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> the top 10,000 individual Bitcoin investors control roughly one third of the cryptocurrency in circulation. The relevant comparison here is to other currenci
by ceilingcorner 5y ago
> the top 10,000 individual Bitcoin investors control roughly one third of the cryptocurrency in circulation.
The relevant comparison here is to other currencies, not to organizations in general, and to the ability and incentive of these controllers to influence the trajectory of the currency.
Two points:
1. 10,000 people controlling 33% is dramatically less control and centralization than the Federal Reserve, which ultimately has about 10 powerful people.
2. These 10,000 people have very little ability and even less incentive to affect the price of Bitcoin. Again, unlike the Fed, which can print money at will and increase inflation.
- neaanopri 5y agoThe federal reserve exists at the pleasure of Congress, and Congress can abolish the fed if it chooses to.
- goldenkey 5y agoSomething something JFK's head blown off.
- rglover 5y agoYou have a lot to learn. https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/091298645X https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserv...
- matteotom 5y agoIt would be more helpful if you could actually state an opinion or viewpoint rather than linking to a whole book (which, unless I'm missing it, doesn't even have a description).
- ur-whale 5y ago> The federal reserve exists at the pleasure of Congress That's the theory. In practice, there's always this aspect to consider (attributed to a Rothschild familly member in the 19th century): "Permit me to issue and control the money of a nation, and I care not who makes its laws"