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Author Topic: How Bitcoin is creating a new global elite.  (Read 44 times)
CTO114 (OP)
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Today at 05:27:59 PM
 #1

We've become accustomed to wealth being concentrated in ports, banks, oil or industrial centres. Thanks to Bitcoin we're seeing a change to that norm.

Now a random teenager in nations like Vietnam, Argentina and Lebanon can access the same monetary asset as wall street.

For about the first time, what we're witnessing is, financial inclusion not based on permission from local institutions. A borderless asset weakens the monopoly of financial dominant regions.

Are we set to see one of the most disruptive redistributions of financial opportunity in modern history?
Mahiyammahi
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Today at 05:40:01 PM
 #2

The Bitcoin may give access to anyone purchase, Owning the same assets as the billionaires are holding but isn't it just a currency? Although people are owning the same asset but the knowledge, conviction and time remain totally uneaven distributed. That's why Bitcoin would still for majority for smart people who did adapt with the flow of time and they did have everything they dreamt of , maybe not dt possible

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Today at 05:56:25 PM
 #3

Bitcoin has really break border. Back then your country determine the amount of money u can hold. But now a teen with a phone can hold source asset as a Wall Street. But the access didn’t mean automatic benefit, this real edge goes to those who can survive volatility and understand how it works. So this create total fairness not a total equality.

My  question Are we replacing old elite with a new digital one or we are moving to a level ground ?

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Today at 06:14:41 PM
 #4

We've become accustomed to wealth being concentrated in ports, banks, oil or industrial centres. Thanks to Bitcoin we're seeing a change to that norm.

Now a random teenager in nations like Vietnam, Argentina and Lebanon can access the same monetary asset as wall street.

For about the first time, what we're witnessing is, financial inclusion not based on permission from local institutions. A borderless asset weakens the monopoly of financial dominant regions.

Are we set to see one of the most disruptive redistributions of financial opportunity in modern history?
Bitcoin is open to all and can be accessed by everyone irrespective of age, race, sex, or nationality. The most beautiful part is that it has given individuals the opportunity to have access to a global asset without many barriers. However, everyone should be careful to understand that easy and free access to Bitcoin does not mean instant wealth and financial freedom for all those who can access it.

Bitcoin does not provide financial equality. Your chances of being successful with Bitcoin still depend on how well you understand it, your income level, risk tolerance, and your ability to pursue Bitcoin for the long term.

R


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Today at 06:31:20 PM
 #5

Are we set to see one of the most disruptive redistributions of financial opportunity in modern history?

Don't under estimate the power of traditional centralized financial banking system. It can incorporate as well instead of repressing any novelty which can be harmful for it.
Bitcoin is in existence since so many years and it seems the traditional system is still has its hold and not only that even using btc to gain more wealth for few individuals  Grin

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Today at 06:41:17 PM
 #6

To own Bitcoin, you need some qualifications, which are the ability to operate a smart device, knowledge about Bitcoin, trust in Bitcoin, and having the money to buy Bitcoin. Although everyone has the freedom to own Bitcoin, the ability to own Bitcoin is still limited to a certain class of people. A child is not qualified to own and transact Bitcoin, just like most adults are not qualified to own and transact Bitcoin. The reason for this is lack of knowledge or lack of money or lack of trust or lagging behind in technology.

R


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Today at 07:45:44 PM
 #7

Are we set to see one of the most disruptive redistributions of financial opportunity in modern history?
The redistribution thing is some thing of the past.  Yes we do have a few more Billionaires and many more Millionaires out of Bitcoin alone but look where the Wealth is being redistributed.  Look at Saylor.  Look at The United States.  A lot of Bitcoin changed hands from average people like you say to particularly those older global elites.

There is nothing new.  They know how to manipulate and take advantage of most of us.  They will, because it brings them more Wealth.  And other than a few more Wealthy individuals, the same people who were in oil, precious metals, real estate et cetera are going to make a crap load of money out of Bitcoin too while average people will buy high and sell low.

 
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