(Replying to PARENT post)
Crypto has the same wealth centralization problem as all currencies (so far) - it's not immune, at all. It's not because of central bank activity. Wealth just centralizes. Free market economics lead to this emergent outcome.
In principle, inflationary currencies have a force pushing away from wealth centralization, while deflationary currencies have a force pushing towards it, which is why everyone who thinks they'll have the centralized wealth likes deflationary currencies.
👤immibis🕑3y🔼0🗨️0
(Replying to PARENT post)
I don’t really care I’m just saying how it looks from the outside
👤bowsamic🕑3y🔼0🗨️0
(Replying to PARENT post)
The same argument could be made of all scarce assets that rocketed in price in the past years. Watches, the stock market, and real estate don't inherently "centralize wealth". Their price appreciation was only a symptom of the reduced cost of debt, which naturally favors the wealthiest, which reflects in the price of what wealthy people buy when they have too much money (scarce assets).
The base concept of cryptocurrency is enabling free market economies by bypassing government regulation, and at least in the case of Bitcoin and Ethereum, regulating inflation by setting it in code, instead of being opaquely decided by a few wealthy people (some of them convicted of insider-trading[1]). Those two things tend to favor bottom-up wealth creation, rather than the trickle-down model fiat currencies encourage. That's a wealth decentralization force, not centralization like you claim.
[1]: https://finance.yahoo.com/news/a-timeline-of-the-federal-res...