Is it possible for somebody to collect all bitcoins? - page 2.

CrackedLogic

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Quote from: Yakamoto on July 21, 2014, 12:57:26 PM

Quote from: CrackedLogic on July 21, 2014, 12:55:40 PM

Quote from: seriouscoin on July 21, 2014, 12:51:06 PM

what kind of dump shit is this? This forum contains more idiots everyday....

You're quite serious about your coin.

So this is a sold account huh...

How old are you? These aren't what mature people would say, and they'd not reply with a crappy response such as yours.

I agree with him fully. This forum keeps getting populated with idiots and it's getting annoying.

I was trying to play a pun with his username but okay.

I'm 15 by the way, that would explain it. Let's end the argument there.

kokojie

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Quote from: johnd7 on July 21, 2014, 12:23:27 PM

Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

lol you are extremely lucky if you could buy 10% of all bitcoin on open exchange with 1 billion dollars. Then the next 10% would cost you at least 10 Billion.

Yakamoto

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Quote from: Cryptopher on July 21, 2014, 12:56:00 PM

Quote from: CrackedLogic on July 21, 2014, 12:47:46 PM

Quote from: Yakamoto on July 21, 2014, 12:44:43 PM

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Lets say this person decided to buy them after 2140.

I it seems like, I was just quite curious when I thought of that.

You got the quote BB code the wrong way then, that wasn't my quote - it was Yakamoto's. I've corrected it as above

Thanks dude Cheesy

Yakamoto

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Quote from: CrackedLogic on July 21, 2014, 12:55:40 PM

Quote from: seriouscoin on July 21, 2014, 12:51:06 PM

what kind of dump shit is this? This forum contains more idiots everyday....

You're quite serious about your coin.

So this is a sold account huh...

How old are you? These aren't what mature people would say, and they'd not reply with a crappy response such as yours.

I agree with him fully. This forum keeps getting populated with idiots and it's getting annoying.

Cryptopher

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Keep it dense, yeah?

Quote from: CrackedLogic on July 21, 2014, 12:47:46 PM

Quote from: Yakamoto on July 21, 2014, 12:44:43 PM

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Lets say this person decided to buy them after 2140.

I it seems like, I was just quite curious when I thought of that.

You got the quote BB code the wrong way then, that wasn't my quote - it was Yakamoto's. I've corrected it as above

CrackedLogic

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Quote from: seriouscoin on July 21, 2014, 12:51:06 PM

what kind of dump shit is this? This forum contains more idiots everyday....

You're quite serious about your coin.

Yakamoto

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Quote from: Yakamoto on July 21, 2014, 12:44:43 PM

Quote from: Cryptopher on July 21, 2014, 12:40:34 PM

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Lets say this person decided to buy them after 2140.

I it seems like, I was just quite curious when I thought of that.

What is this? Why are your things mine, and vice versa?

Plagiarism much?

Get it right.

This is still a poor argument, few people will buy all the coins after 2140, and chances are you'll be dead by then.

EDIT: Oh ho ho! Nice trick! Not going to work.

juju

sr. member

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Quote from: CrackedLogic on July 21, 2014, 12:12:06 PM

Do you think it would be possible for a person/entity to collect all bitcoins?

Like they only buy bitcoins and mine them and accept it as a form of payment.

Is this theoretically possible? it should be right?
what's stopping them?

Its impossible because many of us would never sell our coins for fiat currencies. I think alot of us will not spend coins until they are ubiquitous and are spendable nearly everywhere. This diverges from your topic a bit but something that I think people come to realize is you don't want to exchange your Bitcoin for Fiat value, what good is this except to garner more Bitcoin. You want to spend your Bitcoin as is on goods and services. Because of that I don't think anyone will ever be able to buy all of the coins existed.

Cryptopher

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Keep it dense, yeah?

Quote from: spazzdla on July 21, 2014, 12:48:18 PM

My last 100 mBits is $7,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00 So do you know anyone with that kind of $?

I know a few governments who might be able to have a whip round and generate that sort of figure Wink

seriouscoin

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what kind of dump shit is this? This forum contains more idiots everyday....

spazzdla

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Quote from: CrackedLogic on July 21, 2014, 12:12:06 PM

Do you think it would be possible for a person/entity to collect all bitcoins?

Like they only buy bitcoins and mine them and accept it as a form of payment.

Is this theoretically possible? it should be right?
what's stopping them?

Do you think it would be possible for a person/entity to collect all bitcoins? No

Is this theoretically possible? No some have been destroyed, someone *could* buy all the ones not destoryed/lost.. but..(see what is stopping them)
it should be right? ?? I assume you mean is it moral to allow this.. yes it is the idea of capatilsm has been so twisted..
what's stopping them? My last 100 mBits is $7,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00 So do you know anyone with that kind of $?

CrackedLogic

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Quote from: Yakamoto on July 21, 2014, 12:44:43 PM

Quote from: Cryptopher on July 21, 2014, 12:40:34 PM

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Lets say this person decided to buy them after 2140.

I it seems like, I was just quite curious when I thought of that.

CrackedLogic

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Quote from: Cryptopher on July 21, 2014, 12:40:34 PM

. Plus how could you prove that the other coins were unavailable?

That may be a problem. Nice thinking though, although it was quite blatant I don't think i would of thought of that.

Yakamoto

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Quote from: Cryptopher on July 21, 2014, 12:40:34 PM

They would constantly need to know what is the number of available bitcoins. That figure could change as time goes on during their quest to collect and hoard. Plus how could you prove that the other coins were unavailable?

Added the fact that they would need to wait until all bitcoins are mined, and that the remaining bitcoins would need to be sent with no transaction fee, or hashed by the said person solely.

At least those are some of the assumptions in my mind...

Well my coins are unavailable, so you got your answer there.

The number is kind of unknown, since an unknown number of coins have disappeared and been destroyed, and so 13 million is just an estimate.

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Yakamoto

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Quote from: CrackedLogic on July 21, 2014, 12:31:41 PM

Quote from: johnd7 on July 21, 2014, 12:23:27 PM

Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

Lets say all available bitcoins.

Good luck with that.

Most people hold, and hold, and hold, and hold...

It is IMMENSELY difficult to purchase all BTC in existence, since a lot of coins are still being held by people. Plus it would destroy their own cause, because if you own all the coins, then no-one else wants them, and the price drops to $0, since everyone would have moved to other coins.

They're no stupid, and they thought it out. It won't work.

EDIT: ~~And there have been plenty of threads about this. Go read and search for them. You'll get your answer.~~

Cryptopher

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Keep it dense, yeah?

They would constantly need to know what is the number of available bitcoins. That figure could change as time goes on during their quest to collect and hoard. Plus how could you prove that the other coins were unavailable?

Added the fact that they would need to wait until all bitcoins are mined, and that the remaining bitcoins would need to be sent with no transaction fee, or hashed by the said person solely.

At least those are some of the assumptions in my mind...

CrackedLogic

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Quote from: johnd7 on July 21, 2014, 12:23:27 PM

Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

Lets say all available bitcoins.

CrackedLogic

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Quote from: str4wm4n on July 21, 2014, 12:26:55 PM

bitcoins = pokemon

Gotta catch 'em all!

What would happen if somebody collected all of them and they sold 1 bitcoin for like $50000,would you move onto another coin or would you try to get the coins circulating again?

str4wm4n

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bitcoins = pokemon

johnd7

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Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

Topic: Is it possible for somebody to collect all bitcoins? - page 2. (Read 2039 times)