What if BTC replaces mature centralized actors (lots of banks) with less mature, more centralized actors (a startup in SF)? What if the net result of BTC adoption is an increase in power imbalance - latecomers conferring great power to a small set of companies & early adopters?
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Replying to @fchollet
That's why this stupendous rise is so tragic -- the promise of a (possible) great leveling technology extinguished by people trying to get rich speculatively and without understanding, thereby inducing a power-law distribution of ownership.
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Replying to @Robertogoda @fchollet
A few people owning most of it; lots and lots of people owning tiny bits.
12:36 PM - 14 Dec 2017
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