Bitcoin Forum

1,000 People Own 40 Percent of Bitcoin Market (https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market)
Easy to understand why the price is volatile. Could collapse soon or rise really really high in the next 5 years.

It is not so simple. In order to destabilize the market price, the whales are forced to sell a lot of coins. What if users will buy all these coins and to stabilize the price of bitcoin? All these 40% can easily go for a normal user. We are all guilty of giving the whales the opportunity to manipulate the price.

The more users who will buy bitcoins, the larger than market can get. This is happening right now, so expect that bitcoin will not collapse soon.

yes and even less people own even more larger persentage of ethereum market this is type of thing that happen in world , smartest people adopt first and people who are with mental challenge adopt last . in this world majority of people not so smart so ratio always will be like this with every coin

Exactly this  :D

We're not in the old low trade volume days, beware of this first, there are millions of market participants and they're greatly appreciated if they whales sell their bitcoins to the market buyers. The market is much more crowded now.

The top 1000 owners are very smart people and they have bought Bitcoin as they have been able to see its potential and it is not in their interest to crash the market by selling many bitcoins as - there are now many buyers and also the bitcoin potential has not been reached, it is only at the begining and they would significantly reduce their wealth if they sell lot of coins now.

For sure that people are now very rich maybe they are now millionaire or billionaire person. For sure they also patient because they wait the price to increase more and that is the best thing they gonna do and their decision kf buying and holding bitcoin is good. We don't know what will happen in the bitcoim after 5 years maybe it will decreasw once these investor sell their bitcoin but I hope they hold their bitcoin for few years or decades so the price will become stable and continue to increase.

I think some time ago the was news that 1% of the world richest owns half the global wealth, that's why i keep on saying that its only the rich that are getting richer because they have the means to invest in anything that they find lucrative whiles we struggle for the scraps.

It is always like that, in our world always a minority of rich people control the majority of the wealth. You will find the same aspect everywhere, economy, education, politics... Why should Bitcoin be different?
Socialistcoin couldn't be possible and survive and even if you distribute fairly every coin to all people, after few months or years, you will find a minority controlling it ;)

Yeap, if all these guys do moves in relation we may suffer huge swins in prices, in a fact they have control of the market.

This is not too different from the real world, where around the top 1% own around 50% of the economy.

Also, these 40 people you are referring to probably got into bitcoins early and mined when the difficulty was very low. I remember at one point ASIC miners paid for themselves in 5 days.

Agreed about what you said. 8) And even if those whales sell their bitcoins and price will go down expect for "new" whales that will buy more when that opportunity comes. Every people are different and have a different way of view and way of thinking if others easily get affected by FUD other people grab that opportunity to buy when the price is dropping.

The whales can dump bitcoin for a moment, but the price will increase again like always did.
The whale's bitcoin can go to normal user hands, anyway im not sure about this numbers '1000 ppl own 40%'? Is there some proof?

This is the reality that is why the small investors are at a disadvantage at times when the whales move. What we, small investors can do about it is to at least have some clue of the whales activity because in this way, we can act upon their move and be able to move in sync with them. According to the article, it is not illegal for the whales to collude to manipulate the market because bitcoin is not a security that's why they can freely do what they want but then if ever they do discuss and work together like sell a bulk of coins then there are many willing buyers ready to grab some at the bottom that's why bitcoin may not collapse.

On what is that claim based on? If its based on the BTC rich list (https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html), then I would argue that the author has failed to consider that many listed in the top of the rich list are cold storage wallets of exchanges. Those coins arent owned by one person lol.

I think in a row of biggest Bitcoin holders are the first fans of this cryptocurrency who took a risk and bought or mined huge amount of these coins. Years ago it was nothing, now it has the highest price than any bill.

I am still skeptical about the numbers that article is giving us but I have to say there is a huge difference between people holding bitcoin and people who own ethereum.
those who have any bitcoin have either bought it with their hard earned cash from the market or they have mined it in early years or are still mining it with ASICs and they are taking a big risk.
but those who are controlling ETH have gained their control through premining 70+ million of it! they are not risking anything, it is free money they got out of thin air.

I think that is early adopters of bitcoin and who still hold and believe in bitcoin ....

hahaha same as what I was thinking right now! what will be happen if the big investors who are first that adopts bitcoin and holding it from the start..
a good thread considering how and amazing people who are playing a big role in Bitcoin economy which we are taking advantage right now hehe. the first one who has big coins are the one who are big and influences investors. imagine bill gates hahaha  ;) connections and also the advancement of technology is their assets  :o

I have read too

All manipulations with the market come from these guys

It is possible since nowadays it gets harder to access bitcoins. This forum provides some decent income but abused by farm accounts especially the signature campaigns. It's proper that mods implemented rules associating this problem. Its hard avoiding another conflict to arise, accessibility becomes less that could lead to greater risks of manipulation.

The fact that 1000 people own 40 percent of Bitcoin Market is not good, but I do not think that these people will make a big sale in the near future.

so it is, this is the early followers, Winklevoss twins first bitcoin billionaires

It is happen not because smart or not but have money to buy or not. Thats the most important thing.

Not likely to collapse any time soon if they all sold at the very same time then it would cause a ripple in the market but some one else would become one of those 1000 people and the cycle would continue.

to crash any market, the "whale" would have to sell a large amount for low price, but the more they crash the market the more they lose bitcoins sold at low prices in the process. It can be done for only so long.

8 people owns more fiat money than 50% of the worlds population and that number will be lower over time.

Bitcoin is doing just fine, people will use/sell them eventually.

hello)
I want know what will happens if all bitcoin holders only hold their bitcoins?) How will increase price? Nobody sell and almost all hold it for good times) I can assume that those 40% are holders of bitcoins  another 60%  want will hold bitcoin also?) ;D

there are some exchange accounts in the list, don't forget it

That is not that high of a number. Hackers could target those people because they are holding too many coins.

They own 40 percent of all bitcoins. And another 20% of bitcoins are lost forever in the blockchain because people lost their private keys years ago. Now just 40% of the total supply can circulate. Maybe thats one of the reason the bitcoin price is that high. Because its more limited then everbody knows.

Mining pool owners,Exchange owners and Developers are currently Manipulating the BTC Price.  BTC has become corrupt and is failing....The unconfirmed transactions prove this and the high fees associated with sending proves this.

For years BTC has sold the idea that it was the ultimate Currency and i bought into this shit with many thousands of others.
In reality greed has take over and it shows now. The average user is fucked.

Believe it or not this is the state of BTC today.

I think everyone will take huge advantage of every business, if 1000 people really use the market as their biggest business, then I'm sure they will become millionaires. even they will dominate the market 100%. and it may happen.

I'd say that some concentration of coins in whales' pockets can actually be a good thing, because it can serve as a stabilizing factor. I hope that most whales are very educated in Bitcoin's technology, so they are very unlikely to panic because of FUD, like it happened recently with all the attacks on Bitcoin. If Bitcoin was spread across weak newbie hands, we'd have giant crashes on every big news, because a lot of people still don't know how to HODL and think that some problems like transaction fees are going to kill Bitcoin.

Where is this number from thin air?

I would say 100 wallets control 20% of the early coin and then it got diluted

but less than 200 can probably move the market

the missing wallet is satoshi, some have said it's a million coins

other than that, who was an early miner when coins were coming off in high volume with home computers

is there a wallet tracker showing what wallets have x coins?

anyway, if this number has some thing to back it up I'd be interested in looking at the source

another good stat would be to see year by year how many coins were mined, the early  years not many were mining

so if say 10 million got mined 08 to 10

then yeah, it could be very few

so it all depends on when the bulk of coins got released

Yep, I would wager 25% to 50% of coins are lost, hard drives crash, people lost interest and then forgot info

So 21 million might be 10 million that will be used

LOL

so the whole number is unknown other than 21 can be issued and almost 17 million have been mined

I'd like to see a yearly breakdown showing how many coins got mined and when

that would show when the majority of coins got minted

if over 50% happened the first few years, then not too many wallets control a ton of coin

then how many have sold it off over the years when it was cheap, at what point did early miners say 100 bucks or 500 or 1000 is enough and dump

but when the coins entered circulation is a big key to this question, I'd say pre 2012 not many were involved then 2012 it exploded then 2014 it exploded big time and now well its exponential

there's actually very little fiat in circulation

try to get 100K cash from a bank, for 30 years they look at you like what

they have to bring a brinks truck to give you a lousy 100K

now 8 people might own the fiat digital illusion

but in reality, very little cash exists in the world

it's all fake digital money, nothing is real with fiat

banks use digital banking and have for over 40 years

so fiat is nothing but a big digital scam

you think the us gov is actually printing much money today, they just give permission to the big banks to adjust their digital ledgers they don't even need to print fiat now, they just tell big banks to add another zero so they have an extra 100 billion or whatever they need

it's why gates said bitcoin is better than currency, he knows it's all fake

imagine he goes to whoever MS uses and says I'll take my 50 billion in hundreds

yeah sure, he can never cash out and if he wants to take say 10 million cash somewhere, it's impossible to move 10 million cash

have you ever seen 1 million cash, I have, it's not like the movies it takes more than a brief case, it's almost a duffle bag

so cash and fiat is like gates said impossible to move around

fiat is now nothing but a fake digital currency it's why smart tech guys with mega millions like it, they know they don't have anything real so they might as well get bitcoin digital credits

haha

it's all fake the whole system

ok here's the real info

https://blockchain.info/charts/total-bitcoins?timespan=all

end of 2012 10 million had been mined today it's almost 17 million

only 1.6 million got mined when btc was not many people

so 08 and 09 1.6 million coins cut loose

then 2 million a year for 5 solid years

now they are getting less and less

now in the early days miners were happy to sell them and they got sold cheap

so I don't think the hoarding started until silk road era when all of a sudden it went crazy

so you have some big positions but million coin wallets are urban myths if anyone has one it's satoshi

other than that, I think the biggest wallet is probably the winkie boys and who knows what they kept in it when they lost their SEC play

they had a lot of backers and when they couldn't get approval to do the original project they probably had to liquidate most to pay the backers

i do not think that Bitcoin will collapse soon because more and more people are getting involved in Bitcoin so the market is getting larger, the demand higher but the supply is low because the BTC stock is limited, so it is becoming rarer.

1% of USD holders own 99% of the Wealth in USD. This post is silly.

Hey who do you think you're calling mentally challenged???

many people lost their bitcoins a long time ago, i dont think that stats are real, is not possible resist to sell when it raise 100$ in that time was amazing and many people just sold and  other just bought.

many people have lost bitcoins even me a long time ago. so dont worry about the holders, the market is telling you the answer.

It will not collapase, a new user of bitcoin can easily acquired thru exchange so it will spreadout as soon as possible, don't worry about whales as long as you now how to go with the flow. :)

I don't think that all that people will sell all of their bitcoin even if the price is too expensive because I am sure that they will use bitcoin as their long term investment. they will withdraw their bitcoin only if they have urgent things and they really need a big money but if they don't have any urgent things, then I think they will keep their bitcoin and make a big smile to see the price and I am sure they are the richest person that will have much of bitcoin.

These billionaire investors can play the market anytime they want because they are also organized but I don't think they would let it collapse because they are all too greedy and I'm sure they would want more than a billion which is a trillion in return.

Because early bitcoin prices are so low, many people have a lot of bitcoins, so it's dangerous. But when bitcoin is more and more fragmented, it is more beneficial to the development of bitcoin.