination. Bitcoin is the same for everyone but we cannot control who owns how much.
If one wants they can own all the active supply of bitcoin if they have that much money but that's not realistic right.
If the early adopters and bitcoin whales hold more amount of bitcoin they will spend it at some point of time.
So the wealth will be transferred from one person to another and it's just that how much can you spend to acquire those bitcoins.
It's just the same with all other assets isn't it.

[HONDACD125]

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.

You are wrong. It was never one of the core principles or aims of Bitcoin to provide equal services or treat people equally, it was created to become a decentralized peer-to-peer network that can be used to make transactions without involving any third-party, which was a system created to become an alternative of the current financial systems of the world where there are central powers controlling everything, including your assets, the transactions, and anything else that you do with your money.

Hence, Bitcoin is not going to solve any problems of inequality. You should think of Bitcoin as a form of money or an asset. Can you have money or an asset just like that? No, you will need one form of money to acquire another form or it or another asset, and that's why, only those who have access to money already can have access to Bitcoin, it's just that it provides decentralization and has features that our current financial systems don't.

[Bastketsrus]

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.

True, early adopters gained a big edge, but Bitcoin’s main win is giving everyone open access to the same rules. Inequality still exists, but at least the system itself is fair and transparent.

[Proty]

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.

Well it is true that those that started accumulating bitcoin early have turns to whales that have control of great amounts of bitcoin. However, I don't think bitcoin was created to make everyone equal but rather it offers equal opportunity to everyone both the poor and the rich. It is decentralised unlike fiat that is controlled by the government.
There is no way there won't be inequality but it will never be like fiat that is being controlled by the government.

[Nwada001]

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.

Everyone will derive the type of benefit they want from Bitcoin, and it is not for us to determine the type of benefit someone will get from it. Bitcoin has been built, and it's open to all. We are not left to invest in it based on how much we can afford and use it based on what we need it for. To me, it's entirely fair to all. The only set of people whom you might say they got an advantage are those who were lucky enough to invest in Bitcoin earlier and also when mining it was very easy.

[coolcoinz]

OP seems to think that bitcoin whales will become a new power that can tip the scales. I don't agree. IMO the whales that used to be early adopters were mostly gone before 2022.

Think of it this way. If you had bitcoins bought at $100 or less and the price suddenly jumped to $20k, you probably sold most of it. People who owned a lot of BTC are now either dead, like Hal Finney, Mircea Popescu, or they lost their coins somehow, like James Howells, or they got hacked like Luke Dashjr...

There's much less OG bitcoin owners out there than you might think. These people aren't going to form any kind of independent state and won't have any power over the people pulling the strings like Blackrock.

[Promocodeudo]

Everyone will derive the type of benefit they want from Bitcoin, and it is not for us to determine the type of benefit someone will get from it. Bitcoin has been built, and it's open to all. We are not left to invest in it based on how much we can afford and use it based on what we need it for. To me, it's entirely fair to all. The only set of people whom you might say they got an advantage are those who were lucky enough to invest in Bitcoin earlier and also when mining it was very easy.

I think benefiting from Bitcoin is a personal thing and it also depends on individual input, so how possible is it for us to know the kind of benefit a particular Bitcoiner will be getting from Bitcoin that's not possible in any way.
Not all the early investor here even lucky because most of them sold their Bitcoin very early and was left.with nothing, I think I will have to say this, what solidifies our individual benefit in Bitcoin is the amount were able to invest and how long we waited for the investment to mature in the future.

[WhoYouCantKill]

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 deals with obstacles to entry and provides access to everyone to money without the control of the government, yet it doesn't cancel inequality. Early adopters and whales has hold on disproportionate authority, thereby moving inequality into something modern in nature instead of entirely erasing it.

[Questat]

Bitcoin offers equal opportunities to the people. That’s up to them how they will utilize bitcoin, it may be as an investment or as a currency. But the fact remains that bitcoin is still expensive, and those who have huge amount of earnings will have more chances to maximize their investment, while those who have limited funds, will only start a minimal investment and I don’t see any problem with that. After all, bitcoin will grow in time, as long as you keep hodling your coins.

However, equality in the sense that people will have fair share of investments regarding bitcoin, that will never be possible. Fortunate are those who have unlimited flow of income, but even for those limited amount of income if they won’t stop doing DCA regularly, in time they will still accumulate a good amount of bitcoin in their portfolio.

[atookz]

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 designed as an open and neutral financial system. During its early adoption, when Bitcoin's price was still low, it benefited a select few. Those who believed in and invested in Bitcoin early on now enjoy significant economic power thanks to its rising price.

If you say to me that Bitcoin can stop inequality, then the answer is likely yes. That is because Bitcoin gives people a chance to be outside of the traditional financial system. But it's maybe not the complete truth to say Bitcoin can stop inequality since its initial distribution was unequal. This is due to the fact that at most a few people were aware of Bitcoin, and some had in-depth knowledge, with hardly any people understanding or having access to technology. Further, limited access to Bitcoin can assist in creating new inequalities. Perhaps it's not the complete abolition of inequality but the redistribution from one system to another.

[uneng]

No, because the idea of fighting inequality removes personal responsabilities and duties of each individuals in order to give them better financial conditions and life quality.

Meanwhile, Bitcoin goes on the exact opposite route, where each individual is responsible for their own future, through a decentralized system where you have to decide by yourself becoming an adopter.

Bitcoin isn't given, it's earned, and accordingly to the enthusiasts of equality, things must be given to those who most need, taking their personal needs into consideration. Bitcoin has nothing to do with this view. As others have pointed out, it's just a neutral tool, a mean to transact money virtually in a global scale without centralized parties owning its network.

[@nn@_pen9]

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.

While Bitcoin represents a form of resistance to the traditional financial system and aims to provide equal services, in reality, power is also shifting into the hands of these active and tech savvy individuals. This could be a transformation of power from traditional institutions to individuals, which is one of the core goals of blockchain technology and cryptocurrencies.

The inequality or inequity lies in those who have great wealth, this benefits them in terms of buying bitcoins in large quantities and they continue to accumulate them. Their large Bitcoin holdings allow them to significantly influence the market price, strengthening their position in the ecosystem. This creates a kind of ownership inequality similar to the inequality in the traditional financial system.

[Boiboi20]

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.

Bitcoin is not some magic fix for inequity but it has definitely shifted things sure people who invest more will probably end up with more influence and wealth that’s just how it goes but the real change is that bitcoin opened the door for anyone to get in whether you are wealthy or just earning an average income.

However back in  the day investing was almost like a privilege of the rich you needed a big capital to even start bitcoin changed that now you can start small build up over time and still be part of the game so yeah new elites might from but at least the chances to participate is not locked behind wealth anymore.

[kotajikikox]

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 get your point. It can be frustrating to see others hold a whole lot more and get some sense of control because they can end up influencing the price for when they buy or sell. But what makes bitcoin still equal for everyone is how it is accessible to everyone no matter who you are or where you are from.

[sunsilk]

But what makes bitcoin still equal for everyone is how it is accessible to everyone no matter who you are or where you are from.

Yes, it's for everyone and this is for the people. And this is why the financial institutions are also in because they see that it's for everyone's walk of life.

Them and us can have the same opportunity of owning a few of it if we can. But the advantage is always on them because they have money.

And during the early days, they have the same chance but if we got in early. That's the advantage that we've got before them. So, it's a real thing that being in Bitcoin, there is equality for all of the believers and holders of it.