2% of addresses control roughly 92% of Bitcoin.
That's what a financial oligarchy looks like.
That's what a financial oligarchy looks like.
Comments
1. A semi-ironic sociocultural condition characterized by an uncontrollable compulsion to assign neat, often unnecessary, labels to people, places, feelings.
2. A system or mindset in which categorization is not just a tool, but a sacred lifestyle.
I was too busy being triggered by the fact that bitcoin is neither. It differs from fiat in that wealth concentration doesn't confer control of any kind. Plutocracy in bitcoin isn't a thing.
Thanks for clarifying tho, I didn't know that
Furthermore, even if you assume any wallet with > than 10k btc balance is a CEX, that’s only 18.5% of total btc overall.
But the game wasn’t rigged.
That’s a rare thing in finance.
Work and Energy that our civilization literally *cannot* afford to waste.
It is the moral equivalent of digging holes in your yard, filling them in, and then selling the filled in holes. I cannot imagine a more futile, less useful endeavor for humans
Valued for scarcity by people who expect that they WILL find a "greater fool" to exchange them for something of actual value to humans in the real world.
Mahinism makes this clear. The Laws of Thermodynamics apply to money, and there is not a single aspect of
I reject the existing system AND Bitcoin.
Please examine my profile and pinned thread. It is almost certain that you are operating on some mistaken assumptions.
The Laws of Thermodynamics are RADICALLY Anti-Capitalistic. I am as well.
Start by trying to define money.
Note: If you use the word "value," you will almost certainly fail.
It does not have to be "fiat" to do it.
To represent work, it almost has to always be "fiat" account-based money.
😉
Fiat money is not wrong if it represents work and is limited by the Laws of Thermodynamics.
Our issues are linked back to money that attempts to violate the Laws of Thermodynamics.
🤣🤣
Mining a single bitcoin takes an enormous amount of electricity and water. Unsustainable, ridiculous bullshit. Elon created a bitcoin trading app… 👀 it 🆙
But of course, don’t address the subject directly why would you, you have nothing to offer.
Check.
But of course, don’t address the subject directly why would you, you have nothing to offer.
Check.
The ultimate Ponzi scheme, Trump the vile pig just made a fortune selling worthless crypto coin to idiots like you
Please, tell me I don't understand.
You and I could spend all night talking about it. That won’t happen.
I guess I’ll just summarize it by reminding you the bitcoin’s CAGR over the last DECADE stands at 79.02%.
Wish I had more time.
This is decentralized and all nodes are equal.
You should really spend your time for studying Bitcoin instead of fooling your follower.
a few miners have huge portions of the market. it could easily scale up, although BTC would crash out if the centralization was a threat to the entire network - i think.
You confuse mining pools and miners.
The only power, mining pools have is to censor transactions, which would cause economical losses for the miners in that pool, causing the miners to change the pool by a click.
It they try to print as much money as required to mine all blocks, their fiat money will face a hyper inflation problem.
the entire BTC market cap is 1.6 trilln
thats just 1 gov. the real issue is that the money printer is not backed by financial value. its backed by government military power. i actually own BTC. im not a bitcoin hater. IMO its a long way from unstoppable.
Those who start a coin make the vast majority of any profit
From people trading established currencies for these bits of code.
As they are mined with other people's electricity.
With the source artificially limited by the creator to give them any sense of value at all even slightly🤷🏻♂️
Ya should'a got hella Benjamins for all this engagement!
It is true that they do not value money the way the working people do, THAT part I got... but that they regard it as a fetish object? That's a good and potentially useful idea.
https://bsky.app/profile/bjchippindale.bsky.social/post/3lacq4nvxsb2t
That's why we have taxes.
Which begs the question of why the workers are paying those taxes instead of the wealthy.
Tax The Rich!
Gold reserves to purchase crypto - ought to be front page, but isn’t.
https://finance.yahoo.com/news/white-house-says-gold-reserves-213421472.html
Is there a pilot in the plane?
the plan is to loot the castle and burn it down after
is how we ended up in this pool of garbage
lutnick, elon and trump are leveraging crypto to assist their quest to loot the US.
its more a political problem than a BTC problem, but trump destroys everything he touches. the trust in crypto will be next.
But of course, don’t address the subject directly why would you, you have nothing to offer.
Check.