Fair assertion? @codeforamerica @timoreilly @SteveCase @NickSzabo4 @USAFacts @RepresentDotUs #CivicTech #civichacking #govtech #blockchain #crypto https://twitter.com/farbood/status/1027983874796613632 …
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I totally agree that our current financial markets are also centralized. I just have found it remarkable how quickly Bitcoin came to resemble them in the structure of economic Haves and Have Nots.
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Anyone hoping for equality of outcome is not being realistic in any way shape or form. Pareto distributions are natural and should be expected. If significant wealth is weighted in the hands of intelligent, freedom loving individuals then all the good that can be done has been.
End of conversation
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To me, "economically centralized" means that a small number of people control the majority of the value capture. Just because anyone can bet on the price of Bitcoin doesn't mean that they have the same kind of economic power as the now-centralized miners.
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