

It’s because they’re concentrating all the wealth. The wealth in the US used to be far more distributed, with the majority existing in the large middle class. Reagan started the policy by Republicans to pass laws and regulations designed to benefit the wealthy at the expense of everyone else, and then Clinton got the Democrats on board with the same strategy. We’re approaching the end game now where the middle and lower classes are nearly bled dry and the rich will start cannibalizing each other to be the last fattest rat in the garbage pile while the entire US economy collapses around them. Be on the lookout for the smarter rats to start fleeing the ship by transferring as much wealth as they can into foreign assets that will survive the collapse of America.
Bitcoin is sadly a failed experiment and you’re not a luddite for pointing out its various shortcomings. I was an early adopter back when you could get an entire coin for a buck or two, but never invested much in it and lost most of what I had when one of the early exchanges imploded.
The concept of bitcoin was great, a decentralized currency not under the control of any government or institution, but that was still reliable and pseudo-anonymous. The execution however was beyond disappointing. It was quickly commandeered by “investors” looking to gamble on something even more volatile than forex markets and ceased being able to function as an actual currency due to the wild swings in value. In order to be a useful currency something must have a relatively stable value. Additionally scammers and criminals also gravitated to bitcoin further driving legitimate businesses away from it not wanting the guilt by association. Finally it turned out that the anonymity was even easier to break than initially thought and the tax headaches involved in buying, selling, or trading in bitcoin or any cryptocurrency make it too annoying to actually use (massively compounded by its wildly fluctuating exchange rates).