this is partly relevant to the mining question also... miners have to take a risk so they are not likely to be too progressive
Discussion
Yeah, I agree. What I'm worried about is a potential situation where they can remain profitable (or even become more profitable) by cozying up with the state and making Bitcoin a custodial, non-private asset managed by Wall Street.
Crony capitalism is the Achilles heel of free markets
Yes!!! 10000x yes.
So sad that crony capitalism is what most people think of when they hear free markets.
oligarchic collectivism is what it is
based on fraud, and controlled by a small group of cooperating conspirators, and their main power source is inflationary currency monopolies
really, liberal democracy, communism and fascism are variations of methods of tricking people into accepting the idea that some are more equal than others