Wealth distribution Part I: fiat currency vs BTC [infographic]

Last updated on January 3rd, 2014 at 06:21 pm

Although Bitcoin is considered a democratic currency, its distribution is now strangely similar to the unfair division of wealth that characterizes fiat currency across the world.

Here’s a visual explanation brought to you by Bitcoin Examiner that shows how both types of currency are now distributed.

Who-owns-all-the-bitcoins (1)

Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.
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Nikolai Mushegian
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Nikolai Mushegian

Neal is totally right. That is the most deceiving chart I have ever seen.

vatten
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vatten

This chart is obviously wrong, everyone know that most of the money belongs to federal reserve banks, which is privately owned

Neal Gafter
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Neal Gafter

They only look “strangely similar” if you don’t divide them by the same ownership percentage.

It requires 4 times as many participants to get the top 30% in bitcoin (0.001 vs 0.004).
It requires 8 times as many participants to get the next 20% in bitcoin (0.01 vs 0.08).
The next section compares a group 9 times as large in the bitcoin world, and find 1/5 of the pie vs 1/3 of the money pie.

So it seems there is still a skew, but far less than in the fiat money world.

Nikolai Mushegian
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Nikolai Mushegian

Yep. Here’s a very rough chart with equivalent ownership percentage. I made this really quick, split between 0.001 and 0.1 may be off by 10% of the pie or so.

http://i.imgur.com/Sr2selL.png

Maria, have you read “How to Lie with Statistics”?

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