Bitcoins in hands of whales - should be worried?

traderethereum

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Quote from: Nawrod on May 30, 2019, 06:42:05 AM

According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins?

How they know for sure about that?
They should have a tool that could know the exact number of bitcoin that is in the hands of whales.
I wonder who is the whales who buy a lot of bitcoin so far because they must have huge money to buy bitcoin at any price.
But I don't think that is a danger if the whales buy a significant amount of bitcoin because they can buy a lot of amount of bitcoin they want with their money.

uneng

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Yes, many btcs on the hands of few investors is very worrying, however there is nothing we can do about it, as we are in a free decentralized market. One of the games rules is to accumulate most coins as possible, if you want and if you can.
The consequences are well known: manipulated market, many highs and lows, unwarranted fluctuation in price.

figmentofmyass

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there's no need to be concerned. ultimately, the bitcoin supply is getting more and more distributed over time as early adopters cash out and distribute their coins into many more hands. as long as price keeps rising, this process will continue.

Quote from: Nawrod on May 30, 2019, 06:42:05 AM

According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins?

i would take those stats with a bucket of salt. they can't possibly gauge OTC trading or deduce from exchange APIs how many coins are going into the hands of "whales".

let's assume the stats are true for a moment. how many of those 450,000 BTC were sold by whales? whales accumulate and distribute, just like the rest of us.

kawetsriyanto

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Why should I worry if a lot of Bitcoin is in the hands of whales? It's not like that in the past, and if we as small investors, we will definitely get the impact (good and bad) of the game of the whales.
But the most important thing is not to make these worries make us easier to panic, impatient, and also careless in reading markets, taking decisions, and also strategies that should be in accordance with the current market conditions. Don't let us carry on in the game of the whales.

AjithBtc

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Majority of the contribution to the market is from the whales. With this it is impossible to take away them from the market which will lead to entire collapse of the cryptocurrency market. With the ongoing market trend there is nothing to get worried, because beyond certain limit it isn't possible for them to manipulate the market, so keeping track of the price chart and knowing how to make trading analysis will help with perfect understanding about the market and the right time to invest.

Payme21

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I couldn't agree more with those that supports this claim. If its true that the whales hold this Large chunk of btc, it means that the market might be manipulated by them

john_nautica

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Quote from: Nawrod on May 30, 2019, 06:42:05 AM

According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins?

the danger that arises is that the price of bitcoin will be hit by a severe dump and that must be the case if the btc whale releases all the btc, but we hope the popes can do their best and not destroy the price of btc.

Nasonn

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Yes, it is. Anyone with that amount of BTC can influence the market price negatively is they wish to but I hope it won't ever come to that.

bittraffic

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Quote from: Jet Cash on May 30, 2019, 05:41:44 PM

I think some people have come to realise that if you "store" Bitcoin in a hardware wallet, and then you sell that wallet, the transaction is completely untraceable and unrecorded. This is probably the new cash, and is a great way to move large sums across borders. you can expect to see more large and apparentlt dormant addresses in the future.

An ideal way, but that might happen in the later years because if you sell huge amount of BTC these days, those who wanted to buy the hardwallet are going to be very suspicious. Its is very untraceable but once those who bought the coins get to send then into a CEX where they submit KYC, its going to be traceable to the buyer. They would eventually have to put it on big exchange if they are to trade.

suzanne5223

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Quote from: Naida_BR on May 30, 2019, 12:58:00 PM

Quote from: Nawrod on May 30, 2019, 06:42:05 AM

According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins?

This feature in the cryptocurrency markets is opposed to the decentralized ecosystem that they people want to make transactions at.
If there are whales then the network is centralized and not decentralized. Thus, it is something that worries me a lot, especially in the case where bitcoin tries to jump on a bull market.

Of there are whales which sometimes manipulate the market an example is apple co-owner which sold thousands of his holding before the last market blood bath/correction.
If you're familiar which physics there's law which stated "that machine can never be 100% efficiency" same thing apply to everything in the world for nothing is totally perfect, just because Bitcoin is decentralized does mean it won't be manipulated at least is not control by government or central banks.

Pipdips

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Quote from: gentlemand on May 30, 2019, 11:09:11 AM

That would be ludicrous. You don't get to that position by cooperating. You get there by fucking as many people as possible and leaving them for dead. If this mythical group had their collusion all set up then if there was any advantage to break from it and get one over on everyone else they're all going to do it.

I think such a scenario is likely. Satoshi even claimed that one day Bitcoin will either be worth $1,000,000, or it will be worth $0. In our lifetimes, it will possibly reach at least one of those prices.

bering

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In this case i worried about that because if there is some of people who identified as a whales move huge amount of coins to the particular wallet people starting to worried because more likely those coins eventually will be dumped and regarding the whales some of people including me strongly believe whales have a power to manipulate the price because they have a lot of bitcoin in their hands but regarding bitcoin amount they have i think the whales have more than 450k btc

mk4

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Quote from: kryptqnick on May 30, 2019, 01:07:08 PM

It's true that some movement can be caused, but I really think people are overreacting when it comes to the power of 'whales'. For instance, the op is talking about 450k BTC. While it seems to be a lot, it's only 2.5% of the current total supply.

It's actually indeed a lot. May not be that much when comparing it to the total supply of bitcoin(though 2.5% is still big), we're talking about the markets here. Exchanges. Not 100% of existing bitcoins are being traded, so there won't be enough liquidity for a 450k BTC dump to not crash the markets.

jhongzjhong

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Yes, if they have held a significant amount of Bitcoin probably they can do controlling the price of the market. They can do pump and dump like what happen last yeat that bitcoin holds at $4k range price in the market. Whales can do more controlling the market if they have a huge amount of bitcoins hold. They have a strategy of how to play well the market or just maintain in the lower price.

Jet Cash

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I think some people have come to realise that if you "store" Bitcoin in a hardware wallet, and then you sell that wallet, the transaction is completely untraceable and unrecorded. This is probably the new cash, and is a great way to move large sums across borders. you can expect to see more large and apparentlt dormant addresses in the future.

carrigan

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I think that so far, there are always whales that hold the big numbers of Bitcoin volume. And it is normal enough because they will be always here. Sometimes, we are fearful of them but they can also be one of the ways for the normal condition of the market.
So, whether there are big whales holding a big amount of BTC or not, never put it in your fear forecast. Just make sure that your strategy is great and appropriate to this certain market conditions.

bloodyvio

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it would be very bad if they decided to sell all of their bitcoins
450k BTC will greatly affect the price of cryptocurrency, not just the price of bitcoin but this will affect the prices of other altcoins
because bitcoin still dominates the cryptocurrency marketcap

muratsink

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Of course. they always control the crypto market. when whales sell their assets while the spread and market volume are low, the BTC market will fall drastically.
and we must to worry about their decisions. especially when they decided to sell high amounts of BTC.

kryptqnick

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Quote from: mk4 on May 30, 2019, 06:46:27 AM

Not sure if the information on that website is legitimate, but to answer your question:

Quote from: Nawrod on May 30, 2019, 06:42:05 AM

You think is it any danger in whales holding so significant amount of Bitcoins?

Of course there is. Not sure if you can count this as "danger", but whales can significantly move markets by simply dumping their BTC; and there's nothing we can really do about that. This is how open markets work, even outside of the cryptocurrency space. As time goes on though and assuming market liquidity increases in the future, it will significantly get harder and harder for them to move the markets.

It's true that some movement can be caused, but I really think people are overreacting when it comes to the power of 'whales'. For instance, the op is talking about 450k BTC. While it seems to be a lot, it's only 2.5% of the current total supply. Moreover, it's not like 1 person has control over this sum. It's a bunch of different investors with different motives and decisions. That is, of course, if the article is even telling the truth. The real power over the market is informational attacks, leading to chain reactions of panic selling. And it's something that we are a part of, and something that might stop happening often with time.
P.S. Op, referral links are not allowed on this forum, and yours seems to be a referral one.

Naida_BR

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Quote from: Nawrod on May 30, 2019, 06:42:05 AM

According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins?

This feature in the cryptocurrency markets is opposed to the decentralized ecosystem that they people want to make transactions at.
If there are whales then the network is centralized and not decentralized. Thus, it is something that worries me a lot, especially in the case where bitcoin tries to jump on a bull market.

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