21 million coins will cost trillions. No ones has trillions.
absolutelyno turnaround in the world bitcoin
Topic: What if someone wants to buy out Bitcoin - page 3. (Read 4208 times)
no turnaround in the world bitcoin
I have spoken to a lot of people who had sold the majority of their holdings at various price points that were well under even $250. I think that anyone that was paying attention would have sold their coins well before BTC was trading at $100 as they had these coins that were were virtually nothing and all of a sudden became worth a lot
No one in their wildest dream can predict bitcoin to go up more than 1000 folds in 3-4 years. The early holders who sold at $100 already do very well and not have to constantly worry about volatility and crashes.
I have spoken to a lot of people who had sold the majority of their holdings at various price points that were well under even $250. I think that anyone that was paying attention would have sold their coins well before BTC was trading at $100 as they had these coins that were were virtually nothing and all of a sudden became worth a lot
No one in their wildest dream can predict bitcoin to go up more than 1000 folds in 3-4 years. The early holders who sold at $100 already do very well and not have to constantly worry about volatility and crashes.
Some people will not sell the coins even if they were 100K USD presently. Whoever wanted to buy all the coins would have to have government sized wallet 
This is not true. The higher the price of bitcoin, the more likely people will be to sell their coins. The OP has a few issues with the sceanario. The miners will continue to mine new coins via block subsidies, this will make it impossible to have all of the bitcoin for several hundred years. Another issue is that once someone acquires the majority of bitcon the value of bitcoin would drop dramatically. Bitcon derrives it value from the fact that people will/do use it as a payment method/currency.
This is very true. That's why a lot of people held off selling at $1200. That's why they held off selling at $265. That's why they held off selling at $33. If you see the price rise dramatically in a short period of time some people will always try to hold out.
This is why you see run down buildings and lots in the middle of a modernized city - the land owner is holding out (usually for more financial gain).
While only the richest multi-billionaires could afford to buy a majority of the BTC out there, there are lots of hedge funds that have billions to invest. But as many have said, buying all available BTC would make it useless. Of course, that might be a sneaky way to try to destroy it.
Some people will not sell the coins even if they were 100K USD presently. Whoever wanted to buy all the coins would have to have government sized wallet
This is not true. The higher the price of bitcoin, the more likely people will be to sell their coins. The OP has a few issues with the sceanario. The miners will continue to mine new coins via block subsidies, this will make it impossible to have all of the bitcoin for several hundred years. Another issue is that once someone acquires the majority of bitcon the value of bitcoin would drop dramatically. Bitcon derrives it value from the fact that people will/do use it as a payment method/currency.
This is very true. That's why a lot of people held off selling at $1200. That's why they held off selling at $265. That's why they held off selling at $33. If you see the price rise dramatically in a short period of time some people will always try to hold out.
This is why you see run down buildings and lots in the middle of a modernized city - the land owner is holding out (usually for more financial gain).
if it ever gets slightly close to happen, people will just move to another coin and let the buyer with a big stash of coins with no value.
Biggest financial self-headshot ever
Biggest financial self-headshot ever
Some people will not sell the coins even if they were 100K USD presently. Whoever wanted to buy all the coins would have to have government sized wallet
This is not true. The higher the price of bitcoin, the more likely people will be to sell their coins. The OP has a few issues with the sceanario. The miners will continue to mine new coins via block subsidies, this will make it impossible to have all of the bitcoin for several hundred years. Another issue is that once someone acquires the majority of bitcon the value of bitcoin would drop dramatically. Bitcon derrives it value from the fact that people will/do use it as a payment method/currency.
Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.
A rare sighting of the mythical triple negative in the wild.
I really want to read what you're writing, but come on man.
Yes take a photo before he disappears
Has no-one said that all 21 million coins haven't been minted?*
What the OP described is called "cornering the market". When someone tries to buy all the world's supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It's great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices. As the price keeps going up and up, some people keep holding out for yet higher prices and refuse to sell.
The Hunt brothers famously bankrupted themselves trying to corner the silver market in 1979:
"Brothers Nelson Bunker Hunt and Herbert Hunt attempted to corner the world silver markets in the late 1970s and early 1980s, at one stage holding the rights to more than half of the world's deliverable silver.[1] During Hunt's accumulation of the precious metal silver prices rose from $11 an ounce in September 1979 to nearly $50 an ounce in January 1980.[2] Silver prices ultimately collapsed to below $11 an ounce two months later,[2] much of the fall on a single day now known as Silver Thursday, due to changes made to exchange rules regarding the purchase of commodities on margin.[3]"
http://en.wikipedia.org/wiki/Cornering_the_market
The Hunt brothers famously bankrupted themselves trying to corner the silver market in 1979:
"Brothers Nelson Bunker Hunt and Herbert Hunt attempted to corner the world silver markets in the late 1970s and early 1980s, at one stage holding the rights to more than half of the world's deliverable silver.[1] During Hunt's accumulation of the precious metal silver prices rose from $11 an ounce in September 1979 to nearly $50 an ounce in January 1980.[2] Silver prices ultimately collapsed to below $11 an ounce two months later,[2] much of the fall on a single day now known as Silver Thursday, due to changes made to exchange rules regarding the purchase of commodities on margin.[3]"
http://en.wikipedia.org/wiki/Cornering_the_market
What if someone buys out all the food you own? And every time you try to buy new food they buy that from you too? Then you'll surely starve to death.
#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.
mathemagically sound reasoning prevails
You are being sarcastic, of course. $1000 times 21 million is $21 billion, not $21 trillion.
As for #1, it is not impossible to buy the 8 million unreleased bitcoins. Instead of buying them directly for perhaps $8 billion, a person could buy $8 billion worth of mining equipment and mine the rest. At current prices, that amount of money will get them 6.4 billion GH/s and 99.8% of the hashing power.
Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.
A rare sighting of the mythical triple negative in the wild.
I really want to read what you're writing, but come on man.
Yes take a photo before he disappears
Unlikely to happen as people with this kind of wealthy know monopoly will kill the value.
#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.
mathemagically sound reasoning prevails
Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.
Ok so #1; We're closing in on 13 million coins. Barley half. Impossible to buy out Bitcoin fully.
#2; The current market cap is 7 billion dollars. So it's going to be hard for most people to buy out BTC via buying all of them.
#3; If someone bought all 21 million, they would lose 99% of their money, and the community would proceed to buy up other alts such as LTC, or DRK.
#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.
However, I have a hard time believing everyone would sell their BTC to a single person or small group of people. Most people would hold unless it was a REALLY good offer.
That's why BTC hasn't been bought out yet by bankers or so, they know if they try a stunt like that, they'll get shot down because of the simpleness of creating alt coins. If they buy up BTC, there's LTC, DRK, DOGE, NXT, NMC, PPC, I can go on and on...
Ok so #1; We're closing in on 13 million coins. Barley half. Impossible to buy out Bitcoin fully.
#2; The current market cap is 7 billion dollars. So it's going to be hard for most people to buy out BTC via buying all of them.
#3; If someone bought all 21 million, they would lose 99% of their money, and the community would proceed to buy up other alts such as LTC, or DRK.
#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.
However, I have a hard time believing everyone would sell their BTC to a single person or small group of people. Most people would hold unless it was a REALLY good offer.
That's why BTC hasn't been bought out yet by bankers or so, they know if they try a stunt like that, they'll get shot down because of the simpleness of creating alt coins. If they buy up BTC, there's LTC, DRK, DOGE, NXT, NMC, PPC, I can go on and on...
Yes, if someone buys all the bitcoins its like hes paradoxically taking away the value of bitcoin itself, because for a currency to have value it must be distributed along many people.
Anyway with bitcoin its more difficult because of the several decimals but its the main idea.
Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.
A rare sighting of the mythical triple negative in the wild.
I really want to read what you're writing, but come on man.
Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.
Ok so #1; We're closing in on 13 million coins. Barley half. Impossible to buy out Bitcoin fully.
#2; The current market cap is 7 billion dollars. So it's going to be hard for most people to buy out BTC via buying all of them.
#3; If someone bought all 21 million, they would lose 99% of their money, and the community would proceed to buy up other alts such as LTC, or DRK.
#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.
However, I have a hard time believing everyone would sell their BTC to a single person or small group of people. Most people would hold unless it was a REALLY good offer.
That's why BTC hasn't been bought out yet by bankers or so, they know if they try a stunt like that, they'll get shot down because of the simpleness of creating alt coins. If they buy up BTC, there's LTC, DRK, DOGE, NXT, NMC, PPC, I can go on and on...
Ok so #1; We're closing in on 13 million coins. Barley half. Impossible to buy out Bitcoin fully.
#2; The current market cap is 7 billion dollars. So it's going to be hard for most people to buy out BTC via buying all of them.
#3; If someone bought all 21 million, they would lose 99% of their money, and the community would proceed to buy up other alts such as LTC, or DRK.
#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.
However, I have a hard time believing everyone would sell their BTC to a single person or small group of people. Most people would hold unless it was a REALLY good offer.
That's why BTC hasn't been bought out yet by bankers or so, they know if they try a stunt like that, they'll get shot down because of the simpleness of creating alt coins. If they buy up BTC, there's LTC, DRK, DOGE, NXT, NMC, PPC, I can go on and on...
I know for a fact, no matter how high the exchange rate goes I will always keep some. There isn't any point whatsoever in selling all.
Even if your goal is to get loads of fiat, there just comes a point when you have so much that it becomes pointless to even bother selling any more.
Say you start with 10BTC, Every time the price doubles you sell 10% of your BTC stash.
BTC Stash Price BTC Sold $ stash
10.000000 $1000.00 1.000000 $1000.00
9.000000 $2000.00 0.900000 $2800.00
8.100000 $4000.00 0.810000 $6040.00
7.290000 $8000.00 0.729000 $11872.00
6.561000 $16000.00 0.656100 $22369.60
5.904900 $32000.00 0.590490 $41265.28
5.314410 $64000.00 0.531441 $75277.50
4.782969 $128000.00 0.478297 $136499.51
4.304672 $256000.00 0.430467 $246699.11
3.874205 $512000.00 0.387420 $445058.40
3.486784 $1024000.00 0.348678 $802105.13
3.138106 $2048000.00 0.313811 $1444789.23
2.824295 $4096000.00 0.282430 $2601620.61
2.541866 $8192000.00 0.254187 $4683917.09
2.287679 $16384000.00 0.228768 $8432050.77
2.058911 $32768000.00 0.205891 $15178691.39
1.853020 $65536000.00 0.185302 $27322644.50
1.667718 $131072000.00 0.166772 $49181760.09
I'm not saying BTC will be worth over $100m a coin, I'm saying if someone tries to buy it all, then it pushes up the price. Any sane person when seeing the price rise so far should take profits. Sure you could cash totally at any time, but why would you? at $1m a coin you already have $800k in the bank. You can cash out the rest to get $3m to $4m but going from $800k to $4m is hardly life changing, and in doing so you expose yourself to the risk of being totally short BTC. Instead wait for a few more doubles, you got your 4m in the bank and you still have $10-$20m in BTC. All of these figures are total pie in the sky, but that is what a market buyout would be facing. Pie.
I can't be the only one that thinks like this, ergo, nobody can corner the market because they will run out of money, because the asking price will go too high. Greed makes you sell, but fear (of missing out) is stronger and will make you hold something.
Even if your goal is to get loads of fiat, there just comes a point when you have so much that it becomes pointless to even bother selling any more.
Say you start with 10BTC, Every time the price doubles you sell 10% of your BTC stash.
BTC Stash Price BTC Sold $ stash
10.000000 $1000.00 1.000000 $1000.00
9.000000 $2000.00 0.900000 $2800.00
8.100000 $4000.00 0.810000 $6040.00
7.290000 $8000.00 0.729000 $11872.00
6.561000 $16000.00 0.656100 $22369.60
5.904900 $32000.00 0.590490 $41265.28
5.314410 $64000.00 0.531441 $75277.50
4.782969 $128000.00 0.478297 $136499.51
4.304672 $256000.00 0.430467 $246699.11
3.874205 $512000.00 0.387420 $445058.40
3.486784 $1024000.00 0.348678 $802105.13
3.138106 $2048000.00 0.313811 $1444789.23
2.824295 $4096000.00 0.282430 $2601620.61
2.541866 $8192000.00 0.254187 $4683917.09
2.287679 $16384000.00 0.228768 $8432050.77
2.058911 $32768000.00 0.205891 $15178691.39
1.853020 $65536000.00 0.185302 $27322644.50
1.667718 $131072000.00 0.166772 $49181760.09
I'm not saying BTC will be worth over $100m a coin, I'm saying if someone tries to buy it all, then it pushes up the price. Any sane person when seeing the price rise so far should take profits. Sure you could cash totally at any time, but why would you? at $1m a coin you already have $800k in the bank. You can cash out the rest to get $3m to $4m but going from $800k to $4m is hardly life changing, and in doing so you expose yourself to the risk of being totally short BTC. Instead wait for a few more doubles, you got your 4m in the bank and you still have $10-$20m in BTC. All of these figures are total pie in the sky, but that is what a market buyout would be facing. Pie.
I can't be the only one that thinks like this, ergo, nobody can corner the market because they will run out of money, because the asking price will go too high. Greed makes you sell, but fear (of missing out) is stronger and will make you hold something.
Like acquire all 21 million coins. Then what? 
If somebody bought all the bitcoins, then Bitcoin would become useless and the value of those 21 million bitcoins would be 0.
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