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Given that in the USA 98% of the worth is owned by 1% of the people, I'm not sure what you are thinking of when you talk about "fair". In bitcoin we long passe
by thomaszander 13y ago
Given that in the USA 98% of the worth is owned by 1% of the people, I'm not sure what you are thinking of when you talk about "fair".
In bitcoin we long passed the point where money is created. The only way to own bitcoins now is to get them from others by giving them something else in return. Dollars, or a painting etc.
I'm not sure what you mean with "money is created through debt".
- sjg007 13y agoBanks make multiple $ loans per single backing $.
- lifeisstillgood 13y agoBut not 98% of the currency. Maybe thats the part I dont understand. And 98% of wealth is owned by 1%? Globally maybe but in the US? Home ownership is very widespread - something like 80m homes, with trillions of asset value.
- dragonwriter 13y ago> Home ownership is very widespread - something like 80m homes, with trillions of asset value. Yes, and so are home mortgages, with trillions of dollars of mortgage liabilities... You can't assess the distribution of wealth by looking at asseta without looking at liabilities. That's even more true of looking at one single class of asset, that commonly is tied to a liability of a significant share of its value, when not looking even at that tied liability.