Topic: What if someone bought up all the existing bitcoins? - page 13. (Read 31272 times)
I do not imagine how you can buy all the existing bitcoins. Many are already owned by investors. Yes, and it will cost a lot of money. Hardly anyone will be able to afford it.
It is not possible to buy it because the price left is still much and each of it must be used for several reasons. Permit to say that bitcoin is not under and cannot be under rulership of anybody. Its usage and acceptablity is one of the reasons why someone will think of buying all the unmined coins.
I don't think that's possible. This is insanely expensive, and it is unlikely that anyone will invest such crazy amounts in unstable bitcoin.
It would be self defeating because the coin will have no value. If no-one else has it then it can't be used for anything. Even satoshi didn't claim everything as he knew it would make the project fail
One who would buy that will have no profits because if there are no btc left then how could the market price fluctuate and how could they profit?
Then there will be no supply and unless that person starts using the coins and people can actually make use of it then the coins will have no value and the person will just have a bunch of worthless coins.
No supply will make this market become crazy for sure because people will be thristy for Bitcoin and they could do such bad things to earn Bitcoins or make profits from it. That will be a mess.
Then there will be no supply and unless that person starts using the coins and people can actually make use of it then the coins will have no value and the person will just have a bunch of worthless coins.
This kind of thing you said is impossible. Theoretically, if you want to buy all the bitcoins that require huge amounts of money, I think nobody can do this.
As with any other currency, using bitcoins you can make various transactions - pay, transfer, exchange. For operations with bitcoins, it is enough to register a purse and buy a bitcoin
Woooooww OP is now legendary, and to think he was a newbie at posting waynack 2012.
Anyway, I think it is very impossible to buy all bitcoins. One is tje available resources of a single person, two how would he convince all to sell it to them(?), and three it is impractical and would result to extremely low community support-thus, killing your own investment in the process.
So there, I believe if it would happen, and am not saying that it will, would result to you forfeiting the worth of your own thing.
Anyway, I think it is very impossible to buy all bitcoins. One is tje available resources of a single person, two how would he convince all to sell it to them(?), and three it is impractical and would result to extremely low community support-thus, killing your own investment in the process.
So there, I believe if it would happen, and am not saying that it will, would result to you forfeiting the worth of your own thing.
Bitcoin is the first crypto currency in the world. This is the first digital currency of a new generation, which is created not by governments and banks, but on the Internet.
The number of blocks sets the block value in BTC through the amount of money in circulation. The block cost is 50 BTC for each of the first 210,000 blocks, 25 BTC for the next 210,000 blocks, then 12.5 BTC, 6.25 BTC and so on.
I hope that this won't happen. If it does happen, it will be one person vs the rest of the world. How will he be able to buy a coin if someone was holding it? I think there will be holders who will notice the price exchange and most like their initial reaction was to hold it. I don't know if a person is allowed to buy bitcoin. I was thinking "What will he do with all the btc, and if he is that rich, why even do that?". Maybe rich people are greedy and unable to be happy with life.
In order for people to sell their btc is because it becomes unsaleable or falls so much in value. Than this investor could easily purchase all the btc`s in market but even if he does it, if people don`t show interest in btc the demand would be very low by leaving this man with a lot of btc but no volume.
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
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
Wow, you posted this question in 2012 and you are now a Legendary member. I said this because it's curious to me that i am in the situation you were back then right now, trying to see how to earn Bitcoins.
I personally think that Bitcoin prize would rise exponentially and if someone manage to do something close to that they would do like the people in the diamond industry do all the time. Create a non-existent lack of offer.
Despite the fact that it is old thread, I was looking for something similar or was going to create one myself. But now I'll post my opinion here: I think that won't happen and there are some reasons: 1. Some bitcoins are lost and are loosing (because of someone's bad memory). 2. There are some types of people here who only hold and don't sell bitcoin, they don't look it like money and I know similar persons. 3. When exchanger or someone sees that one man buys all bitcoins, this exchanger will unbelievable grow price and it will be difficult and possibly impossible to buy all of them.
Very ineteresnaya topic for reflection. Especially considering that out of 21 million possible, only 12 million were mined, and this is for 8 years of existence of bitcoin. So buying all existing bitcoins will not happen soon, as with each new buyer its price grows, and buy more of its number is more difficult and more difficult due to the price increase.
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
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
In general, this is one of the main problems)
But I heard about the project, which will allow to change bitcoin to national currencies and at the same time to "destroy" coins. Perhaps this will solve the problem. But I can not find a link to the project. When I find it, I'll throw it off.
Its not possible to buy all the existing bitcoins,because as you start buying it its amount incrases exponentially,im not talking about 2-3 btcoins,im talking about buying in bulk.
you cant even imagine what would be the price of the last bitcoin,it would be upto the seller as he can ask any unimaginable amount for it.
you cant even imagine what would be the price of the last bitcoin,it would be upto the seller as he can ask any unimaginable amount for it.
I think that this is simply impossible, even if 100 years pass. People will periodically sell bitcoins anyway because they will need money to buy something or they may lose them in the trade.
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