MultiversX Tracker is Live!

Devils advocate: Bitcoin end game and widened wealth inequality

Bitcoin Reddit

More / Bitcoin Reddit 11 Views

Look I’m a bitcoin advocate. I think it’s a great tool to save money and negate the loss of dollar purchasing power. It’s the S&P500 on steroids, where the biggest holders will continue to generate insane amounts of wealth , borrow against it while the rest scramble for crumbs or are forced to sell to pay for living expenses. I’m happy to be in on it, happy for those here avoiding loss of purchase power, just concerned for the general concept of a sped up wealth gap generator and its effects on society long term. Bitcoin and the stock market are a scary indicator that the western world economic dominance is facing a problem, which owning some shares/coins will help mitigate, but it’s worrisome to think what it means in a macroeconomic environment.

The death of efficient wealth redistribution by governments which are no longer capable of doing so continues to drive a gap between the haves and have nots. I’m worried bitcoin will just be abused as a way to further that gap (see MSTR money printing/bitcoin buying hack). What’s the end game look like for the 90%?

submitted by /u/MJA182
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments