A deep thought | Bitcointalksearch.org

Cryptohygenic

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Quote from: PrivacyG on November 20, 2024, 11:52:02 PM

It would become worth nothing as nobody will be able to purchase it. If all Bitcoin ended up in the hands of one single entity, Bitcoin would fail really badly considering it is meant to NOT be Centralized in any way.

The only Holder will be the only one able to Spend or Receive. As in, they would transfer Bitcoin from one Address to another. It would be useless and worthless.

Well I will have to say that you have got me thinking other way round. Imagining how a single entity could acquire the whole bitcoin is thoughtful with eventual possibilities but evaluating the potential valuabilities of the bitcoin on how it would keep it volatile movements potential to produce increase is an impossible but very possible die the coin to be dumb because it will be a total worthless as useless.

cxtreenal

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

If a single entity tries to buy bitcoins, he will have to find countless sellers and if he cannot find sellers, he will lose the right to buy them all, so he should not proceed with unreasonable ideas. A single buying entity should not be involved in the rise in value of Bitcoin due to global demand and manipulation by large whales (holders).
You should think deeply about the growth of Bitcoin and aspire to get a holding by running a deposit.

Zanab247

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

It will be difficult for investors to have such thought about BTC because someone or group of people will not use their money to buy all the BTC, which it will not be possible because BTC is a decentralized currency that has limit in the process of buying for future use. I have seen many institution that bought BTC for profit purpose, but they never have such thought that they want to buy all the BTC because they understand this advise very well, invest what you can afford to lose in BTC, BTC is not control by the central bank of a country which is the reason you don't need to invest all your money on BTC.

But if you are financial buoyant, you can buy plenty of BTC and hodl for long years before you can sell, I believe you will like the BTC investment more because that is the simple strategy people are using to gain profit from BTC hodling.

Peanutswar

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

Because of the potential of the bitcoin, bitcoin has limited number of supply only and imagine you have tons of it and people seek for the demand of the bitcoin so there's a market on it, currently there's a large institutions business would like to support the use of the bitcoin as their payment method, transactions and even business deal if the other party accept this payment. If you tried to look around tons websites already built with the web 3 and people now adopting this so for the long run bitcoin is a good thing to hold.

joniboini

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Quote from: Cryptohygenic on November 20, 2024, 04:24:00 PM

So if one entity is possible of buying the entire bitcoin that means the value remains stable and no volatile movement of bitcoin anymore right?
I guess the value would be diminished up to zero level because it would be worthless if it can not be a commodity of exchange of values anymore.

I mean that's true for any kind of asset. If somebody bought all gold and nobody could access it, the market would find the alternatives as quickly as possible and gold would be worthless. I don't think that's practically possible though, even if there's a giant business that will put you in jail because you sell Bitcoin, they can't control the whole network.

I'm pretty sure you can easily find articles or news related to the centralization of Bitcoin supply or something similar. Most people fear those things for many reasons, including financial reasons such as Bitcoin dumping to lower prices.

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?

If someone bought it and decided to hold it off the value of bitcoin cant be guaranteed to favor him it could also be downfall on his entry who knows. But what he bought will remain part of the bitcoin ecosystem and it has store of value. When someone buy btc expect it to be based as investment. Only few really thought to use it like for daily alternating to fiat.

Marykeller

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Quote from: Zlantann on November 19, 2024, 09:05:38 AM

Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

Bitcoin value is determined by the market forces of demand and supply. If one entity acquires all the Bitcoin which is impossible, the value of the coin might skyrocket at first. But if the entity refuses to sell the coin over a period of time people might decide to seek another store of value. Some altcoins might end up beginning to become powerful since there will be no demand or supply for Bitcoin. Bitcoin will also lose its decentralized status if an entity owns all of it. I guess many people will lose interest in acquiring it even when such individuals want to sell.

What you explained, is exactly what would be. No demand and supply for Bitcoin again, as people would begin to look for another alternative that would give them profits in the long term. Preferably, an existing altcoin or new altcoin would chosen by many crypto investors, and that would appear to take over the spot of Bitcoin as the king of crypto since Bitcoin is under the control of one entity that doesn't trade Bitcoin but hodl it for itself.

EluguHcman

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Could be possible that you are not having the deep thought as ought to but if I must put to imagine on a scenario outcome like that would look like even when it is obviously impossible for one to buy the entire bitcoin, it still deep felt impossible to imagine.

So the thought should be scrapped away atleast regarding that there are still Bitcoins that has not been mined or do you also tend to drag the future closer to when all bitcoins are mined?
Maybe YES or NO that this deep thought may be actualized but I am very much in doubt that it is impossible and advice you don't have to labour your mind on obvious impossibility because there are long term holders who are mindedly undivided on holding for a longer time with a specific target to only sell when Bitcoin had hit a specific price. Probably at $1M or so per Bitcoin before they can sell and meanwhile... Some are holding for their future generations to come and inherit.

So I don't know the possibility of this sighted entity to live on earth while thriving on acquiring the whole created 21M Bitcoins.
I think you should just wake up because that entity will have to live forever and still won't be able to achieve this quest.
Your thought was toughly deep thought of but it is an illusion.

JunaidAzizi

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

It's a very hypothetical type of situation because it can't be possible to happen. The total supply of Bitcoin is 21 million, and most of it has been mined, with some still left. If a single person can hold a large portion of Bitcoin, then significant changes will be seen in the market. The first thing is that Bitcoin loses its importance of decentralization as it is now held by a single person. We will see some surge in the price because when one person holds it, the supply will be stopped, and there would be no demand, resulting in a price decrease. After some time, if he holds it for several years, the price will reach nearly stability, and volatility will be no more, giving one person the power to control the price of Bitcoin. There are many other things that will also change when it goes into the hands of only one person. I think this will help you answer your questions.

Yaunfitda

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

It will have no effects on the market itself, as what we say, Bitcoin is to big to fall and even if entities like Michael Saylor or even crypto exchanges, it will still be very volatile no matter what. Demand itself could be one factor why the price is going to increased in the future. Now, we are talking about 6 digits, but later on, maybe in the next 2-3 halving, we will be talking about millions. So right now, it's not that realistic to think, but in the future, when we hit that $100k, for obvious reasons, the next target will be $1 million=1 BTC. And that for me should be the one that we should be thinking and imagining in the future.

PrivacyG

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It would become worth nothing as nobody will be able to purchase it. If all Bitcoin ended up in the hands of one single entity, Bitcoin would fail really badly considering it is meant to NOT be Centralized in any way.

The only Holder will be the only one able to Spend or Receive. As in, they would transfer Bitcoin from one Address to another. It would be useless and worthless.

Darker45

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How is it a deep thought when it's too far from reality?

Anyway, let's play this game. If all coins in the blockchain are owned and hodled by just one individual, then it's probably the end of it all. There'd be no more activity. There's no transaction to mine, so miners would cease their costly operation because nobody is broadcasting anything. Demand is pointless because there isn't any supply available. Bitcoin exchanges, Bitcoin wallets, Bitcoin mixers, and all services related to Bitcoin would stop operating.

At which point, you don't even have to worry about volatility because Bitcoin is dead.

uchegod-21

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

Very odd to happen at first. So, even in the imagination, let's just say the person will buy all the available unbought bitcoin because there are people who will not sell to you, no matter how much you offer. Don't forget there's still a huge amount of bitcoin in Satoshi wallet.

So, trying to imagine what you suggested above is meaningless, but in the worse scenario, hard forking the bitcoin network will happen.

Cryptohygenic

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Quote from: Zlantann on November 19, 2024, 09:05:38 AM

Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

Bitcoin value is determined by the market forces of demand and supply. If one entity acquires all the Bitcoin which is impossible, the value of the coin might skyrocket at first. But if the entity refuses to sell the coin over a period of time people might decide to seek another store of value. Some altcoins might end up beginning to become powerful since there will be no demand or supply for Bitcoin. Bitcoin will also lose its decentralized status if an entity owns all of it. I guess many people will lose interest in acquiring it even when such individuals want to sell.

Okay here I come to understand that the essence of demands and supplies has an interest role by which it is liquidated to fluctuate the value of bitcoin on the process of holders or users executing transactions of buying and selling which lies on the potential by which bitcoin holds the capacity of value storage.
So if one entity is possible of buying the entire bitcoin that means the value remains stable and no volatile movement of bitcoin anymore right?
I guess the value would be diminished up to zero level because it would be worthless if it can not be a commodity of exchange of values anymore.
👍

Abbatty

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I think people will have different opinions and views about if the price will increase or drop having their separate reasons but then it will very difficult for a person to acquire all bitcoin because of its decentralized system so to come to think of it, it’s impossible and changes nothing.

If a single person should be in possession of all bitcoins at first the price will rise because of the high demand but shouldn’t be for too long and after a while it should drop again and with no market activity it will affect its price negatively and will experience a massive drop in value. Traders and other investors all play an important part in the price of bitcoin.

What the owner intend to do with it will also determine its price if he wants to hodl then the price is likely to remain stagnant.

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Quote from: DubemIfedigbo001 on November 19, 2024, 04:24:11 AM

Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

Firstly Bitcoin is a decentralized scheme, giving multiple people ownership of their own accumulated coins. Bitcoin is community driven, hence nobody could purchase all bitcoins for himself, How would he convince every existing holder to sell to him?

There's no monopoly of purchase in Bitcoin, you only buy as much as is available or as much as your funds can buy. I would also be quick to remind you that all 21 million bitcoins would be mined at approximately 2140. So the person cannot buy Bitcoin that's not mined yet.

It's just not possible since it would defeat the main aim of decentralization, being the fact that one person now owns every Bitcoin. It would centralize Bitcoin which cannot be possible.

Your deep thought is not achievable, just snap out of it.

Well, op already made it very clear of his imaginations and I think there was no need to roast op this much, if you actually had a deep thought op expected.😂
@op, I think you’re totally out of this world and at some point , I was just thinking and even in thoughts I was trying not to be the one having such thoughts but trying to help you have some really deep thoughts and I just say that, you were possibly seeing yourself being able to purchase all the bitcoin both the ones not yet mined and and as such, you might possibly be trying to know if it could possible to determine the level of success of bitcoin?
Let’s just simply put it as having a monopoly of bitcoin which can’t be possible but according to your (ops) thoughts let’s just assume one person monopolizes the bitcoin market and owns all bitcoin, will such a person be able to have absolute control of the bitcoin market? Hence determining but the rise and fall of the price by also controlling when to buy sell to himself and rebuy as well from himself?

EL MOHA

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Quote from: tabas on November 19, 2024, 09:47:35 AM

There's the law of supply and demand and if that guy hoards and just does nothing with all of the Bitcoins purchased in circulation then the price might just go up if the demand is still high. Because there's lesser supply in the economy and many want to buy it. But I don't think that many would allow that to happen, when that time comes and there's less in circulation, most of the exchanges might be forced to sell from their reserves, and those countries that have it might also sell partial of their holdings. So, if it's about the price, for sure that there's an impact of it.

Exactly what I think will happen, the demand for it will increase more since the advantage of it is known and the supply which according to OP is low because of it been controlled by an entity, it is this entity that will then set his own preferred price on it, the entity might decide to actually set a price like a million on it and those in dare need of it and have money wouldn’t mind but to buy it. So the demand will most certainly increase as the scarcity increases too. But the only problem is many people wouldn’t be sorting after it again because of it been majority been in the possession of just an entity and that kills the importance of it

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One of the most important reasons why the Bitcoin proof of work argument has gained a lot of positive reception is from the fact that with proof of work (POW) a consensiship that disallows the possible central station of the Bitcoin network by an individual or a sole entity because by so doing it means that Bitcoin is losing its decentralized features.

Between that also have to look at a lot of other possibilities that will make such a Bitcoin purchase and ownership very difficult at any point in time, so instead of wasting your time imagining some chitscrp why not wake up to reality and refocus on some more positive things, Bitcoin can not be own by just one entity nit even government can have such control over Bitcoin network.

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Quote from: Cryptohygenic on November 19, 2024, 04:12:23 AM

Even if this is impossible, just give it a deep thought.
So what if a particular entity or sole individual decides to purchase the total number of Bitcoins in the blockchain and jus hodl, would it still be potentially volatile to perform increase of price or does still have the potential for store or values?
While having a deep thought of this, you can just exempt the costly expenses that might be too much for an entity to afford and just focus on the nature of possiblity on what would be the valuability potential of bitcoin then if it could be realistic.
Just a deep thought please.

It's impossible to acquire all totality of Bitcoin as an individual or entity's as know bitcoin can't respect the choice of a specific person. What i meant in context is that you may decide to hold your bitcoin for as long as you are still breathing on earth, while there are other who may want to sell bitcoin when it gets 10x or 50x from their investment time and for that to happen, it will take bitcoin to be 500k or $1m which if you sum total circulating supply then multiple by $1m you would see that no one i mean individual to be able to buy off bitcoin from everyone to have total control of the coin.

tabas

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There's the law of supply and demand and if that guy hoards and just does nothing with all of the Bitcoins purchased in circulation then the price might just go up if the demand is still high. Because there's lesser supply in the economy and many want to buy it. But I don't think that many would allow that to happen, when that time comes and there's less in circulation, most of the exchanges might be forced to sell from their reserves, and those countries that have it might also sell partial of their holdings. So, if it's about the price, for sure that there's an impact of it.

Topic: A deep thought (Read 303 times)