Does Bitcoin’s fixed supply cap create inequality over time?

[charrles]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

[Bastketsrus]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

That’s a fair observation. Early adopters definitely had an advantage, but Bitcoin was always open to anyone willing to take the risk back then. Equality in Bitcoin isn’t about everyone owning the same amount—it’s about everyone having the same rules and access without central control.

[Charles-Tim]

If bitcoin is scarce, you will still be able to buy $50 worth of bitcoin at anytime.

In a developing area, people that bought lands early will buy it at low price, while people that bought late when there are many buildings in the area will buy land with huge amount of money. It can get to a time that a building will be bought with land and be demolished to build new business there. In such time, land will be far more expensive.

That is how life is.

[Catenaccio]

If bitcoin is scarce, you will still be able to buy $50 worth of bitcoin at anytime.

In a developing area, people that bought lands early will buy it at low price, while people that bought late when there are many buildings in the area will buy land with huge amount of money. It can get to a time that a building will be bought with land and be demolished to build new business there. In such time, land will be far more expensive.

That is how life is.

It's not scarce as bitcoins are available in the market and you can buy bitcoins very easily. Bitcoin has value so it is wanted by many people while there are altcoins with smaller total supplies than Bitcoin total supply but who care about those altcoins. People who know that such altcoins are useless and will die, will not mind to spend money for buying those shitcoins, even if only take total supply into consideration, those shitcoins are scarcer than Bitcoin.

Total supply and scarcity are not only factors to decide Bitcoin value, then demand from the people, consequently its high price. Bitcoin has high value because of decentralization, no censorship, full control (it's your key, it's your coin), and privacy as well as anonymity somewhat. Altcoins don't have those technical specifications so they are useless and most smart people are not interested in altcoins.

[Sim_card]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

Bitcoin wasn't created to balance the poor and the rich because it's impossible for that to happen in real life. The richand the poor  will always be there. Bitcoin only gives financial freedom to her adopters against third-party standing as a middle man to run transactions for them. It's decentralized and gives you the power to be your own bank and no one can decide how you spend your bitcoin because they are clueless that you own any bitcoin. If bitcoin price reaches $1m, you will be be able to buy bitcoin for as low as $30.

[hero_the_bossman]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

Bitcoin wasn't created to balance the poor and the rich because it's impossible for that to happen in real life. The richand the poor  will always be there. Bitcoin only gives financial freedom to her adopters against third-party standing as a middle man to run transactions for them. It's decentralized and gives you the power to be your own bank and no one can decide how you spend your bitcoin because they are clueless that you own any bitcoin. If bitcoin price reaches $1m, you will be be able to buy bitcoin for as low as $30.

If we make it short, then BTC - is freedom.

Freedom to have a choice and to do things differently.

[Don Pedro Dinero]

Where is equality concept associated with bitcoin then ?

There isn't. Bitcoin is fairer because it doesn't depend on a central body that cheats you by devaluing it. But it isn't egalitarian in the modern political sense. What is somewhat equal is the opportunity you have to buy it, but in your view that those who bought early had an advantage, you forget all those who could have bought and didn't, or bought and sold at a loss, or sold after making a 5x return.

The issue is much more complex than you make it out to be. If I were you, I would buy sats just in case, instead of preparing to complain about how unfair it is that Bitcoin is so expensive, because it is going to be much more expensive in the future.

[Donneski]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

Great question Op, I love your inquisitiveness and curiosity. However,  I think the equality in Bitcoin isn’t about everyone holding the same amount, that’s very impossible in any system. Instead, it’s about giving every person the same opportunity to opt out of a system where governments devalue money at will. Whether you hold 0.01 BTC or 10 BTC, your coins can’t be diluted by someone printing more. That level playing field is the real equality Bitcoin brings.
Bitcoin might not give equal amounts to everyone but it gives equal rules and protection to everyone, that's absolute equality.

[henry_of_skalitz]

It will not be harder: it will just be not as cheap

[Marvelockg]

If we make it short, then BTC - is freedom.

Freedom to have a choice and to do things differently.

But yet, freedom is entirely different from equality. Bitcoin gives users freedom and complete access and ownership to Thier asset but such ownership does not mean that the different class of people in the society are Equal.

Anyone that's fortunate enough to acquire bitcoin in the past is just lucky and those that are acquiring it now are equally lucky. If you continue concluding that earlier investors are the ones that are more lucky that you are, you're going to miss out in the present. Ten years ago, the price of bitcoin was no where near where it stood give years back. Same is the case for three, two and even one year ago. Every opportunity we have to buy gives us an advantage over those that are not buying now. Same way earlier investors had over us.

[Dunamisx]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

This is a noob way of approach to Bitcoin, if you understand well the way it's market works, you will understand that bitcoin is for everyone and also, after the entire bitcoin has been mined completely, the volatility will always drive to its market demand and supply and with these, people will always be buying and some selling, which will equally means that everybody will always have right to buy and sell as long as it's a volatile currency.

[bitbollo]

There are many explanations about this part.
I would like the idea of "reward". Since this was and this is (still) a big bet, you need to hit a big reward.
Even, if you will be able to make a x10 in few years (lets estimate 3 halvings) this will lead again to another big rewards that would be clearly not available in other kind of investments. If you had that here "anyone" has the same kind of freedom by just choosing the network I don't see any kind of inequality, just rewards for all.
In general a system that would provide everything for all would not work in real life.

[Marvell1]

Where is equality concept associated with bitcoin then ?

Satoshi created Bitcoin solely to help us reduce our dependence on intermediaries like banks and give us complete control over our finances. He did not create Bitcoin with the intention of overcoming inequality, nor did he ever mention it in bitcoin's whitepaper.

Furthermore, there is no way to solve inequality in the world because there are many causes of inequality such as human greed, power imbalance, education...Inequality is a very complex problem and has been around for thousands of years, we cannot expect a decentralized asset like bitcoin to solve this problem. Bitcoin is just a currency, not a magic wand.

[FortuneFollower]

There are many explanations about this part.
I would like the idea of "reward". Since this was and this is (still) a big bet, you need to hit a big reward.
Even, if you will be able to make a x10 in few years (lets estimate 3 halvings) this will lead again to another big rewards that would be clearly not available in other kind of investments. If you had that here "anyone" has the same kind of freedom by just choosing the network I don't see any kind of inequality, just rewards for all.
In general a system that would provide everything for all would not work in real life.

You either believe and are proven right or you are not - go big or go home when the project is not well-known or tested with time, BTC or not.

[peter0425]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

The fact that you can still buy bitcoin even for a few fractions of it allows all of us to be all given a chance to hold bitcoin no matter where you stand in life. You can be a holder of bitcoin and acquire more gradually and eventually get more. Also the fact that there is no authority to dictate which one of us get to have bitcoin and which ones don't. Like in a bank, not everyone can open an account and hold their money there because banks have specific requirements but you can hold bitcoin in any wallet or exchange.

[henry_of_skalitz]

The fact that you can still buy bitcoin even for a few fractions of it allows all of us to be all given a chance to hold bitcoin no matter where you stand in life. You can be a holder of bitcoin and acquire more gradually and eventually get more. Also the fact that there is no authority to dictate which one of us get to have bitcoin and which ones don't. Like in a bank, not everyone can open an account and hold their money there because banks have specific requirements but you can hold bitcoin in any wallet or exchange.

Bitcoin allows you to be free of said restrictions: as long as you don't play with centralized platforms / CEXes in general. 

[Jawhead999]

Bitcoin doesn't solve inequality in financial (poor people/world hunger), I think Bitcoin is equal if we're talking in decentralization. Theoretically anyone in this world, regardless which country they live, can buy Bitcoin, despite the countries completely ban Bitcoin.

Anyway it looks unfair if you're the one who own a lot of Bitcoin, you were trying hard to understand Bitcoin despite technology isn't advanced yet and you literally "gambling" for trusting your money in asset that could turn worthless.

[sokani]

Op, I think you misunderstood the concept of equality when it comes to Bitcoin. When people say Bitcoin is open to all, it does not mean everyone would own an equal amount of Bitcoin. What it means is that everyone has equal opportunity to buy Bitcoin. So if you failed to maximize the opportunity to buy Bitcoin when it was cheaper, it is no one else's fault. Buying it expensive is the price you have to pay for being late.

[hero_the_bossman]

Op, I think you misunderstood the concept of equality when it comes to Bitcoin. When people say Bitcoin is open to all, it does not mean everyone would own an equal amount of Bitcoin. What it means is that everyone has equal opportunity to buy Bitcoin. So if you failed to maximize the opportunity to buy Bitcoin when it was cheaper, it is no one else's fault. Buying it expensive is the price you have to pay for being late.

This.

Bitcoin is for everyone - that said, you are equally obliged to buy at the price which is currently shown to you.

But you can buy at any time and hodl it for as long as your soul desires.

[Felicity_Tide]

Those who acquired bitcoin in early days got larger share in less price. Later when there are very less bitcoins left to be mined and prices are astronomically high, it will be hard to acquire even fractions of bitcoins. Where is equality concept associated with bitcoin then ?

Bitcoin is not a stable coin, and it will never be one.
Its price has increased over the last decade and still counting, so you can't expect to get the same quantity at a particular price some years back in this current era. That was why it was designed to be divisible into fractions called Sats, so its not as if we were only allowed to purchase a complete unit from day one. Its divisibility makes it visible for anyone to buy because a single unit does not retain its price after some time.

There was never an equality concept. Let's just say that it is more of a flexibility concept (not sure of what that means, but i believe it fits perfectly into the context) than an equality concept.