Am I wrong to think Bitcoin whales should be ashamed of themselves? - page 2.

dadugan

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Quote from: solid12345 on August 18, 2014, 11:19:05 AM

I mean how much more coins do you need, the vast majority of Bitcoins are still owned by a circle of only a few thousand people, do they really feel the need to pump and dump just to get more? At what point is enough is enough, hell i'd appreciate it more if they brought some of that BTC into the alt game if they really want to play around and pump some other coins up for profit, at least seed the money around elsewhere in the crypto world if you want to make more BTC.

There aren't that many whales in bitcoin world. Most big wallets that hasn't move for one year should be considered lost wallets.

I would be more skeptical on all IPO and business that raised a lot of bitcoin and subsequently sell on the market.

cinder

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The hoarding behavior from whale are the reason bitcoin can go up in price. If no one is selling, then only high price and draw them out and bring additional supply.

wasserman99

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Quote from: Tusk on August 18, 2014, 06:34:04 PM

BTC is a free open market, its value is determined by demand irrespective of how may coins any individual holds, demand is based on supply and its perceived value by those who hold them. The value is determined by is usefulness. Those who recognised early on and those who add value by improving its usefulness have nothing to be ashamed of, they are being fairly rewarded by its unimpeded market value.

If many people who presently hold a lot of coins suddenly decide to sell their coins then the supply of coins will go up causing the price to decline. IMO we don't have a demand problem, it is that we have an excess supply of BTC hitting the market.

Tusk

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BTC is a free open market, its value is determined by demand irrespective of how may coins any individual holds, demand is based on supply and its perceived value by those who hold them. The value is determined by is usefulness. Those who recognised early on and those who add value by improving its usefulness have nothing to be ashamed of, they are being fairly rewarded by its unimpeded market value.

Razick

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Quote from: Ayers on August 18, 2014, 01:15:13 PM

Quote from: RodeoX on August 18, 2014, 12:10:25 PM

They did more, now they have more. Why should they be ashamed?

isn't this not healthy at all for bitcoin, how can we expect a high price in this way? hoping that one day one rich guy pump it? bah...

If the whales were to sell their coins the price would go down, not up. In fact, many of them are probably selling gradually as we speak, which might be part of what we are seeing now.

subcoin

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Is OP trying to say that free market is bad? Huh

waterpile

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why should they be ashamed? Its their own money to waste and it is not different in the financial world

RodeoX

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The revolution will be monetized!

Quote from: Ayers on August 18, 2014, 01:15:13 PM

Quote from: RodeoX on August 18, 2014, 12:10:25 PM

They did more, now they have more. Why should they be ashamed?

isn't this not healthy at all for bitcoin, how can we expect a high price in this way? hoping that one day one rich guy pump it? bah...

There is a lot more talk of pumping than pumping. Perhaps among alt coins the market is still small enough for that, but the price is mostly a function of simple demand. If you buy bitcoin then use bitcoin, it's real power is revealed. Utility is the most important thing about bitcoin. It is the cheapest, fastest, and safest way to pay anyone anywhere. It is not an investment vehicle of any kind and using it that way is extremely risky. A few people may have gotten quite rich early on, but that phase is over. IMO. Those that did make a lot of BTC worked hard on projects that advanced the bitcoin economy.
In 2011 the vibe here was totally different. It was about taking on the banks and spreading the word. Now it's a bunch of kids that want to know what computer buttons to push to get rich. Now everyone wants a loan or a handout, or to be let in on the secrets. Well, the secret is hard work. If you want a lot of bitcoin then start something of value, go hungry while it grows, later the earnings will flow.

findftp

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Delusional crypto obsessionist

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cowards who sell at a loss should be ashamed of themselves

+1
Buy & Hold. We are not there yet, for a long time.

drporschef

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Do you think people who are rich in fiat should be ashamed of themselves? As essentially there is no difference...

Ayers

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Leading Crypto Sports Betting & Casino Platform

Quote from: RodeoX on August 18, 2014, 12:10:25 PM

They did more, now they have more. Why should they be ashamed?

isn't this not healthy at all for bitcoin, how can we expect a high price in this way? hoping that one day one rich guy pump it? bah...

alh

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I don't see this as particularly different from the ownership distribution of financial assets in the USA for example. While the scale is entirely different, and the counts of folks, I wouldn't be the least bit surprised if the percentages are fairly similar.

RodeoX

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The revolution will be monetized!

They did more, now they have more. Why should they be ashamed?

spazzdla

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Quote from: ?? on ??

cowards who sell at a loss should be ashamed of themselves

This..

twiifm

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Quote from: solid12345 on August 18, 2014, 11:19:05 AM

I mean how much more coins do you need, the vast majority of Bitcoins are still owned by a circle of only a few thousand people, do they really feel the need to pump and dump just to get more? At what point is enough is enough, hell i'd appreciate it more if they brought some of that BTC into the alt game if they really want to play around and pump some other coins up for profit, at least seed the money around elsewhere in the crypto world if you want to make more BTC.

People are greedy. Its expected. I don't get why anyone would want to buy into a deflationary currency full of speculators

solid12345

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I mean how much more coins do you need, the vast majority of Bitcoins are still owned by a circle of only a few thousand people, do they really feel the need to pump and dump just to get more? At what point is enough is enough, hell i'd appreciate it more if they brought some of that BTC into the alt game if they really want to play around and pump some other coins up for profit, at least seed the money around elsewhere in the crypto world if you want to make more BTC.

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