News for hackers. Stuff that matters.

A comment on Coinbase Wants to Be Too Big to Fail. Parent comment

Re:Coinbase Wants to Be Too Big to Fail by jjtheblunt on Thursday September 27, 2018 @06:04PM (#18089206)
That's because of entrenched monopolies.
[ Parent | on HN ]
Re:Coinbase Wants to Be Too Big to Fail by abecedarius on Thursday September 27, 2018 @10:02PM (#18090425)
If bitcoin's only long-term effect were to be to goose legacy money into competing better, well, that's not nothing.
[ Parent | on HN ]
Re:Coinbase Wants to Be Too Big to Fail by badge on Friday September 28, 2018 @12:08AM (#18090989)
Bitcoin is owned by a tiny oligarch and operated by an ASIC monopoly in China called Bitmain.

https://howmuch.net/articles/bitcoin-wealth-distribution

  As you can see, over 95% of all bitcoins in circulation 
  are owned by about 4% of the market. In fact, 1% of the 
  addresses control half the entire market.
There's a theory Bitfinex and Tether might have created aprox 3 billion in counterfeit USD in order to steal and launder Bitcoins and manipulate their exchange and as a result, the entire cryptocoin market.

Comprehensive investigation is detailed here: https://medium.com/@bitfinexed

[ Parent | on HN ]