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b_b · 4063 days ago · link · · parent · post: Kevin Rose interviews Brian Armstrong, founder of Coinbase
To me, it's turning into a joke played by a few rich techies, the butt of which is all the possible investors and users. Bitcoins are super concentrated into the hands of a very few people. They aren't being produced at a rate that's going to dilute that concentration. So, the only way to distribute them efficiently enough to actually be used transactionally is for these few people to sell, and sell a lot. Can you imagine if a hand full of people owned half the supply of USD? It'd be chaos, and a national security threat. That is a way bigger barrier to usage than the practicalities of storing and exchanging, which are mere technical issues. What I'm taking about is a structural issue.