Thanks for the thought provoking discussion on @villageglobal by two crypto thinkers: Arjun Balaji (@arjunblj) and Murad Mahmudov (@MustStopMurad) #bitcoin #cryptocurrency #economicshttps://itunes.apple.com/us/podcast/venture-stories/id1316769266?mt=2&i=1000417582614 …
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Arjun Balaji (
@arjunblj) and Murad Mahmudov (@MustStopMurad) how does#bitcoin win as our global currency if 40% is owned by 1000 people? Old stat but same idea1 reply 0 retweets 0 likesShow this thread -
I believe Gini coefficient improves will every boom and bust, earlier investors diversify some away as they make gains. Remember it only started with 2 people owning 100% (satoshi+hal) it's improving. bitcoin isn't about solving wealth inequality but rather wealth inflatability
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Replying to @MustStopMurad @arjunblj
I think what you are saying is that the “1000 Whales” will eventually choose to spend a significant portion of their bitcoin which leads to the question of ease of spending. In the meantime they control the price. Do you trust 1000 whales or the US Fed more in the next 2-5 years?
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1000 whales because every BTC holder is incentivized to make BTC price pump as hard as possible. If you don't want to be subject of their short-term games the best course of action is to buy at a bottom and HOLD for 5 years.
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