Post
Topic
Board Bitcoin Discussion
Re: Does Bitcoin increase wealth equality?
by
brainactive
on 16/08/2021, 08:39:33 UTC
The "wealthy" have already printed and accumulated trillions of dollars and nothing is stopping them from also buying bitcoin. I also believe that so many of them like Buffet have been buying bitcoin for years.
Yeah that's my point - I believe billionaires have been buying bitcoin for years. A high percentage of the elite already own bitcoin. And a lot of the middle class and accumularing too. When majority of the lower class eventually start to accumulate, the people who bought early such as the elite are going to see outsized returns compared to the lower class. This increases wealth inequality.

Note: I refer to the groups in aggregate ("elite", "middle class", "lower class") so illustrate my point. Obviously someone from lower class can purchase in 2009 and bought before someone from upper class. But my point is when we look at the groups in aggregate, the "elite" already know the current finanncial system well and are more likely to know and understand bitcoin before the lower class (again I'm talking about in aggreagate).

Note2: Title of thread is incorrect. Should read "Does Bitcoin increase wealth inequality"