Can Crypto help solve the world's income inequality problem?

1 mo
LeoFinance
2 Min Read
429 words

Can Crypto help solve the world's income inequality problem?

For me, I will say "Hell yeah", Crypto's main objective when Satoshi Nakamoto created Bitcoin the first ever successful cryptocurrency in 2008 and was launched a year after, 13 years ago, was to fix the traditional or fiat currencies issue and to transfer power back to the people because the governments have been oppressing the masses or citizen for a very long time. Now the shift in power from the government to the people and the financial freedom that crypto provides are the main reasons why the power that be, talking about the Governments, Central Bank, and the International Monetary Fund (IMF) are so scared of it and are doing everything in their power to get rid of it or control it, but since the can not control it and seems not to be going anywhere, they did the next best thing which is putting fear the minds of the citizens by calling is a Scam and also placing a band on it, that's why the International Monetary Fund (IMF) are so pissed at El Salvador and the Central African Republic (CAR) for making Bitcoin legal tender in their countries.

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Fiat System Failed Us

The fiat or traditional system steals from the lower class (middle class and the poor) and creates a large wealth gap as it gets debased and the high increase in inflation is not helping matters at all, because the value of the fiat currencies is constantly reducing and the price for good and services, food, electricity, and gas are increasing by the day, Bitcoin can not be printed or hyper-inflated. So in my opinion, I do think it will help the lower class. And for the price is too volatile and expensive, we are in the best season or time to buy in or invest because of the constant dipping bear market, that has given everyone the opportunities to buy coins at a very cheap price or rate.

Buying the dip is always the best thing to do at a moment like this when the bear market keeps on dipping and it also depends on the projects you are buying, but please always remember to DYOR (Do your own research) it is very important to make you a profitable crypto trader or investor, you can also DCA to help manage the volatility of the crypto market if you are scared.

THANKS GUYS FOR READING MY POST.

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I really believe as at now, Crypto is still the best

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Me too bro.

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Yeah man

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I suspect that the income inequality with crypto will be worse than that with fiat. HBD provides a great example. Last month just 8 accounts received over half of the HBD interest. I think that the HIVE witnesses are better than most of the crypto witnesses. Somehow they are not only willing but seem eager support the stupid idea of 20% interest.

While there are a few crypto millionaires, I suspect that most retail investors will end up losing money on the enterprise.

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First of all, I don't think 20%, HBD APY is bad, and you don't compete or compare your profit with someone else's profit, just buy as much as you can, in my opinion.

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you don't compete or compare your profit with someone else's profit,

Your post is about the distribution of wealth. One of the interesting aspects of the blockchain is that it provides a mechanism for analyzing this distribution. There is a fixed number of wallets and people can study the distribution of a coin.

For example, Hive Engine Explorer provides a richlist for each token. You replied on Leo Finance. Here is the richlist for LEO

Personally, I think that people should look at the richlist for their HIVE engine tokens. The LEO richlist is relatively well distributed. This means that there is a better opportunities for the public at large to participate in LEO than say the TIX. TIX has a shallow rich list.

Analyzing the distribution of a token is different from comparing oneself to others. The distribution of a token shows how the token is being used.

Geek Girl has been publishing a richlist for HBD savings.

The list shows that HBD is top heavy.

You should be worried about HBD because HIVE guarantees the price of HBD with HIVE. Most of the HBD interest will be converted into HIVE.

If you studied monetary history, you would find that "stable coins" and pegged currencies have a long history of swamping monetary systems.

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I see your point now.

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Crypto as created more problem than solution

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If you say so but I don't see it that way though.

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