Post
Topic
Board Bitcoin Discussion
Re: Uncensorability of bitcoin
by
Zaguru12
on 07/05/2023, 20:43:36 UTC
Bitcoin is changing the demography of wealth, giving some people an escape route from poverty, and establishing those in the middle class that keyed into it.

Bitcoin has definitely been a good evolution to the countless problems experienced using the banks or trading with the fiat. It decentralization has given people the freedom to do what they want with their money. People do cross boarder transactions with other people in another country without the hassle of converting from one currency to another. With bitcoin people do have an asset that is a Currency, an ROI and also an hedge against inflation.

All these and more are numerous advantages of bitcoin, but bitcoin doesn’t eradicate poverty. Many people might have had the opportunity of buying at a very low price and selling at a much higher price which has increased their financial status. But bitcoin as an investment tool still needs funds for investing and these funds are from people that already have more than enough to lose. Someone in poverty will somewhat find it hard to leave of his funds on bitcoin for a longer time because it is the only way to earn high profit from not too much capital.

As for those Alticoins that people invest in with little money and see a huge return, some of these aren’t much of a difference from the Ponzi schemes you listed and as such isn’t something one needs to be happy about.