WHAT #BITCOIN TAUGHT ME:
#GiniIndex
Imagine a town with ten friends, each earning a different amount of money. Now, let's arrange them in order of income. The #GiniIndex is like a storyline that measures how evenly the money is distributed among these friends.
In a perfect, equal scenario, everyone would have the same income, creating a straight line. But, if one person has a lot more money than the rest, the line starts to curve, reflecting income inequality.
The #GiniIndex is ranging from 0 to 1. A Gini of 0 means perfect equality, where everyone has the same income. On the other hand, a Gini of 1 signifies extreme inequality, where one person has all the money, and others have none.
So, the Gini Index narrates the income distribution, helping us understand the fairness or inequality within the group of friends.