Topic: If the banksters and governments held 90% of the Bitcoin supply, what now? - page 9. (Read 1208 times)

now after showing the math that the IRS could easily accumilate alot of % of hoard.
there ar also things like lightning factories, which USERS put in X and as the funder circle around in circled from factory to channel, get spent(user holds less) and settled back to factory with users having less.. and repeat repeat repeat

to a point where general public only hoard 10% left overs
the end result is that although alot of coin is now hoarded.. the network CODE has not changed.

the main thing would be the devs changing the CODE to benefit the IRS/LN factory merchants who have most of the spend ability decisions.

EG if 20 main merchants/exchanges said no to a new CODE change. then the code change shouldnt happen. because pools wont use a code that means they cant spend their coins with the top merchants.
users wont spend their coins using a code change which doesnt allow them access to merchants.

so what you will find is users and pools usually follow the money and follow the main merchants decision that allows the users/miners to be able to continue using their coins..
there no point accepting code which stops your spending habits. and no point denying code which merchants do adopt, again preventing spending if you oppose the merchants

so the oligarch would get merchants on their side and then get bitcoin code changes implemented that benefit the oligarchy and main merchants

some think it is not a possibility. but think about it
imagine a merchant has $1m. and pays 20%  business tax  ..... IRS now has $200k
imagine the merchant then pays out salaries
the 800k goes to staff.. those staff then pay their income tax of 20%(160k)..... IRS now has $360k
staff spend the left over $640k to merchants


imagine merchants has $640k. and pays 20%  business tax($128k)  ..... IRS now has $488k
imagine the merchant then pays out salaries
the 512k goes to staff.. those staff then pay their income tax of 20%(124k)..... IRS now has $612k
staff spend the left over $388k to merchants

repeat repeat

.. now imagine the foolish notion of paying taxes in bitcoin. to give bitcoin to the IRS

But everyone has a different definition of rich. If they knew that one day they would champion bitcoin then they'd also be aware that would greatly increase the price. Paying a surplus at current price levels might look like a very cheap deal 10 years from now. And as much as you're right and there will always be people who don't want to sell I think they're a small minority, most people have a price, especially those who are maybe a little older and have a few more commitments. Right now bitcoin isn't as easily spent as fiat and some people will want to spend some of their accumulated wealth while they still have chance instead of holding bitcoin for the benefit of future generations.

well for sure they gonna control it, if they just want to shut it down it will be waste of energy and money if they mine it that need some crazy setup to gain a ton of BTC circulation and if they bought it that gonna need lot of money too. if they really do that thing and sell all of the BTC together so the price dump they still lost lots of money cause they bought it at an expensive price

I don't see that happening honestly. I mean more and more people are joining the bitcoin scene every day, buying bitcoin and "hodling". The Banksters don't want to get people rich so If they decide to control most of the coins, they'll have to make a lot of people rich (fiat) in the process (since its a matter of supply and demand). Not to mention that there will always be people who don't want to sell.

If by "supply" you mean "newly minted coins", then Bitcoin is finished. If anyone has 51% it is bad, but if it is government specifically, then RIP Bitcoin, I will be dumping and going for Dogecoin.

Would it be fair enough to assume that the project has failed, or failing?

90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".