Over 2,1M of the total supply, making it more than 10%, are in the hands of financial institutions, yes those same financial institutions mentioned in the white paper that bitcoin is supposed to helping us unplug from.
The NGU! yup... Thanks to anyone buying STRG, MARA, XXI, RIOT, META, etc. Thanks to anyone capitalising fiat when placing precious BTC into treasury companies. Thank you to anyone signing loans baked by kyced bitcoin. Y'all are doing a great job centralizing bitcoin. Y'all are doing a great job supporting your personal short-term interests.
@remindme in 5 years
... aaaand everything will tokenized...
The important question is if it goes up 10-100x how diamond will their hands become?
Could not resist #1454433
I agree with the sentiment but it was never possible to be a different way. Bitcoin is an open system and anyone is free to adopt it, even the "enemy". My hope is that it is a sort of trojan horse though and by allowing it into the system it will eventually grow enough to make them obsolete.
100-fucking percent. Mildly infuriating development
This is the fundamental tension. Bitcoin was designed to separate money from state, but the path to adoption runs through the very institutions it was meant to disrupt. The question is whether Bitcoin changes them, or they change Bitcoin.