Bitcoin and Crypto global influence. Poor richer or rich richer?

in #bitcoin7 years ago

Some think that Bitcoin and other cryptocurrencies will take money from the rich and distribute to the poor. While some of the technologies being developed may indeed have this effect and be somewhat socialist in nature, (especially with automation, and AI on blockchain which is a whole different animal) what is really going to happen on large scale is a "changing of the guard".

Money and power will move from the hands of those who refuse to learn and be apart of innovation, to those who are on the front lines. This will move old stubborn money to innovative old money hands, rich to poor, poor to rich even, and several other combinations.

Governments may lose some power and control due to losing revenue from taxes and inflationary printing practices, but will likely just change their paradigm and remain in power. Corporations and banks are already catching on and the innovative ones will likely see order of magnitude increases in assets. Those who are passive (rich, poor, middle class doesn't matter) are the ones who will miss the train and see losses in current and future asset value.

Here are some articles that illustrate how real and how soon the pieces in this puzzle will be put together.

https://www.coindesk.com/ethereum-foundation-strikes-deal-russian-development-bank/

https://www.bloomberg.com/news/articles/2017-08-30/cryptocurrencies-are-new-barbarians-at-the-gate-of-central-banks

https://www.coindesk.com/russian-deputy-pm-says-supports-state-backed-cryptocurrency/

https://entethalliance.org/members/

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

https://99bitcoins.com/price-chart-history/

-CryptoRock

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Interesting thoughts.
What is to stop the government from ending fiat currency and joining the crypto movement?

They are starting to move in that direction now. Read the second and third articles. They discuss several countries that are playing with the idea. Also Estonia is considering it I believe and some countries have already moved identities to digital, and are talking about switching that over to blockchain for increased security. Illinois is looking at putting birth certificates on blockchain as well. It's happening all over.

Thanks for the upvote, follow and check out my other posts if you like :) I'll do the same :)

-CryptoRock