I don’t get how Bitcoin can become a viable currency or store of value in the future. It’s almost exclusively owned by a small group of individuals. Are we gonna accept that level of centralisation? Of course not.
Bitcoin is permissionless and bootstrapped. It had to start with 0 users and $0 value. 10 years later it is now worth $50K and has 100M users (doubling every ~2 years).
We are currently living in a world in which the rich get richer (bailouts, stocks, real estate, efficiency gains) while the poor get poorer (cash only, inflation, wage stagnation). Every $1 that trickles down from the top 1% is returned to them as $2 freshly printed from the central banks. Wealth and income inequality continue to rise as a result.
Bitcoin has a fixed supply, and now you can't bailout the riches anymore while having the poor pay the bill in the future via inflation.
Do we accept that inflation causes wealth centralisation? Of course not, but until Bitcoin there wasn't anything we could do about it.
We are currently living in a world in which the rich get richer (bailouts, stocks, real estate, efficiency gains) while the poor get poorer (cash only, inflation, wage stagnation). Every $1 that trickles down from the top 1% is returned to them as $2 freshly printed from the central banks. Wealth and income inequality continue to rise as a result.
Bitcoin has a fixed supply, and now you can't bailout the riches anymore while having the poor pay the bill in the future via inflation.
Do we accept that inflation causes wealth centralisation? Of course not, but until Bitcoin there wasn't anything we could do about it.