Grayscale keeps buying bitcoin. - page 2.

Yamifoud

hero member

Activity: 2814

Merit: 518

They are buying more BTC for future purposes but this will not be correlated to the so-called 51% attack.

Quote

Grayscale is among the biggest purchasers of Bitcoin. Its total investments comprise 2.29% of Bitcoin’s entire market cap.

Even Grayscale will accumulate more Bitcoin but still, they can't control the market. I can't remember also that Satoshi puts a limit and everyone still free to get more as long as he/she is cap[able of buying it and use for legal purposes. I shouldn't have to hold them either but to let people doing it until the entire 21million BTC will be mined.

Teresa_FX1

jr. member

Activity: 42

Merit: 1

I understand that Satoshi meant 51% hashrate, I just made a comparison but as in the previous reply mentioned that Grayscale accumulated on 2.29% of the entire BTC market cap it's not that large.

Quote from: ?? on ??

There's no correlation between 51% attack and have lots of Bitcoin. What you need for 51% attack is 51% hashrate, which means lots of ASIC or access to ASIC.

n0ne

hero member

Activity: 2618

Merit: 548

SecureShift.io | Crypto-Exchange

Quote from: Teresa_FX1 on November 16, 2020, 07:13:59 AM

The biggest crypto fund Grayscale Bitcoin Trust bought another 15 114 BTC last week and fund's crypto AUM is almost $10B with 506 000 BTC. In my opinion such BTC stockpiling can be dangerous like a 51% attack but I didn't find any information is Satoshi Nakomoto ever mentioned that.

The possible chances for the 51% attack is very low. As of now the holdings Grayscale own contributes 2.29% of entire marketcap of bitcoin. With this it looks like Grayscale staking the bitcoins at regular time interval. Satoshi wanted things to be used without large scale accumulation. 2.29% doesn't look like a big accumulation.

Teresa_FX1

jr. member

Activity: 42

Merit: 1

The biggest crypto fund Grayscale Bitcoin Trust bought another 15 114 BTC last week and fund's crypto AUM is almost $10B with 506 000 BTC. In my opinion such BTC stockpiling can be dangerous like a 51% attack but I didn't find any information is Satoshi Nakomoto ever mentioned that.

Topic: Grayscale keeps buying bitcoin. - page 2. (Read 276 times)