Topic: One thousand people control 40% of Bitcoin (Read 978 times)
Since bitcoin is starting to be not available to many on the market, it is possible that people will be holding on to heir respective btc as time passes.
https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market
Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control
oh no. i don't expect that thing but i can't stop thinking possitive to the health of bitcoin and also prayed that all of the hackers who wants to destroy bitcoin is die before they do that shit attitude! Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control
I have heard this news 2 months before when my knowledge about bitcoin was very little and my reaction was like how unfair it is that our faith of investment is totally dependent on them as if they pull their money out prices would definitely dump but when i started to gain some knowledge and did research,this people's motive is how to invest their black money and make it white.They can't pull their whole money out at one time and due this people prices also rises making it profitable to other small investors so there is no need to fear and have trust on bitcoin.
I have heard the same kind of news saying that half of BTC mined is owned by the top 1000 investors of BTC. This does seem scary but I don't think it is that bad since it would take them quite a lot of time to withdraw such big amount. Imagine for yourself, how would you cash out 1000 BTC if you had them, at once. Obviously your bank wouldn't allow such huge transaction and would probably seize your account if they see such huge incoming transaction. Forget about Cash because nobody will be able to provide such a huge amount of cash at once. People will only be able to withdraw it little by little and they can only use it to buy products and services.
As I read the article it appears that the writer simply need to offer cautioning to different clients which could be the little fishes. Be that as it may, do I feel frightening, I think not. In the event that they are truly could control the value in this way, one astute fish could basically run with the whale to make swimming and exploring to the profound bitcoin showcase sheltered and secure. Notwithstanding, as I check the connection from "stompix" if the connection he shared is the source, you can look at that not half of the address have a couple of times of cashed out, and not as much as a hundred is active with nearly everyday exchanges
if that's true, that's why bitcoin will never become a currency, which big company would accpet the bitcoin when it is not regulated? some do it to ride the wave that's all
Shit, i don't wanna to believe this, but since Bitcoin was a commodity, still any possibility for this become true news.
Bitcoins was become store value asset, when some people want to make control this, they will have buying a lot of bitcoins from several market and stored it on their wallet. But based your topic 1,000 which controlled 40%, i can't say to be trues, as some dev and exchanger owner market to be calculated there's only some hundred.
Bitcoins was become store value asset, when some people want to make control this, they will have buying a lot of bitcoins from several market and stored it on their wallet. But based your topic 1,000 which controlled 40%, i can't say to be trues, as some dev and exchanger owner market to be calculated there's only some hundred.
https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market
Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control
Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control
I don't know, man. I think this article is more on a speculative stance and have no solid evidence for the percentage of the whales out there, much more of saying the are in contact with each other. As written in the article: "I think there are a few hundred guys,” says Kyle Samani, managing partner at Multicoin Capital. “They all probably can call each other, and they probably have.” As you see, his words are merely speculation and based on his gut feel. Unless he can name a few whales he personally know who really are in contact with each other.
I think that it's not possible to dermine the exact percentage or number of people who are holding the majority of overall bitcoins. Still I belive that this is rather small group of people and this is the one thing that some users don't like and say that bitcoin is reserved only for rich and that bitcoin is not really independent but actually controled and manipulated by this group of people. That wouldn't exactly be my choice of words but I would say people who held the majority of bitcoins influence it great deal.
That's quite scary for someone like me who has life plans based on BTC 
Considering that BTC has a cap on market supply, the whales would get a lot more powerful years from now.
wow all your financial plans are built in btc. I know the return has proven fantastic but wouldn't you feel better diversifying Considering that BTC has a cap on market supply, the whales would get a lot more powerful years from now.
Fortune is always controlled by few people. But don't worry, someday you will be in their list, believe me.
In general I would not say it's a problem of how many people controle something.
It only matters how they use their power of controle.
And those guys who own that much coins, they probably want to keep their wealth.
That's why I highly doubt they will do something stupid with their coins.
It only matters how they use their power of controle.
And those guys who own that much coins, they probably want to keep their wealth.
That's why I highly doubt they will do something stupid with their coins.
Unfourtunately cryptos are new and it is vulnerable for such things, but I believe these things are normal in this phase and it will be better or worse with the time. We`ll see
Quote
About 40 percent of bitcoin is held by perhaps 1,000 users; at current prices, each may want to sell about half of his or her holdings, says Aaron Brown
As you can see the article is only guessing the number of people holding the 40% of Bitcoin available in the market. However the rest of what the article is saying is true. Whales are the ones responsible for the price of Bitcoin to move drastically whether going up or down. They are the market influencers even if they don't want to as quantity is really one of the biggest factors that can move and influence other traders to do the same.
40% control is a lot, but on the other hand, so are 1,000 people. This still means that Bitcoin is spread out.
I think that 50% of people are controlling the bitcoin. today is known for bitcoin in different countries. That's in part a lucky pool of investors who bet on a cryptocurrency strongly linked to the dark net just a few years earlier. But newer bitcoin investors trying to jump on board should be aware: That also means those 1,000 or so people have outsized ability to influence bitcoin prices.
That's quite scary for someone like me who has life plans based on BTC
Considering that BTC has a cap on market supply, the whales would get a lot more powerful years from now.
Considering that BTC has a cap on market supply, the whales would get a lot more powerful years from now.
"It’s not necessarily illegal for big holders of some cryptocurrencies to discuss trading with one another. That puts small buyers at a disadvantage." - somehow this is reality, there is always a leader in a moving line, who dictates where and when to turn, that is their privilege for being the first one who owns huge bitcoin. we all have to follow.
it's not illegal because crypto is not regulated. If it were a regulated like a stock it would be illegal
I do not know how many people in this world hold a percentage of bitcoin. But the trend toward owning virtual currency is becoming hotter than ever. Perhaps co-bitcoin will be the center and forever a coin of the future, of the times
it seems that it is true news because at this time many people are starting to glance and invest their savings into Bitcoin, therefore it is true that 40% of Bitcoin shares held by approximately 1000 people, their shares may be more than 2% of the total Bitcoin of the world, Bitcoin's current price can not be separated from the control of large investors who have begun to enter into it
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