Oddbean new post about | logout
▲ ▼
bostonwine | 11 months ago (raw) | root | parent | reply | flag 
 I’m curious though, are you describing my initial thought as coping with a skewed distribution toward early bitcoiners, or coping with the fact that “institutions are coming”?
▲ ▼
a5fc73e1 | 11 months ago (raw) | root | parent | reply | flag +1 
 Skewed distribution.

Power corrupts, absolute power corrupts absolutely.

Sadly, there is no solve for this problem unless those that have the largest wallets distribute their majority amongst the masses.

I’d also hesitate assuming the institutions are coming en mass.

Why would institutions adopt, en mass, a currency which will eventually topple them over?

They’ll cling to the dollar till the last Weimar mark.
▲ ▼
bostonwine | 11 months ago (raw) | root | parent | reply | flag 
 Interesting. I started thinking about this from a place of un-ease around the ETFs, not the skewed distribution. The fact that individuals who care about Bitcoin hold more Bitcoin than BlackRock gives me hope that the balance of power will be more fair than it has been before.

It’s hard to know what the future holds, both short term and long term. But the same way that individuals who have been paying attention hold Bitcoin today, we should expect institutions to want the hedge as well.
▲ ▼
a5fc73e1 | 11 months ago (raw) | root | parent | reply | flag +1 
 Institutions aren’t taking it seriously.

Nor will they.

Maybe in LatAm first.
▲ ▼
a5fc73e1 | 11 months ago (raw) | root | parent | reply | flag 
 Satoshis wallet is supposedly dead.

The rest, until you get to the bottom are custodial accounts.

Then, you have the Winkle bros.

You trust those POSs to do the right thing? 😆 https://image.nostr.build/29d3e21b77520a091f861ccba896bdcd67828e71f967bcbbd2457fd700a0a0cd.jpg