Topic: What prevents one large player from buying up most coins? (Read 2348 times)
Lack of liquidity and HODLers.
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
well then he would spend trillions to destroy a currency, which no one would ever do. if you are that rich, you should be smart if to know that spending that much money to take out a currency is useless. How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Well at the rate some of these reserve banks are printing "toilet paper" money, it could just be likely that enough fiat will be available to try things like this. Only problem is, the more they print, the less
it's worth on the open market.
...and yet bitcoin is only worth half as much US toilet paper as it was at its peak. How is this possible? it's worth on the open market.
How are we missing each other on this point? On this date 1 bitcoin is worth $672 US. I hope you not referring to the total dollars in circulation, because that would only make this worst. The amount of
money in circulation has nothing to do with this... well a little bit, because it shows us how worthless is has become. Bitcoin has also been the best performing currency for the last couple of years.. the
rest of them are just losing value all the time.
This is the same with anything valuable: a rich person can buy a lot and raise the price.
this can only happen in altcoins markets because they are pretty small and a "large player" there can mean a very smaller amount of money to change things to your advantage.
but with bitcoin you will need a very large amount of money which then would not exist in one place and even if it is possible then it would be stupid to buy bitcoin with all of it just to control things.
but with bitcoin you will need a very large amount of money which then would not exist in one place and even if it is possible then it would be stupid to buy bitcoin with all of it just to control things.
It wouldn't be "just to control things"; it would be to "not lose control over things".
For the larger players, they want to use bitcoin, not just a tool for speculation. So the transaction confirmation is important to them.
People demanding increasingly high prices once they realize somebody is "buying up most coins"?
You are obviously not an economist, are you?
You are obviously not an economist, are you?
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
First there are limited money transfers. Without notice 15Keuro limit. So this would slowdown the process you are talking about, significantly.
Second, exchanger would probably suspend huge account, under suspicion, big movement, big risk of fraud or account takeover etc.
Don't think it's going to happen though.
If that really happen, bitcoiner, trader and bitcoin investor would be very happy.
But, i'm sure bitcoin price will be unstable because some people will dump massive amount of bitcoin while the other got hyped and buy bitcoin.
That's a way to increase bitcoin price without mass adoption.
this can only happen in altcoins markets because they are pretty small and a "large player" there can mean a very smaller amount of money to change things to your advantage.
but with bitcoin you will need a very large amount of money which then would not exist in one place and even if it is possible then it would be stupid to buy bitcoin with all of it just to control things.
Pretty sure this is exactly what is happening...
What makes you believe that?
the tinfoil hat that he is wearing told him so
but with bitcoin you will need a very large amount of money which then would not exist in one place and even if it is possible then it would be stupid to buy bitcoin with all of it just to control things.
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Pretty sure this is exactly what is happening...
What makes you believe that?
the tinfoil hat that he is wearing told him so
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Pretty sure this is exactly what is happening...
What makes you believe that?
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment.How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
maybe whales who already have money are afraid that bitcoin price will be dumped in the future so they better not hold their coins in order not to lose money from the price dumps
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment.How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Pretty sure this is exactly what is happening...
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment.How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment. How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Seems a stupid scenario, how realistic is it to discuss 'one large player buying up most coins'. It'd have to be a sovereign wealth Sheikh or something to afford that.
Seems dumb to even think of it as a possibility, will never happen.
Seems dumb to even think of it as a possibility, will never happen.
You'd have to have the surname Rothschild.
Pretty sure the exact scenario described by the Op has happened, drove BTC all the way to the $780 top, then dumped big time to $555.
But then didn't buy up again. After enough such cycles, he would've left the price skyrocketed and liquidity low after panic sells.
The point would obviously not be to profit numerically, but rather systemically, i.e. to destroy what is perceived as the largest threat.
Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
First there are limited money transfers. Without notice 15Keuro limit. So this would slowdown the process you are talking about, significantly.
Second, exchanger would probably suspend huge account, under suspicion, big movement, big risk of fraud or account takeover etc.
Don't think it's going to happen though.
legendary
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I ask that every day nobody responds to https://bitcointalksearch.org/topic/still-looking-for-a-billionaire-or-trillionaire-1354558
you can't expect anyone to take your offer for reasons that should be obvious so I assume its a joke.
I ask that every day nobody responds to https://bitcointalksearch.org/topic/still-looking-for-a-billionaire-or-trillionaire-1354558
Manipulation happens all the time in investing. But in this case the investor would be cutting his own throat.
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