Topic: UPDATE - page 2. (Read 5506 times)
if it dropped from 1000$ to the current level, who knows what can happen next?
I was wondering if this two factors:
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
off course yes, if some big fish decides to dump all his coin the price will go lower and lower
But some people have faith in Bitcoin, so the price is higher than certain level. The present bottom is $350.
I was wondering if this two factors:
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
off course yes, if some big fish decides to dump all his coin the price will go lower and lower
I was wondering if this two factors:
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
this two also make me afraid,they two can control bitcoin price on some exchange exatly,and they will playing chart like playing game -_- - Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
but i dont think this factors can damage bitcoin economy,as long so many developer try to develop bitcoin.
I suspect that even if what OP is saying is true that the wealth concentration will eventually redistribute. Or maybe not, who knows. Look at the wealth distribution of the US, where 50% of wealth is concentrated in 1% of the people. Not sure if that's a danger or not, but it's a reality and I think bitcoin would survive it.
i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich
This is where bitcoin is better.
Fiat currencies have intentional inflation in order to encourage spending and debt, but spending and debt is harmful to the poor - it takes from them and gives to the rich.
Unless you are wealthy, you can't afford the investments that beat inflation. So any money the poor do try to save ends up losing spending power.
Bitcoin is the opposite. If you are poor, you can save with bitcoin and you don't lose spending power. In fact your spending power of what you save increases as coins get lost.
An economy where the poor can save without losing spending power of what they save can help close the income gap.
You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.
200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.
Maybe just a bit but not enough to be significant. There are millions of bitcoins on the digital market at the moment so it really wouldn't pose that great of a threat.
You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.
200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.
maybe the price of bitcoin today is because there is million btc in hand of few people so there is no danger 
bitcoin will be safe so collect your own bitcoin
bitcoin will be safe so collect your own bitcoin We still have more bitcoin to be minted in the future. So if ordinary people buy 0.01 bitcoin each, the total amount (percentage terms) owned by few people are smaller.
You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.
maybe the price of bitcoin today is because there is million btc in hand of few people so there is no danger bitcoin will be safe so collect your own bitcoin
bitcoin will be safe so collect your own bitcoin 
I would rather have a million of bitcoins in the hand of a few people rather than corporate companies. I believe that those few people will keep working on bitcoin and not only keep the profits to themselves but wanting to help bitcoin grow and make it a success.
As i understood there are lots of people from banking system were involved in buyingcheap bitcoins. This is reality, Bitcoin is better than paper money and it is decentralised,
but we will still have rich and poor!
Firstly, it's million, not million.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
I agree. It's not really the amount which is important!
The fact is that you feel like you can't trust your exchange plateform and the site to use!
It's just the fear of being stolen which is dangerous for btc
Lost BTC isn't really an issue, it's gone and most likely never going to be recovered. Stolen BTC could be and will be a problem. Large holders are a question indeed, but if prices go up these whales are unlikely to dump their stash in one go. If they sell then more likely they will sell it in a dark pool to a corporate player or to another whale.
Exactly, the large holders are most likely not going to sell big portions of their stash at once because they know that the consequence of such a dump will the decreasing of the Bitcoin price. This is not what they want for sure.
The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.
Even if they all sell, the price will dip briefly. Even if the price dip period is one or two years, it is still short in long term.
The price dropped from $1200 in 2013 to $380 in 2016. That is just 3 years. If bitcoin exists for 100 years, 3 years is just very short term.
The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.
Even if they all sell, the price will dip briefly. Even if the price dip period is one or two years, it is still short in long term.
Firstly, it's million, not million.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
I know that after MT GOX problem, a lot of BTC has been lost... And i think some kind of milions have been lost!
What about Cryptsy? Forgot about them 
Lost BTC isn't really an issue, it's gone and most likely never going to be recovered. Stolen BTC could be and will be a problem. Large holders are a question indeed, but if prices go up these whales are unlikely to dump their stash in one go. If they sell then more likely they will sell it in a dark pool to a corporate player or to another whale.
If more and more people keep holding of Bitcoins then it will lead to downfall of bitcoin (Price won't go up as expected) ,the more number of transactions ,more the value of BTC is.
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