
Cryptocurrencies Were Never Good for Anybody but the Rich - edward
https://motherboard.vice.com/en_us/article/j5a98k/cryptocurrency-investing-bitcoin-never-good-for-anybody-but-the-rich
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imustbeevil
Here's a simple proof.

Who could afford to lose $10,000 in 2005?

As with most risky investments, of course it's better for people who can
afford to risk higher amounts of money as a lower percentage of their wealth.
This is dead simple economics.

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tomtomistaken
The article basically states that rich people made a shit ton of money from
cryptos because they had the money and knowledge to invest.

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corv
Hard money is a benefit to everyone, especially those whose income is close to
their living expenses. Remember wage rises only serve to keep up with
inflation.

Now whether or not most cryptocurrencies deserve to be called sound money is
another question entirely.

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gaspoweredcat
actually its been very good to me and im dirt poor (yes if id saved even 10%
of the coins i mined id be a millionaire by now, no i have no regrets)

im just an average working joe who earns just enough to get by at best but
crypto enabled me to take holidays in places id only dreamed of, bitcoin has
made the last 8 or so years of my life vastly better and i am by no means at
all rich

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Mononokay
Nah. If you hopped in early you made, and still make, tonnes. It was amazing
for the intelligent poor.

Not to mention there are cryptocurrencies made to do genuinely cool things,
like to allow private transactions for people in authoritarian countries, make
contracts that _actually_ are guaranteed to work, and more.

