I'm not sure how Proof of Stake is actually going to roll out in Ethereum or on other cyptocurrencies where it's already rolled out...
In theory, for the system to be controlled by the elite - I guess we first have to define the elite. Let's say that's the top 0.001% - or the richest ~70k people on the planet.
1) That's still A LOT of people.
2) There's no way they're all going to collude together.
3) They don't (yet) have >50% of the world's wealth.
In theory, for the system to be controlled by the elite - I guess we first have to define the elite. Let's say that's the top 0.001% - or the richest ~70k people on the planet.
1) That's still A LOT of people.
2) There's no way they're all going to collude together.
3) They don't (yet) have >50% of the world's wealth.
What am I missing?