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Except that participants unknowingly create the most unjust distribution of wealth the world has ever seen. If Bitcoin really becomes the money of the world, la
by singularity2001 5y ago
Except that participants unknowingly create the most unjust distribution of wealth the world has ever seen. If Bitcoin really becomes the money of the world, late entrants might have to pay millions per coin (or fractions of cause) whereas early entrants only had to pay cents. We make people billionaires who contributed nothing to society.
- jacquesm 5y agoThis goes just the same for any 'old money' and landowner group. Late entrants: those born to people not of means today are starting with a huge handicap. And the old money and landowner classes contributed nothing to society, they just inherited their wealth on account of the birth lottery.
- xiphias2 5y agoI don't see anything unfair with this. I tell my friends that they can either buy BTC for $60k now or for millions per BTC later, and they choose not to act, although I'm happily providing all the knowledge and resources to understand it. They prefer to own something that they can see and feel, and I respect it.
- kobasa 5y agoEverybody buys BTC at the price they deserve. If you wanna wait 10 years for it to get 'safe' and 'adopted' then you pay for the people who have taken the risk and contributed to its survival and growth.