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Re: Interesting topic in Economics
by
whitenight639
on 15/03/2013, 02:08:57 UTC
That article has a few points that need addressing,

ok for a start compare that to a wealth distrubution of USD and you might find that that much more of the wealth is in the hands of a few in the case of USD,

Secondly I doubt any of the creators and wealthy early adopters would sell out in one lump, it would be a costly move for them as the exchange rate would crash and they wouldn't get the same amount, if they sold off there wealth in small chunks over time they would get the best price and it is easy to do with bitcoin, I suspect a few slighly less wealthy already are.


Considering there is around 10m Btc in circulation and the richest person owning 2.8M (claimed by the table in your link) it is not that bad, I suspect Satoshi Dice could be A.


Also why would a wealthy early adopter cash out a large sum now if the price is still rising and could be worth $100 or $1000 next year, it wouldnt make sense for them to dump there wealth on mtgox,

As bitcoin is growing it will be able to absorb more and more volume of these "dumps"


really though threats to bitcoin come not from these early adopters (which contrary to this article) may actually have good intentions for bitcoin as a whole. The threats to nitcoin are from the technical nature of it, a hard fork is likely to happen at some point, other technical bugs and community devision could break bitcoin, also government intervention could makes some services unavailible in some countries.


But really these are still early days so you can still be an early adopter, there is no telling what price people will pay for bitcoin if something disastrous happened to there countries fiat supply.