KEY STAT: Just 2 percent of Bitcoin wallets now control 90 PERCENT of all Bitcoin - and yet after crypto donors spent millions on the election, there's now a push to force federal and state governments to bolster Bitcoin with YOUR taxpayer money. https://buff.ly/3Cgs1j2
@davidsirota Well, we all know what's happening here. The name for it is oligarchy. Although kleptocracy also applies.
@davidsirota Aren't those wallets holding the bitcoin for users of exchanges etc? I'm all for self-hosting your keys but the majority don't.
@davidsirota So what? There are probably millions of abandoned addresses all of which fluff up the total.
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
@davidsirota
We simply CAN NOT ALLOW this people!! It's a total ploy to trash the dollar for billionaires, oligarchs, sex traffickers, criminals of every ilk... They will crash the market and remove the FDIC insurance from banks so we are left with nothing. Check out Project 2025. That's the plan. Then we are all slaves to our corporate overlords begging for scraps. Too extreme? Read the 2025 manifesto.
@davidsirota Yes, this is one of the most disturbing things that is going to be forced on us in the new fascist regime. People need to know this and understand why it's being pushed. We will be the losers. Billionaires will walk away in broad daylight with the U.S. treasury and become trillionaires.
@davidsirota
I like crypto because it means Wall Street banks no longer have a monopoly on finance. Of course bitcoin has problems of its own, but that's why we have newer cryptos like ethereum and monero that are IMO strictly better.
@davidsirota Not that I am for this but "2 percent of Bitcoin wallets now control 90 PERCENT of all Bitcoin" is kind of an odd headline. It is misleading since nearly 1/2 of BTC wallets have a balance of >$100 and probably a vast number inactive. I would also assume most of the big wallets are exchange wallets, so not really singular owners.
I am all for bashing the idea but when we use questionable statements it discredits the effort. We are awash in mis/disinformation which leads people to disbelieving everything.
Anyway, I am not sure what the actual proposal is in any case or if there is one. Or if there is one, that is what will actually happen.