Post
Topic
Board Economics
Re: Will bitcoin change the distribution of wealth in the world?
by
buwaytress
on 16/05/2018, 13:04:30 UTC
Equal distribution of wealth is different from fair or just distribution of wealth. If you will sum up the precise amount of bitcoin in the world, perhaps it may not generally make a wide impact in the actual distribution of wealth in the whole world, although, because of the remarkable changes that bitcoin has done to many of its users, it eventually created a hype that makes bitcoin so popular. That popularity may unleash the full potential of bitcoin which may lead to an unpredictable result in the future towards wealth distribution.

I'm probably a socialist deep down, if I were to try and objectively rate my own leanings when it comes to social and economic issues, but even I don't think it's right to talk about equal distribution or fair distribution - yes I know, that's throwing in yet another aspect to this... equal, fair, right. All concepts that sound deceptively similar but none could be farther from the other.

Bitcoin itself may not have truly done anything to level the playing field in wealth. Just take a look online at "crypto millionaires" or "billionaires" and you see that it's really the upper middle class who've been elevated into the economic stratosphere. If anything, this has simply resulted in a widening gap in an already disparate world of "class". But it will, I hope, still find a way to bring the low-income and unbanked into opportunities to access their own financial freedoms.

This forum is quite an example of this already happening. Yes, the ugly side of it is all the spammers and cheaters on bounty programs, but take a look at the earners, bringing in income through bitcoin that they otherwise would never have been able to do outside this space. I'd like to think I'm part of that too.