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If you read further, the point is expanded on. Said another way, consider that we move to Bitcoin tomorrow, those billionaires would control 60% of Bitcoins in
by jayd16 5y ago
If you read further, the point is expanded on. Said another way, consider that we move to Bitcoin tomorrow, those billionaires would control 60% of Bitcoins instead. And as I said, its still not equivalent to the count of those controlling the exchange of money. Its simply a red herring to show a smaller number.
- tonfa 5y agoBillionaires are wealthy but usually don't hold cash assets (or much gold for that matter), currencies are irrelevant. (In a BTC world they wouldn't hold much BTC either, if they do that'd be a pretty bad outcome since wealth would be moved to a none productive asset)