Perhaps the saddest part in this is that even the cryptocurrencies are not immune to their being accumulated into the hands of a few as new analysis of Bitcoin wallet holdings shows that less than 1% of Bitcoin owners control more than the other 99% combined.
http://www.thedailyeconomist.com/2017/06/even-in-cryptocurrency-markets-1-own.html
See Ya!
Hey, If idiots don't wanna hold onto their bitcoins the coins will eventually end up somewhere - probably in the hands of smarter, richer people who have the courage to hold.
The article is not saying that the richest 1% own 99% of the bitcoin. It is only saying that 1% of bitcoin owners have 99% percent of the bitcoin. Thanks!
I could believe that. The 1% have more assets to buy them simply, and to buy hardware to mine them
I read somewhere the mining is predominantly in China thanks in part to cheap electricity.
Could be, could be...
The article is not really talking about the rich owning 99%. It is only saying that 1% of bitcoin owners have 99% percent of the bitcoin. Thanks for your reply.
As more and more industries become distributed due to blockchain implementation the less it will matter how wealth is distributed. Yes we have a 1% in crypto, but cryptocurrencies represent the greatest redistribution of wealth we've seen for a very long time.
Progress is always slow, but its still progress :)
I would have to agree. Thanks for two very positive statements.