1/ Many of us have enjoyed a windfall from cryptocurrency's massive boom. We should pat ourselves on the back for our foresight, but also remember that most of us were lucky and we should look to give back.
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2/ Most cryptocurrency adopters are middle or upper class, well educated, in the developed world, and usually in urban areas. This isn't a coincidence. It was far less likely that a laborer in rural India had even heard the word "Bitcoin" pre-2017.
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Replying to @AriDavidPaul
Hugo Nguyen Retweeted Hugo Nguyen
Hyperbitcoinization would cause a massive redistribution of wealth across the globe. Would it be "fairer" than the current system with old money? Idk, new technology tends to favor the rich, even if it started out with high ideals & better distribution.https://twitter.com/hugohanoi/status/936492330118299648 …
Hugo Nguyen added,
Hugo Nguyen @hugohanoiWas talking to my mom about how BTC turned thousands of people millionaires overnight, at a greater degree than any tech IPOs in history Google Facebook included, and she said: “Bitcoin sounds like a re-distribution of wealth, recreating world order.”
#shegetsit#paradigmshift1 reply 1 retweet 0 likes -
Replying to @hugohanoi @AriDavidPaul
The one thing we have going with Bitcoin is that governments & banks have an inherent bias against it, as it directly threatens their legitimacy. So they would be the last to adopt it- whereas with other technologies they would always be the first.
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Replying to @hugohanoi
Yes, but while the institutions themselves aren't adopting, individuals are. Plenty of government officials and bankers own Bitcoin.
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True, so final distribution might not necessarily be any better than what we have today...
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