What happens to BTC if just a few whales will buy all left supply?

imstillthebest

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Quote from: Teresa_FX1 on October 28, 2020, 05:14:55 AM

There is 18.5 million BTC in circulation right now, more than 1 million BTC is lost or in dormant addresses.

and then ? what about the rest left supply of btc , how much is left to them ? but i did a calculation according to the data that you supplied . 18.5 million btc + 1 million btc is equals to 19.5 milion btc are now out so that means there are 1.5 million unmined btc left ? wew that was small , i didnt see that coming . i thought there still huge btc supply left .

Quote

. What happens if just a few whales will buy and control them all?

few whales only ? why panic but if you say what if all whales buy the rest of the supply , thats more scary . we can experience a huge dip or pump that we never seen before

Ucy

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If much of the supply is concentrated in few hands, held especially by those that are connected or those that can be controlled/influence centrally to possibly maniplute the currency price, then you can't trust the price to be fair and to be influence only by real demand and supply.
One of the best solutions to this is to get majority of users fully control their coins, ensure that network currency isn't concentrated in few hands that can't be checked/balances by the network, and you could have internal mechanism controlled by Network members to regulate the supply to prevent external/internal manipulations by such whales or exchanges

cheezcarls

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Quote from: Teresa_FX1 on October 28, 2020, 05:14:55 AM

There is 18.5 million BTC in circulation right now, more than 1 million BTC is lost or in dormant addresses, the biggest crypto funds and exchanges keep buying it. What happens if just a few whales will buy and control them all?

Halving happens every 4 years, and the last BTC to be mined will be around 2140. There’s no way these whales could buy the remaining BTCs without getting all of them mined, as what I have understood about your post (correct me if I’m wrong later). Even if these remaining BTCs are existing in circulation, I honestly think that the whales can’t afford buying them all. Ain’t happening.

jamesde

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From a practical standpoint, this situations is impossible.

There are so many individuals who will hold onto their bitcoin for dear life that there is virtually zero chance that all bitcoin existence will ever be owned by any party. In order for such an event to occur, it would literally take a hack of epic proportions or a critical design flaw in the blockchain technology which powers bitcoin.

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Quote from: Teresa_FX1 on October 28, 2020, 05:14:55 AM

There is 18.5 million BTC in circulation right now, more than 1 million BTC is lost or in dormant addresses, the biggest crypto funds and exchanges keep buying it. What happens if just a few whales will buy and control them all?

And do you really believe that someone would buy all bitcoins? I think you may have heard this word: "HODL", these guys who do "HODL" are not going to sell their bitcoin so early especially when they expect to see 1 BTC = $500,000 on that day that they see 1 BTC = $500,000 became billionaires and this dream that seems like a joke Is a very important dream for these guys from "HODL". And if you see my explanation you can see that in this cryptocurrency market it is not possible for whales to buy all coins

romero121

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If few Whales in the market accumulate the leftover of the entire circulation surely the demand for bitcoin will decrease. As bitcoin is open sourced, anything accumulated for a long term will affect the demand and make people look for other alternatives available in the market. Such a situation won't prevail making entire circulation into the hands of few whales.

The market reacts to some extent. In each and everything common man's contribution makes a big change. Same is with bitcoin, maybe there arises unaffordability for common man but people will tend to invest based on one's ability.

Teresa_FX1

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by "whale" I mean real big money. For example big international invest funds like Vanguard or Pimco with trillions AUM. Theoretically they can easily buy the whole crypto-market with just tiny $250 billion

Quote from: BrewMaster on October 28, 2020, 01:38:37 PM

this topic is a very good example of how sometime the definition of "whale" is so ridiculous, as if a "whale" comes from another universe and has unlimited mony. it is more like a "boogeyman" rather than a "whale".

Teresa_FX1

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Agree, there is a very limited supply of BTC on exchanges, more holders and miners

Quote from: rdbase on October 28, 2020, 12:26:00 PM

Quote from: pixie85 on October 28, 2020, 12:22:08 PM

OP that's not possible. You don't understand how the free market works.

If even 16 million is really in circulation and accessible how much of it do you think is on exchanges? I'm sure it's less than half of it? Then how much is in open orders available to be bought? Half of that? So only 3-4 million BTC can be bought if you had enough money.

Even if you had unlimited money and wanted to pay 50 thousand USD for a coin right here right now you'd maybe be able to buy a few million coins.

I see what you are saying. Because those who are whales trying to buy up all the bitcoin so to monopolize it won't own all of it since there are those who mine it and if those whales are trying to make it more scarce, then they will be paying that $50k per coin then those who are mining the last few will just hold on it to. Wink

DarkDays

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Quote from: Lucius on October 28, 2020, 06:14:53 AM

Quote from: Teresa_FX1 on October 28, 2020, 05:14:55 AM

~snip~

Still, Bitcoin is on the open market, and we can't stop anyone from investing their money, but we can definitely prevent them from buying most of the coins if we invest also and hold for long term.

There is some truth in there with which I agree.
BTC is open to everybody, if whales were to buy in large amounts of BTC first they'd be losing on their investment as there might be other alternatives to spending large amounts of money, second if their actions were synchronised could be leading a market crush and nobody wants that.
Third, it would deflate the value of BTC in the long run and that's no attraction to any investor.

So in theory, it would lead to highly artificial bubble pumps and dumps, diminishing the true value and purpose of BTC but in practice if some whales wanted to do just that they probably could have the means for that but again it wouldn't be worth it.

BrewMaster

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this topic is a very good example of how sometime the definition of "whale" is so ridiculous, as if a "whale" comes from another universe and has unlimited mony. it is more like a "boogeyman" rather than a "whale".

hulla

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If few whales buy the remain Bitcoin to be mine then the decentralization of Bitcoin has no value but I believe every crypto enthusiast fully understands that they need to keep more BTC than spending it which is the reason why most crypto investors used Bitcoin as an asset than a currency.

scolary23

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Quote from: Teresa_FX1 on October 28, 2020, 05:14:55 AM

There is 18.5 million BTC in circulation right now, more than 1 million BTC is lost or in dormant addresses, the biggest crypto funds and exchanges keep buying it. What happens if just a few whales will buy and control them all?

Let's imagine. If bitcoin were materialized in the form of a monetary unit minted and made of gold, on the territory of the ancient country of the Incas, then collecting and completely buying up all the coins would make sense for a philatelist. The reality is different for bitcoin, just like for a whale. Bitcoin is a digital asset that is more beneficial for the whale as a source of enrichment and replenishment of the bank account (s) in Switzerland. There is a means to make a profit on an ongoing basis, then it doesn't make sense for whales to completely buy a cue ball at all.

pixie85

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Quote from: rdbase on October 28, 2020, 12:26:00 PM

Quote from: pixie85 on October 28, 2020, 12:22:08 PM

OP that's not possible. You don't understand how the free market works.

If even 16 million is really in circulation and accessible how much of it do you think is on exchanges? I'm sure it's less than half of it? Then how much is in open orders available to be bought? Half of that? So only 3-4 million BTC can be bought if you had enough money.

Even if you had unlimited money and wanted to pay 50 thousand USD for a coin right here right now you'd maybe be able to buy a few million coins.

I see what you are saying. Because those who are whales trying to buy up all the bitcoin so to monopolize it won't own all of it since there are those who mine it and if those whales are trying to make it more scarce, then they will be paying that $50k per coin then those who are mining the last few will just hold on it to. Wink

Not only the miners but also holders. I don't believe that people who bought coins for a few million USD OTC @ $11000 and are holding it in cold wallets as a hedge would now move it all to binance or something because someone is setting up $50 thousand buy orders. I'd feel like it's a scam or the exchange was hacked.

Even if the orders would remain people would get smart and send some money to that exchange but setting higher and higher sell orders to test out how desperate these people are.

So if I had 10 BTC to sell I'd put up 1 for 60, 1 70 and so on. Soon they'd be paying hundreds of thousands of dollars for each coin or not buying at all.

rdbase

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Quote from: pixie85 on October 28, 2020, 12:22:08 PM

OP that's not possible. You don't understand how the free market works.

If even 16 million is really in circulation and accessible how much of it do you think is on exchanges? I'm sure it's less than half of it? Then how much is in open orders available to be bought? Half of that? So only 3-4 million BTC can be bought if you had enough money.

Even if you had unlimited money and wanted to pay 50 thousand USD for a coin right here right now you'd maybe be able to buy a few million coins.

I see what you are saying. Because those who are whales trying to buy up all the bitcoin so to monopolize it won't own all of it since there are those who mine it and if those whales are trying to make it more scarce, then they will be paying that $50k per coin then those who are mining the last few will just hold on it to. Wink

pixie85

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OP that's not possible. You don't understand how the free market works.

If even 16 million is really in circulation and accessible how much of it do you think is on exchanges? I'm sure it's less than half of it? Then how much is in open orders available to be bought? Half of that? So only 3-4 million BTC can be bought if you had enough money.

Even if you had unlimited money and wanted to pay 50 thousand USD for a coin right here right now you'd maybe be able to buy a few million coins.

Axelseseclevz

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Quote from: Teresa_FX1 on October 28, 2020, 05:14:55 AM

There is 18.5 million BTC in circulation right now, more than 1 million BTC is lost or in dormant addresses, the biggest crypto funds and exchanges keep buying it. What happens if just a few whales will buy and control them all?

Are you sure that all will sell to them? Always remember the number of bitcoins from smallest Satoshi was scattered to different people. I think it's difficult for the whales to buy all the remaining supply because they are not just the only people in crypto investing in bitcoin and also they need a huge amount of money to do this.

bitbunnny

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This is a very hypothetical question and something that will not happen in reality. Only coins that are available in the market for selling could be bought, so it's not possible that someone buys complete Bitcoin supply. And whales don't have supernatural powers.
So, the answer to your question is that nothing is going to happen because such situation is not possible.

Dsdaq

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Firstly it will create scarcity also they can easily manipulate the price as well.

The Cryptovator

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Think simply, basically if whales try to accumulate all BTC it wouldn't possible at all. Because the current circulation supply holding by many people, they should agree to sell if whales want to accumulate all which isn't possible. But if it happens, means there will be less circulation supply. As a result, prices will be higher and higher, then it would be more difficult to accumulate more.

Anyway, it wouldn't happen at all since the price isn't very low.

lifeOK

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Like each market it will have benefit taking dips and whale dumping to scare out weak hands, but I doubt BTC will ever have serious dips below. What does whales plays out there's a purpose for it, everything is working out like as cycle. If you have strong holding then nothing to be worried. Be calm and let's them play their game.

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