society has high time prefence, per nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak due to inflation, which drives the endless unnecessary consumption, but that’s a separate issue IMO from billionaires existing. And I’m not sure how wealth is “hoarded” because if you store your wealth in bitcoin for later use to build the next Notre Dame, surely that massive amount of purchasing power was put to good use when the vision for the project occurred to you and without which the next Notre Dame would not be possible.

Billionaires are just people who get to decide how to allocate resources at greater scale. A regular person gets to decide where to eat lunch, what kind of phone to buy, but a billionaire can allocate to build a rocket if he chooses. I don’t think “hoarding” comes into it, so long as your gains are not ill-gotten.

I do think bitcoin will level the playing field clawback, so to speak, a lot of the Cantillionaire fiat that is ill-gotten by devaluing it. In a way, it’s reverse Cantillonism, wherein the closer you are to the money printer, the more of your relative wealth gets devalued.