in

LSE Economist: You Don’t Want to Live in a World Where Bitcoin Succeeds – Decrypt

LSE Economist: You Don’t Want to Live in a World Where Bitcoin Succeeds – Decrypt



View Reddit by Drifter5533View Source

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

11 Comments

  1. >Danielsson argues that most people would not want to live in a society where cryptocurrency succeeds. Why? Because the big holders—or whales—will become the wealthiest people in the world, “rivaling the kings and emperors that ruled over empires in centuries past,” he said.

    Yeah, cause the saying ‘the rich get richer and the poor get poorer’ has no base in this day and age. It’s not as if we just had a global crisis where the poor took the short end of the stick and the rich somehow became wealthier than ever. Or that there’s high ranking politicians blatantly participating in insider trading and market manipulation and no one bats an eye.

  2. Oh wow, we going existential level scare tactics now. May I say there are much worse scenarios where mankind’s headed, apart from Bitcoin’s success, where you don’t want to live.

  3. tldr; An economist at the London School of Economics has said that if Bitcoin and cryptocurrencies continue to rise in price, inequality will increase. The big holders will become the wealthiest people in the world, “rivaling the kings and emperors that ruled over empires in centuries past,” he said.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  4. so it’s the *degree* of unfairness that the economist fears? From the heart of the high-church of capitalism. I can quite understand why an immutable totally transparent and trustworthy ledger system would be bothersome to many traditional economic practices

  5. Sounds like hes painting a picture of todays society. Difference being that you’re either born into wealth by inheriting huge corporations or inheriting wealth in terms of land, property etc.

    How fair is that? Anyone could mine Bitcoin back in 2009/2010. Bitcoin gave everyone the same opportunity.

  6. He says governments will try stop it but they will just have new paymasters. Right now the wealthy fiat owners control government and in future it will be the wealthy bitcoin owners.

    Personally I don’t give a fuck, a lot of my assets are in crypto and so if what he says comes to pass, I will be among the elite vs now where I am among the unwashed masses. Everyone right now has a choice to either get on board early or suffer the consequences.

Loading…

0

What do you think?

The Date Has Been Disclosed

Déjà vu: Ethereum’s First Month of CME Futures Overwhelmingly Bearish

Chuck Norris Successfully Withdraws His Bitcoins Form Mt. Gox