/biz/ - Business & Finance

Does the fact that bitcoin wealth is so concentrated in so few hands concern everybody else?

Look at this graph.

If this doesn't set off loud alarm bells in your mind you don't know what you're doing with your money.

4% of BTC addresses own over 97% of all Bitcoin in circulation.

This proves that, from the beginning, the whole cryptocurrency project was one which was inherently designed to draw in wealth, moving it upwards to those who were early adopters.

No, anons, none of you were early adopters. The real ones were around 2008-2009 who mined thousands of Bitcoin each day, then set off on a giant shilling campaign to interest new, dumb money.

The whole market is built on a house of cards. The moment one of these whales decides to move his BTC, is the moment the market crashes to 0.

People are invested under the assumption that Bitcoin is decentralised. 4% of people own 97% of the market, I can't think of anything more centralised than that.

Bitcoin will go down in history as the single greatest ponzi scheme of all time, 100000x bigger than anything Madoff could have dreamed about.