Bitcoin’s Obscene Wealth Disparity Is a Feature
Bitcoin promises extraordinary rewards to early adopters, should it go mainstream. The rewards are potentially far greater, for the earliest adopters, than could be achieved by starting a successful business. Nakamoto himself could end up by far richest person who has ever lived, and many others will end up in fabulous luxury just for mining on their laptops or spending miniscule amounts of money in 2009. Lots of people don’t like this prospect, often because they believe that a few individuals with extraordinary wealth is harmful to the social order. For example, Michel Bauwens of the P2P....
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As the U.S. sees wealth disparity increase due to the dollar's status as a world reserve currency, Bitcoin offers an alternative.
A look at the many ways that cryptocurrency can help to solve the problems associated with global income equality. Over the past few decades, the inequality of wealth distribution globally has become all the starker.For example, as of 2022, the top 10% of Americans hold nearly 70% of US wealth. This means that 90% of the country only takes home 30% of the wealth. South Africa is another example, with the top 10% taking home 65% of the wealth. Many citizens also lack access to general banking as well as high-class financial services (i.e., services limited to accredited investors) that are....
In 10 years Bitcoin’s finite supply will be nearly exhausted, meaning holders might only need 0.01 BTC to become filthy rich. In 10 years Bitcoin’s finite supply will be nearly exhausted, meaning holders might only need 0.01 BTC to become filthy rich.Saving 0.01 Bitcoin (BTC) might cost only $500 today but according to the current global wealth distribution and the digital asset's limited supply, 0.01 BTC just might be enough to make one a millionaire in the future.According to Credit Suisse's "Global Wealth Report 2020", there are 51.9 million individuals with a net worth surpassing $1....
Like a pack of predators in the night, bitcoin is creeping up into mainstream use from multiple different angles. From the poorest in developing countries to the top banks alike, the digital currency is being used in every stratum of humanity. Bitcoin.com explores some of the biggest use cases that could propel bitcoin to mainstream usage. Hiding Wealth....
The feature, added to alleviate fee pressure during Bitcoin’s bull market, could be live within a month's time.