Money concentration nearly eliminates the distributory effect. One bitcoiner with 500k Bitcoin doesn't need 500k shoes.
Discussion
Money moves primarily in the lower and middle classes.
The wealthy tend to horde wealth and then spend it on strategic purchases, designed to preserve their overall wealth. They don't lose wealth, by spending it, they only lose money.
And use debt for day to day spending. It’s cheaper that way.
They wouldn't be able to do debt-based spending with Bitcoin, at least, not like they do today.
But they could simply spend at a rate slightly-less than deflation and have a rise in purchasing power despite a nominal loss.
They would have a growing share of a shrinking pie, in other words, if they play their cards right.
Try your hardest to explain any comment made in this discussion to a typical everyday person. They won't comprehend a single sentence. People really don't seem to understand that many wealthy individuals and families really only have one giant line of credit 🤷♂️. It's up to the individual to figure out methods of wealth preservation.
nostr:npub1hv64t0jlg94p0tpq6zc8mrc5kyfhzwwn8fxp6m45jwdn9pmfs53q0yrjjm that just isn't true. At least, not as often as you would believe. Wealthy people do not always have to work hard to generate more wealth. Lol. It can actually be rather easy.
It is not always true. Some will stumble upon it by sheer luck. Or through inheritance, stealing. But most Bitcoiners worked for it I say. It is possible that some wealthy trust fund kids would have rode the way by putting their money into Bitcoin.
No but that Bitcoiner will need:
1. Health
2. Private jets
3. Freedom of speech (ahahah)
4. Space tours
5. Mega yachts
6. Mars bases
Elon Musk is the best example of how much a smart wealthy person can help our humanity. He has created employment for thousands of highly gifted individuals. He helps us fight climate change. He put a bandage on freedom of speech by buying Twitter. He is funding neuralink, space exploration, safe cars, etc.
That is the best use of wealth in my opinion.
Elon Musk is a complete departure from the norm.
But there are many people like him.
You are underestimating who we are up against. The US govt, if you consider it as a company, is worth 100s of trillions. Elon is nothing in front of the US cabal. He is nothing in front of Putin or the Saudi Crown prince.
We need more money at the top to solve these problems. Without money we can't do anything. And a solution to these problems that requires investment will probably make Elon like figures wealthier for solving such big problems.
And he took billions of dollars to do what he does.
Unicorn companies you know?
Everyone can make a unicorn company when gets billions of dollars from some government...
Those are not grants. The govt is paying for those services. I don't see anything wrong here ahaha