What do you think about this comment ?

[OmegaStarScream]

I was watching this video : https://www.youtube.com/watch?v=T_hBhymFfm8 then was checking the comments and I found this :




I'd like to hear from you and what do you think about this comment ? is he right or wrong (on the last part )?

[mixan]

He/she is just starting stuff to drive up the buy.
Probably a pumper/dumper him/herself. 

[shorena]

I was watching this video : https://www.youtube.com/watch?v=T_hBhymFfm8 then was checking the comments and I found this :




I'd like to hear from you and what do you think about this comment ? is he right or wrong (on the last part )?

#1 dont read youtube video comments, there should be health warnings attached to them.
#2 there is no way to know who ownes a certain address, thus there is no way to know how many coins someone has, thus the whole thing can not be based on facts
#3 FUD
#4 individuals own individuals...?

[unamis76]

That's been discussed here and there and there are some valid points that are recurrent on those discussions... Where does Business Insider base their info on? Do they count addresses as one individual?

And yes, if you link 1 address=1 individual, wealth disparity is bigger than some fiat currencies, that's known for quite some time... But 1 address = 1 individual isn't always true

[franky1]

most of the 47 top addresses are exchanges, who manage thousands of users.
same for some of the top 880 addresses. these are hot wallets for exchanges and businesses.

so the comments are statistics but do not have substance.. as they have not looked into who/what those addresses are.

[leex1528]

I don't understand how they are getting those numbers?  It is a youtube comment so I am guessing it is probably fake.  I thought one of the greatest things with Bitcoin is you have no idea who is at the end of the wallet?

[dothebeats]

It came from youtube, so I don't think I would really take what that user commented on that. Also, though what he said was true, just compare the figures to fiat and you will see which is much scarier.

[brg444]

I don't see what the issue is.

Bitcoin was never meant to redistribute wealth and make the world more "fair".

[gentlemand]

I'm sure it's exchanges and business that account for many of the largest addresses, but it's undeniable that there are some ginormous individual holders.

Assuming it becomes a success what are such people planning to do? They can either sell, which they can only do once. They can spend them which again spreads them far and wide. They can sit on them and then not much happens at all.

The criticism of its distribution is valid but none of the above are particularly spine chilling options.

[RussianRaibow]

I don't understand how they are getting those numbers?  It is a youtube comment so I am guessing it is probably fake.  I thought one of the greatest things with Bitcoin is you have no idea who is at the end of the wallet?

It came from youtube, so I don't think I would really take what that user commented on that. Also, though what he said was true, just compare the figures to fiat and you will see which is much scarier.

It did not come from YouTube. It came from businessinsider and businessinsider got it from bitcointalk.

Businessinsider link: http://www.businessinsider.com/927-People-Own-Half-Of-The-Bitcoins/articleshow/27194885.cms

Bitcointalk link: https://bitcointalk.org/index.php?topic=316297.0

[leex1528]

I don't understand how they are getting those numbers?  It is a youtube comment so I am guessing it is probably fake.  I thought one of the greatest things with Bitcoin is you have no idea who is at the end of the wallet?

It came from youtube, so I don't think I would really take what that user commented on that. Also, though what he said was true, just compare the figures to fiat and you will see which is much scarier.

It did not come from YouTube. It came from businessinsider and businessinsider got it from bitcointalk.

Businessinsider link: http://www.businessinsider.com/927-People-Own-Half-Of-The-Bitcoins/articleshow/27194885.cms

Bitcointalk link: https://bitcointalk.org/index.php?topic=316297.0

Even so, if it is from a reliable source how on earth are we supposed to believe it?  Where do they get the numbers from this?  How can they tell who owns what wallet?  I highly doubt this is true, and even if it is, its just like the american currency is now anyway, as far as numbers go

[Amph]

funny because it was mean to be like that, even satoshi would agree, there is the need to have few people holding more at the beginning, therefore many other can buy, and increase the price due to a strong demand

if everybody was starting with the same amount of btc, there will be less demand and just holding, the price would remain stuck there forever

[Glucose]

most of the 47 top addresses are exchanges, who manage thousands of users.

Well, we all have to admit : it's well known a few early adopters control an important part of the bitcoins. But what you say is really an important fact to remember.

One can't just consider 1 address = 1 individual. It would be really absurd.

But you also have to remember that the bitcoin network is still young. Wealth will have a better repartition in a few years...

[Mickeyb]

Even if this was true, there was really Jo other way around to start a decentralized project like Bitcoin. In the beginning, there was only a handful of people that owned bitcoins. Satoshi, Hal, and the rest of few. So in the beginning, the distribution was worse ever. But it gets better as time is passing. I mean it's better today than 2 years ago when I got into Bitcoin and it will be better in two years than it was today if we continue with mass adoption.

Really nothing to worry about even if this data is true.

[Btcforall]

it is quite possible.Few people may have lots of bitcoin remember bitcoin is not earned but it can be produced and early miners had lot of advantage.They might be holding lot of bitcoin

[Bitcoininspace]

I was watching this video : https://www.youtube.com/watch?v=T_hBhymFfm8 then was checking the comments and I found this :




I'd like to hear from you and what do you think about this comment ? is he right or wrong (on the last part )?

Even if he is right, this is the start of bitcoin.

Do you think all those people are going to hold onto their coins?

Who says 10% won't sell at 500$, 20% will sell at 800$, 30% will sell at 1500$, etc etc, maybe keep some of their coins but most people are looking into profiting from it right now.

With time this will get more and more stable, as we've seen lately with the price.

But never forget that we are still in the very beginning of this new era. Bitcoin will get more distributed with time, I am sure of that.

[xyzzy099]

There will only ever be 21 million bitcoins, and there are over 7 billion people in the world already.

If you own even 1 bitcoin, you already own way more than your 'fair share'...  If you took all the bitcoins that currently exist and divided them among all the people in the world equally, there would only be a little more than 0.002 bitcoins per person.

[Bitcoininspace]

There will only ever be 21 million bitcoins, and there are over 7 billion people in the world already.

If you own even 1 bitcoin, you already own way more than your 'fair share'...  If you took all the bitcoins that currently exist and divided them among all the people in the world equally, there would only be a little more than 0.002 bitcoins per person.

Yeah, I believe in the future bitcoin will be pushed back a couple decimals too. Or the word bit for 100k satoshis will become more popular instead with price rising.

[Hugroll]

i think hes more than right on the missing bitcoins part,alot of people make posts here about missing bitcoins, but i dont think hes right about the wealth dispersion part,he has no references,he doesnt tell us where he got that info from. How do we know if its credible or not

[gentlemand]

i think hes more than right on the missing bitcoins part,alot of people make posts here about missing bitcoins, but i dont think hes right about the wealth dispersion part,he has no references,he doesnt tell us where he got that info from. How do we know if its credible or not

There's no way of verifying it but I don't think there's much doubt that distribution is insanely skewed. There are enough heavy hitters who've admitted to enormous holdings. The question is, is that actually a problem?