Topic: What would happen if a group/person bought all the bitcoin in circulation. - page 2. (Read 2339 times)

So, you could buy Windows 11 when it comes out.

Hello. I was just thinking: what would happen if someone or a group of people such as Bill Gates, decided to purchased all the bitcoin in circulation, or a majority of it anyway.

They could purchase it for $500 per Bitcoin.
Then, due to the hightened demand and lack of any other way of getting bitcoin, they could be sold on for more than $1000. Making a $500/unit increase.

Reminds me of that story:
A businessman comes to a village, where there are lots of monkeys. He promises that he will give $10 per monkey, initially people don't believe it but as time goes on, they start catching and selling nearly 50%(initial population 1k) of the monkeys to the businessman. He then tells the people that he will be going somewhere else and will come a month later with a better offer. A month later he does come back and this time offers $40 per monkey, now there are only 25% of the monkey left after villagers sell all the remaining monkeys. Once again the businessman before going to to some other village says the same thing as last time. And a month later after that comes with an offer of $160 per monkey, this time all monkeys are captured and sold by the villagers and the businessman gives the payments promptly, now no monkeys are left at all in the village. Now what the businessman does is, leaves his secretary in the village and goes somewhere else with the same promise as the other times, this time he promises that he will offer $640 per monkey next time. Now what the secretary does is, starts selling monkeys each for $400, as the villagers know they can later sell for $240 profit, and that there are no monkeys in the village that they can sell, they start buying the monkeys from the secretary. Now what happens you ask? The secretary runs away with the money and then meets the businessman who then laugh at the villagers' stupidity.
While the villagers have monkeys 

Great analogy to show that bitcoins are actually monkeys.

Reminds me of that story:
A businessman comes to a village, where there are lots of monkeys. He promises that he will give $10 per monkey, initially people don't believe it but as time goes on, they start catching and selling nearly 50%(initial population 1k) of the monkeys to the businessman. He then tells the people that he will be going somewhere else and will come a month later with a better offer. A month later he does come back and this time offers $40 per monkey, now there are only 25% of the monkey left after villagers sell all the remaining monkeys. Once again the businessman before going to to some other village says the same thing as last time. And a month later after that comes with an offer of $160 per monkey, this time all monkeys are captured and sold by the villagers and the businessman gives the payments promptly, now no monkeys are left at all in the village. Now what the businessman does is, leaves his secretary in the village and goes somewhere else with the same promise as the other times, this time he promises that he will offer $640 per monkey next time. Now what the secretary does is, starts selling monkeys each for $400, as the villagers know they can later sell for $240 profit, and that there are no monkeys in the village that they can sell, they start buying the monkeys from the secretary. Now what happens you ask? The secretary runs away with the money and then meets the businessman who then laugh at the villagers' stupidity.
While the villagers have monkeys 

I don't know man, if someone offers a million for a Bitcoin I wouldn't trust it.         

well, all is a question of supply.
you can't buy ... proprietary bitcoin unavailable on market for example (like my bitcoins in cold storage).

because it's my life economies.

  but if a big player is here, i can sell 1 BTC for 1 Billions.
good deal because ... they have always plenty of billions over the hand : http://www.celebritynetworth.com/list/top-100-richest-people-in-the-world/

Hello. I was just thinking: what would happen if someone or a group of people such as Bill Gates, decided to purchased all the bitcoin in circulation, or a majority of it anyway.

They could purchase it for $500 per Bitcoin.
Then, due to the hightened demand and lack of any other way of getting bitcoin, they could be sold on for more than $1000. Making a $500/unit increase.

it's not possible to corner the bitcoin market because all the coins are not created yet.