40% of the World’s Bitcoins Are Held by Just 1,000 People

[Zippyjuan]

you are a contrarian indicator.

Buy bitcoin! Become a millionaire! Eat McDonald's daily and be thin and live to 1000!

[Occam's Banana]

40% of the World's Bitcoins Are Held by Just 1,000 People

Think the rise in bitcoin prices is the market at work? Maybe it isn't.

100% of the world's T206 Honus Wagner baseball cards are held by just a couple of hundred people.

Why should this make us think that the rise in the price[1] of Honus Wagner cards is not the market at work[2]?



[1] Originally sold for pennies (along with a pack of cigarettes), most Honus Wagner cards are now valued at hundreds of thousands of dollars. One of the cards - known as the "Jumbo Wagner" - has sold for over three million dollars.

[2] Note also that the value of a Honus Wagner card "isn’t based on any underlying asset, but rather largely on human sentiment" - and that the prices of the cards are often the product of "collusion" between the holders of the cards and large institutions (such as Christie's or Sotheby's), who together set a minimum "reserve" price.

[Suzanimal]

I once rode an Amtrak train from Los Angeles to New York. I'll have to tell you about it in one of the SJW or Russian conspiracy threads.

Meh, go ahead and and tell it here. It's certainly more interesting than the op.

[muh_roads]

Bitcoin never promised to get rid of wealth classes.

What it promises is that your value can't be inflated away by the Juden.

[FSP-Rebel]

[gaazn]

40% of the worlds wealth is probably controlled by 1000 people.

[CCTelander]

100% of the world's T206 Honus Wagner baseball cards are held by just a couple of hundred people.

Why should this make us think that the rise in the price[1] of Honus Wagner cards is not the market at work[2]?



[1] Originally sold for pennies (along with a pack of cigarettes), most Honus Wagner cards are now valued at hundreds of thousands of dollars. One of the cards - known as the "Jumbo Wagner" - has sold for over three million dollars.

[2] Note also that the value of a Honus Wagner card "isn’t based on any underlying asset, but rather largely on human sentiment" - and that the prices of the cards are often the product of "collusion" between the holders of the cards and large institutions (such as Christie's or Sotheby's), who together set a minimum "reserve" price.

Clearly there must be some sort of bankster driven Honus Wagner conspiracy afoot.

[muh_roads]

I think McAfee is going to be eating his dick. lol