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RE: The ideal of "fair distribution" in cryptocurrencies (and Steem): Can it exist in real life?

in #steem9 years ago (edited)

By the way, I can't answer you there: http://steem.link/UIfJ2
So I answer here: You say that 'The wealthy 1% and owns >50% of the global wealth.', but in Steem we have situation where 1% owns >90% of all the wealth. So, world inequity seems way more healthy for me.

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Technically it's just "tokens" with fluctuating value. Fiat wealth inequality, and in particular people with "excess" / "reserve" money that they can "invest" into these tokens, is what gives these tokens value.

If you spread those tokens to all people in a uniform way, they wouldn't have the same value. There would be dumping -at any price, even 100 times lower- because most people would say "these are worthless tokens to me, I have real life needs" and there would be no investor to elevate the price, because virtually no-one would have spare cash to invest.

The difference between steem and the world, is that steem is so concentrated that its bound to get better because it can't get any worse, while the world is still in a phase of wealth consolidation into the hands of the few. In other words most participants in the world economy will get poorer next year (as wealth consolidation continues) while most participants in steem economy will get richer next year (as wealth is increasingly distributed) and it trickles-down-to-the-small-guy.