aka they can only manipulate the FIAT price
if we turn the cheek on fiat, that shouldnt matter.
Discussion
Right, but you still have 25% of the commodity owned by a small handful of people.
They’ll be defacto kings once BTC reaches 100’s of millions in value.
That’s fairly centralized.
that literally doesnt have anything to do with (de)centralization of the network
and what do you mean with kings? what is it they will be able to do better now (both locally and globally) with that BTC (both in case fiat still exists and in case fiat has hyperinflated severly?
They’ll be trillionaires.
Easy to understand.
alright then😅
Many of those accounts are custodians that hold bitcoin for a large number of people.
But yes, just like with other forms of wealth, bitcoin wealth is concentrated. Over time, these bitcoins will be spent because people eventually die and want to enjoy their assets before death.
It’s like the Vanderbilts and Astors from the 1800s. They were some of the richest families in the world but now the majority of their wealth is gone, dissipated by the generations over the years.
Is it gone?
Rockefellers. Cough.
No, you’re right, but apparently they’re down too. From $600 billion equivalent to $11 billion today.
No, I don’t fully believe those numbers but they do seem to be the exception to the rule. No doubt being fiat banksters helped them keep the wealth.
Was it that family that had siblings marry to reduce the number of heirs? I can’t remember.