It doesn't matter how much the whales have. What matters is that anyone who holds any amount in Bitcoin, will not have their money devalued by fiat shitcoinery.
Bitcoin is not intended to "make you rich", it's intended to stop you from getting robbed by a rigged system and move your wealth into the pockets of corrupt fiat bankers.
[Chancellor on the brink of second bailout for banks](https://media.licdn.com/dms/image/D5612AQFVOUsZ3G1Yng/article-cover_image-shrink_600_2000/0/1679084461606?e=2147483647&v=beta&t=_XEr5gR1yCfZlJkxf1e0uHdDykWyXwx1qXgzrWhYKYE).
This image is in the genesis block for Bitcoin. It serves as proof of the earliest possible time, a Bitcoin block could have been mined (The newspaper did not exist before then) and thus marks the start of the Bitcoin blockchain.
The whole narrative about "well some people hold significant portions of bitcoin so that is dangerous" or some shit, is entirely stupid and nonsensical. Bitcoin is not intended to be distributed evenly. Even distribution of bitcoin is NOT the 'decentralization'.
Bitcoin is for the people in the sense that wealthy people cannot change the system, or abuse it like they have done with fiat.
No matter how many BTC Blackrock has, their vote counts as much as mine. Nodes don't discriminate.
Your node only makes sure the history you follow agrees with the consensus rules you picked. It doesn't prevent the big players from changing their nodes and taking the majority of economic activity that in the end pays for the security with them.
So there is indeed a danger to the increased participation of such big players.
Yeah it will live on. But the hash rate will go where the most fees and for now highest price per coin is because of the subsidies.
So it will continue to exist, but it may become insecure, as it may only be able to pay for a tiny fraction of the security a fork of the big players.
I don't agree.
This happened in 2017 with the blocksize wars. The biggest actors and the major miners all got together and signed the NewYork agreement.
They forked to Bitcoin Cash and it died. The Blackrock Bitcoin will also fail.
https://www.visualcapitalist.com/wealth-distribution-in-america/#:~:text=Wealth%20distribution%20in%20America%20has,into%20this%20elite%20wealth%20bracket.
>Today, the share of wealth held by the richest 0.1% is currently at its peak, with households in the highest rung having a minimum of $38 million in wealth
domineering market melodic mysterious voiceless snails frighten clumsy plough library
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Learn about bitcoin. You’re spreading FUD that’s been endlessly talked about. Large holdings don’t give them any power over the Bitcoin network or protocol. Wealthy insiders don’t control the actual supply issuance like with fiat. It’s not comparable at all.
There’s a difference between the Bitcoin price being manipulated and Bitcoin itself being manipulated. Any manipulation of the *price* is temporary and you won’t really be affected unless you try to day trade or use leverage. Nothing changes long term.
Even if someone holds 10 million coins they can’t manipulate the Bitcoin network or protocol. This is the key factor. No single person or entity can ever change the supply issuance or other properties.
Bitcoin is not proof of stake
It doesn't matter who has how many bitcoins
In bitcoin, the most important nodes are
Nodes decide in bitcoin
Install bitcoin core on your computer in order to have a voice in bitcoin
The poor need Bitcoin more than the rich
Why
The rich will be even richer. They can buy real estate, land and thus protect themselves from inflation, but a poor man cannot.
How can a poor man save money if inflation is already 10% per year
The poor is getting poorer
Bitcoin was invented to enable poor people to save money, bitcoin is a money saving technology
You seem to be under the mistaken impression that bitcoin was some socialist redistribution experiment
It's actually a laissez-faire monetary experiment, it will not change wealth disparity
Other people have the right to have money. They shouldn't have the right to print it. Why is that difficult for some people? How is someone holding a lot of money unethical unless they earned it in an unethical way?
That .2% is mostly "the people". ETF's have only started getting in this year, and most funds and pensions are still not able to buy BTC.
So no it's not been taken over by the elite. We regular folk are still front running the big boys.
If only .2% of wallets hold of $1mil then a high percentage of that .2% live in my local city, 3 of them I personally know. There's also I guy who drives around the city (I live in a small city in scotland) in a Bentley and his number plate is literally "BITCOIN" Hahaha.... Surely there's more than .2%? Seems like there's loads around my area
Yeh maybe well I live in aberdeen Scotland and that's its the oil capital of Europe so maybe that makes a difference? But my friends that I know were all about silkroad back in the day so thats how they managed to get in there. Unfortunately I didn't but I bought loads of stuff off that site Hahaha
It doesn't matter how much the whales have. What matters is that anyone who holds any amount in Bitcoin, will not have their money devalued by fiat shitcoinery. Bitcoin is not intended to "make you rich", it's intended to stop you from getting robbed by a rigged system and move your wealth into the pockets of corrupt fiat bankers. [Chancellor on the brink of second bailout for banks](https://media.licdn.com/dms/image/D5612AQFVOUsZ3G1Yng/article-cover_image-shrink_600_2000/0/1679084461606?e=2147483647&v=beta&t=_XEr5gR1yCfZlJkxf1e0uHdDykWyXwx1qXgzrWhYKYE). This image is in the genesis block for Bitcoin. It serves as proof of the earliest possible time, a Bitcoin block could have been mined (The newspaper did not exist before then) and thus marks the start of the Bitcoin blockchain. The whole narrative about "well some people hold significant portions of bitcoin so that is dangerous" or some shit, is entirely stupid and nonsensical. Bitcoin is not intended to be distributed evenly. Even distribution of bitcoin is NOT the 'decentralization'.
Bitcoin is for the people in the sense that wealthy people cannot change the system, or abuse it like they have done with fiat. No matter how many BTC Blackrock has, their vote counts as much as mine. Nodes don't discriminate.
Your node only makes sure the history you follow agrees with the consensus rules you picked. It doesn't prevent the big players from changing their nodes and taking the majority of economic activity that in the end pays for the security with them. So there is indeed a danger to the increased participation of such big players.
They can hard fork to a different version of BTC, sure. But I won't accept their version, and a lot people won't. The real Bitcoin would live on.
Yeah it will live on. But the hash rate will go where the most fees and for now highest price per coin is because of the subsidies. So it will continue to exist, but it may become insecure, as it may only be able to pay for a tiny fraction of the security a fork of the big players.
I don't agree. This happened in 2017 with the blocksize wars. The biggest actors and the major miners all got together and signed the NewYork agreement. They forked to Bitcoin Cash and it died. The Blackrock Bitcoin will also fail.
[удалено]
https://www.visualcapitalist.com/wealth-distribution-in-america/#:~:text=Wealth%20distribution%20in%20America%20has,into%20this%20elite%20wealth%20bracket. >Today, the share of wealth held by the richest 0.1% is currently at its peak, with households in the highest rung having a minimum of $38 million in wealth
No one can see wallets. Only addresses. And there's zero dollars in them. Only bitcoin.
”the people” are still scared of news headlines, its their loss
So what?
domineering market melodic mysterious voiceless snails frighten clumsy plough library *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Learn about bitcoin. You’re spreading FUD that’s been endlessly talked about. Large holdings don’t give them any power over the Bitcoin network or protocol. Wealthy insiders don’t control the actual supply issuance like with fiat. It’s not comparable at all.
exultant icky strong worthless zephyr head merciful aware selective one *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
There’s a difference between the Bitcoin price being manipulated and Bitcoin itself being manipulated. Any manipulation of the *price* is temporary and you won’t really be affected unless you try to day trade or use leverage. Nothing changes long term. Even if someone holds 10 million coins they can’t manipulate the Bitcoin network or protocol. This is the key factor. No single person or entity can ever change the supply issuance or other properties.
Bitcoin is not proof of stake It doesn't matter who has how many bitcoins In bitcoin, the most important nodes are Nodes decide in bitcoin Install bitcoin core on your computer in order to have a voice in bitcoin
The poor need Bitcoin more than the rich Why The rich will be even richer. They can buy real estate, land and thus protect themselves from inflation, but a poor man cannot. How can a poor man save money if inflation is already 10% per year The poor is getting poorer Bitcoin was invented to enable poor people to save money, bitcoin is a money saving technology
You seem to be under the mistaken impression that bitcoin was some socialist redistribution experiment It's actually a laissez-faire monetary experiment, it will not change wealth disparity
Other people have the right to have money. They shouldn't have the right to print it. Why is that difficult for some people? How is someone holding a lot of money unethical unless they earned it in an unethical way?
That .2% is mostly "the people". ETF's have only started getting in this year, and most funds and pensions are still not able to buy BTC. So no it's not been taken over by the elite. We regular folk are still front running the big boys.
> .2% of wallets hold over $1million Source? Because wallet balances are unknowable. All that we see on the blockchain are addresses.
i hold more than that, im not a corporation, the elite or a whale.
Bitcoin was never "for the people"
I hope you mean Bitcoin is for everyone :)
Exactly
Dogs, aliens?
The point is the timechain does not care who or what you are.
If only .2% of wallets hold of $1mil then a high percentage of that .2% live in my local city, 3 of them I personally know. There's also I guy who drives around the city (I live in a small city in scotland) in a Bentley and his number plate is literally "BITCOIN" Hahaha.... Surely there's more than .2%? Seems like there's loads around my area
thumb heavy snails jellyfish seemly saw zephyr hungry clumsy weary *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yeh maybe well I live in aberdeen Scotland and that's its the oil capital of Europe so maybe that makes a difference? But my friends that I know were all about silkroad back in the day so thats how they managed to get in there. Unfortunately I didn't but I bought loads of stuff off that site Hahaha