News for hackers. Stuff that matters.

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 testvox on Friday December 08, 2017 @10:06AM (#15879084)
If they are good stewards of the money and invest it well then they will keep it and we all gain from their investments. If not they lose it and someone, hopefully more responsible will have it. In the long run the right people (those who can make profitable investments) will have control over capital.
[ Parent | on HN ]
Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by EGreg on Friday December 08, 2017 @10:32AM (#15879329)
How do you know being a good steward of that money doesn't mean just hoarding it and doing nothing?

Bitcoin encourages hoarding while it's going up. Who knows where this runaway phenomenon will lead.

At least the dollars and euros exchanged for it don't go anywhere. Bitcoin has fast become a store of value and redistribution of the world's wealth to early adopters, as any new fixed money supply would be.

[ Parent | on HN ]
Re:The Bitcoin Whales: 1,000 People Who Own 40 Percent of th... by piva00 on Friday December 08, 2017 @10:08AM (#15879102)
Can you clarify what is your definition of "right people" in this specific case?
[ Parent | on HN ]