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Re:.01% of Bitcoin holders hold 27% of all Bitcoin by numair on Saturday May 21, 2022 @05:44PM (#31462182)
> the selling point of crypto was never curing inequality

The genesis block of Bitcoin disagrees with you completely.

Re:.01% of Bitcoin holders hold 27% of all Bitcoin by aeternum on Saturday May 21, 2022 @05:52PM (#31462278)
The genesis block includes a headline about bank bailouts not on inequality.
Re:.01% of Bitcoin holders hold 27% of all Bitcoin by numair on Saturday May 21, 2022 @06:14PM (#31462477)
Inequality is implicit. If you believe the banking system is a mechanism for enabling plutocracy, you don’t want the banks bailed out. There’s that, and also all of the writings on the forums in which Satoshi hung out.
Re:.01% of Bitcoin holders hold 27% of all Bitcoin by UncleMeat on Saturday May 21, 2022 @09:17PM (#31463965)
BTC solves the problem of techies not being as rich as bankers, not inequality. It simply shifts who is on top.
Re:.01% of Bitcoin holders hold 27% of all Bitcoin by JumpCrisscross on Sunday May 22, 2022 @03:29AM (#31465782)
> BTC solves the problem of techies not being as rich as bankers

Wall Street is having a bonanza with crypto. It's normalized the plundering of retail investors to a level not seen in a century.

Re:.01% of Bitcoin holders hold 27% of all Bitcoin by nfin on Sunday May 22, 2022 @04:12AM (#31465978)
With fiat money the cantillon effect [1] plays a big role.

In Bitcoin (fixed supply cap) that part is very very different.

One big difference is that fiat/political money (political because political decisions decide how money is created and spent first before it inflates and arrives to the rest of the population).

Like El Salvador: they use the Dollar. But do they get some of the newly (for free) created trillions? Or do they only see the consequence of that money, meaning seeing their money inflated away… their part of the pie stays constant while the rest of the pie got inflated/bigger.

[1]: just google “cantillon effect”. It is interesting (the power is not only in the hands of the money holders but also in the political decision makers and those who have good relationships with them… a bit like it used to be with religion and the state… but now still with money and the state)

Re:.01% of Bitcoin holders hold 27% of all Bitcoin by FabHK on Sunday May 22, 2022 @02:38PM (#31471328)
Do you have any evidence that the Cantillon effect plays any significant role?

I hasten to add that BTC currently experiences money supply growth of 1.7% p.a. (though of course BTC inflation has approached 100% in the last half year).

Re:.01% of Bitcoin holders hold 27% of all Bitcoin by imtringued on Saturday May 21, 2022 @07:25PM (#31463173)
So what? The gold standard is known for driving inequality and bitcoin is modelled around it. Have you never wondered why abandoning the gold standard was inevitable the moment the global economy started growing? Maintaining a gold standard by force would be the same as never letting globalization happen and thereby abandon billions of people in their poverty.