But at least a small minority of people won't be able to freely print more of it and give it to themselves, their family, and their friends.

So, yeah, Bitcoin doesn't fix everything but it's still an improvement on the status quo

Well, it's essentially wrong.

Others have written better about it than I have, but I did do some online "research" on this about a year ago for my very small readership and I tried to summarize what I learned.

As far as I can tell based on data and analyses published by others, (a) Bitcoin's wealth distribution isn't actually that bad, and (b) the trend lines in Bitcoin are the exact opposite of what has been happening with fiat.

In the fiat system, the "rich" (top 0.1%) have been getting a bigger and bigger slice of the pie, and the share held by the bottom 90% has been getting smaller and smaller.

Meanwhile, in the Bitcoin system, the whales have been gradually dwindling down their share of total supply, while both "retail" and the "public" at large (exchanges, ETFs, and public companies) have been growing their share of total supply.

[See the two graphs in my summary.]

Analogous to other criticisms of Bitcoin, it's easy to criticize the new system for issues inherent in being new (still growing into its future role). But look at the trend and the difference is clear as day.

I don't see Bitcoin as utopian money that is magically going to solve our issues. Bitcoin is marginally better than gold and significantly better than fiat. It IS the best money we have ever used as a species and therefore, I believe it will continue to grow in market cap. However, I won't be at all surprised if 300 years from now, the human race has discovered something better. If Bitcoin can bring us a marginally better world for the next 300 years where the purchasing power of billions cannot be arbitrarily diluted, the network will have fulfilled its noble purpose.

Let's look at this from a different angle.

Imagine Satoshi could've somehow magically distributed an equal amount of Bitcoin to everyone in the world. And also assume nobody wants fiat anymore. Basically a complete reset.

For a brief moment everyone is equally wealthy. And at the same time equally poor.

But it's what happens next that matters most. As soon as you need to eat you need to spend some of your Bitcoin to buy food. You need somewhere to live and clothes to wear.

In other words, the Bitcoin begins to redistribute to those who provide value and away from those only consuming. Eventually the wealth will be unevenly distributed again.

The difference is that nobody can print. They have to provide value to receive more Bitcoin.

I understand the data to suggest early adoption whales are selling & will be for the rest of their lives.

I've thought about this before. Since I view Bitcoin as a more fair currency than fiat, the issue of wealth concentration bugged me. I found this article insightful.

vs fiat wealth concentration

Bitcoins distribution isn't equal, but it is fair. If it's distribution was equal, it would not be fair. I believe bitcoins fair rules will lead to a more fair distribution over time compared to fiat.

its true. a small percentage hold most of the wealth its probably even worse than the 1 percenters with fiat.

Thanks to all users for all your input. You've each given me some homework to do. Until then, it wouldn't do your replies any justice to comment further without more reading. ✌️🧡