For long the banks have ruled organisations and organisations and businesses the Government.
So to say that the banks have had their monopoly for far too long now. The cats out in the open and every one can see the skeletons in their closet.
Do you think that the Bitcoin revolution will server as the great equalizer?
Is the Crypto revolution revolution going to bridge the gap between the poor and the rich; the market and the consumer?
Let me know what you think..
It is not an equaliser. It just redistributed wealth. Early adopters are the nouveau rich. But nobody is going to get out of poverty because of Bitcoin or blockchain technology.
You are generally correct on the first part of your comment, that we are witnessing some redistribution of wealth to those who hold bitcoin and/or invest in bitcoin - however, this redistribution is not all or nothing because rich people can also choose to invest their shitty and abundant fiat into bitcoin, yet if they do not have confidence in bitcoin, then they will have to jump on board when the train is further down the track. Furthermore, there are ups and downs in this volatile market, so the poor are only going to benefit from this redistribution if they do not get shook out by the volatility and the FUD.. so they gotta continue to invest and accumulate at whatever ability that they have, even if it is only $5 per week....
So the last part of your statement is both right and wrong. It is wrong because it is framed as an absolute and it is right because people are not going to get out of poverty unless they are strategic about what little resources that they have and if they are able to identify investing in bitcoin now and into the near-term future.. and to muster up even small amounts of money to invest in bitcoin... If they dedicate no money to bitcoin, then any benefit that they might get from bitcoin/blockchain may be a lot more indirect - by the disruption of the total system that possibly provides them some decentralized avenues (will take some time to play out).
Thank you for the comment: Really appreciate you sharing your perspective .. I wonder sometimes because of the push and pull that the industry experiences (industry=cryptosphere),I mean w.r.t. the governments and banks (the current powerhouses of our society/world) being pessimistic about it, if we will actually revolutionize the world/economics... Don't get me wrong but they are right in certain aspects (too much fraudsters lurking around) but then again that's true in the fiat world as well.. Governments should focus on curbing the wrong doers and not the system, like in the case with fiat or banking..
Banks are super scared because they would get hit the hardest unless they have some innovative way of evolving.. This leads me to think maybe the banks bought the coins and short sold them short to cause panic and they will do this again.. So if more and more individuals participate and believe in the value of a decentralized system the banks would have less control..