1 sat \ 0 replies \ @timechain OP 20 Apr 2022 \ parent \ on: Adversarial discussion bitcoin
That's a good argument. I will say most metrics for coin distribution are flawed, since they include exchange wallets, which may have coins owned by tens of thousands of customers.
I once heard someone talking about "the halving" say, the price would be a lot less volitile if instead of halving every 4 years, it had a smaller decrease every year. The thing is the volitility has done a great job of keeping institutions and nation states out thus far.
Fiat is pretty unequally distributed also. It's easier to get a head if you are already ahead, that won't change with bitcoin. However, in fiat, they get to change the rules. They can benefit by making riskier gambles, and socialize the losses by tax funded bailouts paid through inflation.
Austin Hill, who was a founder and former CEO of blockstream spoke on Peter McCormack's What Bitcoin Did about some things he said bitcoin doesn't fix. He was talking about the "Vulnerable World Theory," in which as technology increases, ie, someone can easily bioengineer a virus and fly it over someone's citadel walls with a drone they built in their basement, the world becomes increasingly fragile. This causes wealth inequality to be a larger and larger issue. He also said something to the effect of "technology aside, when in history has 'the haves' ever been able to build a wall big enough to keep out the 'havenots.'"
I am also reminded of Pete Rizzo, editor at Bitcoin Magazine, who is a self-proclaimed "Bitcoin Historian." He said that part of the reason he does what he does is because in the future, after hyperbitcoinization, there will be winners and losers, and many confused and upset people, and we all will have some explaining to do.
Bitcoin doesn't solve everything, but it levels the playing fields alot. It works through people acting in their own best economic interests to create a beautiful network of value. Still, there are some things that Bitcoin doesn't solve, and Bitcoiners may have to make decisions beyond their economic interests to ensure the continuity of the human species.