Hyperbtc is MORE social inequality, not less. Who do you think can afford to buy magic internet money? Who do you think is already good with money?
Discussion
Bitcoin only protects your purchasing power if you are on a bitcoin standard. Otherwise it’s the road to serfdom
Bitty is opt in just like any investing. The stock market produced record results post 2008 crisis, but if you didn’t participate (opt in) and were fudding it instead the whole time you didn’t benefit from that run. All you got was the resulting monetary inflation, so your cost of living went up. Purchasing power down. This is all connected. Bitty is just a piece of it.
The past revolutions all reset the money supplies… reappropriated (stole) assets from the rich to the poor. Now bitcoin exists and fixes that problem. This time it’s for keeps. It’s forever
I don't get this logic.
You don't think millions of people that now own Bitcoin buying stuff with the first bottom-up, free-market perfectly defined price is not going to benefit the rest of the world?
Where do you think those Bitcoin will go too?
I also don't get "Bitcoin only protects your power of purchase if you're on a Bitcoin standard". By Bitcoin existing the whole world can already be on that standard or not?
Well people can still buy bitcoin and preserve their purchasing power at the time they buy. But yes, it BTC terms they can stack less.
It will still be the haves vs have nots
Some save, some spend all they have. So is the way of the world.
Agreed, I’m just tired of all the “bitty will fix social inequality” tweets
Well it does offer a way to level the playing field, but yeah, won't fix social equality, that takes good and honest leadership of society.
It just fixes the money. Everything else is still on the individual
Yes to a degree. If we also had leadership that wanted civilisation to flourish, this would also have a massive positive impact.
Yeah idk I think that’s what family is mostly for. I am bullish on Trump tho
Well we have had gradually harder communism since 1971. (Earlier for Russia/Eastern Europe). Imagine a society without taxes, no usury for example. That sort of society would have a big impact and that needs to come from the top.
In a world without gold, gold was the most useful thing ever. Because now you could have a way to price things in a very precise way, that doesn't change. This saves a lot of time and allows truly real and efficient capital allocation, allowing for meritocracy and thus real societal evolution and growth.
That's the power of Bitcoin. It's a way to bring meritocracy to the world.
Sure, some people didn't have gold until after some other people and were at loss because of that. But they eventually got there with their work, intelligence and merit.
Because Bitcoin is so valuable, people won't give it away so easily. But they will, people like to do things. Bitcoin will flow to everyone eventually.
Any of the poors that I’ve tried to suggest bitcoin as the solution to their ills has fallen on deaf ears… those with capital & entrepreneurial mindset all did their own research & made sure to get as much as they could!