In the future, things will change.
The moment bitcoin activates segwit, your whole stupid thesis falls apart in your face.
I don't think so. The whales have no incentive to allow it to change. The whales (miners and hodler whales) have and will continue to block SegWit and any other changes which remove their mathematical economic dominance as I described it. @dinofelis and I seem to agree on this point.
I even claim that Satoshi premeditated designed it this way. Of course whenever I claim that, it causes @dinofelis to accuse me of being delusional and having a confirmation bias.
That's why they are testing out PoS and other non-PoW proposals.
This will never happen for the reason I stated above and also because of the huge investment in ASIC mining farms and ASIC engineering (e.g. Bitmain).
Litecoin has been designated the offchain (thus regulated) scaling coin. Bitcoin will remain the on chain, unregulated but only for those who can afford to pay the egregious transaction fees that are coming in the future years.
The whales make up over 80% of all bitcoin supply, leaving only <20% to the bottom 90% and that makes little financial difference whether to retain or oust them out of the blockchain. And 0.1% fee is already a reality today with all the minnows.
You have unjustified nightmare imagination.
That is not a refutation of the math I provided.
You seem to have difficulty comprehending the math, as evident by your reply which makes no logical point w.r.t. math I provided.
1. If ALL the minnows are completely 100% out of bitcoin blockchain, then WHO will pay the fee to feed the miners? Nobody! Then what's the point of pushing the minnows out? There is no point.
I already stated that the dolphins (those who are $millionaires now) will. They will pay the high transaction fees because they want to transact on chain, unregulated.
The minnows are entirely worthless and insignificant. As usual, the sheep are pushed out on to the regulated farm so they can be harvested for economic parasitism by the shadow elite.