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That's because of entrenched monopolies.
by jjtheblunt 8y ago
That's because of entrenched monopolies.
- abecedarius 8y agoIf bitcoin's only long-term effect were to be to goose legacy money into competing better, well, that's not nothing.
- badge 8y agoBitcoin is owned by a tiny oligarch and operated by an ASIC monopoly in China called Bitmain. https://howmuch.net/articles/bitcoin-wealth-distribution https://howmuch.net/articles/bitcoin-wealth-distribution As you can see, over 95% of all bitcoins in circulation are owned by about 4% of the market. In fact, 1% of the addresses control half the entire market. There's a theory Bitfinex and Tether might have created aprox 3 billion in counterfeit USD in order to steal and launder Bitcoins and manipulate their exchange and as a result, the entire cryptocoin market. Comprehensive investigation is detailed here: https://medium.com/@bitfinexed https://medium.com/@bitfinexed