525 sats \ 8 replies \ @elvismercury 4 Mar \ on: The Catalyst That Could 'Standardize' Bitcoin bitcoin
Okay, just read the post. Here's my question:
For the people, like QTR in this article, whose argument is basically "Btc is an opportunity to get our revenge on The Man, and politicians, and other rich assholes who have ruined the world", how will they feel about the fact that the distribution of btc is even more skewed toward the The Man, the politicians, and rich assholes than the distribution of fiat was?
I am really asking this question. While there's some obvious upheaval in who is btc rich vs who is rich, just as happens in every revolution, on net the btc rich are the very people who have a bunch of extra income to invest on a lark, also as happens in every revolution.
Do people not know that? Or do they not care, for some reason? Or am I wrong, for some reason?
I'm glad you raised this. Your point is really what depresses the hell out of me about Kreuger. This dismissive "grow up, the big boys are in charge now" , while Anita Posch is working each day to help the global south play catch up. The ETFs have exacerbated all this obviously.
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If I were to rebut myself, I would say something like:
The distribution of the future system will be drastically skewed toward the people who are winning in the current system, just as always; but, once the new system starts, that skewed distribution will smooth out, and no state manipulation can keep it from smoothing out, and that's better than we've ever had before.
Which I believe. But it's a more nuanced point than I am accustomed to hearing, which really gives me pause. What will the backlash be, when rich assholes continue to parade around being rich assholes, except they've got massive gainz from btc? Does the whole maxi community implode? Or are they cool, bc now their god-kings are amongst the elite?
And the angry guy who works at a gas station, who made a little money with btc, but is still at the bottom, what's his story going forward?
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No easy answers, but these are important questions we should think about now.
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Did you see Krueger's crass, attention seeking attack on Lyn Alden yesterday ?
Lyn responded with her usual grace, but also smacked him down (and brought the receipts).
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I did not see this. The tweet would have been fine without that gratuitous Woody Allen crack at the end. The term smug douchebag comes to mind.
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That's also the term that came to mind for me.
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Man, Lyn is impressive. I can't offhand think of another person who, each time there's a dustup, I come away thinking of more highly. Quite a role model.
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You probably aren't wrong. Maybe it's human nature.
But I think one element to add here may be that changing the financial system introduces a bit of chaos into things. Like shaking a snow globe. Some of the establishment fall and some new people become a part of the establishment.
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