In Bitcoin, wealth ≠ power
Ideas to take with you.
- 01
Purchasing power and rule-making power are two different things – a debt-based money system fuses them; a money nobody can issue keeps them separate.
- 02
Interest-bearing money requires perpetual expansion because the interest owed was never created alongside the principal, which forces continuous new issuance somewhere in the system.
- 03
New money enters near the top of the power structure before it disperses, which is the mechanism – not the intention – by which wealth compounds into rule-writing influence.
- 04
In Bitcoin, holding a large share of supply does not grant authority to change the rules; that authority sits with independently run nodes validating each block.
- 05
Wealth in a fixed-supply system can buy influence for a time, but not forever – it must be replenished through value creation, because it cannot be replenished through issuance.
