What if someone bought up all the existing bitcoins? - page 11.

rickyNmorty

member

Activity: 451

Merit: 15

Investor

Quote from: Portnoy on March 27, 2012, 12:25:44 PM

Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.

Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?

I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.

Please help me understand and ease my mind in regard to this issue.

Thank you

The value will pretty much momentarily increase at extreme heights becauae if the sudden surge if inciming money in the system. And then after this bitcoin's value will most possibly bounce back to a muh more stabler yet equivalent value
Bitcoin's fate afterwards lies in the question will bitcoin be circulated among users across the globe? If yes then bitcoin's valye will continue to increase and if it don't, there will ve a huge problem.

RakknRoll

member

Activity: 336

Merit: 10

I never try to think that if will be happen someday that someone bought at all the existing coin but if happens then she or he came from a powerful family and she or he will be the one who own it this business.

mabell943

sr. member

Activity: 590

Merit: 258

If that someone bought up at all the existing coin I can say she or he is belong to the rich family because she or he can spend and afford to buy all that although it is impossible to happen and if she or he buy it then i think she or he now multi billionaire or that word is not enough to describe her or him because she or he try to own this business by buying all existing coins.

ShiroThe5th

member

Activity: 168

Merit: 10

I guess and think it will cant easily buy every existing bitcoin. First is the only people can possibly buy everything is Bill Gates because he is the richest person, but bill gates also cant buy all the existing bitcoin. Simply because bitcoin around the world maybe has a total of trilion dolars. And you must first beat bill gates before you gain that money.

KuyaBreezy

member

Activity: 504

Merit: 10

ONe Social Network.

I don't think if its even possible for someone to buy the whole bitcoin tokens, that person must be rich but if it does happen, the value of the coin will rocket as there will be scarcity n terms of supply, it will almost be impossible to get them as there will only be a sole source of supply who dictates the value of the coin

samvel86

newbie

Activity: 294

Merit: 0

Hello everyone, First of all I want to tell You that I think it's not possible to buy all bitcoins by someone. Because I don't know a person in the world who have so much money. And there is no need to make that step. Lets imagine what will happen, if someone will? What will he or she do with that? And many questions like this that no one can answer.
So I think it can't be in our reality.

atamat

full member

Activity: 207

Merit: 100

Quote from: Portnoy on March 27, 2012, 12:25:44 PM

Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.

Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?

I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.

Please help me understand and ease my mind in regard to this issue.

Thank you

One can buy the entire bitcoin if each and every user sell the bitcoin. In reality it's not at all possible for a single user to have the entire bitcoin. Based on the fact it's not required to think about an user holding the entire existing bitcoin and make it go valueless.

ICODA

copper member

Activity: 133

Merit: 0

Quote from: aljun107 on May 09, 2018, 12:45:38 PM

That thing is really impossible since the amount of bitcoin existing is millions and each of the bitcoin costs about $9000 now so it would require a lot of money just to buy all of it. And what will he do if he bought all of it? I mean holding it for yourself will not really circulate at all so there will be no change in value.

Totally agree with you. If nobody will have it except one person there will be no point to hold it.

aljun107

member

Activity: 63

Merit: 10

That thing is really impossible since the amount of bitcoin existing is millions and each of the bitcoin costs about $9000 now so it would require a lot of money just to buy all of it. And what will he do if he bought all of it? I mean holding it for yourself will not really circulate at all so there will be no change in value.

Gudhal Untu

full member

Activity: 845

Merit: 100

Of course this will make the price skyrocket in a short time, but I'm sure this will just make other people hold so bitcoin value is not controlled, I'm sure that this can happen anytime so we should always hold bitcoin.

12tribes

member

Activity: 378

Merit: 11

That's not possible. What if questions should be realistic and not theoretical. Many blocks remain to be mined and the market is now down. there will be a way to mine some of it and continually find a way to create new assets. that's not gonna happen.

ICODA

copper member

Activity: 133

Merit: 0

What an interesting view))

waqasanwar95

newbie

Activity: 56

Merit: 0

its not possible no one can buy all bitcoins but in case if its done then He is the legend and all bitcoin world will be in his control

BillyTalent

full member

Activity: 294

Merit: 100

Quote from: Portnoy on March 27, 2012, 12:25:44 PM

Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.

Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?

I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.

Please help me understand and ease my mind in regard to this issue.

Thank you

Oooooh, I can hardly wait. Who is he? The price for my bitcoins will be $1 million each. This guy will make me rich. I will pay good money to know who he is.

Lamisa asfiya

member

Activity: 242

Merit: 10

He can not buy all the Bitcoin. If the stroke of its purchase is high and prices are up. Because no one has the capability to buy all the Bitcoin and it does not have the power to collect it from everyone. It will never be possible, because it is a digital currency that is spreading in the world.

WolkGold

newbie

Activity: 139

Merit: 0

Yes, I think nothing is impossible. If a coalition compromises on the mission of bitcoin miners. They will have a tremendous amount of bitcoin. But their purpose will show? buy it all and not trade, it is likely to harm the market and reduce the popularity. I think it will be difficult to do that. or the market will adjust.

Danlopz

newbie

Activity: 70

Merit: 0

Quote from: avoxosuccesful on April 25, 2018, 10:12:52 PM

thinking of buying all the bitcoin?lol as much as that is crazy?i cant say it cannot happen but i dont think bitcoin its on its peak at the moment plus there are still more waiting to be minned and a whole waiting to be added to the market and you still can't predict the price till its added to the market cap.plus many people are still waiting for the market to blow up high so the could sell there's also.and with the number i don't think one prsn cou;d invest in all.but like i said there's nothing impossible

Very miraculous and unlikely, Bitcoin is not a centralized currency. Rely on market demand for virtual currency. If someone is interested in buying any existing Bitcoin and start buying anywhere, the price will go up. Currently there are more than 15 million Bitcoin available. These are not available for sale or even on the market, as they are usually stored for investment purposes and wealth accumulation. Bitcoin is sold in a very small market of total coins.

florinda0602

member

Activity: 350

Merit: 10

Quote from: danilic on April 26, 2018, 03:35:41 AM

This is a purely theoretical situation, which would be never realized in reality. And if large players began to buy bitcoin actively, the price would inevitably increase.

as the price of bitcoins goes up people will be more inclined to use it. People will offer discounts on the items they sell to get the bitcoin in the hope those bitcoins will go up in value and even more.

Maveric99

newbie

Activity: 144

Merit: 0

it's gonna be awesome, I can not wait to see my 1 bitcoin value to $ 1 million. this guy will make me very rich, with the person who buys it all bitcoin will stay alive regardless of what is going on by bitcoin itself.

assyla

full member

Activity: 319

Merit: 100

Quote from: Portnoy on March 27, 2012, 12:25:44 PM

Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.

Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?

I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.

Please help me understand and ease my mind in regard to this issue.

Thank you

I think it is hard to buy all existing bitcoin because as you can see bitcoin is being divided into eight decimal places which some people are having a part of bitcoin and some of them are holding it today so that I think that person will need a lot of money and effort on buying all of the existing bitcoin.

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