About 40 percent of bitcoin is held by perhaps 1,000 users
This is what is wrong with the bitcoin world.
Never understood why that was an argument against bitcoin.
1% of people own 99% of global resources and it never seemed to bother anyone.
There's huge numbers of bitcoins in addresses that haven't moved since the early days. Nobody's sure if they are owned by anyone or the result of lost private keys. There wasn't much incentive to do backups when bitcoin was practically worthless, and broken hard drives or pen drives could have cost whales their fortunes.
I read about one whale whose 10000 bitcoins are on a broken laptop at the bottom of a landfill. How many more like him are too embarrassed to admit their mistakes?