What does it matter if the government did end up holding a majority of the coins? This isn't a Proof of Stake protocol, you know?
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Bitcoin's hard cap, while intended to create scarcity, could backfire. It might allow those who accumulate Bitcoin early on to exert undue influence, effectively replicating the centralized control of traditional finance. This is a valid concern. If a small group controls a significant portion of the Bitcoin supply, they could manipulate the market or restrict access for others.
How could exert undue influence? You're just talking about free market activities like buying and selling, right?
And why does it sound like you got an AI to write this response?
"effectively replicating the centralized control of traditional finance" - okay you definitely got an AI to write this. And it doesn't know what it's talking about.
Traditional finance is hooked into a permissioned, fiat, printable monetary system. That's where it gets its centralized control.
Send this comment to your retarded LLM friend and point out how Bitcoin works exactly opposite to this and see what it says. Post its reply here, if you dare.