Post
Topic
Board Economics
Re: Do you think bitcoin redistributes wealth or just makes the wealthy richer?
by
Hell-raiser
on 16/01/2018, 07:25:23 UTC
No redistribution, and certainly some rich people have taken advantage of it to gain even more money.
But it is (at this time) also a good opportunity for some people who don't have much money to increase their revenue investing or earning money by working for the different projects which are developed in this economy.

In fact, that remains to be seen. Personally, I wouldn't say there is no redistribution, though I definitely agree about the rich grabbing even more riches. My point is that while the poor remain as poor as they have always been and there's no redistribution because there's basically nothing to redistribute among them, this is not quite true in respect to the wealthier parts of society. In essence, every technological breakthrough or advancement brings about new elites. But new elites can't get to the top without overthrowing the old ones. In this manner, some redistribution of wealth should necessarily happen, and the new money takes over the old money.