I guess you really can have too much of a good thing, even in Bitcoin:
Very interesting analysis by @LaurentMT. @coinbase / @GDAX has a big issue. Because of the fragmentation of their utxo set (tx inputs and outputs) they would have to pay miners more than the actual withdrawal amounts. https://t.co/B94S2MNCSo
For example, this entity (https://t.co/wyTt53e0aX) is a wallet controlled by Coinbase. To date, it owns around 203 BTC split in 1,464,545 utxos ! With BTC at $15.8k, it means $3.2M with an average utxo value of 2.2$. #DustInTheChain
Thus we find Silicon Valley tech entrepreneurs brimming with optimistic expectations of disruption and future success, proclaiming the word of blockchain rebellion as a universal tool of empowerment for all, contrasting themselves to the parasitic Wall Street banker. The critical observer, though, might just take a step back, and conclude that this is really just one group of elites fighting another group of elites for control of the ramparts of power, both invoking the interests of Average Joe in the process.