Topic: Bitcoin Is Not Decentralized (Read 852 times)
I can't understand this thing why you need to be decentralized the bitcoin. Bitcoin don't need to be decentralized.. so leave it guyzzz...
you understand decentralization wrong here , it is not about how many people have or hold bitcoin
it is that the network is distributed between many instances , called nodes
if the number of nodes decreases greatly and they are all controlled by the same group of individuals , then you can say that bitcoin is not decentralized
while I agree with the statement that whales can make the price go up or down , they have less and less impact and as the time passes and every coin becomes more valuable
even less of the impact , since to change the price even 500 $ in any direction requires thousands of coins sold
and what do you suggest? whales is the necessary "evil" , same as the rich
our society haven't invented any better form of rule as of yet , so you have to deal with it , besides 90% is an overstatement
I am sure bitcoin is spread very much evenly between the big holders and the miners/general public
it is that the network is distributed between many instances , called nodes
if the number of nodes decreases greatly and they are all controlled by the same group of individuals , then you can say that bitcoin is not decentralized
while I agree with the statement that whales can make the price go up or down , they have less and less impact and as the time passes and every coin becomes more valuable
even less of the impact , since to change the price even 500 $ in any direction requires thousands of coins sold
and what do you suggest? whales is the necessary "evil" , same as the rich
our society haven't invented any better form of rule as of yet , so you have to deal with it , besides 90% is an overstatement
I am sure bitcoin is spread very much evenly between the big holders and the miners/general public
What the hell are you talking about? Ofcourse i adopted BTC but it currently can not exist without FIAT Money... Leave the whales now i told what i wanted to tell about them. So nobody is concerned about Fiat profit anymore (LMAO) ? Ofcourse you need FIAT money to survive today. You still can not buy alot of things with BTC and that is what i want to change aswell !!! Do not judge me because your brain can not comprehend
Ugh! Acquiring is not adopting. You did acquire bitcoin for some profit. Yes? Don't be mistaken between acquiring from adoption because adoption roots deeper than just having them in your hand. You particpate in this so called "adoption campaign" because it will profit you, where at the end you will sell your acquired BTC to those next buyer. Now you are mad because things does not play the way you wanted it to be. If you really are an adopter, you won't get angry because Bitcoin price were played. True adoption is using it whenver you have a chance and not hodling it for profit. Adopter losses nothing because they move BTC realtime. They buy them to transact next immediately, rinse and repeat. Not buy them to hodl and profit.
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
So you think these whales are not people BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
some robots hoarding these coins for them to control the entire financial market in the future 
. When 21 million bitcoins are mined it will take more than hundred years and with the way things are going, i cannot imagine the price of bitcoin fifty years from now, let alone hundred years and the so called whales could hold trillions of dollars worth of bitcoin at that time which could consume the entire financial structure.PS: I liked your comedy and so is my response. If you claim that these random figures are facts, put up some source of study and prove them rather than saying random figures and claiming that to be true
. 
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
Well, that doesn't really mean it's not decentralized, that problem will never be solved, when 1 bitcoin is worth 1 bitcoin, it won't matter. Whales won't be able to dump the price because no one would care about the price of btc/usd.
If this claim is true then it is possible that those who researched it mistook wallets owned by exchanges for whales'.
Besides there is little we can do about whales owning large amounts of bitcoin...They have the right to trade too. What is important though is to ensure they don't manipulate the market.
We could prevent this (regulate the price) with a stablecoin in this way:
A whale tries to buy 1500btc to raise the price of bitcoin by 30% in a short time, our blockchain algorithm subtract half of the bitcoin (750btc) and move it to Stablecoin and price increases by just 15% instead of the 30%.
If another whale tries to bring down the price of bitcoin by say 20% by withdrawing 2000btc, the algorithm immediately injects about 1500btc from the stablecoin reserve into bitcoin and the price reduces by 5% instead.
This could be done in a decentralized manner through smart contract or some sort of algorithm
Besides there is little we can do about whales owning large amounts of bitcoin...They have the right to trade too. What is important though is to ensure they don't manipulate the market.
We could prevent this (regulate the price) with a stablecoin in this way:
A whale tries to buy 1500btc to raise the price of bitcoin by 30% in a short time, our blockchain algorithm subtract half of the bitcoin (750btc) and move it to Stablecoin and price increases by just 15% instead of the 30%.
If another whale tries to bring down the price of bitcoin by say 20% by withdrawing 2000btc, the algorithm immediately injects about 1500btc from the stablecoin reserve into bitcoin and the price reduces by 5% instead.
This could be done in a decentralized manner through smart contract or some sort of algorithm
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
I don't think that 90% of bitcoin holders are whales, if you place a source for that then I will believe you.
Also, you will never know what would be the outcome when all the bitcoin will be mined. Do you know who will be the owner of them?
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
if you do not have a lot of money to buy many bitcoins, do not be jealous of people who have lots of money to buy many bitcoins. Your post is a great absurdity.
Anyone is free to buy as many bitcoins as you want
Yeah and i threw 1 year away for nothing, for fuck sake.. well you are alowed to believe whatever you want. I was out there active on every social media while you were here picking up activity and merit I definetly had influence in the 19k and that a big one
I definetly had influence in the 19k and that a big oneWho do you think put the name Bitcoin in every popular livestream news station? You ? Any clown from here ? ME! Expecialy the bloomberg one, the word spreaded so fast the price jumped in 2 months. What about the Bloomberg Terminal ? Youtube? Twitter? FB?ETC ! Get your dumb head out of your ass- And at this stage in the game, mediocrity can no longer be allowed to fly
I think you should go back to krypton
Today was my first investment in cryptocurrency.
Wish me luck.
+2BT
Wish me luck.
+2BT
Good luck
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
Nice statistics,wondering where did you get that buddy?is that for real or your own speculations?thats a big number lolQuote
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Well before the 21 million bitcoins had mined for sure I am richer by then so what the fu*k do I need to care of that situation?Quote
Bitcoin Is Not Decentralized.
Tell that to yourself,no one cares bout your position 90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
How do you know that? How do you know the calculations and percentages? do you know how many bitcoin users there are? more than 10 million users, because in my country there are more than 1 million users, in my opinion the percentage is more than 10%, although I will admit that whales do have an effect, but it does not eliminate decentralization from bitcoin BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
You should atleast put your source link to defend your statement. Anyway, yes WHALE somehow take a part on manipulation but that is only like 3 to 5%. They are also humans who has need in life that's why they profit. And FYI it is called decentralized because it doesn't require a centralize authority, its state is maintained through distributed consensus. So yeah learn your facts first before saying that bitcoin is not decentralized.
I thought. You don't understand the concept of decentralized. Decentralized system is a system that has no authority. Decentralized system transactions are peer to peer without third parties. the whale not only controls the crypto world. but the whale was also always in a centralized world. the whale are everywhere.
That's the correct definition, the only decentralized that cannot be change or control is its system which will remain decentralized no matter how may times the whales will manipulate the market. The price could move, but the its system will remain as normal.
I thought. You don't understand the concept of decentralized. Decentralized system is a system that has no authority. Decentralized system transactions are peer to peer without third parties. the whale not only controls the crypto world. but the whale was also always in a centralized world. the whale are everywhere.
I don't know the fact that how much Bitcoin is held by whales or how much is earned by the common people but the Bitcoin is decentralized as its underlying technology is Blockchain and it is also decentralized.
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
Even if you are correct that 90% of the supply is own by the whales, but how would that qualify to your statement that bitcoin is not decentralized?
I see exacly how he said it, 90% Whales & 10% Naive peeps. Oh what about Wash Trading they count as newcomers 
? There is no rocket science in this
? There is no rocket science in this Let me read your future. You are angry and will become more salty over time and keep thinking about missing the train and all those bitcoin addicts who are now rich and happy.
Tell me if I got it right
What about all those people who have 20 -30 bitcoins. There's really a lot of them. Are they whales or naive or somewhere in between? I call them lucky bastards but you can call them naive.
I am quite angry yes, but i am angry because i do not recieve proper respect toward me as i am responsible for the mild adoption of BTC =) and nobody will take that away from me. Being called a scammer & Beggar it is just putting my blood pressure over 9000. And i am quite angry at whales for the manipulation they do.. And the greed they have it is just .. it makes me puke lol. To be human is to be naive ^^
your share of "adoption of BTC" is zero because you see bitcoin as an investment and are only concerned about the price of it and that only in short term which is why you are confused and angry about the short term fluctuations which you call "whale manipulation".
the fact is you have adopted fiat but you think you adopted bitcoin. otherwise you wouldn't have been so concerned with the price and your fiat profit like this.
What the hell are you talking about? Ofcourse i adopted BTC but it currently can not exist without FIAT Money... Leave the whales now i told what i wanted to tell about them. So nobody is concerned about Fiat profit anymore (LMAO) ? Ofcourse you need FIAT money to survive today. You still can not buy alot of things with BTC and that is what i want to change aswell !!! Do not judge me because your brain can not comprehend
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
You say that 90% of bitcoin is in the whales? Do you have a definite source of your words? this is a ridiculous thing with wrong analysis, 90% is a very large asset dude, if you want to spread the FUD then do it well, mature and analyze the acceptable logic of crypto users here. BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
90% of bitcoin hold by whales, only 10% of bitcoin hold by people,whales can do anything pump btc to moon or dump it to hell,
BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
How did you even come up with that computation?BUT ask yourself 1 question: What Happens to Bitcoin After All 21 Million Are Mined? then whales completely control bitcoin price.
Bitcoin Is Not Decentralized.
Surely whales hold a huge percent but it isn't something so big like that.
Basically you are talking about almost 16M BTC out of1 7,764,937BTC is on the hands of whales.
Surely whales could move the price but don't you think that they are also cautious on their stock?
Besides even if your computation is true 90% wouldn't be by just a small number of people surely it would be plenty of people and groups,
So relax the market wouldn't be easily manipulated if we wouldn't be careless and fall for FUD and FOMO.
The real enemy isn't the whales it is our own emotion when we are trading.
I see exacly how he said it, 90% Whales & 10% Naive peeps. Oh what about Wash Trading they count as newcomers ? There is no rocket science in this
? There is no rocket science in this Let me read your future. You are angry and will become more salty over time and keep thinking about missing the train and all those bitcoin addicts who are now rich and happy.
Tell me if I got it right
What about all those people who have 20 -30 bitcoins. There's really a lot of them. Are they whales or naive or somewhere in between? I call them lucky bastards but you can call them naive.
I am quite angry yes, but i am angry because i do not recieve proper respect toward me as i am responsible for the mild adoption of BTC =) and nobody will take that away from me. Being called a scammer & Beggar it is just putting my blood pressure over 9000. And i am quite angry at whales for the manipulation they do.. And the greed they have it is just .. it makes me puke lol. To be human is to be naive ^^
your share of "adoption of BTC" is zero because you see bitcoin as an investment and are only concerned about the price of it and that only in short term which is why you are confused and angry about the short term fluctuations which you call "whale manipulation".
the fact is you have adopted fiat but you think you adopted bitcoin. otherwise you wouldn't have been so concerned with the price and your fiat profit like this.
Today was my first investment in cryptocurrency.
Wish me luck.
+2BTC
Wish me luck.
+2BTC
Jump to: