Doesn't this devalue the market and the currency quite a lot?
One of the big sale points of BTC is the fact that it's p2p and not under control of 1 person. But the days events have suggested that at least 1 person has enough BTC to totally crash most markets. Whether the decision to sell all that at once was an informed conscious decision by the owner, or a hacker, there is still at least 1 person that can control the markets.
Is this right or wrong?
If the person has earned the money through legitimate ways than surely there's nothing wrong with it - but it does undermine the core values of BTW a little bit.
Topic: 500K BTC amounts to what % of total mass of existing BTCs?? - page 3. (Read 3920 times)
About 8%. Bitcoins used to be cheaper and easier to mine, someone having 500K is not at all unusual […].
Please define ‘unusual’. With BTC 6.603M in circulation right now, approximately 13 persons could have BTC 500k in their wallet if they held the total amount of BTC. With that in mind, having BTC 500k cannot be called ‘not unusual’…
Cheers,
just is harder that BTC can become a normal-used value if someone has 500k and the others 1-100 i think that atm it is not-well distribuited (if we think that 21.000.000 is the max number)
About 8%. Bitcoins used to be cheaper and easier to mine, someone having 500K is not at all unusual […].
Please define ‘unusual’. With BTC 6.603M in circulation right now, approximately 13 persons could have BTC 500k in their wallet if they held the total amount of BTC. With that in mind, having BTC 500k cannot be called ‘not unusual’…
Cheers,
About 8%. Bitcoins used to be cheaper and easier to mine, someone having 500K is not at all unusual […].
Please define ‘unusual’. With BTC 6.603M in circulation right now, approximately 13 persons could have BTC 500k in their wallet if they held the total amount of BTC. With that in mind, having BTC 500k cannot be called ‘not unusual’…
Cheers,
Check this website to know how many BTCs exist http://bitcoinwatch.com/
Right now there are 6,603,000 BTC
Right now there are 6,603,000 BTC
About 8%. Bitcoins used to be cheaper and easier to mine, someone having 500K is not at all unusual (keeping them on mtgox up to now is, however).
Just wondering. As somone else noted here, it seems too much to not be highly weird that they were sitting in a single wallet. That sum may be enough to move the BTC price in any way. Moreover, it seems too much to have been plausibly earned in a legitimate way (anyone mined 100K+ BTCs?)
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