The Pareto Principle says that, for most cases, roughly 80% of the effects result from 20% of the factors. Nowadays, there are those who say that this ratio has changed from 90% to 10%. Does this rule apply to bitcoin?
So 80% of Bitcoin belongs to 20% of miners. Is this expression true to you?
So 80% of Bitcoin belongs to 20% of miners. Is this expression true to you?
The process of concentrating large amounts of bitcoin into the hands of a few people or a few companies is normal(unfortunately,and this might become a problem for bitcoin in the future).
It`s like the process of concentrating the capital into a few big corporations and killing the small competitors.
This is the nature of capitalism and bitcoin can`t be different.
Yes, that could be a big problem. In the capitalist system, an elite class of 1% owns the vast majority of money.
Those who have money are the ones who have the strength. But because normal currencies are under state control, even if the amount of money goes down, the new ones can be printed.
But the number of bitcoins that can be removed is limited. Once all the bitcoins have been dig, no new bitcoins will be produced anymore. In such an environment, those who own 99% of bitcoin will have everything.
