I really had this question in my mind and wanted to ask was that one of the core principle and aim of Bitcoin is providing equal services and treat people equally without discrimination. But If we look at it from the perspective of "Power" it is creating a new generation of people who hold power I.e the early adaptors of Bitcoin (whales) who hold significant economic influence because they accumulated Bitcoin was undervalued.
So is it really solving the problem of inequality or Creating a new generation of people who hold power and shifting the inequality into a new form?( New Elites?)
Would love to hear your thoughts.
World power or wealth will never be equitably distributed to everyone. There will always be a shift that will create new elites. Bill Gates and Warren Buffett are making way for the tech billionaires to reign.
Bitcoin was created to be a currency to serve as an alternative to fiat. It was not created to solve financial inequality. But it has become an asset held for profit-making due to its volatility. A
report showed that about 1% of Bitcoin holders control 99% of BTC supply, which means if the price keeps increasing, a new set of elites with be created.