Topic: What to do with whales? - page 2. (Read 701 times)
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.
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?
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?
There is nothing much the community can do to whales without causing downsides to the wider Bitcoin community. You'd have to implement some sort of decay or tax on these amounts which would undermine some of the very benefits of cryptocurrency (stability against inflation and general security). Whales in many cases are a blessing, because they are taking a vast proportion out of circulation and unless they are an outfit like Paypal then those coins may never re-enter circulation. If you're interested in seeing your holdings go up in value then that would be a positive for you. There are always going to be hoarders and collectors in the world, so you have to ignore/work around them.
Whales can only move the market significantly when volume is low. They retreat when retail comes in. They basically like splashing around in shallow waters. Once the tide comes in they don’t have any power.
Also, it is not their best interest to control the market. And in the first place, these whales are not talking with each other because they don't know who's who are holding those big holdings. So how can they come up with an agreement to manipulate the market? Let's say, some have communication with others, but do you think these whales will really talk to each other and plan how to control the market? I don't think so. So you really have nothing to do with these whales because they have their own plans for themselves and it is not our business to know them.
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?
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?
It gives them the advantage for sure, but without manipulating the mainstream media they will not be able to do much, People will start to notice their pattern because most of the people do the same thing again and this world lack intuitive people so they will need people to do mass manipulation into market, Pump and dump schemes , FOMOs , etc.
Nothing really needs to be done with whales. maybe it's not easy for them to drop their bitcoin in a market because they can switch from a small amount and use it to invest even a small amount of bitcoin. When those people believe in bitcoin and cling tightly to a bitcoin owner because it’s a very important thing to everyone, Maybe they’re just looking at every price move obviously, because they may not know who the other is. whales and they only see the address of each wallet without memorizing who owns it.
The only thing we can do is create a new system where everybody gets xxx amount at the same time. You know who will never go for that? I think Bitcoin was as fair as a distribution system as you were gonna get. We can try again but wouldn't the richest just snag most of the newest tech just in case it "moons". I think we are in a perceptual cycle unfortunately at the moment.
Whales can only move the market significantly when volume is low. They retreat when retail comes in. They basically like splashing around in shallow waters. Once the tide comes in they don’t have any power.
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?
Dont worry those 40% are not getting along with each other to manipulate the market so there is no Centralization happens here.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?
but what we can do about that? best to be good in TA so it will be be better to find profit on your investments .
To follow their step, we need to learn more in analysis so we can predict where the market will move and maybe we can get some clue about what will they do with the funds.
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?
Dont worry those 40% are not getting along with each other to manipulate the market so there is no Centralization happens here.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?
but what we can do about that? best to be good in TA so it will be be better to find profit on your investments .
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?
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 believe it is a natural life balance. Nothing will ever be equal in terms of ownership or distribution amongst everyone. Even with this 40% of all Bitcoins are owned by just 1000 individuals, this doesn't mean that the rest of the investors in Bitcoin have not been able to make profits from whatever amount they have been able to invest and if you have enough financial power to make you a whole, you can be that any time you want cos we still hear of people buy millions of $ worth of Bitcoins.
Whales are inevitable. There will be whales at any time, and we cannot do anything to them. When the price of Bitcoin gets higher and higher, we will also consider whether we still choose to sell Bitcoin or continue to hold Bitcoin. But most people will continue to insist on holding Bitcoin. We can only manage ourselves. Don't do unnecessary research.
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?
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 think that 40% in hands of 1000 people is a sign of centralisation. Moreover, everybody know that Bitcoin is the most decentralised one. But actually, whales on crypto market is a real problem as if we are talking about small market cap coins, they are really subjected to impact of whales that can pump or dump the price very easily and nobody can deter them.
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?
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?
You should pick a better term since people usually mean "centralization of the network" when they speak of Bitcoin centralization.
Not agree! Just because some people have more Bitcoins than others does not mean the centralization of the market.
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?
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?
First you need to be clear that bitcoin is not centralized. Bitcoin is only crypto currency which is decentralized in true sense. Also it does not matter if 40% of the bitcoins are owned by 1000 individuals. They won't dump them together and even if few of them did, there are too many people who will be willing to buy cheap and hence don't expect the price of bitcoin to fall too much.
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?
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?
First you need to be clear that bitcoin is not centralized. Bitcoin is only crypto currency which is decentralized in true sense. Also it does not matter if 40% of the bitcoins are owned by 1000 individuals. They won't dump them together and even if few of them did, there are too many people who will be willing to buy cheap and hence don't expect the price of bitcoin to fall too much.
I think that OP is mistaking centralization with concentration.
Bitcoin being centralized means that the blockchain can be controlled by a small group of individuals or an entity,who can change the protocol.This isn't the case.
Large portion of BTC is being concentrated in the hands of a few early adopters,crypto whales,miners,exchanges.This is true and those people can influence the Bitcoin price and manipulate the market,but there are two things to consider:
1.They don't want the Bitcoin price to crash to extremely low levels,at least most of them don't want this.
2.They aren't united.Having 100 or 1000 crypto whales doesn't mean that they will act as a team.Most likely they will compete against each other.
Bitcoin being centralized means that the blockchain can be controlled by a small group of individuals or an entity,who can change the protocol.This isn't the case.
Large portion of BTC is being concentrated in the hands of a few early adopters,crypto whales,miners,exchanges.This is true and those people can influence the Bitcoin price and manipulate the market,but there are two things to consider:
1.They don't want the Bitcoin price to crash to extremely low levels,at least most of them don't want this.
2.They aren't united.Having 100 or 1000 crypto whales doesn't mean that they will act as a team.Most likely they will compete against each other.
You cannot make your comparison with whales and still if they hold major portion of bitcoins in circulation at this time the btc still remains decentralised as you cannot make it like other altcoins in the market.With increase in prices the and and supply being limited the whales will be able to acquire less and less even at high paying budgets also.The best you can do is to make investment on your basis and what you can do and rest leave this as nobody is going to stop investing and there are only 21 million of them available.
Is there any way to deal with the high degree of centralisation that Bitcoin has?
I know we think that they take control of the market price but that is really how it works and that is why we have to go along with these people. They can make huge changes if they want as they have the capabilities but it doesn't mean that they control everything in the market.
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?
Whales having that amount not bitcoin doesn't make bitcoin centralized, because you and I when we have the capital can be whale's as well, bitcoin can be used to purchase many crypto-currency so bitcoin is not in any limited amount, so I don't think the whales have 50% control of Bitcoin so it's still a decentralized crypto-currency, but the believe whales have in bitcoin wouldn't make them sell off at the same time.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?
even though they could really still make some impact but not really that much of a concern even you are just a small fry you could still able
to ride with the waves and take advantage with these movements.
As a Bitcoin user, I'm pretty much not concerned with how many percent of Bitcoin is owned by whales or institutions, it's not like Bitcoin is a pump and dump coin that you have to be worried about people selling their coins, even if people who have large amounts of Bitcoins decide to sell it all away, it can only affect the price of Bitcoin for the short term, as it'll definitely appreciate back up again with time. Having said that, there is no way to deal with this OP, you can't control or stop people from buying Bitcoin as they like, all you have to do is buy at your pace and hodl, the coin has an actual use case, thus if you believe in the network there is really nothing to be worried about.
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