Bitcoin Can Be The Undoing Of Inequality
While the current system is contributing to increasing inequality, Bitcoin serves to benefit everyone equally and promote fair competition.This is an opinion editorial by Andrew Hetherington, a contributor to Bitcoin Magazine.Since the Nixon Shock of 1971, wealth inequality has soared to levels not seen in over a century. The dollar was no longer redeemable for gold but was instead backed only by faith. Without the limitations of a backed currency, those in power were given the opportunity to create as much fiat currency as they desired, with little to no consequence. Destined to lose....
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In a day where possibilities for Bitcoin investments bloom in the U.S. and its price continues to rise, the numbers from the stock market’s gains during the last year and a half mostly show an alarming increase in wealth inequality. The Robinhood’s democratization has been in style for a while now, ever since it gave […]
Undoing the Undoable. One of the many long standing truths about bitcoin is the permanent nature of all send transactions. Once you've hit send, there is no way to stop it. Right? Wrong says new start-up BITUNDO who claims that they can at least attempt to get your errant payment back to the original sender. Yes, contrary to popular belief, your mistakes might not be mistakes forever. Remember that a transaction is not technically confirmed until it is secured in a block and as part of the blockchain. Until it is secured in the blockchain and confirmed for the first time, technically no....
The world’s reserve currency relies on oil, dictators, inequality and the military-industrial complex. But a Bitcoin standard could change this.
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....
The “elephant chart.” It has been used since 2012 to explain how capitalism causes income inequality, which in turn has been a top political issue, picked apart, dramatized and demonized by social justice warriors for years. It turns out that that chart was wrong, and economists are back to square one in explaining income equality. Economist Branko....