Is Bitcoin Controlled By The Rich And Powerful?
In this video, I discuss whether Bitcoin is controlled by the rich and powerful. Contrary to popular opinion, holdings of Bitcoin are not as concentrated as widely believed: the addresses that hold hundreds of thousands of Bitcoin are mostly just the cold wallets of large crypto exchanges like Binance and Bitfinex. The collapse of the New York Agreement (where a bunch of Bitcoin miners and influential Bitcoin companies tried to push through a protocol change but failed) demonstrates that Bitcoin is controlled by the full nodes, rather than the rich and powerful. Finally, Bitcoin whales may be able to manipulate the short-term price of Bitcoin, but they are unable to affect its long-term value. Any crashes caused by Bitcoin whale manipulation are opportunities for hodlers to buy the dip. Bitcoin is the first instance in history of the retail investor entering an asset first, and getting in ahead of Wall Street. No matter how rich and powerful you are, you cannot change Bitcoin or make it bend to your will. Not investment advice! Consult a financial advisor.
Top 100 richest Bitcoin addresses: https://bitinfocharts.com/top-100-ric…
Top 10 owners of MSFT: https://money.cnn.com/quote/sharehold…
HODL waves: https://unchained.com/hodlwaves/
Number of addresses holding at least X BTC: https://cdn.substack.com/image/fetch/…
List of backers of SegWit2x: https://dcgco.medium.com/bitcoin-scal…
SegWit2x backers cancel plans: https://techcrunch.com/2017/11/08/seg…
Map of full nodes: https://bitnodes.io/
Solana Billionaire VC’s Are Laughing At You: https://www.youtube.com/watch?v=nBHH0…
Initial token allocations: https://twitter.com/RyanWatkins_/stat…