And another very important note: exchanges also own wallets and how much do you think is on exchanges? A lot, all packed together in a few wallets.
This is a good point but then again it wouldn't be hard to simply drop 2-3BTC and buy a few hundred million PND right now. This isn't a bad thing and it will happen in the near future I'm sure. But as the price goes up it this could fall to a few tens of millions and then a few million for a BTC and all that time the people with large holdings will steadily spread their wealth by selling off. It happened with BTC and LTC....and eventually the early guys will be kicking themselves for selling 10M for $50 instead of $500 but the crypto will be better off for it.
There are large wallets because there aren't that many players right now and I guess that is my concern, because it makes it appear as if there are too few people with too much influence over this coin. If one of them big wallet gets greedy then they could cause a crash by trying to unload it all at once. That said, you're right, it won't be people with 100M-200M that would cause a crash, it'd be people with 1B+ and luckily most of those are either devs or exchanges. In my opinion the devs have already proven themselves loyal and the exchanges need to have large amounts on hand .... so it probably isn't a huge risk that there will be a catastrophic sell off anytime soon.
