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> As long as a third party central authority controls our money system, we will always be subject to the whims of the few. Bitcoin is helping to liberate us and

> As long as a third party central authority controls our money system, we will always be subject to the whims of the few. Bitcoin is helping to liberate us and it’s absolutely working. A bold claim without evidence. In fact, the opposite may be true [1]. This is but one counterpoint; another notable problem is the centralization of bitcoin mining in China [2]. [1]: https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market https://www.bloomberg.com/news/articles/2017-12-08/the-bitco... [2]: https://thebitcoinnews.com/study-argues-chinese-mining-centralization-poses-threat-to-bitcoin-network/ https://thebitcoinnews.com/study-argues-chinese-mining-centr...

rasengan 6y ago
> A bold claim without evidence. In fact, the opposite may be true [1]. > [1]: https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market https://www.bloomberg.com/news/articles/2017-12-08/the-bitco... The same can be said about any money system in a capitalist economy (e.g., 1% owns 40% of the wealth in the US [1.1]). > This is but one counterpoint; another notable problem is the centralization of bitcoin mining in China [2]. I'm not sure this is 'looming' today as the article boldly claims, but centralization is definitely a risk. It's important for everyone to participate in the system as they can for a more equal distribution of ownership - akin to how one should exercise their vote in US elections. [1.1] https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States https://en.wikipedia.org/wiki/Wealth_inequality_in_the_Unite...