Quote from: mk4 on Today at 07:33:00 AM

Lol a lot of people are looking for things and people to blame for their financial "inequality", even though what they mostly do on their free time is to be on Facebook and watch YouTube or Netflix all night whereas the future wealthy minority are actually working on stuff to get out of the shithole that they're in. Lazy people are just looking for an easy way out.

For better or worse, inequality is a natural state of affairs, it is an integral part of any society, so neither Bitcoin nor anything else could fix it. That is true. Nevertheless, history makes it evident that the monetary system under which people live usually affects economic inequality, it can increase or decrease it. The graph below clearly shows us that inequality has only been increasing since we went off the gold standard:

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The graph shows that economic inequality declined in the US from 1917 to the early 1970s when Nixon took America off of the gold standard. The shaded areas of the graph represent the 99 percent, while the lightest colored area at the top represent the upper 1 percent. Economic inequality increased during the inflationary 1920s, but the lower income classes rapidly improved versus the 1 percent when the gold standard was restored after WWII. The graph shows both marginal improvement and stability in economic inequality from the late 1940s to the early 1970s. The trend has been for greater economic inequality ever since.

Source: https://mises.org/library/gold-and-economic-inequality

If we return to deflationary monetary system, but this time based on bitcoin not gold, it could affect the level of inequality in a positive way. People that were wasting their time watching YouTube will now have an incentive to lower their time preference and work hard in order to acquire valuable and scarce bitcoin. The harder they work, the more services they offer, the less unequal they will be.