Yes, the distribution of coins isn't egalitarian (early adopters get more, later adopters get fewer).
Yes there is a fair deal of manipulation (pump&dump and all that and more).
No it's not a kill-switch. In order to exercise their advantage, big hoarders have to sell coins, and not just a few, and not invisibly, they have to do it publicly, on the exchanges to move anything. And everytime they do, no matter if they're ghost-trading with themselves, they loose some, thereby re-distributing the coins, usually to those with less coins.
A big horder sellout isn't the "end of bitcoin". It'd just be the big equality readjustment that occasionally happen, when prices convince holders to sell.
Yes there'll be tears and all that, and a bunch of people loosing everything, but after it happened, the market's more balanced, and ready for the next round. And then the round after that, and so forth, ad-nauseum.
Yes there is a fair deal of manipulation (pump&dump and all that and more).
No it's not a kill-switch. In order to exercise their advantage, big hoarders have to sell coins, and not just a few, and not invisibly, they have to do it publicly, on the exchanges to move anything. And everytime they do, no matter if they're ghost-trading with themselves, they loose some, thereby re-distributing the coins, usually to those with less coins.
A big horder sellout isn't the "end of bitcoin". It'd just be the big equality readjustment that occasionally happen, when prices convince holders to sell.
Yes there'll be tears and all that, and a bunch of people loosing everything, but after it happened, the market's more balanced, and ready for the next round. And then the round after that, and so forth, ad-nauseum.
Welcome to bitcoin.