Topic: What to do with whales? - page 4. (Read 701 times)

Sure that this raise the question of whether they are able to manipulate the market or not, but you have to take in consideration that these people who own 40% are not gonna someday agree on dumping their whole cap which will actually affect the market significantly, and even if one of them does people are not so influenced by drops that much anymore, the panic selling is just an old idea that is based on bitcoin not being a known assets that is always being at risk, bit now with crypto and bitcoin as a solid market that all major investors have part in it this won't affect it that much.

Whales are the uniqueness of this business. These cannot be controlled by anyone. This is due to large-scale selling or purchasing of bitcoin. These are the ups and downs known as jumping dumping also. This act also can be seen in different stock markets but not as it is in the crypto market. Bitcoin is the father of all coins. So it's rising and falling affect all sub coins in the market. Sometimes whale is unexpected and some traders or stalkers gain and some get lost.

It is actually a fact to take into account, but it should not be binding not for you or for anyone who has just arrived at bitcoin.

You Understand me the point!! it's like you just do your thing, You get to be on bitcoin in the version that is: BTC units for some or satoshis for others, oscourse it not change the current holding percentages and it will not even prevent the list of large holders bitcoin changes, but we have to be present in the holding regardless of the amount, and that's the first thing.

First and foremost, to be clear, this is about centralization of Bitcoin as a native currency and not of Bitcoin as a network itself. Bitcoin as network remains decentralized whether the large bulk of BTC are in the hands of a few or well-distributed across the community.

As to what we can do to the current status, I don't think there's something we can do about it. But there is definitely a way for things not to get worse. I guess it helps that retail Bitcoin investors be properly educated of the potential of Bitcoin itself. If they remain as mere speculators, as pure Bitcoin investors who are only after the money they could gain from its price appreciation, they are more likely to sell upon profit. In which case, they are most likely selling to the whales who are acquiring and acquiring without selling. This is the reason why Bitcoin is focused on them. It is not only the fact that they can afford.

But if small-time owners of Bitcoin learn to HODL in good days and bad, this centralization wouldn't become worse. Furthermore, if Bitcoin consciousness becomes more widespread and new retail Bitcoin owners would begin to stack Sats little by little instead of selling, this situation wouldn't get better.

In the long run, however, a stronger demand will neutralize the impact of whales suddenly selling in bulk.

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.

In short words nothing, we can do. A major part of Bitcoin holding by whales does not mean that market becomes centralized. Yes, it is true that they can manipulate the prices sometimes, not always. If they can manipulate always then it shouldn't dump anymore, because whales will try to keep it up always since they are holding a major part of the Bitcoin. They can sell it at a higher price. I know that they could accumulate more during the dump, and they are doing as well. But to be honest, you have nothing to do with them. What you can do, just follow the trend of whales, so you will get some advantage from the volatility. Any other action cannot help to fight with whales.

The Whales control the entire ecosystem of cryptocurrencies. They can make a huge impact for dumping or pumping. such as BTC whales have been sleeping for a while in their BTC wallets but one day it moves all the BTC out and sells it for a huge amount that will cause the whole market to panic before the price crash sudden drop, so that's why I think the whale is the key point of the electronic market because it determines everything about the price going up as well as the price going down.

I think the only way to deal with Whales is HODL. Hold on for dear life. If you don't think you will profit more by holding on, just look at the price from the beginning. As you can see, your investment grows over time. But HODL is very hard to do it especially for new comers.

The big question with a lot of those is how many are long term cold storage for exchanges that took some steps to make sure that they could not be traced.
Not for any other reason then it's none of anyone's business.
I could see Binance / Bitfinex / OKEX and many others having a lot of BTC in known public addresses and a lot more in unknown ones.

Keeps things a bit more secure.

-Dave

I don't know what OP is expecting here. But no one can dictate those whales what to do with their holdings. After all, we all have our own freedom what to do with our funds.  And besides, bitcoin is decentralized not a centralized coin, so he has no worries about this aspect of bitcoin. Even if we say, large portion is owned by 1k individuals or entities, still, it is not their interest to control the market. Also, the reason why we have this market performance is the supply and demand in play, now, if they will control it (but not gonna happen as I don't think they will be communicating with each other), I don't think we will have natural market demand.

Don't get bothered your mind thinking about the whales, they already exist before you and the people who come first had accepted that be going to happen. It has to know that these whales are also investors, we don't control them nor do they also have control of the market. maybe they could give a huge impact on the market trend but it doesn't mean they make Bitcoin centralized.

It is an old figure, it never looks like that this time and I believe it was more than this number...might be triple.
Anyway, we don't have a concrete source of information that could prove as people wanted to keep anonymous rather than telling others.

Exactly and you are right.
Due to the limited supply of bitcoin, there is the possibility that there is someone who can play the market and that is what we called whales and there is nothing we can do at that point someday soon when bitcoin has increased the individual holders and those whales will hardly to manipulate the price because it will become more expensive. I don't think bitcoin has a centralization it just sometimes there is greed for people who want to have a benefit from bitcoin.

Bitcoin is still decentralized, even they are owned by some parties mostly (or whales) it doesn't mean to be centralized, and they also may not be willing for centralization.
Just go on because the Bitcoin market is still very interesting and worthy whatever the condition and holders

This is the same worry that what if satoshi wakes up and started moving those untouched bitcoins. Well, those are a million of bitcoins. And that's why you don't have to think about it. If they're going to dump, let them dump it. They deserve the profits that they'll take soon and what if they're also one of those early people that have bought bitcoin at a low price and believed on it and held it until now? They all have the rights to everything that they want to do with those bitcoins that they hold.

No, there is nothing you/we can do about it. You can see the addresses but you don't know who they belong to and the great feature of Bitcoin is the ability to be fully decentralised so having a handful of people holding a large number of BTC is (I suppose) natural.

They have been incentivised by being early believers, and there's nothing you can do, they will dump and buy as they please - it is after all a free market and you must operate with this in mind.

The more bitcoin gains value, the harder it is for those who hold them to dump it at once. Some of those elite few may sell their bitcoins, but others who really want to hold it for some other reasons and not just profit will hold on to it. Besides, those whales will never offload coins at once, and they know so well that if they did, they will lose a lot of money and their bags will be useless.

Whales will exist no matter the environment, and there’s really nothing we can do to sway them.

The "%X of bitcoin are owned by 1000 people" is a meme at this point, because it's always different X that is being claimed - 40%, 90%, 99%. Because the truth is, no one did a good research about it. The thing about any wealth is that it will always be concentrated in the hands of the few, because once you get wealthy, it's easier to get even more wealthy.

I can't agree that Bitcoin's supply is centralized. Centralized is when one entity control 30%+. Satoshi only controls 1/21 of Bitcoin's supply and doesn't do anything with it.

You should consider that most of those 1000 individuals which some of those are exchange wallets and also consider that there are wallets which are totally lost or been forgotten thats why i dont really believe about
being centraliized and asking about on how about the whales? Just let them be because even if they could really dump the market but doesnt mean that they do have the full control of it.
The community is big and as long there would be some demand then it could actually recover or move according into it.

Whales control the whole ecosystem of crypto. They can create a huge influence to dump or pump. If we see other coins like xrp or solana's whales, a maximum of 5% of people are controlling the ecosystem. If they do anything contradictory decisions, the market would collapse, they pulled back the market. They make the market stable in its own way. From this concept, whales do what they need to do to make profits and also for the ecosystem.
You can read these articles: https://decrypt.co/78416/who-are-bitcoin-whales-how-do-they-trade
https://bravenewcoin.com/insights/how-whales-influence-the-price-of-bitcoin
https://www.linkedin.com/pulse/how-crypto-whales-move-markets-nitin-kumar-

I don't think that there is anything we can do about this subject. Because as you know, all people have the freedom of buying whatever amount of Bitcoin they would like. And this will never change in the future also. As a result, whales will continue to exist and will be able to manipulate the market with huge buy-sell activities. I respect everyone's opinion about this of course.