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> Money is largely controlled by a small group of investors and central banks. [citation needed] There are an estimated 40 trillion dollars in circulation alon
by nuerow 5y ago
> Money is largely controlled by a small group of investors and central banks. [citation needed]
There are an estimated 40 trillion dollars in circulation alone. The US government debt is currently close to 30 trillion dollars.
The world's richest person has an estimated value of around 180 billion dollars, less than 1% of the US debt alone. I'm talking about projected value, not cash.
In contrast, it was already reported that a mere 100 individuals control around 13% of BTC's coins, and 1000 users control around 40%.
https://www.businessinsider.com/bitcoin-whales-the-key-facts-figures-you-need-to-know-2021-1 https://www.businessinsider.com/bitcoin-whales-the-key-facts...
- kolinko 5y agoYou need to compare the relative numbers. Bitcoin is being held by 1000x fewer people than the US dollar. If 100 people control 13% of Bitcoin, then the question is how much Dollar top 100,000 people hold.
- tonfa 5y agoBut by design Bitcoin doesn't dilute or expand through balance sheet, so in a BTC maximalist world, those 100 people still hold roughly the same fraction, right?
- yc12340 5y agoSo you are saying, that US government controls such staggering amount of money, that even it's debt (denominated in it's own currency) is several orders of magnitude bigger than total worth of the richest person in the world? And that person is also many orders of magnitude richer than a mean citizen?! Suddenly, Bitcoin does not sound so centralized in comparison...