Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Bitcoin Discussion
Re: How can Bitcoin be a society changer with current distribution of wealth?
by
Elwar
on 07/01/2015, 20:21:33 UTC
Quote from: General_A on January 07, 2015, 07:25:28 PM
how could this current system of BTC change the problems associated with the existing system. ... Its fine if you don't answer or don't want to answer or don't feel its any one duties to answer and innovators should sort all the nitty gritty stuff out, but that's not going to cut it with 97% of the population out there.

So fine, if you want to just ignore obvious questions that people would have about the implementation of BTC so be it, its no hair of my back.

Quote
- Poor people are those, who pay the highest fees. With Bitcoin everybody pays the same(small) fees.
- A bank can freeze your account. If you don't have the money to pay a lawyer, there is not much you can do about it. Nobody can freeze your Bitocoin.
- A country can increase inflation by printing money. Most of the time the rich are better informed about it and they have a lot of their money in assets anyways. It's the poor, who get hit by that, not so with Bitcoin.

Quote
I live in Germany working for a US company that pays me in dollars. Thanks to bitwage.co I can get paid in bitcoins. Thanks to localbitcoins I can turn those bitcoins into euros. This conversion actually nets me more money than I am paid in dollars because of the high demand for bitcoins for cash. I like the ease of buying things online with bitcoins instead of giving all of my credit card information, making sure I use whatever address they need to match up to my credit card, make sure my credit card isn't cancelled because I used it in some foreign country without calling the credit card company.

I like that my bitcoins are not run by a central authority who needs war and violence to continue its operation. That my bitcoins are not a currency that is on the hook for over $18 trillion in debt and climbing. I like that I can go to Prague for the weekend and spend bitcoins without paying for the high conversion cost to the local currency.

Quote
There is no scenario where Bitcoin will be worth tens of trillions of dollars and the same x people control 62% (your claim) of that.   It is a self solving problem.