Random thought of a boy concerning Bitcoin

GreatArkansas

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

Correct me if I am wrong, I am just a small boy anyway, so what do I know? To me whales are losing power with Bitcoin adoption, years ago whales are in charge of many Bitcoin and many people are saying, only few people control Bitcoin, since they own many Bitcoin, but right now Bitcoin is spreading to every corner of the world, I am not saying that whales still don't have power, I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

For me, it really does not matter at all. Because the Bitcoin network itself is not controlled by anyone. I believe these whales are mostly traders who try to make money from their huge bags. So overall, I can consider these whales as normal traders who just want to make some money.
About manipulation, yes for me it's possible but if you are a trader, it really matters to you.

Plaguedeath

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The main question is how do you know if there's less whales nowadays? if you refer to the number of richest Bitcoin address, do you think a person only have one address? or do you think the Bitcoin address is controlled by one person, not the exchange's hot wallet?

You're just making an assumption here, there's no one can know the number of whales on few years ago and now, because any whales will try to be private as possible except a Bitcoin influencer.

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

Correct me if I am wrong, I am just a small boy anyway, so what do I know? To me whales are losing power with Bitcoin adoption, years ago whales are in charge of many Bitcoin and many people are saying, only few people control Bitcoin, since they own many Bitcoin, but right now Bitcoin is spreading to every corner of the world, I am not saying that whales still don't have power, I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

You need to clear your concepts a bit. No whale can control the bitcoin, yes those have large amount of bitcoin, they can sell the coins to create an impact on the market. Similarly, anyone with billions of dollars can buy bitcoin leaving an impact on the market. Mostly exchanges hold a lot of bitcoin and they just do the pump or dump to liquidate positions.
Also, even if we believe you, then it is good that whales are losing power and bitcoin is vastly spread among the masses. Remember when bitcoin will be adopted all over the world, no one would have the power to influence bitcoin price.

mindrust

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

Correct me if I am wrong, I am just a small boy anyway, so what do I know? To me whales are losing power with Bitcoin adoption, years ago whales are in charge of many Bitcoin and many people are saying, only few people control Bitcoin, since they own many Bitcoin, but right now Bitcoin is spreading to every corner of the world, I am not saying that whales still don't have power, I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

Why would the whales lose their power as long as they don't lose their coins to someone else? A whale of yesterday is still a whale today and he still has the same power he had yesterday. Why do you think they are having less bitcoins than before? Do you think they are losing the buy low sell high game? They never lose. Only the small fish lose that game. Whales are whales because they know how to play this game.

ethereumhunter

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The whales do not control the bitcoin price. If we talk about the past, the whales with a lot of bitcoins can move the bitcoin price but for now, I don't think the whales can do it because it means they need a lot of money. Maybe they could make a fishing rod to get people interested and think the whales did something for the price.

And now the whales may follow the bitcoin price. Buy when the price drops drastically and wait for it to rise before selling it. The whales were more familiar with such games to profit than the common people.

rat03gopoh

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

But conversely, there are also weak hands despite holding only a few sats. As negative news and FUD spread, the whales will take the opportunity to catch and accumulate possessions sats by sats from those weak hands sales.

Besides, CEX owners are whales. They don't legally own the bitcoins, but they're in full control of all the customer's bitcoins.

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Quote from: siedemtrzy on March 17, 2023, 12:03:38 PM

Quote from: Ever-young on March 17, 2023, 11:49:06 AM

Whales don't control Bitcoin they are just holders like you and I, the differences is that they hold huge amount why you hold small amount, when they sell the price most time shakes, because they can cause panic in the entire market, but it doesn't not in any way means they have power of control over the currency Bitcoin.
To the level of my knowledge and understanding. Bitcoin is not controlled by anyone.

Whales don't control it, but they can affect price. For a lot of people it's a lot, but I only see it as opportunity to follow them sometimes. If they sell - you buy. If they buy - you keep holding or sell.

I think that's the point of the OP in mentioning the power and control of whales, they only affect the market price but it doesn't mean they can control the bitcoin. It's still volatile even they hold a huge amount it might still increase or decrease. Whales by just simply selling a huge amount of bitcoin could affect it's price but eventually it will came back in it's current price because a lot of people would buy and the supply of bitcoins will be back. No one control bitcoin that's why its decentralized even government can't do anything to have tax from it.

fuguebtc

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Quote from: Ever-young on March 17, 2023, 11:49:06 AM

Whales don't control Bitcoin they are just holders like you and I, the differences is that they hold huge amount why you hold small amount, when they sell the price most time shakes, because they can cause panic in the entire market, but it doesn't not in any way means they have power of control over the currency Bitcoin.
To the level of my knowledge and understanding. Bitcoin is not controlled by anyone.

Bitcoin is not controlled by anyone but those who hold large amounts of bitcoin, they can manipulate the bitcoin price in their favour. To me, bitcoin is still a market manipulated by oligarchs rather than relying on supply and demand. The financial market, cryptocurrency is the youngest market and has not been regulated or regulated by any government agency, so manipulation takes place a lot in the market. Hopefully, in the future, when the market is more mature, the manipulation will disappear so that we have a fairer and cleaner market.

Gayong88

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Within the cryptocurrency community, individuals or organizations who own large amounts of Bitcoin and have the power to manipulate the value of Bitcoin are known as whales. I think that until now whales are still influential in the Bitcoin market and are the caretaker. Especially if a group of whales decides to unite, the impact is very significant.

What you say is true, regarding their strength starting to decrease. Why is that?? This is due to the growing adoption of Bitcoin which is increasing which allows more people to access and use Bitcoin.

The proof can be seen in the increasing number of exchanges and wallets that store large amounts of Bitcoin. As more people join the network, the number of whales holding large amounts of Bitcoin decreases, making it more difficult for them to manipulate the market.

MusaMohamed

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

To me whales are losing power with Bitcoin adoption, years ago whales are in charge of many Bitcoin and many people are saying, only few people control Bitcoin, since they own many Bitcoin

Many of early whales lost their bitcoins because they thought it was a joke, just wanted to try and did not save their private keys.

Quote

but right now Bitcoin is spreading to every corner of the world

The adoption is increasing but it does not mean it has reached to every corner of the world. Even so, not all people accept Bitcoin at every corner of the world.

Quote

I am not saying that whales still don't have power, I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

You should know, the rich get richer and the poor get poorer.

Whales if they successfully to be whales after many years, they are smart enough to enrich their assets including bitcoin they have. Your sentence does not have any clue.

Bitcoin adoption curve is good but Pareto principle is here and I believe it is true for Bitcoin distribution as well. 80% of bitcoin belongs to whales, 20% belong to small holders.

Address with balance >0.1 BTC
Address with balance >10 BTC
Address with balance >100 BTC
Address with balance >1000 BTC

Whales have enough money after taking profit and enough patience to buy Bitcoin when they see good entries.

Lucius

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Quote from: un_rank on March 17, 2023, 01:13:09 PM

I have no clue what you mean by power of the creator and the influence of influential people is very limited, more notably if you are speaking down on bitcoin.

If you are really interested, you should look at some of his topics, and then it will surely be clearer to you what he meant. I was hoping that he finally left those ideas behind, but it seems that he will take the credit again because the price of BTC is rising...

People who have large amounts of BTC can influence the market, the only question is whether they want to and to what extent. Of course, when it comes to profit, whales behave like the real killer whales in the oceans, and small fish don't stand a chance against their tactics if they trade. A lot of money usually creates more money, and a little money usually leads to a complete loss. We must know that someone's loss is always someone's gain, so if 95% of crypto traders lose, that means that those 5% make exceptional profits.

Mate2237

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We don't know your real age here and it doesn't matter for anyone here. No one is interested to know your age. You can be claiming to be a small boy who knows how to use the internet even coming to bitcointalk forum yet a small. You can't deceive me.
One can't say whales do not control bitcoin, if there are whales in bitcoin then they must have influence in it. Mostly the price can be influence by the whales but bitcoin itself can not be controlled because bitcoin operates in a decentralized system in which individuals who have the coins do what they want and not others do anything like deduction of different kinds of levies for weekly and monthly. In bitcoin you only pay a transaction fee in the process of transferring the coin to another wallet.

pooya87

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There are definitely whales who have lost bitcoin over the times they go against the market. We sometimes see this whenever price shoots up despite their attempts at market manipulation by dumping large amounts or placing big sell walls hoping it could prevent the rise.
But there are also whales who were smarter and didn't go against the market and actually increased their wealth.
In any case the way bitcoin blockchain is makes it hard to come to any conclusion about how many whales there are and how much bitcoin they own or whether their "wealth" has gone up or down.

un_rank

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- Leo -

Quote from: Kalchef on March 17, 2023, 11:17:32 AM

To me whales are losing power with Bitcoin adoption
...

I am in agreement with you on whales not being as influential as they once were when it comes to bitcoin. Adoption means that the circulation of an asset becomes decentralized, making it difficult for the price to be influenced by any group.

Quote from: Ucy on March 17, 2023, 12:43:56 PM

And, if you are influential person, you can make the price increase by speaking well of it or with the Power from our CREATOR.

I have no clue what you mean by power of the creator and the influence of influential people is very limited, more notably if you are speaking down on bitcoin.

- Jay -

KaliLinux

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Quote from: Ever-young on March 17, 2023, 11:49:06 AM

Whales don't control Bitcoin they are just holders like you and I, the differences is that they hold huge amount why you hold small amount, when they sell the price most time shakes, because they can cause panic in the entire market, but it doesn't not in any way means they have power of control over the currency Bitcoin.
To the level of my knowledge and understanding. Bitcoin is not controlled by anyone.

Rightly said. I believe because of the notion that the whales are in hold of large amount and as you mention, their sales can distort the price of Bitcoin people relates that to them being the ones that control Bitcoin. I have heard that statement more times than I can count or maybe Grin

but if they really control Bitcoin, couldn't they just keep the market up all the time instead of this long bear season?

livingfree

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

Correct me if I am wrong, I am just a small boy anyway, so what do I know? To me whales are losing power with Bitcoin adoption, years ago whales are in charge of many Bitcoin and many people are saying, only few people control Bitcoin, since they own many Bitcoin, but right now Bitcoin is spreading to every corner of the world, I am not saying that whales still don't have power, I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

It doesn't matter whether the whales are losing power and nothing will change the fact that they've got more bitcoins and they still have a huge influence to the market and its community.

If they're losing less bitcoin, it's also possible that they're experiencing the opposite of gaining more due to their experience and resources.

IMHO, the real powerful folks for moving the price of bitcoin aside from FED are those really influential and wealthy people that has got a household name on their each industries.

Ucy

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

Correct me if I am wrong, I am just a small boy anyway, so what do I know? To me whales are losing power with Bitcoin adoption, years ago whales are in charge of many Bitcoin and many people are saying, only few people control Bitcoin, since they own many Bitcoin, but right now Bitcoin is spreading to every corner of the world, I am not saying that whales still don't have power, I am just saying they are having less Bitcoin than before and it's getting to the hands of many more people.

Ofcourse, Whale lost control since Bitcoin became very sophisticated and hard for them to understand or control. It's not really much about demand and supply thesedays. It's recalculated to include "Clean Bitcoin"... 0.0002 clean BTC could be worth more than 10 dirty BTC with the recalculation.
Besides, working for the good of Bitcoin can also increase the price and make it more valuable. And, if you are influential person, you can make the price increase by speaking well of it or with the Power from our CREATOR.
Hope with the above criteria you may be able to guess who currently controls the price. Very few people are qualified.

Aanuoluwatofunmi

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Quote from: Kalchef on March 17, 2023, 11:17:32 AM

Snipped

Is this the reason why you created the thread just to inform us that bitcoin is now no more only in the hands of whales but also spread out to individuals? to be frank with you there's nothing new here to learn from what you just posted because everyone knows both the whales and individual person can have bitcoin in their possession as long as they were ready to invest, hodl or sell, you could have just make this as a reply on other topics than creating a new thread with less quality post as this, i encourage you to read on this link below https://bitcointalksearch.org/topic/low-quality-topics-do-not-belong-here-1649348

siedemtrzy

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Quote from: Ever-young on March 17, 2023, 11:49:06 AM

Whales don't control Bitcoin they are just holders like you and I, the differences is that they hold huge amount why you hold small amount, when they sell the price most time shakes, because they can cause panic in the entire market, but it doesn't not in any way means they have power of control over the currency Bitcoin.
To the level of my knowledge and understanding. Bitcoin is not controlled by anyone.

Whales don't control it, but they can affect price. For a lot of people it's a lot, but I only see it as opportunity to follow them sometimes. If they sell - you buy. If they buy - you keep holding or sell.

Ever-young

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Whales don't control Bitcoin they are just holders like you and I, the differences is that they hold huge amount why you hold small amount, when they sell the price most time shakes, because they can cause panic in the entire market, but it doesn't not in any way means they have power of control over the currency Bitcoin.
To the level of my knowledge and understanding. Bitcoin is not controlled by anyone.

Topic: Random thought of a boy concerning Bitcoin (Read 157 times)