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Re: How can Bitcoin be a society changer with current distribution of wealth?
we are all on equal footing with equal access to factories and land. if you are not buying your own factory right now, you have nothing to complain about.
I know you are sarcastic, anyway you can do that at any time. For the price of a pizza you can have a share in a good wealth producing company. Prioritize otherwise, take ownership in some capital, and you can spend more later.
Right now the system is somewhat rigged, and the prudent saver is basically fucked. You have to lick ass of agents the non voluntary organization called government, now, if you want to play.
That is what we are going to change with bitcoin. We are not taking away capitalists and entrepreneurs, rich heirs (and playboys and bad music and a lot of other bad things). Only the rigging of the game.
Early internet users were also looked upon as porn addicts.
Things change.
Onwards and upwards is what I say Things change.
Re: How can Bitcoin be a society changer with current distribution of wealth?
I was not responding to you.
If you don't know the benefits of Bitcoin, why are you here? Have you read the white paper?
I personally don't see how BitCoin can revolutionise the currency scene anytime soon. To me its just new monopolies with new faces, but no real fundamental change. That's not to say I don't think BitCoin is revolutionary, or something quite spectacular, as I do. But I struggle to see how BTC in this format really stand to change society for the better.
Re: How can Bitcoin be a society changer with current distribution of wealth?
The truth for fiat is that around 35% of the top 1% own all the money. 70% for the top 10%. (In the USA). Regardless of the exchanges its clear to see that distribution is actually worse for BTC. Has anyone actually read my first post?
I do understand what you are saying. But why did YOU let this happen? Many who have a lot of coins have them because they took a big risk buying early. They had no guarantee that their $5 bitcoins would not drop to $0.02. They risked more and now they have more. Sure, now that they are hundreds of dollars each everyone wants $5 bitcoins. This relationship between risk and reward exists in all markets. I wish I could go back 10 years and buy an apartment in Dubai. I didn't take that risk and it would be unfair of me to demand an apartment now. Re: How can Bitcoin be a society changer with current distribution of wealth?
Possession is not ownership. The major exchanges hold a lot of coins but those coins (legally) belong to the depositors. This can't be reflected by looking at the address distribution. Using the graph you used to illustrate a point would be like graphing where all the US dollars are and showing that 5 "people" (BofA, Citibank) have 90% of the dollars.
The truth for fiat is that around 35% of the top 1% own all the money. 70% for the top 10%. (In the USA). Regardless of the exchanges its clear to see that distribution is actually worse for BTC. Has anyone actually read my first post?What I like the most about your numbers are that that large percentage of bitcoin holders were here early on. They actually took the risks because they believed in Bitcoin and what it stands for.
The people who want to bring in regulations and redistribution belong to the small percentage. The longer that is true, the better. You really should try freicoin...that sounds like a better currency for you.
Just because I am talking about bitcoin benefiting mankind does not mean I am calling for regulation. Again putting words in my mouth is not actually appreciated one bit. I understand that its a topic you feel strongly about, but could you try approaching the subject in a non-arrogant, non-judgmental way
. TaRe: How can Bitcoin be a society changer with current distribution of wealth?
Possession is not ownership. The major exchanges hold a lot of coins but those coins (legally) belong to the depositors. This can't be reflected by looking at the address distribution. Using the graph you used to illustrate a point would be like graphing where all the US dollars are and showing that 5 "people" (BofA, Citibank) have 90% of the dollars.
The truth for fiat is that around 35% of the top 1% own all the money. 70% for the top 10%. (In the USA). Regardless of the exchanges its clear to see that distribution is actually worse for BTC. Has anyone actually read my first post or have they just read wealth distribution and already made their minds up?
.Re: How can Bitcoin be a society changer with current distribution of wealth?
The distribution of bitcoins is not relevant to the distribution of wealth.
Bitcoins are not the same as wealth. Do you think it is unfair that only 0.5% of the people in the world own 100% of the Albanian leks? Think of all those unfortunate Americans that own no leks at all.
The distribution of bitcoins is insignificant compared to the distribution of wealth.
If you distributed all 21 million bitcoins evenly to every person on the planet, then each person would have about 3 mBTC, or about $1 USD worth. Do you think giving $1 to each person in the world will make any difference at all to anyone?
Yes but if BitCoin was to get as big as some people want then they would be a reflection of wealth - period. Bitcoins are not the same as wealth. Do you think it is unfair that only 0.5% of the people in the world own 100% of the Albanian leks? Think of all those unfortunate Americans that own no leks at all.
The distribution of bitcoins is insignificant compared to the distribution of wealth.
If you distributed all 21 million bitcoins evenly to every person on the planet, then each person would have about 3 mBTC, or about $1 USD worth. Do you think giving $1 to each person in the world will make any difference at all to anyone?
Re: How can Bitcoin be a society changer with current distribution of wealth?
If we would give 1 Bitcoin to every person on earth, it would look the same in a year.
Most people would just sell it and a few people would see the potential and buy everything up, they can get.
Some people in here, know that I am a socialist. I don't believe in a completely free market. But even I, think you are delusional.
This is not what I am saying. I am not socialist. I am saying how is the general population supposed to buy into a system where the odds are stacked up against them? Most people would just sell it and a few people would see the potential and buy everything up, they can get.
Some people in here, know that I am a socialist. I don't believe in a completely free market. But even I, think you are delusional.
Re: How can Bitcoin be a society changer with current distribution of wealth?
I would like to be a champion of equality in terms of wealth distribution but sadly there is no such thing in this world. The world that we live in, in reality rewards those that seek opportunities, took the risk, be early adopters, smart, innovative and like it or not that is how it goes. Nevertheless, rather than trying to focus on wealth distribution just concentrate on the technology and innovation and how we can use bitcoin to our advantage.
Is this honestly how we are going to sell BTC to society? People are looking for real change. Re: How can Bitcoin be a society changer with current distribution of wealth?
You had equal access to Bitcoins in 2009 as everyone who mined them. You have equal access to bitcoins right now at such a low price.
Or is it still too risky? Those that take the greatest risks gain the greatest rewards. Kudos to those who took risks in this realm.
You should be looking to the people with guns if you want wealth redistributed.
Are you buying right now? When 1 Bitcoin is enough to run a nation's economy will you be upset about people holding 10?
For example: lets presume you are correct and one BTC could run an entire economy. Then how could BTC be a better system with just 15,000 people owning 8,793,200 BTC. How is this going to improve society?
Re: How can Bitcoin be a society changer with current distribution of wealth?
https://c2.staticflickr.com/6/5083/5371631857_303a5779fb.jpg
Only guns and violence can distribute wealth equally, a currency does not choose winners and losers.
Want to distribute wealth equally? Buy now while the price is low. Give it away when you are rich.
Or maybe we can start with a system where everyone has an equal share, then whoever comes out on top obviously did so on personal merit, grit and determination. 
Only guns and violence can distribute wealth equally, a currency does not choose winners and losers.
Want to distribute wealth equally? Buy now while the price is low. Give it away when you are rich.
Re: How can Bitcoin be a society changer with current distribution of wealth?
I am surprised this has got less attention.
We get some socialist on here about once a month bringing up their insanity. For them I say...Bitcoin is not for you. Stick with your notes.
http://media.coindesk.com/2014/02/Screen-Shot-2014-02-14-at-2.38.44-PM.png
At 100-1000 the number of wallets stands at 15,356 and a combined wealth of 67.64%. Here the wealth is held by 0.93%. < The top 1%. Now below I have inserted a table from Thomas Pickety: Capital for the 21 century, which has rough Wealth Distributions across the globe. This data is not perfectly accurate but gives you a rough idea.
Call modern day social systems what you want, and even at those quite frankly shocking levels of parity, there is still a much more fair distribution of wealth from 'capitialism' than from Bitcoin (35% at the top 1% vs 67.64% for BTC).
Call modern day social systems what you want, and even at those quite frankly shocking levels of parity, there is still a much more fair distribution of wealth from 'capitialism' than from Bitcoin (35% at the top 1% vs 67.64% for BTC).
How can you buy into a system where you know the cards are stacked against you? Not to say they're not in the current system. But in BTC their is more wealth inequality then societies with a monarch. How is this system going to help society advance?
Re: How can Bitcoin be a society changer with current distribution of wealth?
I am surprised this has got less attention. I have never thought of any of this before. I think for cryptocurrencys to be a game changer than wealth distribution does need to be addressed.
Re: What aspects should be covered in a "2014 Altcoin Summary"
Since cryptocurrency is an investment for a lot of people, there should be rate of return for the various currencies. I would include both a 1 year rate and a 6 month rate (to see how the newer coins are faring).
People are judging the value of their btc against the dollar in one breath and calling the dollar dead in the next, what a joke !
at some point, you won't need to convert to dollar to buy everything you need with cryptos
Wow, some people don't invest but they gamble..
Why did you guys put your money in this (shit)coins?
Because ultimately I made more money than I lost, I wouldn't touch this market at the moment though. I like my capital too much.Why did you guys put your money in this (shit)coins?
Rather than debate is it a scam or not (Sure this is covered in other threads) please can we have some reasoned debate as to how much Josh has actually made so far in dollars.
A) 10k
B) 50K
c) 100K
D) 500K
E) 1 Mill
F) 5 mill
G) 10 Mill
H) 50 Mill
At this point it would all be pure speculationA) 10k
B) 50K
c) 100K
D) 500K
E) 1 Mill
F) 5 mill
G) 10 Mill
H) 50 Mill
Re: To novices and newbies getting involved with pump and dump groups....
you don't join pump-groups. Especially not as a newbe. Let this be a warning.
You're just the small fish swimming at the mouth of the sharks.
You would be more successful with ones of these:You're just the small fish swimming at the mouth of the sharks.
http://www.garabatocine.com/wp-content/uploads/2014/04/SimpleBizz-Theme-with-PLR-Review.jpg
You're a little late asking this since Gox. Most of the people that lost a lot are gone. But due to security issues I lost about 200 BTC.
200 BTC is quite a fair sum. What security issues caused the loss?