Readers respond to the news that Christopher Harborne has given £36m to Reform UK, matching a donation from Ben Delo

Cryptocurrency is often sold as decentralised and democratic, yet its real behaviour resembles gravity: wealth is pulled inexorably into a few vast centres while draining from everyone else (Christopher Harborne matches £36m Reform donation of Ben Delo, 12 September). Early adopters, insiders and whales acquire huge holdings at negligible cost. Their size then shapes the market, drawing in ordinary investors whose money ultimately fuels those already at the top.

Because crypto generates no cash flow and produces little real economic output, it becomes structurally zero‑sum. One person’s gain is another’s loss, and the system relies on a continual inflow of participants whose contributions sustain the fortunes of a minority.