Bitcoin Forum

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

1. It is only possible in theory, however very very unlikely.  All 21 million bitcoins CAN exist on one address, but how they could ever get there is a whole 'nother matter ;-)

2.  He can only control bitcoins that he owns.  The moment he sells some coins to someone else, he no longer controls those coins.

3.  Bitcoin would have little value if only one person could have it.  He would likely exchange it and it would re-circulate.  So, effectively, the answer is "Yes," an exchange could not operate until he sells some of his bitcoin.

Because of point #1, though, amassing ALL of the bitcoin is near impossible.  You would have a better chance of winning the lottery while getting struck by lightning. ;-)

Your English is a bit hard to understand, but I'll try to answer your questions.

It's 100% impossible for one guy to own all Bitcoins in existence, simply because there are a lot of permanantly lost Bitcoins.
In theory it should be possible for one person to buy all remaining Bitcoins in existence (once they're mined), but I really doubt that anything like that would happen, they would have to offer a really high price for them and even if they did, I doubt that 100% of people holding Bitcoin would sell.

Then bitcoin trading is non sense now and bitcoin will now be dead (I supposed) if ever all bitcoins will be owned by only one person. Also since there is no trading that is happening, the volume will now be a muted one resulting for bitcoin to become priceless and eventually will turned into a deadcoin.

And no, the guy will not be able to sold all the bitcoins since there will be no exchanges available that accepts bitcoin trades due to the fact that it's volume is now dead. Only P2P transactions will work.

But overall, that is impossible to happen.

So, what happen for all of us who are using bitcoin for some transaction or trading? Probability is bitcoin can not working fine like ever happen. So, nothing more people interest with bitcoin, isn't it?

Than, Is that guy can control price value of bitcoin in the market? Are people will run from bitcoin and will make another currency or just trading them altcoin with fiat currency or another way?

of someone got all of the bitcoin in the whole world. and then bitcoin would be worthless, its like just an ordinary item that has no value because you cant sell/buy it like goods in the market. and for that reason it would be just an item which cant be used. but it depends when the demand of bitcoin is high, if that happens that someone would be rich in an instant.

Pray tell, exactly how the fuck did you pass muster so to participate in a sig campaign? Inquiring minds wanna know.

To be fair, here's my question(s):

Anyone like sperm because sperm offer population growth, and some excellence rather than use self-procreation. In my mind i have many question about it.

• Is there some one can get all the sperm for him- or herself?
• If impossible, are that guy or gal can control it?
• Is any sperm exchange will not working until that guy or gal sell some their sperm?

And don't even get me started on controlling the world's corn supply where some advocate, "Nothing goes in where corn comes out!"

It depends if after he sold all his coins, he will inject again lots of $$$ in the said exchanges. If he sold it for good then he can't have an overall control of price manipulation. Also once he sold his coins and people stills like the bitcoin hype then the coins will now be distributed. That guy will now just become a part of big hoarder if ever he decided to do the one I mentioned.

But you know this discussion doesn't really make sense since it's impossible to happen.

It's crazy, if someone has all the total supply of bitcoin this would not be progressive as we are seeing now, no regular circulation that will happen and no demand as well. Think of that, it's like worthless coin you are holding, and most likely the developer has all the coins that does not click to the investors.

It is impossible for a single person to accumulate all of that 21M bitcoin because as we can see there are more than millions that can not be accessed because of the lost private key due to crashed HDD.


If someone is  holding majority of the coin then he can actually manipulate the market.


Well if assuming the person got all bitcoin, Bitcoin market will not move until this person decided to sell his bitcoin.  But if in case he does not want to sell, exchange will still operate but of course it will not trade the one that is not selling and will trade other cryptocurrency.

Yeah it is a crazy idea.  If only one person holding bitcoin then bitcoin is totally worthless, the reason, there is no active market for it.  Though the person have all the control over the price of that coin, the problem will be the demand, i doubt anyone will be interesting to buy such coin that have no market or will be having to start a market, unless the guy is setting up an inital coin offering to put up a market.  As for the exchange, I think the exchange will go on trading with the possible popular coins and other altcoins.

Not a problem, since the sun will burn out first.

Theoretically it is possible.

But if all Bitcoins is own by one single person, the value will be close to nothing and rest of the world will simply switch to another widely distributed currency. (  Litecoins, anyone?  :D  )

Anyone can buy 21 million of bitcoin or total bitcoin than can exist if he can afford to buy them paying whatever price other want to sell at. But he have to wait till all bitcoin get mined first because there is only 16 million bitcoin out there and many of bitcoin have been burned so the exact total number of bitcoin is not 21 million.

It is possible to get a 21 bitcoin if that had a big business for bitcoin he will make it.  We don't know if that guy can can control it because bitcoin has a limit and the limit 21 million of bitcoins.
Imagine  that the guy has 21 millions of bitcoin surely the exchange will not working cause he had it all.

No supply = no demand

No demand = no users

No users = worthless investment.

Having all 21m Bitcoins is one of the absolute worst things that can happen to anyone, because it means they become worthless incredibly quickly and there will be no point for a majority of people to use them.

While short-term benefits are good and it means they'll have high investment value for a short time, it peters off pretty quickly afterwards.

If someone have all the bitcoin in the world, then bitcoin will be a failed currency. Why people will invest in such a currency which they can't get hold off? So no investment will be flowing to bitcoin and the price will go to the lowest level.

People will only invest in such currencies where they can make profit. So if only one person holds all the bitcoin, then bitcoin and Valorbit will have the same value and no one will want to buy.

its possible but that guy will have $14,326,766,297 in his wallet! that means even satoshi's wallet was compromised. 14Billion USD is no joke, he can actually buy our country and have us all as slaves.


he'd be paying his slaves with btc. that should create back the demand.

@Gleb Gamow, i like how you articulate your response to these queries of hyudien.  :D at least you still put your effort commenting on this topic though his questions are....b*ld*rd**h...
sometimes reading in the forum adds up spice in your everyday living  ;D

First the main point is what ever bitcoins mined till now in that only 70% is in circulation to active users and balance more then 30% is in dead stock in the sense they are in dead wallet which has been thrown by the users who adopted the bitcoin in the starting and seeing the price very cheap they have thrown their wallet and now they are crying. So what ever the balance coin and what you are telling about future coins holded by one person is highly impossible and even if he got it then the price of bitcoins will get down very soon as when no one can get bitcoins then all of then will forget about bitcoins and start to live with their fiat currency.

I could say that this is really a dumb question since bitcoin isnt totally been mined and also even satoshi itself cant even accumulate all the supply because it would just worthless if he do that.If you own those all bitcoin then it would be useless and has no value at all.

lol, if someone or some group has all the bitcoin, then bitcoin is dead. It's no different than someone create a new coin and hold all the coins minted. Without people's usage, the coin is worthless.

Thanks to The Fine Art of Juxtaposing, sometimes I don't have to comment at all. <insert el winko smiley here>

Do you have any problem with me? I don't ask a question just for you, you know in this world nothing something impossible. A long time ago some one have a dream to fly but other people curse him a crazy man but, as you know we can fly now. So, what the hell are you said never change anything  :P

All 21 M bitcoins are not into existence yet, so "that guy" needs to wait another 100 years to get all bitcoins mined out. Still, 10% to 20% of bitcoins were permanently lost due to various reasons hence "all bitcoins" may be possible but certainly not all 21 M bitcoins.

To cease the exchanges we does need to buy all the bitcoins, just buying all offers will be enough but for that you need trillions of dollars as if sellers come to know you are going to buy bitcoins then they will start quoting millions for their bitcoins.

No. you simply can't because there's tons of miners competing to mine every block.
The user can do whatever he wants to his coins.
The guy with all the bitcoins can't exchange it because bitcoin won't be widely known at that point so it has no value. It will take a lot of time before it can gain some value.

for someone to have all the bitcoin he need first to buy all the bitcoin, this mean that he will increase the value to unbelievable level and make bitcoin a strong currency

not so different than the standard slwly adoption that will do the same


itr's partial true if he will never spend anything even among his friend, because miners need fee when the block will be depleted

but as long as he still move his coin to other address he is paying the miners and thus bitcoin can not die

That's truly impossible. Is it possible to get hold of entire fiat into the hands of a single hand or a group of community. Same is with bitcoin, though it has got the calculated number of bitcoin to be generated within a targeted year. If someone is trying to hold or buy the entire bitcoin around the world too, its impossible.

That is kinda impossible. Even Bill Gates will find it difficult to buy soo many bitcoins.
Practically , talking or discussing about this topic is a waste of time
and time is money .
So it would request all of you to act like grown ups and concentrate on something important
rather than wasting your time in such unrealistic things.
Thankyou

yeaaa it is impossible, but at least someone or some group can have bitcoin the most .
currently the bitcoin supply available around 16 million and worth to 14.396.939.566 USD , someone can afford to acquire bitcoin with that much money?
i guess yeaa someone can do it (if it was stored in one basket) , but the reality it is not.

We are still mining, so it is not very likely to be alive when the last coins are mined. Some are lost and i do not see how you would recover them. As you buy all the coins up the price would go up a lot and you would have a hard time to buy the coins. What could be possible is to manipulate the Blockchain so you own them all. But this seems to be unlikely and would be the end of Bitcoin.

It's impossible because bitcoin is designed to work differently from what you wrote, a person can nkt have/earn (not even buy) all bitcoins. What happens is that another coin will "replace" bitcoin and exchanges will have that coin as a base and main coin like btc now.

No op not possible even In one of the wildest dreams can that happen, until he is the founder Mr Satoshi who could have kept this coins but again that's not likely to happen. Buy a Bitcoin and try to change the price, did it happen no right so that answers your questions no one man can control price. What will that guy do with coins for his while life he has to sell it. So exchanges will work and they will work good.

Obviously, somethin' haz got lost in translation for my post wasn't directed toward you though that's how it was penned because a crazy man said once, "Nothing something impossible." Feel free to comment once you figure out what my initial reply was not about. <this reply should keep him busy for awhile>

1 is nothing is some people can get havel all bitcoin 21 million, this now block bitcoin still run not end, so total suply in market this now not reach 21 million
2 is accident bitcoin if one people have all bitcoin, bitcoin die, same with new altcoin premine 100% nothing peole interest
3 i don't think about until disscuse about bitcoin exchanger because nothing and never one people have all bitcoin

It's practically impossible to have one person own all 21million bitcoins because the more he buys them from people the more expensive it becomes because if he manages to buy all from the world but the one that I own then I will sell that single one for the price of all that he's bought, so do you see how Herculean that would be? Secondly, once he has all 21 million bitcoins who cares? He should be able to control and keep it because it will lose its value and nobody would crave for them. Lastly the exchanges will be in existence but will be busy dealing in Altcoins.

At this point of time it is impossible for someone to get all 21 million bitcoins. And in the beginning if a person owns 21 million coins have started to sell his bitcoins the exchangers will only follow if potential market was already established. At present a person must have trillions of dollars or more to purchase even 5 million dollars how much more 21 million dollars.

Well good for him but if bitcoin is being owned by one person only, I think it will have no more value because there will be no demand of it. We all know that the value of bitcoin depends on the law of supply and demand. Owning all of the bitcoin by just  one person will make bitcoin lost its value.

If someone would own all the Bitcoins that exist, I think there are two possibilities: Bitcoin will either completely lose its value or the price will go up a LOT. I think the second one can't really be possible because the demand will be missing. For example, we are saving on BTC but the demand still keeps rising. Even if there are Bitcoin wallets that are lost, the demand still exists. If anyone has ALL the BTC existing, nobody will be able to buy it, so the demand will go 0.

This is a silly question. "The answer depends upon the Question?" Even if you could compromised blockchain it is not possible that someone can take over all the bitcoin because there are many wallets which users store there BTC and at the meantime there are users who store BTC in there body by implanting some hardware wallet. Some people use's paper wallet any many more beyond.

But if i had all the btc in my wallet the value of the btc will be 0.00 and no one would care about bitcoin anymore.

Hope this helps

Even if someone buys all of the bitcoins (from circulation) and if the demand of bitcoin remains constant then the price would reach very high level. On the other hand if the demand falls for any reason then the price will decrease (but not to 0 until even a single person  shows interest in buying bitcoins from him). This case is possible in new alt coins but I don't think it's possible in the case of bitcoin.

there is a chance that someone will owned all the coin, but if it monopolized by one person then bitcoin won't have any value, because there is no single transaction using bitcoin and nothing can be controlled since there is no value in the coin, and the exchanger will just exchange other crypto currencies, but to own all of the coin will be a stupid action

Be Honest.Could not possible at all.By hard working you can make good money using bitcoin but get 21 million of bitcoin just only dream!!
As we know there will never be more than 21 million bitcoins(MAX) in circulation.How it possible to control this MAX limit of bitcoins to a specific person,generally you can't.Yes,It could imagination only there no exchange will not working until that guy sell some his bitcoin.

Answer is Very simple .It will become worthless. If total bitcoin is owned by one person it will become worthless. What he will do with that? TBitcoins price increases only if everybody in the world start using it.I dont think anybody will buy from him also. If nobody is using it then there wont be demand for bitcoins and therefore there wont be any exchanges .More supply of bitcoins increases the price . Here there is no demand so its price wont increase. It will just remain as a software token in his desktop wallet who owns all bitcoins without any worth in his wallet.There wont be any use for him also who owns whole bitcoins  This is my opinion.

In theory yes a single person can own all the bitcoin, 21 Million bitcoin is roughly 18 Billion dollars at today's rate and there are few people who can buy all the 21 million BTC but its highly improbable for that person to get each and every btc from each and address for himself some of the btc are just lost in some lost addresses. And I'm sorry but i cant understand your other two questions.

Yes, someone can get 21 million of bitcoin for himself but it would take some time to save this big amount of bitcoin since earning bitcoin is not that easy because of the risks that we are going to face in this world of cryptocurrency.

No, this guy can't control the whole bitcoin that are existing in the crypto world. The only bitcoin that he can have control is his own bitcoin. He can choose whether he will sell it or hold it, that's the only control he have.



Indeed, because 21 million is big amount of bitcoin to have of an individual, so let's just say that all of the bitcoins are in his wallet, so technically there will be no any exchange in the blockchain until this guy sell his bitcoins, to have a cycle again of bitcoin in the bitcoin network.

[/b]

There will be no circulation which means bitcoin would be no value and you are right there will be no exchanges since there is no other people who uses it. This mindset or idea is just nonsense since all bitcoin havent been mined yet.

then it would mean nothing since nobody would accept beacuse only one guy can pay with it XD

But what if that someone was Hitler! Just kidding. I think you are right.  :D

One person monopolizing all the Bitcoin there is, that is simply not possible or imaginable. What kind of service would such a person render as to corner everyone's holding? If maybe Satoshi Nakamoto, left something that could steal everyone's coin, which I strongly doubt, then it would ultimately become worthless in his hand, because the true value of the coin is in the number of people solidly behind it.

1: For saying, it is of course possible for someone to hold all the coins, as long as he convinces all the bitcoin holders to sell their coins to him for a particular rate, which is really unlikely to happen.

2: If only one person is having all the coins, then probably the price wont be moving here and there which means it is totally under his control. If he does something with them then the price might start moving but that wont have a point as long as none of us will have a part of it.

3: Exchanges will surely keep running as there are other coins in circulation too, but not just bitcoin. There will be no trading against bitcoin for sure but the exchanges will keep functioning with alt coins i guess.

Impossible situation. Like someone had all dollars in the world, just can't happen. But in theory if just one person had all the coins, what would be the use of these coins? None. And they would be completely worthless, no one besides that person could use them, so what would be the point.

if bitcoin owned only one person, I think it will not have a price. Well, bitcoin has a high price because people want it. if only someone who has it, may bitcoin will not have a price, and I believe, one of altcoin will replace the position of bitcoin. but, it is not possible at this time  :D.

You are too greedy if you want to own 21 million bitcoins by yourself. Right now it is not possible to own all the 21 million bitcoins because some are already lost. And I will not do it even if I can and it is possible because I will render bitcoin useless if I do so.

In theory he picture painted is possible but in practice is not, the more he buys and hold, the more the price shoot up and there will be some people that it will only take insane price offer for than to part with their BTC since everyone has a price. Can he afford to pay $1 million for one BTC

Theatrically it is pretty possible, but where to take all this bitcoins? They get spreaded over the world. But I think if someone will Stewart to buy bitcoins the price will rise and every new bitcoin will cost more than the previous one.

I guess even theoretically also it will not be possible as there are a lot of bitcoins were permanently lost (burnt). One rich man will be able to buy only the offered bitcoins and not the stored bitcoins. There will be no guarantee that everyone will be ready to sell to him.

For an assumption if it will happen,
- price of bitcoin will be decided by that one person.
- bitcoin mining will be highly profitable.
- Exchanges may start providing tether-bitcoins for trading purposes.

yes that is a fact that it is not such an easy take. we can see that bitcoin  is distributed in all over the world, i think it is not even possible that all the bitcoin to be release. 

Since this is an assumption in which the practicality of this is zero then I will also say hypothetically that I see him controlling the price but I also dont see him having all because that will means all exchange sites will go, trading sites will go, signature campaign will also go and in the long run, I see scarcity of bitcoin which might make everyone turn to the next best alternative in the Alt world thereby abandoning bitcoin which will then lead to its worthlessness at the end of the day it will then turn to bad investment.

yes and the price of bitcoin trading so high that it is now almost become impossible to have all the bitcoin of the world because bitcoin has already distributed in all over the world.

If all of bitcoins 21m BTC on one people bitcoin will become valueless
because there are no demand and supply should the bitcoins be sold to other peoples
will make increasing value of bitcoins, bitcoin is not price if just one people who have it.

The thread title is just crazy, the answer is very self explanatory and we don't have to make further discussion anymore. Actually, this thread should be lock by now. IMO, we are just making repetitive comments here and I don't think it would be helpful for the community to grow.

I suggest to make more matured question for matured audiences like us here, it would be more appealing in the eyes of the many.

I am also of the opinion that this thread should be locked, because the arguments here are pointless and much ado about nothing. The simple fact is that no one can come into possession if the entire 21 million Bitcoin and I don't see anyone aspiring to embark on such a wild goose chase. Let's talk about things and issues that would move the community forward, not rhetoric!

The simplest answer to the big "if" is that bitcoin will loose all it's value.

But in reality someone having control over all the bitcoins is impossible

No. It is impossible. For take, someone emerged with such Napoleon dream and already captured large amount of Bitcoin but then rest of people will not gonna sell him as now they are part of (few sellers) too and are in position to manipulate price of Bitcoin. -Oligopoly market.

So, now its impossible to hold all Bitcoin and setup Monopoly.

Every person is owner of his own satoshi. No can can control Bitcoin held by someone else.

Correct. I, for example, would charge a billion dollars a piece for my coins.  And after having to spend...  ??? a trillion dollars buying all the coins on Earth he has nothing of value. This idea that someone will buy all the coins has been here since the beginning but has never made any logical sense. Bitcoin MUST be a collaborative project. It is a payment network and without a crowd it has no utility and mining collapses.

BTC is a group effort. 

Even Satoshi Nakamoto could not keep all the BTC. 

It can't work without peers to confirm TXs.

Laughter is nonstop ever since Gleb's first post :) :) :) can someone please call Satoshi and let him know that a buyer wants 21M BTC?
Like tillkoeln and his TPG, any time you ask him for 500M coins he'll gladly provide even though the source says total supply 90M. :D.

One of the main sources of the bitcoin and other cryptocurrencies price is the demand. The demand forms the price of bitcoin. If someone has all of the bitcoin and there s still demand for bitcoin, the price will rise inevitably. But I don't think there will be a demand if someone has all of the bitcoin.

It's not possible because I have bitcoins in cold storage that I'll never sell no matter what. Who's to say I'm not a whale with 1million BTC spread over 10,000 different addresses?;)

Just to add too, if you own all of something that isn't even tangible then it's worthless. If you're running the only node then it's worthless.

What is the real purpose of storing the coins ? are you using it as a collectable item  :D i am trader and i am pretty good at it. Idle bitcoin is just waste of your opportunity to invest into something good or start trading to increase your portfolio .If i was an initial miner back in the day then i would be having a stash of coins hidden away in a cold storage because you have tens of thousands of coins and that is not the case at the moment .
For the OP this is just a trash topic.