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

[isaac_clarke22]

~

~

Most people after entering this market told their friends and family to come to this market, if they had listened at that point then they would have incredible profits already but they did not and now they are complaining the price is too high.

The adoption of bitcoin all over the world is not going to stop, there was a time when that number was barely above 1 million and now some estimates put it close to 150 millions, that is a full country of people using bitcoin, if you do not adopt it now then there will be a whole continent of people ahead of you, personally I do not care but the more time you take the lesser the benefits you can get out of it.

I'm one of those actually. I was told by my friend to try out Bitcoin.
My big mistake that time was I didn't trust it because I thought it was some sort of illegal coin or some form of a scam. I could have been earning more than hella of a profit if I just followed it.

The adoption is constantly flowing but it is slow. We have a lot of people's awareness to Bitcoin's existence, but they're not just up to the game just yet.

[1715043478]

1715043478

[1715043478]

1715043478

[1715043478]

1715043478

[1715043478]

1715043478

[1715043478]

1715043478

[bryant.coleman]

I disagree with the OP. Take the case of stock market. Jeff Bezos own 11% of the Amazon shares, which is having a net worth of around $170 billion. Elon Musk owns 21% of Tesla. These people have a greater ownership compared to you and me, because they were the early adopters. That's how things work in the mainstream market. You take the risk and you get rewarded. But there is another side to it. I got my first BTC in 2012, when the exchange rate was just $10 per coin. But in due time, I sold around 80% of my coins. That means that many of the early adopters are selling their holdings before the peak prices are achieved. This is in turn beneficial for the late entrants.

[Matimtim]

Definitely yes,  but bitcoin isn't own by only few but more people with knowledge how bitcoin works, and how to use it as money or digital money, maybe we need to introduce it to someone to made them as bitcoin user.

Bitcoin is for all who knows it, because you can't use it if you dont know how it works.

[Bilgent]

First of all, Bitcoin is an investment tool for everybody. We will always be able to trade and use it as a payment method when buying something. And there will always be rich people who have Bitcoin much more than normal people. It is already like that now. So we shouldn't worry about whether we will be able to buy and sell Bitcoin whatever amount we like. There is no such thing in question that we will have problems on doing these things freely.

[Ausgewielt]

World will still choose Bitcoin rather than altcoin. Just look at Elon Musk, he bought Bitcoin which mean that he know the potensial thing of bitcoin. Those people who own many bitcoin will sell their bitcoin, if no it seems that they are not very smart. Peraon who own something without use it until he or she die means that he or she is own nothing. I think the world will accept many type of cryptocurrency. That is the same as USD, there will be a cryptocurrency that vert superior and dominant like USD and that is Bitcoin.

[virasog]

World will still choose Bitcoin rather than altcoin. Just look at Elon Musk, he bought Bitcoin which mean that he know the potensial thing of bitcoin. Those people who own many bitcoin will sell their bitcoin, if no it seems that they are not very smart. Peraon who own something without use it until he or she die means that he or she is own nothing. I think the world will accept many type of cryptocurrency. That is the same as USD, there will be a cryptocurrency that vert superior and dominant like USD and that is Bitcoin.

People will hold bitcoin just as they hold the gold. Also the millionaire don't sell all their wealth and yet die, leaving the money for their generations. The same is true for bitcoin.
People will store bitcoin as bitcoin will become more expensive after every passing day.

[masterrex]

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.

That was a good question with a strong point, IMHO, I believe that there are many coins in the crypto industry that were already surpassed Bitcoin in terms of efficiency like transaction speed and transaction fees, But in terms of popularity and Title Bitcoin has never conquered yet that's why it remains the King of all cryptocurrencies in terms Market Capitalization and because Bitcoin is just limited in terms of supply that's why it gives more chances for price increases and same time act as a store of value SOV.   

[cryptozanga]

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.

90% of all Bitcoin are owned by only 1% of all wallets, if you buy Bitcoin you are just doing the rich richer.

[MIner1448]

The role of bitcoin carries an exclusively speculative nature, nothing more, especially considering the cost of its transfer, it's just a lot of money when its price reaches its maximum, the network is generally overloaded and the price tag for transfers also skyrockets. Due to the fact that you are talking about the masses of people who have accumulated most of the bitcoins, then you are right, the lion's share of the earnings on them will be with them.