Topic: Are the Whales Control bitcoin price? - page 8. (Read 1670 times)

Whales no doubt has the influence to move an inch of the market but they can't have that whole control on it. It will be a huge expenditure to them if they want to have that much control to the market.

So, if calculating the whole 51% of bitcoin based on the current of supply that it has got in circulation. Then, that will be around 9,806,694 BTCitcoins. I don't think someone has that.

Calculation:

Current supply in circulation based on coinmarketcap.com = 19,228,812 * 51%(0.51) = 9,806,694BTC

Satoshi's holdings are even estimated just around 1M of bitcoins.

if there is Bitcoin ownership of that size by one person, of course, it can easily move or monopolize the market. but the biggest ownership I think belongs to the exchange wallet. and of course, it does not belong to one person.
for now, I believe that no one can control the market price. even if it's a pope with the largest current holdings. the market only responds when a large amount of Bitcoin from the wallet is transferred to the exchange. and that raises sentiment toward market prices.

The whales control BTC price because of their huge investment in btc,so the price demands on the whales for it to go up and down. Whales can't own upto 51% of BTC,if not it is going to mess the purpose of BTC which is decentralized system,they can own like 10-15%. That's is why they can control the price at that moment because if they choose to sell,the price drops and if they are buying more to their investment it can lead to increase in BTC price.

Whales may own more than 51% too but they can never control the price, all they can do is manipulation like buying few thousands BTC for higher rate than actual market rate which lets the price to swing around the region for a while but the whale is actually losing money when buying for high price but they can make it up too by dumping when the market is high.

So they can manipulate not complete control which both different when it comes to intensity level.

I think there are definitely those who buy Bitcoin in very large volumes! it's hard to say how accurately they are called whales, dolphins or small fish, but there is definitely a lot of money here! it's hard to say how accurately they are called whales, dolphins or small fish, but there are definitely those who enter the market in large volumes.

Nobody or group of people can own more than half of the BTC circulating supply, whales can try to manipulate the price of BTC by moving their coins in and out of exchanges, but that kind of manipulation can't last for too long, and because it is only for a short time it cannot be called 'control', nobody controls anything in the BTC network.
Decentralization would perish if a mischievous miner or pool own and controls 51% of the hash rate, and not depending how much BTC one owns, owning 51% of the hah rate will give the miner or pool the power to do so much damage to the network which will affect decentralization. But a 51% attack is never likely to happen.

price discovery has nothing much to do about the so far 19m supply
  2012 had 11m supply
  2022 has 19m supply. yet more supply did not mean less price
  (some believe scarcity/supply drives price the most)

price discovery has nothing much to with the average 500k coins in a exchange custody per average exchange of high public awareness
   coins sat in custody(cex) or in self custody private key do not set prices

what does change prices is only balance on active market orderbooks
   and its only the currently processing order price that matters

looking at the average order yield
in 2012 was 1btc-1000btc per order
in 2022 is 0.001btc-1btc per order

when there is lack of buyers wanting to pay more fiat for a decimal allotment of btc. the top of the market is reached
when there is lack of sellers giving away more decimals for an allotment of fiat. the bottom of a market is reached.

what you find out is at the bottom of the market a seller would rather hand out less decimals. and its this decision that causes prices to move volitally and quickly to become new ATH

imagine buyers for a whole year only trade in say $400 amounts
at start of 2020 they got 0.04btc (1btc=$10k)
sellers simply only offered 0.039btc (1btc=$10.256k)
                                       0.03btc (1btc=$13.33k)
                                       ...
                                       0.01btc (1btc=$40k)

those holding alot of btc are not going to be stupid and sell coins for less the the most efficient mining costs on the planet(the cheapest way to acquire bitcoin) by throwing alot of coin into a market without caring about price

however giving out less coin to a market can cause alot of market rise without needing the buyer to spend more

A "whale" can move the markets to a certain extent, but it doesn't give them overall control over the markets. Take note that even "whales" that attempt to manipulate markets can also lose money.

Also, no "whale" owns 51% of the total supply. Most of the wallets with huge bitcoin holdings(though definitely nothing close to 51%) are exchange cold wallets.




Bitcoin is proof of work, not proof of stake. So even if a single person held a huge chunk of Bitcoin, that wouldn't give him special powers over the protocol.

https://www.investopedia.com/terms/p/proof-stake-pos.asp

we all know no one can controls the bitcoin price because bitcoin isn't like bank, stock and valas. but if the whales owned 51% of bitcoin, can do it?. if happen, does decentralization not exist?