Bitcoin is largely controlled by a small group of investors and miners
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Re: Bitcoin is largely controlled by a small group of investors and miners
#2[deleted]
Re: Bitcoin is largely controlled by a small group of investors and miners
#3yup, this has been the way since the beginning.
in fact most of the alt coins are the same way. and its super obvious that its being manipulated by those with the largest amounts.
the market is too immature. the financial gene pool is too shallow.
Re: Bitcoin is largely controlled by a small group of investors and miners
#4Pareto's observations back in 1896 about land ownership in Italy still hold true...
Re: Bitcoin is largely controlled by a small group of investors and miners
#5Pareto's observations back in 1896 about land ownership in Italy still hold true...
Yeah I think this is not really surprising. Why would bitcoin be any different than e.g. wealth more generally.
Re: Bitcoin is largely controlled by a small group of investors and miners
#6Money is largely controlled by a small group of investors and central banks. [citation needed]
Re: Bitcoin is largely controlled by a small group of investors and miners
#7> the ecosystem is still dominated by a concentration of key players, making the ecosystem susceptible to systemic risk like a 51 percent attack, where a group of miners could take control of the majority of the network.
Never mind that doing so would destroy the value of the cap/opex invested.
But yea... bitcoin is dead, again.
Re: Bitcoin is largely controlled by a small group of investors and miners
#8Money is largely controlled by a small group of investors and central banks. [citation needed]
The difference is that traditional money is up front about that fact and doesn't use decentralization as a selling point.
Re: Bitcoin is largely controlled by a small group of investors and miners
#9> the ecosystem is still dominated by a concentration of key players, making the ecosystem susceptible to systemic risk like a 51 percent attack, where a group of miners could take control of the majority of the network. Never mind that doing so would destroy the value of the cap/opex invested. But yea... bitcoin is dead, again.
> Never mind that doing so would destroy the value of the cap/opex invested.
"Bitcoin is centralized, but that's OK because the central authorities can be trusted to do the right thing" isn't exactly a compelling argument. Especially when decentralization is supposed to be one of Bitcoin's major selling points.
Re: Bitcoin is largely controlled by a small group of investors and miners
#10[deleted]