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Aren't there a small group of people who essentially control all of Bitcoin with no oversight? There might be a group of 30 very wealthy early adopters, miners,
by 07d046 10y ago
Aren't there a small group of people who essentially control all of Bitcoin with no oversight? There might be a group of 30 very wealthy early adopters, miners, main developers, people who own the communication channels, and other influencers, who have 90% of the influence in what happens with Bitcoin. Real currencies can't boast to being that centralised.
- VMG 10y agoTheir wealth depends on bitcoin keeping the properties it currently has. For instance they could try to merge a code change that doubles the balances for early adopters, but it would immediately destroy their wealth because people would stop using the currency.
- solotronics 10y agoI agree with this, game theory shows they have everything to gain by protecting and fostering Bitcoin development.