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Topic: What to do with whales? (Read 732 times)

hero member
Activity: 2968
Merit: 687
March 17, 2022, 04:47:28 PM
#89
40% of all Bitcoins are owned by just 1000 individuals.

This gives them a disproportionate amount of control over the market as they are able to dump them at anytime.

This is not to mention the high proportion of bitcoins held by miners and exchanges, who may have perverse incentives to ensure that as many people buy up bitcoin as possible and hold it for long enough for the price to rise.

Is there any way to deal with the high degree of centralisation that Bitcoin has?

The advantage of being an early adopter buddy, they are in this position because they believe in the tech and develop a strong will to hold for long term. There is nothing you or anyone can do about it except to accept it. If the demand for btc keeps growing I don't see it as a threat, there will always be buyers ready to pick the btc up, it is only when there is no demand such should be of concern.
Right now with the amount of exposure btc has gained as a result of this war, the awareness has increased so will the demand is increasing, whales are definitely aware of this and understand there are buyers ready to take it from them at any time.
Lets just accept the reality and it is just there are people who couldnt just accept that there would be always those people who are on the top basically just telling about financial capacity which is part of this life cycle

that there would be always someone who is better than you and speaking with market investment.Thing here is that you do know on how to play or ride with the waves on the time these whales make movements.
As for adoption and recognition then this is really something that do progress as day goes by specially on some circumstances which do makes exposure even more.
hero member
Activity: 2744
Merit: 586
Leading Crypto Sports Betting & Casino Platform
February 07, 2022, 01:04:07 PM
#88
we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big
That is right, the only thing that can affect Bitcoin these days is the news. And it has to be a news that would trigger a lot of people to start selling their coin, and not just any type of news. Even the news these days can hardly affect Bitcoin that much. If the Whales are looking for what to manipulate, then it’s likely going to be altcoins where there isn’t much trading volume and the market cap is small.

Those are their main targets, where they can buy up a huge amount of coins in the market knowing very well that the market cap is small, and then they can dump at anytime and it would cause the market to crash. But that is not for Bitcoin, as Bitcoin is now big and has a huge market cap that would be difficult for anyone to manipulate.
hero member
Activity: 2100
Merit: 546
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February 07, 2022, 12:36:32 PM
#87
I think the one thing you have to know is that no matter how much that these whales are owning in their wallets, whenever they decide to drop it, there will always be people ready to buy it immediately. It’s not like they will dump it and no one will buy it, people are always ready for it.

So, whatever impact that they might have in the market, although I know that their impact wouldn’t be much because the market has become huge than it used to be before, but whatever impact they may have wouldn’t be something that would last for long. Maybe they can dump it and the price will go down a little percentage, but within a short time or within a day it would still pick up again. So this is no longer a serious threat in the market.
hero member
Activity: 1876
Merit: 726
February 06, 2022, 06:52:47 PM
#86
If already know that sometimes whale control market, why not just take an advantage by it. I mean if know whale can pump market, so we can follow the stream and maybe joined the market too, or if know whale will dump their coins, we can do short or maybe if hold a coin, just make sure we are ready to hold it longer. We can't control them and i think market still can't be easily predicted too although most of circulation is held by whales.
sr. member
Activity: 333
Merit: 507
February 06, 2022, 05:57:46 PM
#85
If you think there is a good solution to this problem, consider all of the secondary cryptocurrencies that have not solved this problem and make it much worse.  It's not an easy problem to solve, because you are starting with something that has no value but need it to be distributed around the world. There is no fair method to distribute a currency from nil.

Whales do two things:
1) Encourage other whales
2) Discourage other whales

And both are important.
But it is a self regulating problem.
Whales encourage other whales by showing the long term value and potential of bitcoin.
Whales discourage other whales by the concerns in this thread, possibly limiting the broad use of bitcoin.

Bitcoin is the only crypto that has successfully made the initial transition into broader use and distribution, limiting the number of whales that exist. Eventually the value of bitcoin has to be in real world commodities and assets, and if bitcoin remains only in the hands of whales, then it won't make that transition and create its long term success.  Eventually these whales will either consolidate into major institutions (which has mostly happened) or distribute more broadly (which has also happened), both of which are ok for the system.
hero member
Activity: 2814
Merit: 911
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February 06, 2022, 02:35:24 PM
#84
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There is still something to be done when Whales act in the market.  Follow it and don't be swayed by it, as long as the Whales make various patterns to raise and lower the market just to take retail money like us, we just need to be vigilant.  As long as there are still many whales who don't sell all their crypto, it means the market is fine.  And even though the price is bearish, it's just another Whales momentum buying at a discount.
That is a fairly good point, the fair market will be when the coins are distributed fairly and having more whales is a healthy one rather than a problem. I hate having someone having major control in the platform like some of the few institutional investing firm are having a control in the market. and that is the sole reason i am not able to predict how the market will perform this year.
hero member
Activity: 1428
Merit: 574
February 06, 2022, 02:18:50 PM
#83
we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big


Their existence is also good for the crypto market. Better mind your own business rather than be worried about what the whales will do to the market. Because whatever they are planning or doing, you can't do anything about it. What you can do for example as a small holder is take advantage of the market and just go with the flow. With the huge amount of money that they need to spend with, I don't think they can truly manipulate the market. They can make a dent in the market, but that would only be short.

There is still something to be done when Whales act in the market.  Follow it and don't be swayed by it, as long as the Whales make various patterns to raise and lower the market just to take retail money like us, we just need to be vigilant.  As long as there are still many whales who don't sell all their crypto, it means the market is fine.  And even though the price is bearish, it's just another Whales momentum buying at a discount.
full member
Activity: 1848
Merit: 158
February 06, 2022, 02:10:51 PM
#82
we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big


Their existence is also good for the crypto market. Better mind your own business rather than be worried about what the whales will do to the market. Because whatever they are planning or doing, you can't do anything about it. What you can do for example as a small holder is take advantage of the market and just go with the flow. With the huge amount of money that they need to spend with, I don't think they can truly manipulate the market. They can make a dent in the market, but that would only be short.
legendary
Activity: 3262
Merit: 1130
Leading Crypto Sports Betting & Casino Platform
February 06, 2022, 12:12:31 PM
#81
we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big
full member
Activity: 2142
Merit: 183
February 06, 2022, 11:57:18 AM
#80
40% of all Bitcoins are owned by just 1000 individuals.

This gives them a disproportionate amount of control over the market as they are able to dump them at anytime.

This is not to mention the high proportion of bitcoins held by miners and exchanges, who may have perverse incentives to ensure that as many people buy up bitcoin as possible and hold it for long enough for the price to rise.

Is there any way to deal with the high degree of centralisation that Bitcoin has?
I don’t see anything wrong with the existence of whales, that is, that a thousand people own 40 percent of all bitcoins. No matter what we do, the whales have always been, are and will be. Yes, they can influence the crypto market, especially if they agree on coordinated actions. But we can’t do anything, because this is a decentralized market. At the same time, whales are also beneficial to this market. They revive it, periodically causing price surges and falls. Being the custodians of a significant amount of bitcoins, they have no interest in harming them.
sr. member
Activity: 1666
Merit: 268
November 17, 2021, 08:40:34 PM
#79
they are the same as us what we think is profit and profit and profit, only they are more powerful to create market momentum quickly like when they throw it away but we don't need to worry about that, because in truth small holders can also be influential by way of togetherness transaction and hold it

There is nothing to worry about what whales are doing, I agree that whales are the same as us as small investors, the purpose of whales to manipulate
in order to generate profit. The difference is that whales have large capital and are usually more experienced, so whales are smart to take advantage of
any situation to manipulate prices for profit. Therefore, as small investors, we should not be easily influenced and panic if the market suddenly changes.
As long as we hold potential coins, there is no need to worry if the price falls, because usually it will not take long before the price will rise again.
Like the current market conditions where almost all coins have fallen quite drastically, there is a possibility that this manipulation is done by whales
to make many small investors panic and they can buy at low prices. What we need to do now is if we have extra money we can buy more potential coins,
and if we don't have the capital, we need to be patient waiting for the market to recover.
hero member
Activity: 2604
Merit: 816
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November 17, 2021, 07:31:19 PM
#78
1000 individuals is a lot to count, so should we worry, and surely those 1000 individuals are spread all over the world, so maybe the bitcoin balance will be maintained. although sometimes bitcoin drops drastically, but that's very reasonable, considering that bitcoin is now very influential on world issues.
Although 1000 individuals are many, I think we do not have to worry because they can not do many things with bitcoin unless they hold a lot of bitcoin in their wallets and are ready to do something. Bitcoin price is now getting a deep correction and reaching $59k but I believe it is just a matter of time for bitcoin to start another rally and when that time comes, that can surprise us because we never think about that. It is better you ready for anything that can happen Cool

That amount of numbers is enough to move the market if each one of them is holding many coins inside their wallets.

It's hard to detect if they are working behind any market movement. Whales knew how to play and if ever they were doing

artificial scenes, they are also the same investors that will manifest good benefit out from that actions.

You don't need to do anything about those whales, just protect yourself and do your own way of investing around this venue of investment.
But still, the situation is not the same as in previous years which the whales could move the price as they wanted. With many big companies involved in crypto and making investments in bitcoin, they will not easily move the price unless they want to make a panic mass and have a plan to make the price drop. Yes, it is hard to detect how they are working behind the market and we can only guess without knowing the right. Behind that, the whales are still active in taking part in the market because they want to use every moment that happens in the market. We only need to take care of our assets and follow the market moves but we do not have to enter the market if we are not sure and only watch the market moves.
hero member
Activity: 2128
Merit: 520
November 17, 2021, 06:11:01 AM
#77
1000 individuals is a lot to count, so should we worry, and surely those 1000 individuals are spread all over the world, so maybe the bitcoin balance will be maintained. although sometimes bitcoin drops drastically, but that's very reasonable, considering that bitcoin is now very influential on world issues.
Although 1000 individuals are many, I think we do not have to worry because they can not do many things with bitcoin unless they hold a lot of bitcoin in their wallets and are ready to do something. Bitcoin price is now getting a deep correction and reaching $59k but I believe it is just a matter of time for bitcoin to start another rally and when that time comes, that can surprise us because we never think about that. It is better you ready for anything that can happen Cool

That amount of numbers is enough to move the market if each one of them is holding many coins inside their wallets.

It's hard to detect if they are working behind any market movement. Whales knew how to play and if ever they were doing

artificial scenes, they are also the same investors that will manifest good benefit out from that actions.

You don't need to do anything about those whales, just protect yourself and do your own way of investing around this venue of investment.
sr. member
Activity: 1414
Merit: 236
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November 17, 2021, 05:40:47 AM
#76
I guess, we have nothing to do with them because no matter bitcoin they hold cannot cause anything to the market . Many of the whales are there for profit making, that is the reason why they cannot cause bitcoin to dump or to pump. Even though 40% bitcoin is be hold by 1000 individuals, it will hard for them to sell all bitcoin because they will be thinking if the price of bitcoin increase higher than this next week or next month or next year.
Now that the price of bitcoin is decreasing in the market, it is better to hold like the way whales are holding for the price of bitcoin to hit $70 before they can release half of their bitcoin for sale in case the price still increase more in the future.
full member
Activity: 1134
Merit: 167
November 17, 2021, 05:25:41 AM
#75
they are the same as us what we think is profit and profit and profit, only they are more powerful to create market momentum quickly like when they throw it away but we don't need to worry about that, because in truth small holders can also be influential by way of togetherness transaction and hold it
hero member
Activity: 2604
Merit: 816
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November 17, 2021, 05:03:10 AM
#74
1000 individuals is a lot to count, so should we worry, and surely those 1000 individuals are spread all over the world, so maybe the bitcoin balance will be maintained. although sometimes bitcoin drops drastically, but that's very reasonable, considering that bitcoin is now very influential on world issues.
Although 1000 individuals are many, I think we do not have to worry because they can not do many things with bitcoin unless they hold a lot of bitcoin in their wallets and are ready to do something. Bitcoin price is now getting a deep correction and reaching $59k but I believe it is just a matter of time for bitcoin to start another rally and when that time comes, that can surprise us because we never think about that. It is better you ready for anything that can happen Cool
legendary
Activity: 2478
Merit: 4419
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November 17, 2021, 02:52:22 AM
#73
The fact that whales have great amounts of bitcoins in their wallets is a clear indicator of the high demand for bitcoin. When demand for bitcoin, or to say it differently, cash balances, increases it causes the natural growth in the bitcoin price. The growth in price makes each bitcoin unit stronger in terms of purchasing ability, which automatically means that more and more people can satisfy their needs by buying certain goods and services. The more bitcoins are being held by whales the higher purchasing power bitcoin gets. Whales, in effect, contribute to everyone's wealth. If you still want to get rid of them, then the only thing you should do is lower demand for bitcoin by making it almost worthless as savings technology. In that case, however, not only will whales be selling their hoardings but also other people because their purchasing power will plummet along with the price.
legendary
Activity: 2716
Merit: 1092
Leading Crypto Sports Betting & Casino Platform
November 17, 2021, 01:31:36 AM
#72
40% of all Bitcoins are owned by just 1000 individuals.

This gives them a disproportionate amount of control over the market as they are able to dump them at anytime.

This is not to mention the high proportion of bitcoins held by miners and exchanges, who may have perverse incentives to ensure that as many people buy up bitcoin as possible and hold it for long enough for the price to rise.

Is there any way to deal with the high degree of centralisation that Bitcoin has?
If me i will accept it, not want to force or think about something bigger than what i can do. If whales want to pump bitcoin then i don't have other choices to follow, if i have coins then i can sell it. If they dump coins and i still holding some, then it is time for me to be patient because someday they will pump it again.
full member
Activity: 756
Merit: 105
November 16, 2021, 06:15:10 PM
#71
1000 individuals is a lot to count, so should we worry, and surely those 1000 individuals are spread all over the world, so maybe the bitcoin balance will be maintained. although sometimes bitcoin drops drastically, but that's very reasonable, considering that bitcoin is now very influential on world issues.
hero member
Activity: 3164
Merit: 611
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November 16, 2021, 05:58:50 PM
#70
We can't blame holders who have the ability to dump at any time because they're the ones who believed in bitcoin from the start and can buy it at any price. This is an investment, which is why, in order to gain money, you should be able to plunge in and swim in the ocean. Whales are whales, but they won't sell until they're satisfied with the profit they'll receive. Also, because the market hasn't gotten centralized as a result, it's still worse to have a bunch of fud cases than a whale selling his bitcoins to cause the market to crash.
Indeed, whales are also investors, we can't rid of them but instead, respect what they do and go along with them if we can. Such manipulation could be possible at their hands but not to say that they are controlling the market. And that because they have the money enough to direct the price trend, that gives them enough profit more than us small investors.

@OP, The fact that they are not killing the market then has no reason why we have to get angry with them. And besides, their contribution to the market is huge and that very helping for this become known to the community.
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