Bitcoin Forum

What you think about this? Do you think this is a problem for Bitcoin future?

https://www.cryptoglobe.com/latest/2018/09/diar-research-less-than-1-of-crypto-wallets-hold-87-of-all-bitcoins/
 (https://www.cryptoglobe.com/latest/2018/09/diar-research-less-than-1-of-crypto-wallets-hold-87-of-all-bitcoins/)

Please check the Bitcoin distribution, is really crazy:

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html (https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html)

Bang it on!

No, no and no. If you read that link that you have put you will see that "Wallets with the most bitcoins belong to exchanges". Apart from that, I don't have a problem with few people owning a lot of Bitcoin, like early adopters, or Satoshi, or people who invest a lot of money nowadays.

Lately I'm hearing the same complaint from people who until recently were saying that Bitcoin is a scam and that it's going to go to 0 and that it's going to be banned....

Well, from those same people I hear lately that it is unfair that Bitcoin is badly distributed.

Moral of the story: buy Bitcoin and shut up your mouth.

We all know that Bitcoin is not a scam, but I was impressed to see that the concentration is only in 1% of the wallets, it is too much of a difference, but hey, this happens in everything.

Isn’t this how world finance work??

1% control 90% of world money, or something like this.

So... I guess that bitcoin is following world wealth parameters as well.

may i know details about this ? actually i want to know more about this

It's so funny how these nocoiners need to find always some sort of flaw for bitcoin which obviously can't be found because BTC was a spectacular and brilliant achievement that normies can't fully understand.
Great comment Poker Player, merited you for that!

Quiet, it is not a criticism of Bitcoin, it is a reality that I found quite interesting, it is a matter of thinking about what would happen if only 0.5% of that group agreed to sell at the same time haha, regarding what of "noncoiner" I will not comment since I probably must have more btc's than you. Greetings

Well this is something that is already known by the most of us and then comes the idea of getting scared about: Manipulation
The market Manipulation is something that might cause the price to fluctuate time and again but at the end most of these holders are the people like Mr. Satoshi, the earliest adopters and also the people who are investing now , the big firms and companies are literally pouring in millions of btc.  But as long as they decide not to cause the market dump in a negative basis and not all follow the suit then I think we are safe.
But then again as I said a couple of times also before , if they did cause the market to collapse the people won't , leave any chance of buying Bitcoins , the ATH kind of gives BTC it's mark , shows people it's true potential and that also is a big factor when people are buying, there are a lot of people waiting on the sidelines for this to happen. Let's see what happens!!
Many of us are here not because of the price but because of the jobs , the financial freedom it provides. There are literally so many opportunities waiting for us here!!

There are many people around the world who own things that are valuable, not just in bitcoin.  Our purchasing power is directly proportional to our economic power. And if we consider that the bitcoin was the thousands of bitcoins mined in the early days, we can consider it less risky.

That's the one reason btc has not yet become global. It is also the reason of high volatility of btc price. These big whales dump whenever they want to crash the market.
But this is also the reason why btc price rise.

I am about to say the same thing.
bitcoin now is a public asset. it's on the market. even your cat can buy bitcoin (if you can teach your cat)
We all know that the number of rich people in this world is really low compared to the world population.
those rich people can buy bitcoin, and they can increase their wealth exponentially like they usually did.
they will buy bitcoin no matter the price when they want it.
when the time comes, the number of bitcoin holders just a reflection of the number of rich people in this world.

in my country, the number of rich people according to the World Wealth Report 2019 by Capgemini is only 0.05%.
the parameter is you should have a wealth of more than $1M.

Such a skewed ratio can only mean that bitcoin will never be the instrument which will give financial liberty to the masses.
Since there is probably no way to change this ratio in favor of the "little man" in the street, bitcoin will be used to control the masses instead.
I am not sure if the inventor of Bitcoin had this result in mind when he wrote the code.

Here no one is saying that nothing about the big holders, they are fucking legends for me, in fact the problem goes into the code, although Bitcoin is an innovation of another level, probably the growth scheme that it has makes that instead of being a currency to use, it is simply digital gold. But in fact less accessible than gold today.

How do you see that as a problem? what if you're the one who holds the most bitcoin. Will you ask yourself the same question for having a lot of bitcoin and will make others that it's a problem for them?
That's just an overthinking for you.

If i have 1000 Bitcoins i will have the exactly same opinion, because if the concentration of only 1% wallets holds 87% of all bitcoins of course something is wrong.
Obviously that having that amount I would not complain hahaha but I would have the same current thinking.

It's just how the system works and that happens to the traditional economy aswell, small portion of people will definitely owns big portion of the economy since the bigger capital you got the easier it is to make profit or to earn money.
But, is the statistic also consider the fact that some of these wallets that owns big amount of crypto owned by more than one individual? because I think that's need to be taken into account.

It is always the case that there are only few richest people in the world who posses most part of the wealth and this is also true for bitcoins. The good thing about the bitcoin is that it is fixed in supply, so the more people hold it, the more its demand will increase and its price will sky rocket. I don't see this as a problem unless those few people decide to dump the bitcoin in the market.

In fact, that's the only problem i see, they can dump Bitcoin in hours if they want.

The same with wealth in the majority of countries. 1% of people control more than 60% of wealth

This is a purely clickbait FUD article.It insults the intelligence of very experienced Bitcoiner.
There's no requirement for Bitcoin to be equally distributed among many people.
Is there such requirement or rule in the Bitcoin whitepaper and the protocol?Nope.
0.001% of all BTC wallets could hold 99% of all Bitcoins in the future and that would be fine.
If you don't like that fact,just pick some altcoin,that is "equally distributed" as use it every day.

??

What are you talking about? The article is talking about how badly wealth distribution happens, even with Bitcoin. There's nothing we can do about it though - if wealth inequality exists with fiat, then it will exist in all of the other domains.

Altcoins are worse than Bitcoin when it comes to inequality, lol. Bitcoin is the coin that is as equally distributed as possible, and it still has a bad wealth inequality that is only going to get worse over time as the rich invest in it..

Who told all these people not to invest in Bitcoin? Early adopters deserves to be rich, because they took the risk to invest in Bitcoin, when nobody took it seriously. Most of the people who are whining right now are those who missed the boat. Many of them termed Bitcoin as a scam or Ponzi in the early days, when people like me made our investments with cryptocurrency.


Bitcoin as not devised as a weapon to erase wealth inequality, so I agree with you. If the so called poor want to become rich, then they should stop producing children like pigs and concentrate on learning new skills rather than living off handouts. Or better, they can invest in Bitcoin at current levels, and get 10x ROI on their investment after 10 years.

Technically, the statistics showing that 1% of all crypto wallet holds 87% of all Bitcoin is true because the crypto exchange site wallet is the richest wallet these days but I am surprised that the word "not your key, not your coins" doesn't mean anything to a lot of crypto investors that keep most of their holding on the exchange because of the SAFU introduced which doesn't all fund will be returned if the exchange hot wallet is drained.