Does “whales“ owning a lot of bitcoin mean that value has to “trickle down” to average people?

Is Bitcoin OGs, original Bitcoin holders that own a lot, or Bitcoin whales, which are people that own a lot of Bitcoin, does that Bitcoin have to quote trickle down end quote, to the average people in order for the average person to benefit from Bitcoin? And is that going to work out like the 2008 financial recession where they were supposed to the government claimed it was pumping a bunch of money into Wall Street to benefit Main Street and the trickle down in a lot of ways never happened. Uh the answer to all of this is no. That is not how Bitcoin works and I'll walk through it. Okay. So, some people have a lot of Bitcoin. Uh for reasons I've covered on a lot of videos, OG Bitcoiners, original Bitcoiners have a lot less Bitcoin than people think because they did what everybody does when they start feeling wealthy. as the price of Bitcoin went up to like a dollar, they were like, "Wow, I've got 10,000 Bitcoin. It's worth a dollar." And they spent 5,000 of those Bitcoin for $5,000 to buy a used car. I mean, just that's what people do when they get when they feel wealthy, they improve their lives and the lives of their families. And that's what OG Bitcoiners did. So short take is the very early Bitcoiners own a lot less Bitcoin than people realize because those Bitcoiners first of all you know a lot of that very early Bitcoin got hacked or SK you know hacked on cryptocurrency exchanges like Mount Gaus or uh Coinica um I can't remember the names of all of them but anyway short take is a lot of people lost Bitcoin in the early days because the the market was not welldeveloped and there was not good ways of holding Bitcoin because the technology was so new That's obviously not been a problem for like the last 10 years, but in the first six years of Bitcoin, that happened a lot. So, a lot of people in the early days lost their Bitcoin due to hacks or they just lost it because it wasn't worth very much. And so, they threw it away at an old computer hard drive and it had 500 Bitcoin on it, but it was only worth, you know, 10 cents a bitcoin and they thought it just wasn't worth keeping. And then obviously it ended up being worth a lot of money and it was gone. So anyway, and in that case it creates uh less Bitcoin and that means the purchasing power of the remaining Bitcoin goes up. It's like a prorat a gift to everyone who owns Bitcoin. Uh but anyway, all that to say the original OG Bitcoiners don't own nearly as much Bitcoin as any as people think they do. But let's assume they did. For the c sake of argument, let's assume they did and that a small number of people ended up with a lot of Bitcoin. Even though it's going the reverse direction with every passing day, the 21 million Bitcoin is getting more and more distributed to more and more people in the economy. It's not going the reverse direction. It's actually going it's go it's getting more distributed and more uh equitably distributed over time, not less. But again, let's assume that there's OG Bitcoiners that have a bunch of Bitcoin and talk about how that would work. First of all, it's completely unlike the 2008 recession because what happened in 2008 recession is the government printed a ton of money out of thin air, gave it to Wall Street, and told them, you know, go spend it and eventually it'll benefit Main Street. The problem was when you do that with new newly created money, what happens is it creates inflation and that inflation is felt by Main Street, not Wall Street. And so by the time the money actually does trickle down, the inflation has eaten up all the purchasing power and everything is actually, you know, living your life is actually harder. So Bitcoin is fundamentally different in that there's no concept of trickle down economics with Bitcoin because there's nobody printing money at the top of the food chain. In the sort of the classic example of trickle down economics, a bunch of money is printed up at the top of the food chain, handed to the fat cats on Wall Street, and the money eventually trickles down to the average person. But by the time it does, so much inflation has been caused that the average person has less purchasing power than though they did before the whole shenanigan even, you know, the whole charade even started. So, Bitcoin does not work that way because there's no way to give those people at the top new Bitcoin that causes inflation. So if an OG Bitcoiner starts has a lot of Bitcoin and starts spending money, they're not making new money out of thin air. That Bitcoin was always there. That purchasing power got there and is has, you know, it's essentially potential energy that is being expended. And so let's talk through what an OG Bitcoiner can do with their money. So an OG Bitcoiner first could hoard it, right? So they could just sit on 10,000 Bitcoin and not give them to anybody. Well, in that case, they've taken 10,000 Bitcoin off of the market, which makes all of the remaining Bitcoin more valuable because the remaining Bitcoin is not competing for the purchasing power of the 10,000 Bitcoin that are not on the market. So, if somebody hoards Bitcoin, they're actually increasing the purchasing power of everyone else's Bitcoin, which is good for everyone else. If an OG Bitcoiner spends their Bitcoin, what are they going to do? Let's use like the sort of exorbitant example. They buy a yacht. So, an OG Bitcoiner buys a yacht and everybody's like, "Oh, that's totally not fair. How does that, you know, benefit the average person? Well, okay, let's say an OG Bitcoiner uses 10,000 Bitcoin or 5,000 or whatever 1,000 Bitcoin to buy a yacht. Well, what's going to happen to that Bitcoin?" The answer is it's going to go to the company that makes the yacht. And then that Bitcoin is going to get paid out to everyone who worked on making that yacht. And when the yacht is all completed, the OG Bitcoiner is going to have 5,000 less Bitcoin and the yacht will be, you know, completed and delivered. And that 5,000 Bitcoin will now be in the hands of all the people that worked on that yacht. So there's no way for an OG Bitcoiner to hoard the Bitcoin without benefiting people because it increases everybody else's purchasing power. There's also no way for them to spend the Bitcoin without benefiting all the recipients, which again, when all the dust settles, the OG Bitcoiner has 5,000 less Bitcoin and a yacht. And all the people who built that yacht now have, you know, some of the workers have one bitcoin, some of the, you know, have two bitcoins. However long it take took to make the yacht, and however much all the people got paid in the process of making that yacht, that bitcoin has been thoroughly distributed to all of the people that work to make that yacht. Okay? So the OG Bitcoiner could, if they don't hoard it and they don't spend it, they could invest that Bitcoin in companies, but again, all they're doing in that case is giving that Bitcoin to a company that's going to result in that Bitcoin getting distributed by that company to their employees. So because there's no new money getting inserted into the top of the funnel to create inflation that undermines the purchasing power of everyone, there's nothing that OG Bitcoiner can do with their Bitcoin that does not benefit everyone. Again, they hoard it, it benefits everyone. They spend it, it benefits everyone they spend it with, or they invest it, which benefits everyone that is hired or receives the proceeds by the company that they invested it in. So again, the big difference here is there's no central money printing. There's no power structures that allow uh for money created out of thin air and therefore the requirement of trickle down economics. the way the fiat system works, the US government dollar system works, which ends up screwing everybody at the bottom, because the money that's printed out of thin air at the top, for example, in the 2008 recession where I think the M2 money supply like doubled. They printed like $4 trillion out of thin air and it went from like 2 trillion or whatever it was. It went from two trillion to 4 trillion. I can't remember what it was. they like doubled the money supply and of course prices eventually went up over time and either the money never did trickle down or by the time it actually did most of that money was used to just bail out banks and Wall Street um but any money that actually did trickle down to anybody eventually again they had inflation by the time that happened so their purchasing power had already been undermined all right so let's speak to do people with a lot of Bitcoin have a lot of power not the way the fiat system works with the fiat system the money printer with the Federal Reserve and government spending is always sitting at the top of the pile. It's always playing king of the hill. And because that's where all the money is, if you have a lot of money, you can influence a lot more money. So, if you have a lot of money in the fiat system, you can control to some degree. It's really hard, but theoretically, you can hire lobbyists and all of that and they can go get appropriations. So you can spend, for example, $1 million in order to go get $10 million appropriated from the federal government to your benefit. And that's like a 10 to1 return on investment. But again, that is only possible because there's a magic money printer in the sky and government spending can be, you know, made out of thin air by the Federal Reserve and spent by the Treasury and all of that. If you take that off the table, then all the lobbyists and all the fat cats on Wall Street and everybody else, they don't have the ability to go hire a bunch of lobbyists to go chase a bunch of free money that's going to dilute the purchasing power of everyone else. All you can do if you have a lot of Bitcoin, um I mean again, like why would you go lobby the government? What are you going to lobby them for? I mean, you know, there's not a magic money printer to go chase money around. So in that situation, in a world where the whole system runs on Bitcoin, there is a lot fewer powerful people and there's just a lot less power to go around. And so if you believe that power corrupts and absolute power corrupts absolutely, then you want to live in a system, a monetary system where the uh there is not power because that power inevitably gets used against the least of these and those with the least power. Um I saw this uh meme which I thought was great which is which classic circular reasoning. It's in a circle that it says you know people are bad therefore we need government of and then the circle starts again bad people you know people uh you know bad people are bad so we need government you know of bad people are bad so we need government of bad people are bad. So the point it was making was, who's going to be in the government? If you think we need government to keep bad people in check, well, who do you think the government's full of? Those same very bad people with horrible incentives. And nobody in the government's a saint. Come on, give me a break. So in a world with that is in an exclusive Bitcoin monetary standard, a huge amount of the shenanigans and stupidity and lobbying and appropriations and just, you know, reckless everything and unjust and unfair everything. A huge amount of that goes away. Again, are there some people that have more Bitcoin than others? Yes. But in a Bitcoin standard economy, when the world's on a Bitcoin standard, to get that Bitcoin, you have to create value somehow. You have to convince someone with Bitcoin to give it to you by creating value for them, doing some good or service or, you know, creating a product or something like that. In a fiat system like the US dollar, fiat meaning made up by government, um, you know, where government creates value by fiat, which is by dictate. In that world, you don't have to actually create any value. you just have to out lobby the next guy in Washington DC. So I think the world on a Bitcoin standard would be much more fair, much more equitable. Again, there would be, you know, people with more Bitcoin than others, but over time, as I covered in a previous video, you know, over time people die. They, you know, the kids inherit their wealth, the kids squander half of it, the other half goes to the grandkid, grandkids, and the grandchildren squander the other half the wealth. there's there's almost never any wealth left unless you're one of a very small number, you know, like the Carnegies or the Fords or something like that. Um or the Waltons. I mean, there's usually just not much wealth left after the grandkids. So, the wealth gets distributed. Again, if there's not a magic money printer at the top, you can't go get you get that money for you um by going to the government for you. You have to create value. So in in that world again on a Bitcoin standard it is the most compatible standard with the fallen nature of humans. So if you told me if I said hey the world needs to be on a Bitcoin standard because it would be more just. And you said yeah but there's bad people. I would say yeah that's why we need a Bitcoin standard. And you're like no you don't get it. There's really bad people in the world. I would say all the more reason to be on a Bitcoin standard. A Bitcoin standard where the entire world economy runs on Bitcoin is much more fair and just. And if the people are worse and bad and the baddest baddest people, it actually keeps those people in check much better than a fiat financial system. Because again, the worse people are or the the more you think human nature has fallen uh as I do, the more you can know that anybody in it is going to go lobby the government to get free money for themselves at the top of the pyramid and leave the people at the bottom of the pyramid with the inflation that comes from it. So, uh, so the more you think the more you don't trust people and the more you think people are greedy and the more you think people's greedy impulses need to be in check, the more you should want the world to run on a Bitcoin standard because a Bitcoin standard does a better job of keeping that greed in check, keeping power systems in check, keep keeping people from abusing other people by diluting the power of their savings. All of those things are better on a Bitcoin standard than a fiat standard. Now, is it perfect? No, because humans are fallen people. So there will still be, you know, there will we will still live in a world that is not perfect because it still has humans in it. But it will be as perfect as a world can be because a Bitcoin monetary system does not have the same problems. you know the the the total number of issues you have to deal with in a Bitcoin monetary system are a tiny fraction as as compared to all the issues you have to deal with a fiat financial system where a small number of people control how much money there is and who gets it. So, a Bitcoin system is more fair, more equitable, does a better job of keeping greed in check, does a better job of distributing the wealth through the economy based on the people's a ability to create value and earn it rather than go lobby the government better than the next person and get more of the free money at the top of the pyramid. Uh, the Bitcoin financial system is not based on trickle down economics. A Bitcoin financial system does not create inflation. And the OGs who own a lot of Bitcoin, even though, like I say, it's a whole lot less than people think they own. Um, there's really nothing they can do with their Bitcoin because they cannot print it out of thin air, there's really nothing they can do with their Bitcoin that does not benefit other people. Again, unlike the fiat system, if the if the Federal Reserve prints money out of thin air, absolutely positively, it hurts the people at the bottom of the pyramid because when those people at the top spend all that new money, first of all, they get bailed out and you know, Wall Street gets the gets the goodies and all that sort of stuff. Once all that's done, by the time that money trickles to the bottom of the pyramid, the inflation has the inflation always beats the trickle down. So by the time the money actually does trickle down, the inflation is higher than whatever benefit that additional money would have caused, resulting in everybody worse off at the bottom of the pyramid. And of course, the people at the top of the pyramid, which are the people closest to the money printer, always end up better off, which is unfair and unjust. So if you care about fairness, if you're worried about the badness and fallen sinful nature of humans, if you're worried about incentives, if you're worried about power structures, if you're worried about people hurting other people, and if you think humans in general need to be kept in check, and the financial system needs checks and balances, if you believe in any of that, then you want the world on a Bitcoin standard because that will get closer to what I believe are the biblical principles that govern in the world than anything else that exists anywhere in the world.