If most of Bitcoin is owned by few it cannot be a store of wealth for all

[androyster]

In my opinion BTC will turn into something similar to a current Treasury Bill.  People will be able to store it as wealth using fractions of it just like they do dollars.  Moreover, it will be much more liquid than gold is today.

[Rengga Jati]

I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.

You are promoting XLM? If you have been in crypto for years, you must know that there are many other altcoins that have cheap transfer fees and fast to transfer it. For example, Tron (TRX), even provides a TRC20 network that requires no fee. You don't judge XLM only as of the fast and cheap altcoins. Regarding Bitcoin, it shouldn't be manipulated by few people only. There are a lot of people who joined in Bitcoin investment around the world. If they know Bitcoin is manipulated by a few people only, they won't join the Bitcoin investment anymore.

[Ryker1]

I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.

You are promoting XLM? If you have been in crypto for years, you must know that there are many other altcoins that have cheap transfer fees and fast to transfer it. For example, Tron (TRX), even provides a TRC20 network that requires no fee. You don't judge XLM only as of the fast and cheap altcoins. Regarding Bitcoin, it shouldn't be manipulated by few people only. There are a lot of people who joined in Bitcoin investment around the world. If they know Bitcoin is manipulated by a few people only, they won't join the Bitcoin investment anymore.

Well, OP not only promoting XLM, but OP also discourages people not to use bitcoin.
No way, --if you are crypto enthusiasts, bitcoin is always a cryptocurrency that you supported, it is proven and tested for how many years.
Even there is a problem with the transaction fee, people keep using bitcoin and I think we can't blame them, the season they did not use bitcoin as a mode of payment just because of the high transaction fee.  Therefore, it is worth it to hold bitcoin and it seems this is the same with stock and gold investment.

[aesma]

Bitcoin is like gold. Rich institutions and people hold most of the gold, yet anyone can buy gold and store wealth in it. Gold is also usually regulated and less easy to hide than Bitcoin.

[7788bitcoin]

Lets talk about the topic subject, even if half of the bitcoin in circulation in held by a few investors then it is because they consider them as a store of wealth, if not they will never invest in it, just calculate the $1.5 billion Tesla invested recently and they already profited multiple fold in a short period of time and you think it is not a store of wealth as no other financial market would give them this much profit and you do not consider it as a store of value .

[androyster]

Lets talk about the topic subject, even if half of the bitcoin in circulation in held by a few investors then it is because they consider them as a store of wealth, if not they will never invest in it, just calculate the $1.5 billion Tesla invested recently and they already profited multiple fold in a short period of time and you think it is not a store of wealth as no other financial market would give them this much profit and you do not consider it as a store of value .

Exactly.  And I've listened to people in the know who are predicting BTC to go to 1M per coin.  Don't think it can happen? Once all of the rich folks, like the worlds richest man in the world (as of today) Elon Musk buys 1.5 B worth, more will follow.  BTC is going institutional imho.  My mini farm of 10 S9s are doing pretty good right now thank you.  If I could get my hands on a few S19s LOL.

[wxa7115]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

First of all most people do not even have savings to begin with so they have nothing to store in bitcoin, if things were different then we could see bitcoin serving as a store of value for them, the same happens with gold by the way, do you think that people actually are holding gold? Except for those that have a few pieces of jewelry made of gold the rest of the population is not holding any so that is not something that worries me at all.

The real challenge come from everyday use, the fees are very expensive and as long as that is the case then making small transactions is not an option, you can do several things to lower that cost but even those measures are not enough so we will have to see if the lightning network which was the proposed solution to this problem actually works as advertised, if it does then bitcoin will also become the coin that we will use in our everyday transactions.

[androyster]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

First of all most people do not even have savings to begin with so they have nothing to store in bitcoin, if things were different then we could see bitcoin serving as a store of value for them, the same happens with gold by the way, do you think that people actually are holding gold? Except for those that have a few pieces of jewelry made of gold the rest of the population is not holding any so that is not something that worries me at all.

The real challenge come from everyday use, the fees are very expensive and as long as that is the case then making small transactions is not an option, you can do several things to lower that cost but even those measures are not enough so we will have to see if the lightning network which was the proposed solution to this problem actually works as advertised, if it does then bitcoin will also become the coin that we will use in our everyday transactions.

New Survey Reveals 12% of The American Population Owns Gold, While 14.7% Owns Silver
https://www.prnewswire.com/news-releases/new-survey-reveals-12-of-the-american-population-owns-gold-while-14-7-owns-silver-300942963.html

One recent survey showed that 11% of Americans own Bitcoin, which would mean about 30 million Bitcoin owners in America. Another study found that about 5% of Europeans own bitcoins (37 million owners).

[Sithara007]

Apart from Satoshi Nakamoto, there is no large holder of Bitcoin who owns more than 1% of the circulating supply. So that puts an to end the question about "a few owning the most". No accurate figure is available for the number of Bitcoin owners. Estimates range from 20 million to 200 million, which is a minuscule figure when compared to the number of people who own fiat cash or gold. But the user base is expanding with every passing year. And along with the increase in user base, we will see a change in the ownership structure. Top holders will cash out some of their holdings, while more and more small sized holders will enter the picture.

[DapanasFruit]

Bitcoin can be a good store of value but of course this is not for all people since not all people are gonna be interested with cryptocurrency. The same thing can be said with gold and even with stocks...not all people are holding stocks of Facebook or of Tesla. However, Bitcoin is open to all interested, but we can never force anyone to get involved with Bitcoin even if we have to distribute all Bitcoin equally to all people…eventually there will be some class of people that can own a big chunk of percentage with the asset. There can never be equality anywhere but what we have can be a fair opportunity for all. In the past, there are projects that touched on the idea of distributing cryptocurrency to all people but most of them are now 6 feet below the ground not able to take off the ground.

[Sled]

So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

Apparently, it was your choice. Nobody is forcing us on what coin to invest but there is a reason why people mostly choose Bitcoin instead of altcoins, and that because of profitability. Have you make in your mind thinking about investing dead coins, low liquidity, that is something we need to consider and that to find out Bitcoin is too far from the said altcoins.

Of course, you are saying Bitcoin is just owned by a few people. And that because only a few people want to choose it either rather than to keep local money, investing on bonds and runs a traditional business.

[Lorence.xD]

Apart from Satoshi Nakamoto, there is no large holder of Bitcoin who owns more than 1% of the circulating supply. So that puts an to end the question about "a few owning the most". No accurate figure is available for the number of Bitcoin owners. Estimates range from 20 million to 200 million, which is a minuscule figure when compared to the number of people who own fiat cash or gold. But the user base is expanding with every passing year. And along with the increase in user base, we will see a change in the ownership structure. Top holders will cash out some of their holdings, while more and more small sized holders will enter the picture.

No accurate figure for now but with more institutional investors coming in, I think that we will slowly realize that bitcoin is owned by the few. There seems to be a problem with that 1% some estimates say it is around 3% so I don't know what to believe in because of the mix up in data. Even though it is expanding, most people can't afford to buy one bitcoin let alone a .1 or a .01. Hopefully, the top hodlers will do that and the smaller ones will do that but what happens if that were not to happen would be proving that bitcoin is owned by few.

[AakZaki]

if it is used as a store of bitcoin wealth, of course, it will be very risky because of the very high fluctuating value of bitcoin. Price changes will be faster. You can gain and lose from bitcoin if it is used as a store of wealth. It also depends on how much you buy bitcoins. Bitcoin is not a good store of wealth in my opinion.
Bitcoin remains the first cryptocurrency and the center of all crypto.

[wxa7115]

First of all most people do not even have savings to begin with so they have nothing to store in bitcoin, if things were different then we could see bitcoin serving as a store of value for them, the same happens with gold by the way, do you think that people actually are holding gold? Except for those that have a few pieces of jewelry made of gold the rest of the population is not holding any so that is not something that worries me at all.

The real challenge come from everyday use, the fees are very expensive and as long as that is the case then making small transactions is not an option, you can do several things to lower that cost but even those measures are not enough so we will have to see if the lightning network which was the proposed solution to this problem actually works as advertised, if it does then bitcoin will also become the coin that we will use in our everyday transactions.

New Survey Reveals 12% of The American Population Owns Gold, While 14.7% Owns Silver
https://www.prnewswire.com/news-releases/new-survey-reveals-12-of-the-american-population-owns-gold-while-14-7-owns-silver-300942963.html

One recent survey showed that 11% of Americans own Bitcoin, which would mean about 30 million Bitcoin owners in America. Another study found that about 5% of Europeans own bitcoins (37 million owners).

I really think there is a great overlap there, most of the people that hold gold also hold silver and most likely they also hold bitcoin, at the beginning gold holders were against bitcoin but now it seems they are slowly understanding that bitcoin is also an option for them to hold for the long term as it has several qualities that make it better than gold.

Still what worries me is that when the next crisis comes many people are going to be left with nothing as they have no assets that can be considered to be a store of value, real estate most of the time follows inflation but when there is hyperinflation the price of real estate goes down dramatically as people scale down on their living expenses and one of the first to go is the big house.

[MCobian]

I agree that most of the Bitcoin in circulation are owned by the rich, but that does not mean that ordinary people cannot store wealth in Bitcoin.
Because Gold and money are also mostly owned by rich people, but the proof is that many ordinary people can store wealth in Gold and Money as well.
In conclusion Bitcoin was created for everyone, so I believe we all have the opportunity to own Bitcoin. Then it is impossible for Bitcoin to be forgotten,
and replaced by other coins. Because Bitcoin is the best coin, which has the highest demand. So until whenever Bitcoin may not be replaced by altcoins.

[bitzizzix]

I agree that most of the Bitcoin in circulation are owned by the rich, but that does not mean that ordinary people cannot store wealth in Bitcoin.
Because Gold and money are also mostly owned by rich people, but the proof is that many ordinary people can store wealth in Gold and Money as well.
In conclusion Bitcoin was created for everyone, so I believe we all have the opportunity to own Bitcoin. Then it is impossible for Bitcoin to be forgotten,
and replaced by other coins. Because Bitcoin is the best coin, which has the highest demand. So until whenever Bitcoin may not be replaced by altcoins.

Of course the rich will be richer if they have everything you mention including bitcoins, all will generate wealth and but it all depends on how many bitcoins or other they have.
Most of those who have large amounts of bitcoin are mostly wealthy people because they believe bitcoin is a valuable asset and is backed by capital that will generate large returns, especially in the long term.
Bitcoin is for everyone and the only difference is the individual situation and the number of bitcoins they have, and the rich will remain the masters in everything including the ability to own multiple bitcoins.

[davis196]

So logically, BTC can never become a store of wealth for the masses.

"The masses" can decide to whether buy or not to buy BTC.Most of the people will decide to stay away from Bitcoin,because they don't fully understand it.
Bitcoin is not designed to automatically make the poor people rich.You can't become rich without putting efforts,working hard and making sacrifices.
Yes,Bitcoin is "digital gold" and maybe some altcoins are more suitable and daily usage,but no altcoin can beat Bitcoin in terms of trust and authority.

[pealr12]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

No it cannot, and this recent price hike just make it even farther more from the masses,  I mean it is very easy for a rich dude like Elon to throw in $1.5 bn to buy btc within a twinkle of an eye, same applies to other rich dudes out there, something the masses will not be able to do so easily,

Lets face it, btc is no longer for the masses, it is now the currency for the rich, an avenue where the so-called institutional investors display their wealth freely,  the only thing  the masses can get is the crumbs  

[imstillthebest]

If the world will accept crypto as currency, it won't be BTC.

why not . its the btc that they will accept first because btc is the crypto that they will see the most or the crypto that they will see first before the altcoins .
can i ask you what crypto did you start on .
its the btc i guess ? because me and the people that i know did also started in btc and it depends on what is your definition of store value but for me btc is a store of value because it is a currency

[adzino]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

Not sure where you got all those information from. Are you sure "most of the coins" are held by few people? Or are you just assuming things? Based on the stats provided by shield132 (not sure if legit or not or how accurate it is), you can see that the coins are well spread and no such address holds "most of the coins" (though I agree, you can't exactly know who holds the wallets. Like someone might spread his coins into different address). But still, what makes you think its not possible to use crypto currencies as store of wealth if most bitcoins are owned by few people? People use gold as store of value, yet the governments of the world owns most of the golds.

And why XLM?