Right now with fiat money 80% of the world’s wealth is in the hands of 10% of the population and 1% of if is in the hands of 50% of the population.
Aren’t you concerned that the same happens with BTC?
What would be the impact on the stability of the currency?
What would be the impact on the blockchain? nostr:note19pwtdzf02z3v07m6uy8h2qdly88wsuqy52au5fg2sgrqtpj5vcaq09yum8
No. Nothing. Nothing.
If you worry about how much money other people have, you need to grow up and focus on yourself, not take things from others. Uou are an immature child who was not raised properly. That child who used to get mad no matter how many toys his parents get him whenever he's see a child with another toy. That child needed to be raised properly and educated about the fact that his own life is in his hands and that others are not his enemy and that jealousy is sick and destructive.
My problem with fiat is that it lets some people make money for free while the rest have to work for it. THAT is a crime and a travesty that ends and I would guess it would lead to less wealth concentration, but I don't care about what others have. I just care about them not robbing me.
The key point here is everyone who wants bitcoin needs to provide value for it. With fiat some people are able to take purchasing power from others without providing any value in return (aka stealing).
If somebody provides much
value to society he deserves to own more money than others IMO, on a longer timeframe it will probably be spent or lost again anyways.
See Rockefeller for example, once provided extreme value and made a huge fortune that today is distributed again in many places.
There's a reason why most OGs don't have much corn. Bitcoin has higher social mobility than fiat.
Once you have a large enough stake in the fiat system you become elevated to a position of "miner", which allows you to print more fiat for free.
The game becomes one of using energy to get closer to someone who's allowed to mine fiat for free, rather than to solve real problems for real people.
Wealth under a Bitcoin standard will still be distributed along a pareto curve, 80% of people will have 20% of the wealth. But unlike the fiat standard, people can move from one end of the curve to the other based purely on the free market instead of neofeudalism.
Thank you G.
