I consider myself very ignorant and have an honest question for all the #bitcoin savvy in the community. If bitcoin is the democratic currency, how is a crypto oligarchy avoided since the coin is in limited supply and so pricey only institutions can afford it?
Discussion
anyone can afford it. you, and 8 billion other people alive today, can go buy a fraction of a bitcoin, say 1000 sats for $1, right now
You can buy $1 worth of bitcoin; it’s broken down into fractions of a whole coin, there is not an expectation that you have to buy a whole coin. I suggest to just buy what you can afford. It’s available to everyone!
#plebchain #grownostr #bitcoin #btc
I understand that part, but since it mainly acquired via purchase using centralised currency, will it not:
1. Be amassed mostly by people who are wealthy in the conventional currency system?
2. Since it is limited in issuance by design, end up creating a bigger divide between the have and have not?
So how does this coin exactly enhance democracy?