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.
While Bitcoin represents a form of resistance to the traditional financial system and aims to provide equal services, in reality, power is also shifting into the hands of these active and tech savvy individuals. This could be a transformation of power from traditional institutions to individuals, which is one of the core goals of blockchain technology and cryptocurrencies.
The inequality or inequity lies in those who have great wealth, this benefits them in terms of buying bitcoins in large quantities and they continue to accumulate them. Their large Bitcoin holdings allow them to significantly influence the market price, strengthening their position in the ecosystem. This creates a kind of ownership inequality similar to the inequality in the traditional financial system.