Bitcoin Forum

can anyone help me with this

does owning 80% of any coin destroy the coin. if yes what is the max coin that can be bought

destroy in the sense that someone owning so much coins can do anything with the exchange prices.

But not in the protocol level, for bitcoin, but there are altcoins with other algorithms that are vulnerable to attacks if someone holds more than half of the coins

destroy as in the coin not working. would you know if the the new algos x11,x13, x15 are vulnerable if someone owns like 80% of the coin

This is not related to Bitcoin but to altcoin. I did not hear of us vulnerability.

why 80% ? u may hold 100% of ur coin and distribute it among ur family members ;D

Any PoX coin is vulnerable to an attack with 51% or more of X. With Bitcoin X is hashingpower. With PoS coins its the coins themselfes.

So any PoS coin is pretty much dead if anyone holds 80%. For all others (as has allready been said) its a way to dictate the prize.

You can own all the coins you want but if no one can trade with them or use them then well your coin won't be worth much
Unless your an early adopter and the community starts diffusing those coins over time.

And actually shorena has a point depends what type of scrypt is in use.

Holding a monopoly on basically any alt coin pretty much means its dead because there's only 1 person owning them or most of them.

I believe you're talking about AltCoins.

You should read the relevant whitepaper.

In Bitcoin hashing power is where the vulnerability is.

Someone with 80% ownership of a coin means no one really want to invest in to the coin.

1. if a coin has actual real world use, and people are smart to want to keep the coin for investment/retirement. they would not put those funds onto an exchange, atmost smart people put atmost 1%-50% of their hoard. so if you see 80%+ of the entire circulation on an exchange then there is little to no usefulness or desire to keep

2. not everyone sells coin at the same price, some have the prices at rediculously high prices and just leave them there for long term hope if a mega spike in price, so if you were to want to buy all coins, expect to eat all the sale orders from the current price all the way up to stupidly high prices (in short it will cost you alot to obtain all coin)

basically to own 80% of a coin you will spend more then you should for a coin that having 80% of coin available to be bought, means your spending too much for something that no one wants.

The coin can still be usable no matter how small transactions have to get. It can be divided down to one satoshi.

That's right, the coin will still be usable. ANd to be honest, many coins have been sitting in addresses for years. No one has touched those but still the others remain unafected.

The only way you could probably own 80% of the coins is if it was a crappy alt and was heavily premined. This is why you should leave pre mined coins alone. They'll just dump them and then the coins will be worthless.

Agree with that. It is not possible to accumulate 80% of any crypto-currency such as Bitcoin, without massively inflating its exchange rate. For example, if someone tries to accumulate 80% of all the Litecoins, then the exchange rate will jump from the current levels ($9) to more than $1,000.

For coins that use a proof-of-stake mining algorithm, it may destroy the coin in so far as it basically becomes a centralized coin. But for bitcoin, those coins could be lost, or owned by a single entity, it wouldn't matter for bitcoin itself. The value would just spread across the remaining range. If the person owning all those coins, decided to sell a huge portion of them, however... Well, talk about crashing the market...

It would defiantly discourage investors and therefore growth (at any reasonable phase)

Well in a sense, if someone own 80% of the Alt coin, and there is a huge demand for the coin, it would push the price. That person or group can then acctually dictate the currency price, by releasing or hoarding coins, when they see the need to do it. {Pump n Dump scenario}

But no matter how good this coin is, it will not carry trust, if everyone knows, that one person can dictate the price. So this factor will reduce the demand.