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Bitcoin, Crypto and Wealth Inequality

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by COINS NEWS 262 Views

I'm a recent crypto enthusiast. I've loved getting involved in the community and believe crypto is certainly a force for possible good in the world.

However when watching snippets of the conference, something hit me that I think isn't discussed enough. Everyone on that stage probably, surely, owns 1 bitcoin+. If bitcoin continues to be adopted, they will all certainly be supremely rich.

Which leads me to a skepticism of the popular narrative that crypto is something that will help break the traditional power structures of government enforced fiat driven enconomies. Surely, if the crypto utopia 30 years down the line transpires, we won't see a a power to the people situation, instead we'll just have a crypto oligarchy based on who adopted early. That surely is not something we desire? Or maybe for the people here it is.

But Nakamoto didn't seem to be promoting a new oligarchy, he seemed by all accounts to want a financial system that people was fairer, more open and more inclusive. A lot of this bitcoin whale keynote speakers simply seemed to want a new system and transferral of wealth because it left them at the top.

I feel like smarter and more involved members of the community can set me straight here or provide nuance, but I also worry that this is something that isn't discussed enough. The pool of current HODLers is even more narrow than the current 1%, and the crypto utopia could well become a dystopia.

Thoughts and opinions very welcome!

submitted by /u/craftsta
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