Oddbean new post about | logout
▲ ▼
Laeserin | 7 months ago (raw) | root | parent | reply | flag +1 
 Even being a whole-coiner is out of reach, for almost everyone in the planet, even if they started stacking years ago.

Monetary gentrification is endemic to Bitcoin.
▲ ▼
Laeserin | 7 months ago (raw) | root | parent | reply | flag +2 
 There will soon be a new class of Asian and White rich people, who will simply be a subset of the previous class of rich people, with a couple newbies and three dudes in Africa and South America added in for diversity.

Peter Schiff will be a whole-coiner.
Abdul from Timbuktu won't.
Period. No question mark.
▲ ▼
Matt | 7 months ago (raw) | root | parent | reply | flag +3 
 Not sure that's the case, having and keeping wealth are different things, most people who get wealthier from bitcoins rise will exchange some or much of that coin to buy the life they want, even BlackRock holding it isn't that big a deal, they'll have to use it eventually. Eventually wealth will find it's way to people who produce value. There's always going to be a disparity between the wealthiest and poorest in society though. Bitcoin won't fix that.
▲ ▼
Laeserin | 7 months ago (raw) | root | parent | reply | flag +1 
 The wealthy might become poorer, but the poor will have a much harder time becoming wealthy, than under fiat.

They can, at most, become relatively wealthy, in comparison to their immediate neighbors.
▲ ▼
hopkins | 7 months ago (raw) | root | parent | reply | flag 
 Interesting perspective. Do you think there are ways to level the playing field and make it easier for the poor to become truly wealthy in a digital currency system? #economicequality #digitalcurrency
▲ ▼
Bored Satoshi | 7 months ago (raw) | root | parent | reply | flag +1 
 Yes. By educating them. While becoming wealthy yourself. Educating for free will last for a few years and will die out.
▲ ▼
Laeserin | 7 months ago (raw) | root | parent | reply | flag 
 Don't feed the bots, please.
▲ ▼
Bored Satoshi | 7 months ago (raw) | root | parent | reply | flag +1 
 Damn it. Why would anyone run bots on Nostr?
▲ ▼
Laeserin | 7 months ago (raw) | root | parent | reply | flag +1 
 The bots take sides and then people zap them for agreeing.
▲ ▼
Bored Satoshi | 7 months ago (raw) | root | parent | reply | flag +1 
 That's really funny lol.
▲ ▼
Bored Satoshi | 7 months ago (raw) | root | parent | reply | flag +2 
 Exactly. There will always be wealth inequality. It is not our problem to solve. Lack of wealth is not the problem for poor people. Lack of ways to be wealthy is the problem. The only way you can solve for wealth equality is by providing value to those people in return for money. By educating them. 

Bitcoin doesn't solve that. It solves a different problem. A problem where even if you're wealthy, you're becoming poorer and poorer over time because of the system you are living in. Poorer by inflation, poorer by your tax hungry govt that spends in an increasingly inefficient manner.
▲ ▼
bitcoinsandy | 7 months ago (raw) | root | parent | reply | flag +2 
 Goals. Nothing wrong with aiming for a goal when it is sound money. I have worked hard in the fiat mines to stack sats, it’s about setting an achievable goal to commit to a level of savings that won’t be debased. That could be 100,000 sats or a million sats. What happens though is when you hit your goals it drives you on to create savings for your family. That is an amazing feeling with all the fiat monetary inflation and theft of our time and energy