Topic: We are the 15% (Read 423 times)
I don't even know how to react to this information. But if BTC would be a "scam" then many other cryptocurrencies too. But many people nowadays do hold their money in it.
This is why the media is destroying everything. Sheep like you always listen to those flowery lies even though you haven't really researched. Those each of those 1000 wallets is not controlled by each person. Did you know that there are exchanges that hold funds of the users? You should look into that.
https://cointelegraph.com/news/long-dormant-bitcoin-whales-resuming-activity-could-rock-price-action-analysts-say
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
If that is true, Bitcoin won't take long in this technology for 1 decade or 10 years. And why they are lot of people becoming more eager and had an interest to invest in it, particularly the whale investors got involved in this type of business world. Meaning, your reason was not valid and its just your own speculation only.
The 15% in the fiat is banks, top politician, fed, and top professionals.
It is a blessing in fiat when you’re the minority.
Does it make you less fortunate to be the 15% in crypto?
It is a blessing in fiat when you’re the minority.
Does it make you less fortunate to be the 15% in crypto?
Uhm, what? How did you come up with the conclusion about bitcoin being a scam just with that statement?
Also, take note that the biggest wallets that contain the biggest number of bitcoins doesn't automatically mean 1000 people own 85% of all bitcoin. Take note that exchanges are a part of that 1000(assuming this statistic is actually true), hence, it doesn't mean that 1000 people own 85% of BTC. Take note that the top exchanges has A LOT of users. We're talking multi-millions here. Binance itself was gaining a few million of users per week. Think about it.
1000 addresses hold 85% of all BTC =/=(not equal to) 1000 people hold 85% of all BTC
Also, take note that the biggest wallets that contain the biggest number of bitcoins doesn't automatically mean 1000 people own 85% of all bitcoin. Take note that exchanges are a part of that 1000(assuming this statistic is actually true), hence, it doesn't mean that 1000 people own 85% of BTC. Take note that the top exchanges has A LOT of users. We're talking multi-millions here. Binance itself was gaining a few million of users per week. Think about it.
1000 addresses hold 85% of all BTC =/=(not equal to) 1000 people hold 85% of all BTC
correct.
without delving too deep into it I would love to know how much
bitcoin the top 10 exchanges "manage". Why not count the top
20 exchanges.
What about those people who believed in Bitcoin in the early days
and were able to mine a lot of coins and had the forsight to hold
on to them, to be able to see the future potential, I'm sure there
are quite a few of those people still with us and can potentially
be somewhere in that 1000 addresses....
Anyway if I am in this fictitious 15% I say thank you, Im glad to
be part of it.
I dont see a problem
well, if those 1000 addresses are exchange's addresses too i don't think that there can be a problem of cetralization.
https://cointelegraph.com/news/long-dormant-bitcoin-whales-resuming-activity-could-rock-price-action-analysts-say
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
How did you come with the conclusion that Bitcoin is a scam just because of 1000 addresses own 85% of Bitcoin? do you understand the meaning of scam? A scam is a fraudulent scheme performed by a dishonest individual, group, or company in an attempt obtain money or something else of value http://www.businessdictionary.com/definition/scam.html meaning that Bitcoin is not since no one owns or operating what it should do because it is decentralized. So now can you explain how can Bitcoin be able to scam people if there is no single person or company that owns it? Lets say that this stats are true, but numbers of addresses that holds huge amount of Bitcoin is not enough basis to say it is a scam. According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
part of those people are the us government. korea. maybe china.
We have no proof that the governments of some countries own some of the BTC. But due to your claims, it seems that you have proof. Mind showing us?bitcoin is becoming like fiat where the rich is a little percentage.
Bitcoin is a free market, if you own billions, then you can own billions worth of bitcoin. No one's stopping you. To be able to distribute wealth equally is none of bitcoin's goals.
part of those people are the us government. korea. maybe china. bitcoin is becoming like fiat where the rich is a little percentage. i wonder why the government would try to create fud. ha jp maybe a conspiracy.
bitcoin is a transfer of wealth when that happends it would not matter whose the riches in bitcoins.
bitcoin is a transfer of wealth when that happends it would not matter whose the riches in bitcoins.
Ifwe are only 15% from all circulation, so me only a little percent that hold supply, maybe very little. So i not really care with it, as long bitcoin can be number 1 crypto and price to be like this.
https://cointelegraph.com/news/long-dormant-bitcoin-whales-resuming-activity-could-rock-price-action-analysts-say
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
As far as I know, they are saying BTC is a scam because of the dumping of its price. People who invested in the wrong month at the wrong year are sure the majority of those people.
Nobody ever promised Bitcoin as a solution to wealth imbalance. It doesn't solve that problem. The problem Bitcoin solves is transferring money quickly and cheaply anywhere in the world and, also, providing a cryptographically secure store of wealth that a government can't arbitrarily rob.
The OP might be right that we the little purse holders are the 15% but it doesn't change anything as there are a lot of fiats distributed among a privileged few who have managed over some time through their business and influence to accumulate them.
https://cointelegraph.com/news/long-dormant-bitcoin-whales-resuming-activity-could-rock-price-action-analysts-say
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
centralised coins are quite common,
its same with ethereum (vitalik)
or ripple (garvin)
the true scam comes from the cryptocurrency index system that defines "shitcoins" and "nonshitcoins"
this distinguishinsation will weaken in time
You can say the same thing about every currency to have ever existed. Eight people own more than the entire bottom half of the population. Whether it is USD, Euro, gold, or crypto the majority of the supply will end up in the hands of the few that own capital that creates the actual wealth.
as soon as usd collapses these 8 people are poor as an average person
Nobody ever promised Bitcoin as a solution to wealth imbalance. It doesn't solve that problem. The problem Bitcoin solves is transferring money quickly and cheaply anywhere in the world and, also, providing a cryptographically secure store of wealth that a government can't arbitrarily rob.
https://cointelegraph.com/news/long-dormant-bitcoin-whales-resuming-activity-could-rock-price-action-analysts-say
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
According to this, 1000 addresses own 85% of ALL the bitcoins out there. If that is true, then bitcoin is a scam.
Giving a conclusion from a mere statement is simply nonsense. How come that bitcoin is a scam from just owning it by large entities? Bitcoin did not promise us anything but only as a means of transferring money and we enjoy it everyday thanks to blockchain technology.
Many of the Bitcoin adresses with most bitcoins are hold of the same people, its not 1000 different people or exechance who have access to the top 1000 bitcoins adresses.
Just like there's not more than a million different people who own all the adresses with less than 0.001 Bitcoins
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html#
Just like there's not more than a million different people who own all the adresses with less than 0.001 Bitcoins
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html#
Having a centralization in bitcoin is not new since the entry of big investors. But to say that this centralization makes bitcoin "scam" is rather irrational.
Here a look of the bitcoin rich list address, where is pointed out the addresses which are owned by exchanges:
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
It is addresses that hadn't done anything for the last two years. That is not exchanges. That is whales seing off. It states there is 40% more BTC in circulation since they started selling.
Maybe actually take a look at the link that was showed to you? Most of the top addresses has sent a transaction since 2018. Cut the crap. Seriously. "This is not exchanges", well crap. The name of the exchanges are even stated in that link.
The figures might not be accurate, but it's no secret that little hands hold a larger percentage of the entire bitcoin in circulation, some of which would be first adopters who got in when it was very cheap or free.
Bitcoin is decentralized, but the system can not limit the amount one can purchase. The system is not regulated.
As it grows in adoption and utility, circulation is likely to increase.
Bitcoin is decentralized, but the system can not limit the amount one can purchase. The system is not regulated.
As it grows in adoption and utility, circulation is likely to increase.
Based on this, we cant conclude that bitcoin is a fraud. Do not forget that many of them could lose access to their wallets. It is known that about 15% bitcoins were lost. So anything terrible is not present that. Bitcoin is not a Scam.
According to your logic, fiat is a scam
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