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Author Topic: 1% of Crypto Wallets hold 87% of all Bitcoins  (Read 196 times)
20kevin20
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February 22, 2021, 06:41:00 AM
 #21

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.
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.

If you don't like that fact,just pick some altcoin,that is "equally distributed" as use it every day.
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..
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February 22, 2021, 06:56:55 AM
 #22

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.

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.

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.

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.
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February 22, 2021, 07:31:48 AM
 #23

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.

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