Bitcoin Forum

40% of American wealth is held by 1% of the people. That is not good!  40%  of BTC is held by about .01% of bitcoiners!!! How are we to get more distribution?

Edit:

Market will always be susceptible to manipulation. More distribution means less manipulation.

At least those 1%ers in USD don't hold actual cash. The 0.1%ers in BTC actually hold it in BTC!!! It's a liability for manipulation!

Bitcoins is not wealth per se. It's more like shares in a technology. So we are not going to get a more uniform distribution because it's not an issue and noone really cares.

yes its shares in a technology but as bitcoin holders sell into fiat which imo will coexist for some time then wider distribution is inevitable! saying no one cares is a fallacy as I care.

Don't worry when bitcoin will be 0.01$ this will not be a problem anymore.

Bitcoin is treated as assets legally but actually used as currency. Owning bitcoin is like that you own wealth. Bitcoin is still the minority's  game, which lead someone own a large amount of bitcoin. When the bitcoin is increasingly playing an important role in our daily life and perceived as valuable technology, the ppl hopefully will step in to buy and spend it.

You can cry about the mega wealthy 1% but it will always be that way IMO.

how you can know that the 40%  of BTC is held by about .01% of bitcoiners??

What do you propose, that those "bastards with fat wallets" give away some of their coin to help the less fortunate ones and make it fair and nice for everyone? :)))

What would you prefer and why?

those who cry about the rich are usually those that dont want to work hard to get some wealth.

i have came across many people complaining about the rich, but when asking what job the complainer has, thy say they dont have one. i then ask what qualifications the person has, the complainer says very low qualifications. i then ask what job they would love to do and what they have done to get that specific dream job... again the complainer shows no effort..

i see too many people that think that being handed things for free is their right of life and that work should be seen as slave labour.

even in bitcoin, i have tested the water many times hinting that people can easily start their own legit business involving getting their local stores to accept bitcoin and receive a commission for it. out of all the replies i did not see any real interest in starting the business, but complain that it was not easy money due to the fact the person would actually need to do some work to get the money.

we live in the generation where money can be obtained by government social security, or by signing a piece of paper to register for a credit card. and then when governments and credit card companies ask for it back, all it takes is another piece of paper to be declared bankrupt to not require repaying it..

bitcoin should never EVER be considered as 'free' money, or 'easy' money. if you cant be arsed to work hard or invest in it, then you should not be handed the rare asset known as bitcoin.

and if you disagree with my comments, then go play with infinity coin. until you realise what true value is.
maybe watch this video while you play with your infinity coins
https://www.youtube.com/watch?v=NjjYVROiJIA

then dont blame bitcoin or those that have already succeeded in the community, and dont think that bitcoin should be changed to be given out freely to the poor

Do you really think bitcoin will be $0.01 one day?   :-\

don't warry ,the btc won't be $0.01 ,IT only will be $100000 :)

My dream is to become one member of the 1%

Don't believe idiotic, false assumptions w. zero info backing up the assumption.

People who joined first, trusted more and invested more (and risked more), deserve to have more and earn more.
So, this is prize for their risk involved and truat in this project.

 How are we to get more distribution?
I guess this is good question for the creator, Satoshi Nakamoto

Pass legislation to force more non-adopters to contribute and innovate in the Bitcoin space. They will then reap their rewards in bitcoins.

Tax the early adopters.

Yes, it never will  happen that the price drop to $ 0.01.

Uneven distribution of a scarce and naturally deflationary currency is not the same as uneven distribution of an endlessly inflated one.

Since the supply of bitcoins is limited, the trend will naturally be towards a more even distribution, not the other way around.

Btc is not a democratic system. Is a great prototype for skip banks payments centralized system but is still a digital asset for traders and speculators.

There are to many investments and coin collectors for it to be  $0.01.   $500 or $1000 is more realistic, BTC will not be $0.01 any time soon.

I am thinking about how this will affect adoption. If only 0.1% own 40% of BTC, then how will this affect adoption? Is Bitcoin less likely to take off if we have such giant whales? The market will always be susceptible to manipulation if there is such extreme unequal distribution.

OK, let's put it in a slightly different way: In 2009, 100% of bitcoins were owned by just one person. Today, nobody knows (the often-touted figure of 0.1% owning 40-50-60% is wrong, because it doesn't account for one address holding BTC from multiple owners, like an exchange, or multiple addresses holding the BTC of just one owner, like me, you and everyone else). However, it is safe to say that today 100% of all bitcoins aren't owned by one person. I know that because I own some, and people I know own others.

Now, is this likely to get better distributed or less so?

Bitcoin is scarce. There only exist a certain amount at any given time, and there will never be more than 21 million. Yet, the number of people who own bitcoins, as evidenced for example by the number of active wallets, is growing all the time.

The only way for the distribution to get worse would be if those who own bitcoins never spend, and simply buy more, until they own them all.

This is clearly absurd, as a bitcoin that isn't spent and never will be spent by definition is pretty much worthless, so there wouldn't be much point in hoarding them in that way.

Ergo, the distribution will tend in the other direction, crucially as the market becomes more liquid in the coming years.

I don't think that. I know that.

Nobody knows bitcoin price of next year.

This is called meritocracy and, yes, it is good  :)

I appreciate good answers. Thank you!

Exactly, at first people will accumulate, then later they will spend, which will reduce the concentration of coins

However, since fiat money exists, you can always mortgage your coins and get fiat loan to spend, and as long as the appreciation speed of bitcoin is faster than the interest of a fiat loan, you could get larger and larger loans to payback the previous loan. In that case the coin will become the endless source of financing, and continuously concentrate, just like the top 100 chart shows

http://bitcoinrichlist.com/charts/number-bitcoins-owned-by-richest

I agree that, over time, the distribution of bitcoin will become less concentrated over time, however until then the bitcoin market will be susceptible to wild price swings when a large holder of bitcoin wishes to sell a portion of his position (this would not necessarily be manipulation). I would say that until the distribution is more even man people will be turned off about investing in bitcoin.

Although some large addresses do hold bitcoin on behalf of many people, some people also have a large number of addresses that each hold a little bit of bitcoin, however when the amount in these addresses are added together it would be a lot