Currency’s is not wealth , most wealth is not stored as a currency or cash [1] it is stored in assets.
If you see how actual physical cash [2] i.e. dollar bills ownership then it won’t be distributed in a typical Pareto curve.
If I don’t have access to notes and coins. I won’t use them so government makes sure I have access . They still will mint it even a at loss like the penny.
Also all power distributions are not Pareto distributions, bitcoin is lot steeper than the standard ones used in economics , that is what this article implies /shows in its analysis .
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[1] including other cash equivalents like bank accounts not just literal printed money. Accounting standards has well understood definition of cash equivalents
[2] comparing against only physical cash (M0) because there is finite fixed amount of bitcoins available at any given point It is not possible to increase bitcoin M1/M2 supply like with fractional reserve banking so you cannot compare against narrow money let alone broad money(M3/M4)
If you see how actual physical cash [2] i.e. dollar bills ownership then it won’t be distributed in a typical Pareto curve.
If I don’t have access to notes and coins. I won’t use them so government makes sure I have access . They still will mint it even a at loss like the penny.
Also all power distributions are not Pareto distributions, bitcoin is lot steeper than the standard ones used in economics , that is what this article implies /shows in its analysis .
——
[1] including other cash equivalents like bank accounts not just literal printed money. Accounting standards has well understood definition of cash equivalents
[2] comparing against only physical cash (M0) because there is finite fixed amount of bitcoins available at any given point It is not possible to increase bitcoin M1/M2 supply like with fractional reserve banking so you cannot compare against narrow money let alone broad money(M3/M4)