distribution of wealth
everybody knows that 40% of all bitcoin wealth is held by less than 1000 people, but what does that mean for the future of cryptocurrency becoming the primary way things are bought and sold?
1 Like
It is really interesting fact
Price rises, people sell, wealth is distributed.
No one is going to live in a shack while sitting on $10 million of bitcoin just so in 20 years they can have more. People value present consumption over future consumption. Even bitcoiners.
It means they have already got rid of 60% and are still distributing as fast as they can - without flooding the market and “Killng the goose that lays the golden egg” ! - Probably means that they are already way in profit on their total investment against already received profit and now they are just trying to dispose of their remnants to gullible retail !
Tulip bulb anyone ? I’m only asking two terraced houses ! 
[Edit - You call it “Distribution of wealth” - I call it “Redistribution of wealth” 
]
1 Like
It means its a bubble.
IT’s not only bitcoin, there is study where it shows that you really do not see other way. Something like all main crypto’s (like BTC itself, Ethereum, Litecoin, etc.) are owned by a small group of individuals really and it’s quite risky to put your money here without knowing that.