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A comment on The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market. Parent comment

Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by randlet on Friday December 08, 2017 @10:02AM (#15879048)
This is what I don't understand. In the hypothetical case where we switch to using bitcoin won't early adopters be the only people with money? What about the 99.9(9?)% of the population who don't own any bitcoins?
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Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by icebraining on Friday December 08, 2017 @10:10AM (#15879122)
How are you thinking the switch would occur? It's not like the "old" currencies will suddenly lose their value, you'll be able to exchange them for a long time.

Plus, most people don't own that much currency anyway; they either get a paycheck (which can start coming in BTC) or an asset like a house, which is valuable in any currency.

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Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by randlet on Friday December 08, 2017 @10:40AM (#15879407)
When I said "only people with money" I meant "meaningful amount of money" but I can see what you're saying. I'm not sure what I'm struggling with about the concept...time for me to do some more reading / thinking.
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Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by jerkstate on Friday December 08, 2017 @10:38AM (#15879383)
USD has already declined in value 3x over the past 6 weeks, compared to BTC
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Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by fnovd on Friday December 08, 2017 @10:44AM (#15879439)
Everything has declined in value over the past 6 weeks compared to BTC.
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Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by empath75 on Friday December 08, 2017 @01:38PM (#15880784)
The value of the dollar has declined a few hundred percent vs the price of nvidia stock in the past year, too. I'm not really sure that sort of comparison makes sense.
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Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by devdas on Friday December 08, 2017 @10:13AM (#15879140)
Welcome to serfdom.
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