It's inherently classist. Only those with access to moderately high levels of technology can spend or receive it. Only those with access to exceedingly high levels of technology can "mine" it. Heterosexual, middle class or higher white males are disproportionally represented in the demographics of bitcoin users. Bitcoin only serves to uphold the current kyriarchal socioeconomic structures by making sure the privileged become more privileged.
And it's a terrible idea. You spend more on your parents' electricity bill and replacing burnt out GPUs that your parents buy for christmas and birthdays than you actually theoretically make.
Bitcoins are basically just this weird attempt by lolbertarian children to make their own currency and play stock market and dodge taxes.
And it's a terrible idea. You spend more on your parents' electricity bill and replacing burnt out GPUs that your parents buy for christmas and birthdays than you actually theoretically make.
Bitcoins are basically just this weird attempt by lolbertarian children to make their own currency and play stock market and dodge taxes.
Yes, because China, who is currently moving most of the money, are all middle class or higher white males and fit your general stereotype perfectly
This comment doesn't even deserve a proper response.
White people are 8% of the world population. White males are about half of that. So either prove less than 4% of bitcoin users are white males or admit you're full of BS.
What is your point? There's absolutely nothing stopping any other races from getting involved in bitcoin.
You sound like the guy always looking to blame someone else. Look! Bitcoin is owned by white people. Rich whitey always keeping us down!
Bitcoins makes sure the rich get richer and the poor stays poor. It's deflationary and rewards hoarders. Those who can afford to hoard them get richer and the poor stays poor.
I still fail to see your argument. Bitcoin is so far deflationary, so rich or poor everyone who bought in makes money. No bias, equal percentages across the board.
Now with the US dollar you can buy and manipulate the system if you have lots of money so inflation does not bother you. The poor people don't have this advantage, so in reality you should be more pissed about fiat USD being unfair to the poor.
Or you could quit complaining about being poor and do something about it, takes work though.