Rigged System vs Bitcoin Truth: Who Wins?

[₿itcoin]

watching this and writing.., you could stream..

I have yet to experience what I consider to be a strong economy. Since 2008 shocks have continued to accumulate, inequality has become ingrained & the majority of us are merely surviving. With productivity projections slashed, bailout style spending under pressure & unemployment remaining at 4.7 %, the UK is now displaying more cracks. Real incomes continue to lag behind inflation despite wage growth of 4 to 5 %. In the meantime, Google spends £ 5 billion on data centers & AI. net- zero industries grow by 10 % , or almost £ 83 billion GVA. however if mitigation efforts are unsuccessful, climate costs could reach 3.3 % of GDP by 2050. Growth is promised to us, but in reality, isn't it uneven ? ?

Everything seems to be biased in favor of the wealthy. middle class & lower class incomes stagnate while the top 1 % receive larger shares of all income & wealth gains. The system was designed for a select few, leaving most gasping.

And Bitcoin breaks through the clutter there. Where wages lag behind inflation, housing is unattainable & inequality is on the rise, Bitcoin offers a system where regulations are written in code rather than by lobbyists. yeah im not denying  there are issues with volatility however at least it isnt made to give preference to those who are already privileged through covert means.

[Faisal2202]

And Bitcoin breaks through the clutter there. Where wages lag behind inflation, housing is unattainable & inequality is on the rise, Bitcoin offers a system where regulations are written in code rather than by lobbyists. yeah im not debying  there are issues with volatility however at least it isnt made to give preference to those who are already privileged through covert means.

The video was about Cardano's Midnight, so basically not about Bitcoin. Did you watch the video? Anyway, blockchain has many features like transparency and security, but there are many solutions to the rigged systems. The question is, do they want to make the whole system equal? They don't want that; those who make more money are making even more because they have capital.

Speaking about AI, Google, and other companies, I don't know why you mentioned the climate costs. The main point is clear, these companies are made by people who have billions. You don't have money, you can't make such a company, that's it. They are not controlling your food or your source of income (to some extent they do), or the efforts you make.

They are providing opportunities to those who have skills and are hardworking. Bitcoin is for everyone, like jobs are, but this is not a fair comparison. Bitcoin should be used for daily expenses, although we are now using it as a reserve, and there’s nothing wrong with that too.

Although blockchain has the potential to solve some problems, as I said, they could have solved them already.

[fuguebtc]

Yeah you are right it is nothing but a rigged game. when the house writes its own rules then the house will always win, lol. The situation is the same in all countries of the world, wages are falling, prices are skyrocketing, I would say nowadays the gap between the rich & the poor is much wider than the Grand Canyon, lol

And Bitcoin breaks through the clutter there. Where wages lag behind inflation, housing is unattainable & inequality is on the rise, Bitcoin offers a system where regulations are written in code rather than by lobbyists.

If it comes to Bitcoin, it is the whole bet on Bitcoin, right? I would say it is Satoshi's ultimate protest against the broken system. Satoshi's rules are the same whatever you rich or poor, his creation is like picking up your chips from a crooked table & start your own game where everyone plays using same verifiable rules. There are no backroom deals nor hidden fees everything transparent with verifiable code

yeah im not denying  there are issues with volatility

volatility ?? it is the ultimate hilarious thing to me what they use to scare people. tell me which one more Volatile to you? a 2x dump after having 2485818x pump? Or the system that could wipe out your all savings overnight with a financial crisis ? they will never let you know that, LOL

Sure, it is a volatile ride, you have to go through some crazy swings in this ride, that is the same for everyone. But when our alternative is a slow bleed in a system designed for a select few, that volatility is far less scary, isn't it?

[sunsilk]

I haven't watched the video but I understand where you're pulling this over. And it's a fact that the system is made by the victors and the rich and that's why it always favor them.

But we don't have to lean on that system anymore thanks to Bitcoin where the distribution and transfer of wealth is happening because of it. We're the prospects and based on what we have experienced, it's really breaking the typical system that we used to live on.

And volatility isn't actually an issue. It is an opportunity that's made for us. If it's not for bitcoin's volatility, I doubt it that many are going to invest on it.

[crwth]

There is always a reason why the wealthy have become wealthy; it may be because they have been in power, and that's where corruption happens, and they would be able to do what they want.

Blockchain, however, would make it transparent and would prevent possible corruptions. I just do hope that there would be talks and application about this.

Bitcoin truth will win.

[Zlantann]

And Bitcoin breaks through the clutter there. Where wages lag behind inflation, housing is unattainable & inequality is on the rise, Bitcoin offers a system where regulations are written in code rather than by lobbyists. yeah im not denying  there are issues with volatility however at least it isnt made to give preference to those who are already privileged through covert means.

The video spoke some truth about using the blockchain to promote transparency and accountability in government. When projects and financial transactions are visible for all to see, it will definitely reduce the rate of corruption in most nations. But the blockchain cannot end bribery and corruption. Corrupt politicians and corporations will always seek means to steal from the system.

Volatility also has its benefits. El Salvador has maximized the opportunity that Bitcoin offers and is gaining revenue from buying and holding Bitcoin.

But it seems the video is promoting a particular project unrelated to Bitcoin. 

[Darker45]

Not only are there volatility issues but also are "wages lag behind inflation, housing is unattainable & inequality is on the rise" addressed by Bitcoin? If you're dependent on a low wage that increases slower than inflation, how would Bitcoin help you?

It seems to me, at least as far as economic inequality, poverty, and the like are concerned, Bitcoin isn't really a great equalizer. As a matter of fact, it's still the rich and privileged few in society that can take advantage of Bitcoin more than the poor.

Blockchain, however, would make it transparent and would prevent possible corruptions. I just do hope that there would be talks and application about this.

Blockchain isn't synonymous to transparency. Blockchain doesn't prevent corruption.

[Fortify]

I have yet to experience what I consider to be a strong economy. Since 2008 shocks have continued to accumulate, inequality has become ingrained & the majority of us are merely surviving. With productivity projections slashed, bailout style spending under pressure & unemployment remaining at 4.7 %, the UK is now displaying more cracks. Real incomes continue to lag behind inflation despite wage growth of 4 to 5 %. In the meantime, Google spends £ 5 billion on data centers & AI. net- zero industries grow by 10 % , or almost £ 83 billion GVA. however if mitigation efforts are unsuccessful, climate costs could reach 3.3 % of GDP by 2050. Growth is promised to us, but in reality, isn't it uneven ? ?

Everything seems to be biased in favor of the wealthy. middle class & lower class incomes stagnate while the top 1 % receive larger shares of all income & wealth gains. The system was designed for a select few, leaving most gasping.

And Bitcoin breaks through the clutter there. Where wages lag behind inflation, housing is unattainable & inequality is on the rise, Bitcoin offers a system where regulations are written in code rather than by lobbyists. yeah im not denying  there are issues with volatility however at least it isnt made to give preference to those who are already privileged through covert means.

Bitcoin is a currency and asset. It can be bought by the mega rich and has been added to their portfolios for a long time already - unlike others they don't have a reason to ever sell it though. Just being an open and transparent ledger doesn't mean that the rich cannot abuse it or dominate it in the economic model you described - so it's not some wonder cure as you state. It's simply a tool that doesn't scale well enough to cover even a tiny fraction of the transactions that a large country will process each day, in a fast and cheap way. You need to detach these two disparate thoughts because yes the rich are taking an unfair piece of the economy, but it needs other solutions to actually fix the problem.

[Ishicryptic]

I watched the video and it's very expository, we are becoming much more aware now about how the governments and the super rich controls every systems to their selfish advantage while the ordinary citizens struggle to survive. No wonder governments and those that controls our economies didn't like Bitcoin initially but now they don't have much choice but to be accepting it. Bitcoin creation has opened our eyes to the existence of decentralization and transparency, we now have a better alternative to bypass these controls and manipulations. Bitcoin gives the holders privacy and freedom from the manipulations of central banks currencies which are prone to inflation, it is also a store of value that can make you rich on the long term. Bitcoin is classless, anybody can hold it and be profitable according to their stash

[davis196]

Isn't this yet another "Bitcoin will save us from wealth inequality!" type of forum thread? Bitcoin exists for more than 15 years. Does it reduce inequality around the world. NO. The early adopters and some investors became extremely wealthy, while the "average Joe" is still in the middle class or the working class. Thinking that the financial markets would solve inequality is simply stupid(the crypto market is a financial market).
Most western countries have progressive taxes, which are supposed to tax the rich with a higher tax rate. I find it weird that progressive taxes aren't helping for the reduction of inequality anymore.

[₿itcoin]

Isn't this yet another "Bitcoin will save us from wealth inequality!" type of forum thread? Bitcoin exists for more than 15 years. Does it reduce inequality around the world. NO. The early adopters and some investors became extremely wealthy, while the "average Joe" is still in the middle class or the working class. Thinking that the financial markets would solve inequality is simply stupid(the crypto market is a financial market).
Most western countries have progressive taxes, which are supposed to tax the rich with a higher tax rate. I find it weird that progressive taxes aren't helping for the reduction of inequality anymore.

It is natural that early adopters will be quite wealthy now but they were not very wealthy at the time, but remember that the average Joe did not revolutionize overnight. Similarly, Bitcoin will not magically eliminate our inequality unless we want it to. Bitcoin is not a charity program that will take everyone and make them wealthy, it is just a protocol designed to be fair under the code. Inflation, bailouts and privileged access can destabilize the game, whereas Bitcoin offers a fixed supply, an open system and resistance to state capture. Whereas inflation, bailouts and privileged access openly put us all at risk, Satoshi was the only person who gave us the Bitcoin system by strongly condemning fixed supply, open system and state capture, unlike fiat.

Yeah, progressive taxes could help however they are a very weak tool when money printing & lobying continue to violate the rules. And only Bitcoin has the power to reverse that, giving individuals power they never had before. So while it won't instantly level everything, it's a real lever in a corrupt system.