Cryptocurrency is a system, and systems are subject to the whims, desires, hopes, strategems and vices of their users and architects.
If you’re anything like billions of other people on the planet, having a million dollars sounds like a dream come true. For most people, it’s always seemed like an unlikely dream.
While the dream itself remains elusive, cryptocurrency offers people a slightly greater chance to achieve it. And that is both a strength and weakness. The fact that cryptocurrency is a totally new and relatively small market means that its depths have yet to be plumbed. Its foundation, scarcity, fungibility, trust, and transmission, lends itself extremely well to financial opportunity.
That it is open-source gives it further strength as an open, democratic model, increasing trust among its users that it was not secretly a device of some single, secret entity.
The cryptocurrency marketplace is a natural outgrowth of all of these qualities, because it is not merely a financial instrument. It is a mirror reflecting human psychology. All of business and capitalism is nothing more than innate human desire manifested in a direct, transactional capacity. Greed, fear, hope, desire, power, independence, trust, and secrecy are all bound up in it.
And what happened? In a word: Consolidation. The mirror rewarded those who looked into it first. Now, 95% of all Bitcoins are owned by 4% of its users.