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by nnash 3114 days ago
Considering the difficulty involved in even buying bitcoin I'd have to say no. If you want to make a sizeable investment you need to hand over large amounts of personal data to an exchange. I'm talking the works; routing number, passport, proof of residency etc. I should be able to simply walk to a BTC ATM put cash in and add it to a wallet on my phone (perhaps you can in some places?). Additionally, exchanges like Coinbase are required to report any transaction over 20,000USD to the IRS. Fiat cash is much less of a PITA.
1 comments

Or just pay more to move your money into a country that doesn't care about such things, then buy it truly anonymously.

Or mine it if you have access to cheap electricity and can afford the equipment to be near the top in hashing speed.

In either case, you can see how Bitcoin wealth is biased to people with lots of fiat to begin with. I question if there could be any new currency that would not suffer the same inequality.