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Bitcoin wealth distribution

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    #2
    Matt Simis
    Registered Users Posts: 8,718 ✭✭✭Matt Simis


    Last time I looking into this it turned out most of the top addresses are exchange own master wallets, holding many peoples funds, not individual people as commonly reported.. dont have time to read the article now but did they address that?


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    #3
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    Matt Simis wrote: »
    ...dont have time to read the article now but did they address that?

    They address it and completely neuter their own clickbait. Plus no mention of the 25-30% of coins estimated to be lost forever.


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    #4
    RunUterRun
    Registered Users Posts: 7 ✭RunUterRun


    Thats a really terrible infographic.


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    #5
    BrokenArrows
    Registered Users Posts: 7,500 ✭✭✭BrokenArrows


    grindle wrote: »
    Plus no mention of the 25-30% of coins estimated to be lost forever.

    Is there any thought behind this as a long term problem with crypto?

    If someone loses cash in the majority of situations it will find itself back into circulation. If someone loses crypto it is impossible to recover.

    Say Bitcoin or any other crypto eventually becomes all powerful and replaces Fiat. Over a lifetime the % of lost crypto would increase hugely.


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    #6
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Kuva wrote: »
    Cryptocurrency Concentration - Just 4% Own Over 95% Of Bitcoin
    If that were accurate, which it probably isn't... is this not worse?
    Wiki wrote:
    • Half of the world's wealth belongs to the top 1%,
    • top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth,
    • top 30% of adults hold 97% of the total wealth
    https://en.wikipedia.org/wiki/Distribution_of_wealth

    Bitcoins aren't exactly accessible to own like fiat currency.


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    #7
    BrokenArrows
    Registered Users Posts: 7,500 ✭✭✭BrokenArrows


    People always complain about wealth inequality, but its just the way human nature and economies work.

    If you put a million random people in one place with identical quality of life (salary, accommodation etc) in a very short period of time there would be a huge wealth gap.

    Some ambitious people would start businesses and earn the vast majority of the money.
    Some people would lose all their money (bad luck, drugs, gambling, stupidity).

    At the same time why would we want wealth equality. Why should the guy who is crazy ambitious and works 18 hour days to make his business succeed be in a similar financial position as someone who is happy to work as a shelf stacker in Tesco for the rest of their lives.


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    #8
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    https://www.youtube.com/watch?v=X2Qsz4eaSPY


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    #9
    S.M.B.
    Registered Users Posts: 9,358 ✭✭✭S.M.B.


    BrokenArrows wrote: »
    People always complain about wealth inequality, but its just the way human nature and economies work.

    If you put a million random people in one place with identical quality of life (salary, accommodation etc) in a very short period of time there would be a huge wealth gap.

    Some ambitious people would start businesses and earn the vast majority of the money.
    Some people would lose all their money (bad luck, drugs, gambling, stupidity).

    At the same time why would we want wealth equality. Why should the guy who is crazy ambitious and works 18 hour days to make his business succeed be in a similar financial position as someone who is happy to work as a shelf stacker in Tesco for the rest of their lives.
    In fairness it's a lot more complicated than this and I can't see Bitcoin magically putting an end to the inbalance either.


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    #10
    Anthracite
    Closed Accounts Posts: 805 ✭✭✭Anthracite


    BrokenArrows wrote: »
    People always complain about wealth inequality, but its just the way human nature and economies work.

    If you put a million random people in one place with identical quality of life (salary, accommodation etc) in a very short period of time there would be a huge wealth gap.

    Some ambitious people would start businesses and earn the vast majority of the money.
    Some people would lose all their money (bad luck, drugs, gambling, stupidity).

    At the same time why would we want wealth equality. Why should the guy who is crazy ambitious and works 18 hour days to make his business succeed be in a similar financial position as someone who is happy to work as a shelf stacker in Tesco for the rest of their lives.
    I guess one obvious difference is that the person working crazy hard or starting a valuable business is actually doing something that benefits society, rather than just hoarding Bitcoin from an early date.


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