What would happen if a group/person bought all the bitcoin in circulation.

[Snail2]

Most bitcoins are not on the exchanges. If someone would start buying such huge amounts the prices would skyrocket very quickly, so that 500 would be 5000 in hours and the miners would hold most of their coins in hopes of making it even more scarce therefore more expensive. Many holders would keep holding because of the same reasons. Such attempt would spiral out of control in days.

[ThunderThomas]

Well if they want to buy all the bitcoins of the world I would say that my bitcoins are worth 10.000 dollars each.
If they want to buy it. I doubt that they will agree. If they agree fine with me with that I have made a lot of profit with it.
Also where the hell will this group of people will store all the bitcoins in the world.

[bitmarket.net]

Hello. I was just thinking: what would happen if someone or a group of people such as Bill Gates, decided to purchased all the bitcoin in circulation, or a majority of it anyway.

They could purchase it for $500 per Bitcoin.
Then, due to the hightened demand and lack of any other way of getting bitcoin, they could be sold on for more than $1000. Making a $500/unit increase.

The price changes are much more dynamic.
The price of bitcoin would not remain at $500 once this big player starts buying - it will start to increase straight away.

Similary, the price will start to decrease once he stops buying and decrease even quicker, once he starts selling.

[fravia]

it most definitely wouldnt be a good thing in my opinion as this would prevent the countries from making it official currencies and companies accepting the payments in bitcoins if one person had the most of all mined bitcoins it would mean that he could dump the price at any time and people would be afraid of that

[CryptoUser25]

I don't think people would just buy all the bitcoins of the world. What for price would happen to bitcoin that.
I think it would be worthless at the end if no one else is using it.

[Amph]

Hello. I was just thinking: what would happen if someone or a group of people such as Bill Gates, decided to purchased all the bitcoin in circulation, or a majority of it anyway.

They could purchase it for $500 per Bitcoin.
Then, due to the hightened demand and lack of any other way of getting bitcoin, they could be sold on for more than $1000. Making a $500/unit increase.

The price changes are much more dynamic.
The price of bitcoin would not remain at $500 once this big player starts buying - it will start to increase straight away.

Similary, the price will start to decrease once he stops buying and decrease even quicker, once he starts selling.

this mean that they would sell at loss, because someone else will ride their wave and dump before them, so this whole strategy to buy a lot of coins in a short amount of time is stupid

no group or single person will do it