What do you think of statements like "it's a problem that bitcoiners can become a new financial elite"?
I here it more often these days.
Sometimes it looks like an attack.
Most times it feels like people just don't understand that a Bitcoin economy makes it so much harder to centralize wealth compared with the traditional system.
*hear
Per usual… Great question and Great point.
It is t a problem. It’s a solution. Anyone who thinks otherwise doesn’t understand how a sound money economy works or human nature.
Amen. I'm writing a chapter right now about how Bitcoin decentralizes everything, which means far less people who think they are god will be able to finance their delusion.
Right.
First of all, I wonder what the benefits of the old 'financial elites' were.
They became wealthy in a heavily rigged system of monetary monopoly and moneyprinting, were real estate was used as an investment vehivle injected with ever inflationary money, pricing out younger generations and making it hard for young people to establish a family.
At least a high percentage of bitcoiners are adherents of individual liberties, free markets and property rights and vehemently oppose totalitarianism, communism and fascism.
On a bitcoin standard we can expect real estate to fall in price denominated in bitcoin, allowing families to build a home and raise children.
On a bitcoin standard, wealth is earned to a higher degree than before; no moneyprinting injecting the economy with false capital allocation.
Regarding distribution of resources, that comes down to free agency, knowledge and preferences. Bitcoin is the most fair monetary system we can possibly design. Equal playing rules for all with no special privileges. That is revolutionary. Certainly those who make a living out of theft and rigging markets will hate bitcoin.
How so? I don’t believe Bitcoin will eradicate wealth inequality, but would love to hear an argument to as why you think it may?
Bitcoin will create the REAL trickle down economy from which everyone benefits.
