Bitcoin is cool, but it doesn’t stop billionaires from hoarding all the wealth, it doesn’t stop the problems we’re facing with wealth inequality.
Discussion
You are right, but it wasn’t created to do that
bitcoin doesnt fix wealth inequality but it at least unfucks the bad incentives of the system that produced the insanely severe wealth inequality that we have now
I’m not convinced Bitcoin actually changes the incentives enough to address the root problem. Even with Bitcoin, we still see wealth being concentrated; early adopters and big players hold most of it, which looks a lot like what we have now. Unless the system actively prevents hoarding and encourages wider distribution, simply switching currencies doesn’t necessarily “unfuck” the incentives or solve inequality. The technology is interesting, but the social and economic outcomes depend on more than just the underlying code.