UPDATE

[iv4n]

So basicly this guys now have power to move market as they like. And we are in their hands, what they decide we just can follow this wale's. Yes I thin its danger when power is in just one man possession, this is open market people with money have much more possibilities then other, but is there a way for things not to be like that? Some solution and defense from this kind of things ?

[1714903965]

1714903965

[1714903965]

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[MaxTax]

So basicly this guys now have power to move market as they like. And we are in their hands, what they decide we just can follow this wale's. Yes I thin its danger when power is in just one man possession, this is open market people with money have much more possibilities then other, but is there a way for things not to be like that? Some solution and defense from this kind of things ?

How would you feel if all the bitcoins we in the hands of corporate companies? All they want is to make profits of off other people by not doing anything.

I believe that if it was in the hands of 1 single person or a small group of people, they wouldn't do what the corporate companies do. They know for themselves what bitcoin means to people like them.

[spidergoat]

Manipulation is possible yes but unlikely. Satoshi haven't moved any of the coins which could show that he may have forgotten the private keys. Bitcoin lost isn't an issue to the supply, it can be divided further than satoshis if there is even a need to.

[Falmant]

It is a good point that several bitcoiners are putting aside, because it seems contradictory that this currency, designed to face the current manipulation and speculation of market, is hold massively for few pioneers.  Of course it is not a good deal!

The bitcoin owned by satoshi will be spent eventually. So are the other coins owned by very few people. They should be rewarded for their risk taking.

[Gaswuwade]

Manipulation is possible yes but unlikely. Satoshi haven't moved any of the coins which could show that he may have forgotten the private keys. Bitcoin lost isn't an issue to the supply, it can be divided further than satoshis if there is even a need to.

Lost bitcoin is a problem at the moment as the value was so long a few years ago. When the value of bitcoin rises in the future, people will not forget it.

[mouneshwar123]

If more and more people keep holding of Bitcoins then it will lead to downfall of bitcoin (Price won't go up as expected) ,the more number of transactions ,more the value of BTC is.

[Snail2]

Lost BTC isn't really an issue, it's gone and most likely never going to be recovered. Stolen BTC could be and will be a problem. Large holders are a question indeed, but if prices go up these whales are unlikely to dump their stash in one go. If they sell then more likely they will sell it in a dark pool to a corporate player or to another whale.

[Arcteryx]

I know that after MT GOX problem, a lot of BTC has been lost... And i think some kind of milions have been lost!

What about Cryptsy? Forgot about them 

[Decoded]

Firstly, it's million, not million.

Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.

Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.

[Falmant]

The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.

Even if they all sell, the price will dip briefly. Even if the price dip period is one or two years, it is still short in long term.

[Gaswuwade]

The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.

Even if they all sell, the price will dip briefly. Even if the price dip period is one or two years, it is still short in long term.

The price dropped from $1200 in 2013 to $380 in 2016. That is just 3 years. If bitcoin exists for 100 years, 3 years is just very short term.

[Betwrong]

Lost BTC isn't really an issue, it's gone and most likely never going to be recovered. Stolen BTC could be and will be a problem. Large holders are a question indeed, but if prices go up these whales are unlikely to dump their stash in one go. If they sell then more likely they will sell it in a dark pool to a corporate player or to another whale.

Exactly, the large holders are most likely not going to sell big portions of their stash at once because they know that the consequence of such a dump will the decreasing of the Bitcoin price. This is not what they want for sure.

[Laosai]

Firstly, it's million, not million.

Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.

Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.

I agree. It's not really the amount which is important!
The fact is that you feel like you can't trust your exchange plateform and the site to use!
It's just the fear of being stolen which is dangerous for btc

[arbitrage]

I would rather have a million of bitcoins in the hand of a few people rather than corporate companies. I believe that those few people will keep working on bitcoin and not only keep the profits to themselves but wanting to help bitcoin grow and make it a success.

As i understood there are lots of people from banking system were involved in buying
cheap bitcoins. This is reality, Bitcoin is better than paper money and it is decentralised,
 but we will still have rich and poor!

[plost24]

maybe the price of bitcoin today is because there is million btc in hand of few people so there is no danger bitcoin will be safe so collect your own bitcoin

[Anddos]

You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.

[coinyard]

maybe the price of bitcoin today is because there is million btc in hand of few people so there is no danger bitcoin will be safe so collect your own bitcoin

We still have more bitcoin to be minted in the future. So if ordinary people buy 0.01 bitcoin each, the total amount (percentage terms) owned by few people are smaller.

[Betwrong]

You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.

200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.

[Anddos]

You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.

200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.

Maybe just a bit but not enough to be significant. There are millions of bitcoins on the digital market at the moment so it really wouldn't pose that great of a threat.

[AliceWonderMiscreations]

i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich

This is where bitcoin is better.

Fiat currencies have intentional inflation in order to encourage spending and debt, but spending and debt is harmful to the poor - it takes from them and gives to the rich.

Unless you are wealthy, you can't afford the investments that beat inflation. So any money the poor do try to save ends up losing spending power.

Bitcoin is the opposite. If you are poor, you can save with bitcoin and you don't lose spending power. In fact your spending power of what you save increases as coins get lost.

An economy where the poor can save without losing spending power of what they save can help close the income gap.