What happen "if" someone have all of bitcoin? - page 3.

n691309

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

It's impossible because bitcoin is designed to work differently from what you wrote, a person can nkt have/earn (not even buy) all bitcoins. What happens is that another coin will "replace" bitcoin and exchanges will have that coin as a base and main coin like btc now.

Senor.Bla

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We are still mining, so it is not very likely to be alive when the last coins are mined. Some are lost and i do not see how you would recover them. As you buy all the coins up the price would go up a lot and you would have a hard time to buy the coins. What could be possible is to manipulate the Blockchain so you own them all. But this seems to be unlikely and would be the end of Bitcoin.

RealPhotoshoper

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Quote from: n0ne on January 20, 2017, 03:05:59 AM

That's truly impossible. Is it possible to get hold of entire fiat into the hands of a single hand or a group of community. Same is with bitcoin, though it has got the calculated number of bitcoin to be generated within a targeted year. If someone is trying to hold or buy the entire bitcoin around the world too, its impossible.

yeaaa it is impossible, but at least someone or some group can have bitcoin the most .
currently the bitcoin supply available around 16 million and worth to 14.396.939.566 USD , someone can afford to acquire bitcoin with that much money?
i guess yeaa someone can do it (if it was stored in one basket) , but the reality it is not.

ReLieD

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That is kinda impossible. Even Bill Gates will find it difficult to buy soo many bitcoins.
Practically , talking or discussing about this topic is a waste of time
and time is money .
So it would request all of you to act like grown ups and concentrate on something important
rather than wasting your time in such unrealistic things.
Thankyou

n0ne

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That's truly impossible. Is it possible to get hold of entire fiat into the hands of a single hand or a group of community. Same is with bitcoin, though it has got the calculated number of bitcoin to be generated within a targeted year. If someone is trying to hold or buy the entire bitcoin around the world too, its impossible.

Amph

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for someone to have all the bitcoin he need first to buy all the bitcoin, this mean that he will increase the value to unbelievable level and make bitcoin a strong currency

not so different than the standard slwly adoption that will do the same

Quote from: dfox101 on January 20, 2017, 12:28:07 AM

lol, if someone or some group has all the bitcoin, then bitcoin is dead. It's no different than someone create a new coin and hold all the coins minted. Without people's usage, the coin is worthless.

itr's partial true if he will never spend anything even among his friend, because miners need fee when the block will be depleted

but as long as he still move his coin to other address he is paying the miners and thus bitcoin can not die

ralle14

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

No. you simply can't because there's tons of miners competing to mine every block.
The user can do whatever he wants to his coins.
The guy with all the bitcoins can't exchange it because bitcoin won't be widely known at that point so it has no value. It will take a lot of time before it can gain some value.

Kevin77

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

All 21 M bitcoins are not into existence yet, so "that guy" needs to wait another 100 years to get all bitcoins mined out. Still, 10% to 20% of bitcoins were permanently lost due to various reasons hence "all bitcoins" may be possible but certainly not all 21 M bitcoins.

To cease the exchanges we does need to buy all the bitcoins, just buying all offers will be enough but for that you need trillions of dollars as if sellers come to know you are going to buy bitcoins then they will start quoting millions for their bitcoins.

hyudien

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Quote from: Gleb Gamow on January 19, 2017, 10:49:18 PM

Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

Pray tell, exactly how the fuck did you pass muster so to participate in a sig campaign? Inquiring minds wanna know.

To be fair, here's my question(s):

Anyone like sperm because sperm offer population growth, and some excellence rather than use self-procreation. In my mind i have many question about it.

Is there some one can get all the sperm for him- or herself?
If impossible, are that guy or gal can control it?
Is any sperm exchange will not working until that guy or gal sell some their sperm?

And don't even get me started on controlling the world's corn supply where some advocate, "Nothing goes in where corn comes out!"

Do you have any problem with me? I don't ask a question just for you, you know in this world nothing something impossible. A long time ago some one have a dream to fly but other people curse him a crazy man but, as you know we can fly now. So, what the hell are you said never change anything Tongue

Gleb Gamow

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Quote from: dfox101 on January 20, 2017, 12:28:07 AM

lol, if someone or some group has all the bitcoin, then bitcoin is dead. It's no different than someone create a new coin and hold all the coins minted. Without people's usage, the coin is worthless.

Quote from: dfox101 on October 25, 2013, 01:28:44 PM

What I found in this forum is that long paragraphs are usually junks. This is because the people who wrote it:
- don't know how to make their points, or they simply have no points to make
- use long paragraph to confuse people
- use long paragraph to make them looks like they have a lot of arguments
- they have nothing else to do in life
- they are eager to promote/defend their shit coins or to bash good ones.

So I learned to read the long paragraphs in the opposite way:
- if it promote/defend a coin, that coin = shit coin.
- if it bashes a coin, that coin = a great one.

Just to share my experiences Grin

Quote from: tippytoes on January 20, 2017, 12:18:11 AM

Quote from: Gleb Gamow on January 19, 2017, 10:49:18 PM

Pray tell, exactly how the fuck did you pass muster so to participate in a sig campaign? Inquiring minds wanna know.

To be fair, here's my question(s):

Anyone like sperm because sperm offer population growth, and some excellence rather than use self-procreation. In my mind i have many question about it.

Is there some one can get all the sperm for him- or herself?
If impossible, are that guy or gal can control it?
Is any sperm exchange will not working until that guy or gal sell some their sperm?

And don't even get me started on controlling the world's corn supply where some advocate, "Nothing goes in where corn comes out!"

@Gleb Gamow, i like how you articulate your response to these queries of hyudien. Cheesy

at least you still put your effort commenting on this topic though his questions are....b*ld*rd**h...
sometimes reading in the forum adds up spice in your everyday living Grin

Thanks to The Fine Art of Juxtaposing, sometimes I don't have to comment at all.

dfox101

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lol, if someone or some group has all the bitcoin, then bitcoin is dead. It's no different than someone create a new coin and hold all the coins minted. Without people's usage, the coin is worthless.

Zadicar

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

I could say that this is really a dumb question since bitcoin isnt totally been mined and also even satoshi itself cant even accumulate all the supply because it would just worthless if he do that.If you own those all bitcoin then it would be useless and has no value at all.

susila_bai

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First the main point is what ever bitcoins mined till now in that only 70% is in circulation to active users and balance more then 30% is in dead stock in the sense they are in dead wallet which has been thrown by the users who adopted the bitcoin in the starting and seeing the price very cheap they have thrown their wallet and now they are crying. So what ever the balance coin and what you are telling about future coins holded by one person is highly impossible and even if he got it then the price of bitcoins will get down very soon as when no one can get bitcoins then all of then will forget about bitcoins and start to live with their fiat currency.

tippytoes

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Quote from: Gleb Gamow on January 19, 2017, 10:49:18 PM

Pray tell, exactly how the fuck did you pass muster so to participate in a sig campaign? Inquiring minds wanna know.

To be fair, here's my question(s):

Anyone like sperm because sperm offer population growth, and some excellence rather than use self-procreation. In my mind i have many question about it.

Is there some one can get all the sperm for him- or herself?
If impossible, are that guy or gal can control it?
Is any sperm exchange will not working until that guy or gal sell some their sperm?

And don't even get me started on controlling the world's corn supply where some advocate, "Nothing goes in where corn comes out!"

@Gleb Gamow, i like how you articulate your response to these queries of hyudien. Cheesy

at least you still put your effort commenting on this topic though his questions are....b*ld*rd**h...
sometimes reading in the forum adds up spice in your everyday living Grin

electronicash

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its possible but that guy will have $14,326,766,297 in his wallet! that means even satoshi's wallet was compromised. 14Billion USD is no joke, he can actually buy our country and have us all as slaves.

Quote from: Yakamoto on January 20, 2017, 12:08:38 AM

Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

No supply = no demand

No demand = no users

No users = worthless investment.

Having all 21m Bitcoins is one of the absolute worst things that can happen to anyone, because it means they become worthless incredibly quickly and there will be no point for a majority of people to use them.

While short-term benefits are good and it means they'll have high investment value for a short time, it peters off pretty quickly afterwards.

he'd be paying his slaves with btc. that should create back the demand.

avikz

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If someone have all the bitcoin in the world, then bitcoin will be a failed currency. Why people will invest in such a currency which they can't get hold off? So no investment will be flowing to bitcoin and the price will go to the lowest level.

People will only invest in such currencies where they can make profit. So if only one person holds all the bitcoin, then bitcoin and Valorbit will have the same value and no one will want to buy.

Yakamoto

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

No supply = no demand

No demand = no users

No users = worthless investment.

Having all 21m Bitcoins is one of the absolute worst things that can happen to anyone, because it means they become worthless incredibly quickly and there will be no point for a majority of people to use them.

While short-term benefits are good and it means they'll have high investment value for a short time, it peters off pretty quickly afterwards.

jeraldskie11

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

Is there some one can get 21 million of bitcoin for himself?
If impossible, are that guy can control it?
Is any exchange will not working until that guy sell some his bitcoin?

It is possible to get a 21 bitcoin if that had a big business for bitcoin he will make it. We don't know if that guy can can control it because bitcoin has a limit and the limit 21 million of bitcoins.
Imagine that the guy has 21 millions of bitcoin surely the exchange will not working cause he had it all.

piloder

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Quote from: hyudien on January 19, 2017, 09:08:44 PM

Is there some one can get 21 million of bitcoin for himself?

Anyone can buy 21 million of bitcoin or total bitcoin than can exist if he can afford to buy them paying whatever price other want to sell at. But he have to wait till all bitcoin get mined first because there is only 16 million bitcoin out there and many of bitcoin have been burned so the exact total number of bitcoin is not 21 million.

eXpl0sive

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waiting to explode

Theoretically it is possible.

But if all Bitcoins is own by one single person, the value will be close to nothing and rest of the world will simply switch to another widely distributed currency. ( Litecoins, anyone? Cheesy

)

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