#UnpopularOpinion
Bitcoin to possibly perpetuate or even speed up existing wealth inequalities, leading to a new form of financial control of the masses.
Concentration of Ownership ("Whales"): A significant portion of Bitcoin's supply is held by a relatively small number of large holders and increasingly by institutional investors. Reports indicate that a small percentage of Bitcoin addresses control a disproportionately large share of the total supply. This concentration raises my concerns about market manipulation and the potential for these large holders to influence price movements and even the individual bitcoin holders themselves.
Exacerbating Wealth Gaps: As Bitcoin's NgU, the primary beneficiaries are those who hold substantial amounts, often already well-capitalized entities / individuals. This could indeed widen the gap between the wealthy and the 70% of average individuals living check to check, making it harder for the latter to achieve significant financial gains through Bitcoin.
Price Point: If the price of Bitcoin continues to rise rapidly due to institutional and government demand, acquiring even a small fraction of a Bitcoin might become prohibitively expensive for many, limiting its practical use as a savings or spending vehicle for the average person. (Aka bip 177 to trick folks into thinking they can afford to)
Centralized Intermediaries: While Bitcoin is decentralized, many individuals will only ever access it through centralized exchanges and services (like Coinbase, Binance, or even traditional banks offering crypto services now). This reintroduces elements of centralization and potentially the same control mechanisms found in traditional finance, even if the underlying asset is decentralized.
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npub1wl…zn8lu
2025-05-20 14:12:46
Author Public Key
npub1wl89d7yazg500lehg08p45dj2jzhhyqg2erj067458e3wd30djns4zn8luPublished at
2025-05-20 14:12:46Event JSON
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"content": "#UnpopularOpinion \n\nBitcoin to possibly perpetuate or even speed up existing wealth inequalities, leading to a new form of financial control of the masses.\n\nConcentration of Ownership (\"Whales\"): A significant portion of Bitcoin's supply is held by a relatively small number of large holders and increasingly by institutional investors. Reports indicate that a small percentage of Bitcoin addresses control a disproportionately large share of the total supply. This concentration raises my concerns about market manipulation and the potential for these large holders to influence price movements and even the individual bitcoin holders themselves. \n\nExacerbating Wealth Gaps: As Bitcoin's NgU, the primary beneficiaries are those who hold substantial amounts, often already well-capitalized entities / individuals. This could indeed widen the gap between the wealthy and the 70% of average individuals living check to check, making it harder for the latter to achieve significant financial gains through Bitcoin.\n\n \n Price Point: If the price of Bitcoin continues to rise rapidly due to institutional and government demand, acquiring even a small fraction of a Bitcoin might become prohibitively expensive for many, limiting its practical use as a savings or spending vehicle for the average person. (Aka bip 177 to trick folks into thinking they can afford to)\n\nCentralized Intermediaries: While Bitcoin is decentralized, many individuals will only ever access it through centralized exchanges and services (like Coinbase, Binance, or even traditional banks offering crypto services now). This reintroduces elements of centralization and potentially the same control mechanisms found in traditional finance, even if the underlying asset is decentralized.",
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