Will Trickle-Down Economics Reduce Crypto Wealth Concentration?
No, Trickle-Down Economics Will Not Fix the Problem. Many crypto fans, especially crypto whales, cling to the fantasy of trickle-down economics. For example, a decade after Bitcoin was born, they still believe, as a matter of faith, that these are early days and the crypto markets will eventually become less concentrated over time. If they understood economic history and the economic data associated with the decline of real median income and wealth in the U.S. and all other advanced economies, they would not be so easily deceived by this fantasy. In other words, there is no credible evidence whatsoever that trickle-down economics has ever worked in the fiat world; so, there is no rational reason to believe that it will ever reduce the concentration of wealth and power to a sustainable level in the crypto world.
Unprecedented Debt Masks a Disturbing Reality. The only reason that Americans and many people in the Western world have been able to experience a relatively high quality of life over the past generation is because they have been drowning in debt. That debt has masked a disturbing reality: Gigantic banks and corporations and their largest shareholders have siphoned off the vast majority of wealth from humanity. Without accumulating more debt than any civilization in human history, between 80-90% of all Americans today would be living in developing world conditions. The same is increasingly true in many other countries.
Stock Market Gains Are a Fantasy for Most People. Many people assume that the temporary gains in the stock market actually help the middle class. That fantasy is easily debunked with the real, long-term economic data, as illustrated in the charts above. For all these reasons and many more, the Gini cryptocurrency is based on much more sustainable and equitable monetary principles.
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