Topic: Bitcoin Wales what it is / who are they? - page 2. (Read 359 times)

Some of the whales are the so called "early adopters",who bought and mined Bitcoin back in 2010-2012,so the risk they took isn't that big.I guess that most of the crypto whales are people who own cryptocurrency exchange platforms and BTC mining facilities.They aren't crypto traders,who bought large amounts of Bitcoin back in 2013-2016.Back then,nobody was expecting the BTC price to go from 1K USD to 16K USD in one year.
Most of the crypto whales were already rich,before they get into the crypto world.So Bitcoin didn't create any new inequality,some rich people from the fiat economy just moved into the crypto economy.

Bitcoin is a huge economical asset. It has it's own advantages and disadvantages. And the price fluctuation could be called both.
Bitcoin has become a asset of interest for traders due to it's price fluctuations. The large volume traders has the ability to manipulate the prices singly or in a secret combination. Such whales are not just in crypto. They are everywhere. It's just that no other asset provides similar fluctuations.

Bitcoin whales are semi-mythical - everyone talks about them, but no one names any names. You'd bet that in all these years someone would pinpoit at least a few individuals, but no, it's always the abstract "whales". I'm not saying that they don't exist, but we have no idea just how many of them there are, how much do they cooperate, how many coins do they hold, etc. Maybe their influence is severely overblown and they don't fully control the price like many people believe.

you can't even mention the term "Wealth inequality" when you are talking about bitcoin. because unlike most other things anybody who has more bitcoin has gained it on even grounds without having any more access than others. basically anyone called "whale" is like anybody else but they took a much higher risk when price was down instead of doing what everyone else did which was either ignore bitcoin or sell in panic. it is not inequality when it was a choice. nobody was preventing you from buying bitcoin when it was $900 in 2017 or $3k last year or when it dipped last week!

I doubt. Even way before the term globalization was coined, wealth inequality was already there. I don't think wealth inequality only came out at the advent of globalization. I would even think that it was already there right from the very beginning of human race. Globalization made it much worse, of course. Therefore, removing globalization from the face of the earth, the problem of wealth inequality will still persist. It may not even be a problem at all because it seems it does not have any solution.

Wealth inequality will most likely never cease to exist unless deglobalization happens (which is what the COVID-19 case apparently does right now, but I guess we'll get back into globalization as soon as the pandemic ends).

The Bitcoin wealth inequality is still low compared to the world. IIRC, somewhere around 10% of the adults hold +85% of the world's wealth. Moreover, while the largest corporations are actively moving their assets and funds, millions of BTC haven't been moved in years. In fact, millions of BTC are now known to be lost in the void..

Don't worry, we have whales in all our stock markets - even in the commodities. Prices are sometimes pushed/pulled to the advantage of massive corporations and/or billionaires, just like massive movements of BTC by whales occur to their own advantage. The weak hands take action depending on their moves so your money goes into their wallets.

Coming Across Topics and posts detect some vocabulary which appears to be used mostly in many comments on the forum posts currently, I understand it in general that people are talking about bitcoin but and I didn't realize if it is the right the way I think and not sure, following different posts also see I'm not alone with some kind of misunderstood how people use the world wales or Bitcoinwalles, this is not Because I'm newbie, yes I might be in the forum but not in crypto and think of other people no matter of the ranks did they use the word bitcoin wales /wales Correctly or did they mean in the same way correlated with other people when they use it. So I decided to Find some reading online which will help  me and other people who confused by this Vocabulary or Need to adding knowledge about the terminology for the people who are already the know it

What Is a Bitcoin Whale?

At this moment in time, the cryptocurrency market has a total capitalization of over $200 billion USD. As you may imagine, these funds aren’t distributed evenly, which means that people can individually own anywhere from a few bucks up to millions of dollars. So who are these investors? Bitcoin whales are individuals, hedge funds, and Bitcoin investment funds holding the highest amount of coins. In other words, these are the biggest Bitcoin investors on the market.

Due to the anonymity associated with Bitcoin’s blockchain network, it is difficult to say who owns what, but we know a high percentage of the coins is held by whales. At this moment in time, several of the major Bitcoin investment funds—meaning the biggest Bitcoin investors—include Bitcoins Reserve, Coin Capital Partners, Pantera Capital, Falcon Global Capital, Bitcoin Investment Trust, Fortress, and the Global Advisors Bitcoin Investment Fund. It’s believed that all these funds manage hundreds of thousands of Bitcoin, which can only enter digital currency exchanges via special arrangements.

Bitcoin whales are highly relevant to the market, as massive coin movements arranged by this group have the power of influencing prices and can create buy/sell trends. With this in mind, a Bitcoin whale that decides to sell part of their coins can plummet prices, as numerous others follow the trend and engage in panic selling. The same concept is valid when large amounts of coins simply move or are purchased.

Bitcoin Whale Stats
Now that we’ve discussed just what is a whale investor, let’s see how much of the market they own, how many of them there are, and where they’re keeping their investments.

According to a study made by ChainAlysis, at this moment in time, the Bitcoin whales group is a cluster made up of roughly 1,600 investors who hold around $37 billion in Bitcoin. This means that they hold almost one third of all the Bitcoin in circulation—close to 5 million coins. The coins are kept in wallets containing at least 1,000 BTC each.

To put things into better perspective, here are some statistics that will present how Bitcoin wealth is distributed amongst its richest users.

1633 addresses containing 1,000–10,000 BTC, or $22.8 billion USD
121 addresses containing 10,000–100,000 BTC, or $20 billion USD
3 addresses containing 100,000–1,000,000 BTC, or $2 billion USD.

Source
More Read on:: https://bitfortune.net/bitcoin-whales/

BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC

What is Bitcoin Wales Again ?

1.Bitcoin Wales is a group that shall operate over Wales and push for Bitcoin adoption and the adoption of digital currencies.
2.It aims to be the centre point for the media or government to approach about digital currency matters.
3.There is often a misunderstanding of Bitcoin and digital currencies and we aim to be there for organisations to approach in regards to clarification about Bitcoin.
4.We will educate and teach people about Bitcoin and digital currencies so that the benefits can spread wide across wales.
5.Bitcoin Wales shall operate local groups across Wales and currently operates in Newport, Cardiff and Swansea.
6.The reason we are doing this is because we believe in the profound impact of this technology and we believe that digital currencies will greatly help Wales and the people of Wales to flourish.

Souce
More Read on::   http://bitcoinwales.org/