Is Bitcoin Just a Brilliant Wealth Redistribution Scheme?

Is Bitcoin Just a Brilliant Wealth Redistribution Scheme?
Bitcoin's meteoric rise is redistributing massive wealth without the use of force. Shutterstock
Valentin Schmid
Updated:

Normally, the concept of wealth redistribution involves government using force to take from some people and give to others. But the bitcoin revolution is redistributing wealth differently.

For the sake of simplicity, and to avoid confusion, we will talk about only the original bitcoin in this article and avoid the likes of cryptocurrency products such as ethereum and initial coin offerings, as well as recent duplicates of the original protocol.

Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
Related Topics