We need real solutions so that the financial system works for everyone, not just for the wealthy - regulation

The crypto industry claims that crypto is the way to financial inclusion, but Bitcoin ownership focuses even more than a dollar on the top. We need real solutions so that the financial system works for everyone, not just for the rich.

Your comment was an answer to an Article im Wall Street Journal claims that the top 1% of Bitcoin owners "control a larger proportion of cryptocurrency than the wealthiest American households in dollars". Citing a study by the National Bureau of Economic Research, the author wrote that "the top 10000 bitcoin accounts hold 5 million bitcoins, which corresponds to about $ 232 billion".

Many Twitter users responded to Senator Warren's tweet. One user told Massachusetts's senator: "This is not true. The fixed Bitcoin offer means that possessions over time in accordance with acceptance, use and value creation are less concentrated. There is no other alternative to solving the money pressure problem that leads to an invisible tax for the average citizen."

Another user tweeted the senator: "Your argument is incorrect. So I assume that you do not understand it btc Krypto "-it is btc . You only recognize btc as 'crypto', while an entire gims 'crypto industry' is ignored at the transfer of Values ​​for fractions of a penny are based.

In addition, some people reminded Senator Warren that crypto is decentralized and is intended for everyone, not only for the rich. Some questioned the Wall Street Journal articles. Several people called the Senator from Massachusett's "Ignorant" and "Manipulative" and emphasized the need for education.

The Senator recently asked the regulatory authorities, "" Stable coins and decentralized financial platforms (Defi) "before it's too late". She said, "Defi is the most dangerous part of the crypto world." In July she asked the US Finance Minister, Janet yellen urgently adopted a policy to reduce crypto risks.

In September she and Exchange Commission (SEC) to tackle the problem of the failures of crypto exchanges and high transaction fees. At the time, she also emphasized that cryptocurrency was not a way to financial inclusion.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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