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> Bitcoin ownership is even more concentrated than the real financial system. The concentration of Bitcoin ownership and the service that Bitcoin provides to h
by ur-whale 5y ago
> Bitcoin ownership is even more concentrated than the real financial system.
The concentration of Bitcoin ownership and the service that Bitcoin provides to humanity (please do everyone a favor and don't re-post one of the 100 lame arguments present in the thread as to why there isn't any) are completely orthogonal, especially given the fact that a Bitcoin can be divided into 10^8 pieces.
- jacknews 5y agoYour argument makes no sense. I'm not saying crypto is useless, for mainstream activity, though I personally incline toward that conclusion, awaiting proof otherwise. But I am saying it concentrates wealth, even more than the existing financial system. How does the very small tradable unit have any bearing on concentration of ownership? How does 'service to humanity' justify a concentration of wealth, which itself is a dis-service to humanity?