> As long as a third party central authority controls our money system, we will always be subject to the whims of the few. Bitcoin is helping to liberate us and it’s absolutely working.
A bold claim without evidence. In fact, the opposite may be true [1]. This is but one counterpoint; another notable problem is the centralization of bitcoin mining in China [2].
The same can be said about any money system in a capitalist economy (e.g., 1% owns 40% of the wealth in the US [1.1]).
> This is but one counterpoint; another notable problem is the centralization of bitcoin mining in China [2].
I'm not sure this is 'looming' today as the article boldly claims, but centralization is definitely a risk. It's important for everyone to participate in the system as they can for a more equal distribution of ownership - akin to how one should exercise their vote in US elections.
> [1]: https://www.bloomberg.com/news/articles/2017-12-08/the-bitco...
The same can be said about any money system in a capitalist economy (e.g., 1% owns 40% of the wealth in the US [1.1]).
> This is but one counterpoint; another notable problem is the centralization of bitcoin mining in China [2].
I'm not sure this is 'looming' today as the article boldly claims, but centralization is definitely a risk. It's important for everyone to participate in the system as they can for a more equal distribution of ownership - akin to how one should exercise their vote in US elections.
[1.1] https://en.wikipedia.org/wiki/Wealth_inequality_in_the_Unite...