Quote from: 1Referee on January 20, 2020, 09:54:43 PM

I always laugh at articles like these. Not because the wealth inequality, but because people don't understand what the actual problem is, and that crypto will never make a difference. In fact, crypto wealth inequality is far worse than fiat wealth inequality. By the time the poor acknowledge the value of Bitcoin, most of the upside potential is already jammed in the price.

That's blasphemy!
I mean, yeah it's true that, for example, the Winklevoss hold 1% of all the coins while Jeff Bezos only holds 0.05% of the assume wealth and unlike the 1% of the population holding half of the wealth 0.06% hold 2/3 of all the coins, but.. but ...but... Grin

I don't know what's with bitcoin that triggers a wave of socialism and makes people think that it will be some kind of wealth redistribution and the rich will be burned at stake, in reality they will just get richer, nothing will change.

Quote from: d.kevin29 on January 21, 2020, 12:16:45 PM

My mistake. English is not my primary language so I might've used the wrong words that confused you. When I talk about economic problems I'm talking about how Bitcoin can solve today's problems by replacing our inflated currencies with one that cannot be printed with a click. Taking a look at countries in very harsh situations such as Venezuela, this inflation could easily turn a whole nation's net worth from 100 to 0 in the snap of a finger.

And what will bitcoin solve that a more stable currency won't?
You're thinking of personal finances that can be solved with an investment compared to macroeconomics.

Do you think the economy of Venezuela will be saved once they will turn to bitcoin? No, it will be a prolonged disaster, they will run into the same problems Greece was facing because they were using the euro. Venezuelans will be forced to pay for things in an ever-increasing currency in terms of $ while their production stays the same. It will be like overinflating your own currency and take a look at how every country in this world is afraid of it, from the US to China to Switzerland.
Unfortunately for countries facing economic crisis bitcoin is like adding poison, the ones that can take advantage of it are countries with very stable economies that don't primarily rely on either exports or tourism.

Quote from: audaciousbeing on January 22, 2020, 02:09:16 PM

Its actually something that have been in place since time immemorial.

And from time immemorial people have tried to redistribute wealth ending with the rich getting a bit poorer, the middle class wiped out and the poor on the deathbed. Witnessed myself one of those, don't really a fan of it.