Post
Topic
Board Politics & Society
Merits 4 from 1 user
Re: Bitcoin will exacerbate wealth inequality
by
Bananington
on 22/06/2024, 23:30:30 UTC
⭐ Merited by AmaGold70 (4)
As rich people continue to re-invest the greater share of their income and regular people continue to be compelled to spend the greater share of their income on necessities, it won't take long until the vast majority of the 21 million coins are in the wallets of the very rich and once that happens there is no possible way to redistribute the wealth. As corrupt and incompetent as governments around the world are, the current system protects the financial welfare of regular people more than a Bitcoin based free market will.

This can't be true because Bitcoin made it possible for financial opportunities to be made available to everyone without considering our class and wealth. Bitcoin market is free therefore anybody that want to invest can buy Bitcoin from the market freely but if it was the corrupt government system.
You will have to be rich before you can get opportunity that can make you more momey. Banks are only giving loans to big businesses and rich people that do not need it but the poor man isn't giving the chance to use the money to invest in his business to make income. Bitcoin came and distributed wealth evenly, everybody can buy Bitcoin and if you hodl you are going to make profits.
Both the poor and the rich all have the same opportunity to reinvest into Bitcoin and they'll keep making money together. Bitcoin doesn't discriminate as it is opened to everybody that has an interest to invest in them.. without Bitcoin some of the rich people that have made money from Bitcoin, would not be able to make money and there isn't any hope from anywhere.