jonald_fyookball
Legendary
 Offline
Activity: 1302
Merit: 1004
Core dev leaves me neg feedback #abuse #political
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June 25, 2016, 11:43:56 PM |
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you can't expect anyone to take your offer for reasons that should be obvious so I assume its a joke. |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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The Sceptical Chymist
Legendary
Offline
Activity: 3332
Merit: 6826
Cashback 15%
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June 25, 2016, 11:50:18 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
First there are limited money transfers. Without notice 15Keuro limit. So this would slowdown the process you are talking about, significantly. Second, exchanger would probably suspend huge account, under suspicion, big movement, big risk of fraud or account takeover etc. Yeah, but a big buyer could do it over multiple exchanges and could take his time about it. I've kind of wondered the same thing myself--what would happen if Warren Buffett got interested in bitcoin, or any of the many billionaires that populate the earth. They could easily buy up a majority of available coins without batting an eye. Not sure why except to corner the market, but it is possible. Don't think it's going to happen though. |
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CASINO & SPORTSBOOK
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btcusury (OP)
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June 29, 2016, 12:44:23 PM |
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Seems a stupid scenario, how realistic is it to discuss 'one large player buying up most coins'. It'd have to be a sovereign wealth Sheikh or something to afford that.
Seems dumb to even think of it as a possibility, will never happen. You'd have to have the surname Rothschild. Pretty sure the exact scenario described by the Op has happened, drove BTC all the way to the $780 top, then dumped big time to $555. But then didn't buy up again. After enough such cycles, he would've left the price skyrocketed and liquidity low after panic sells. The point would obviously not be to profit numerically, but rather systemically, i.e. to destroy what is perceived as the largest threat. |
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escrowboy
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June 29, 2016, 01:47:00 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment. |
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Supercrypt
Legendary
Offline
Activity: 1554
Merit: 1054
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June 29, 2016, 05:18:02 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment. But the fact right now is that most of the supply of coins is widely scattered and it would be very costly to try to even buy all of them at once. At the very least, it may not even be profitable to do such an act because it's very risky like when a big whale is hoarding all coins and then a sudden drop of value, he'd surely either be enraged for losing heavily or be traumatized. |
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spazzdla
Legendary
Offline
Activity: 1722
Merit: 1000
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June 29, 2016, 05:28:48 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Pretty sure this is exactly what is happening... |
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socks435
Legendary
Offline
Activity: 2016
Merit: 1030
Privacy is always important
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June 29, 2016, 05:30:28 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment. For now if you are relaying for the price when the price is 700 value why you are not selling bitcoin and i think this is exchangers are wise they are not so greedy the are just exchange their coins to make a profit because they know already what will happen . that autralian who sell his bitcoin when the price level is 700 value above its effect the price and people are panic sell too because of movement of the price and i think not all people notice the the price only traders.. centraliation is not possible because many people are still holding more bitcoins not only china or exchangers.. |
Solving blocks can't be solved without my rigs.
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2legit2
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June 29, 2016, 06:37:15 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
No one can handle it, that's one advantage of bitcoin. It can end up being centralized by big whales and it might crash the bitcoin itself once people knew this thing is happening in bitcoin environment. though i guess its not the thing that would hold big whales from buying tons of bitcoin and then holding it or even selling on bigger prices, i think there are other reasons maybe whales who already have money are afraid that bitcoin price will be dumped in the future so they better not hold their coins in order not to lose money from the price dumps |
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btcusury (OP)
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June 30, 2016, 02:18:27 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Pretty sure this is exactly what is happening... What makes you believe that? |
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Red-Apple
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June 30, 2016, 03:14:13 PM |
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this can only happen in altcoins markets because they are pretty small and a "large player" there can mean a very smaller amount of money to change things to your advantage. but with bitcoin you will need a very large amount of money which then would not exist in one place and even if it is possible then it would be stupid to buy bitcoin with all of it just to control things. Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
Pretty sure this is exactly what is happening... What makes you believe that? the tinfoil hat that he is wearing told him so  |
--signature space for rent; sent PM--
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Superbitzz
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June 30, 2016, 03:58:28 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
First there are limited money transfers. Without notice 15Keuro limit. So this would slowdown the process you are talking about, significantly. Second, exchanger would probably suspend huge account, under suspicion, big movement, big risk of fraud or account takeover etc. Yeah, but a big buyer could do it over multiple exchanges and could take his time about it. I've kind of wondered the same thing myself--what would happen if Warren Buffett got interested in bitcoin, or any of the many billionaires that populate the earth. They could easily buy up a majority of available coins without batting an eye. Not sure why except to corner the market, but it is possible. Don't think it's going to happen though. If that really happen, bitcoiner, trader and bitcoin investor would be very happy. But, i'm sure bitcoin price will be unstable because some people will dump massive amount of bitcoin while the other got hyped and buy bitcoin. That's a way to increase bitcoin price without mass adoption. no i dont think so. i am confident that the price will not fall down and the prices will remain stable. i think people are now understndind the importance of bitcoin therefore they will not create panic while selling the bitcion at the same time. |
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Blinken
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June 30, 2016, 04:16:53 PM |
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People demanding increasingly high prices once they realize somebody is "buying up most coins"? You are obviously not an economist, are you?  |
Bitcoin ♦♦♦ Trust in Mathematics, Not Bankers ♦♦♦
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Tantlizbat
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June 30, 2016, 04:21:20 PM |
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For the larger players, they want to use bitcoin, not just a tool for speculation. So the transaction confirmation is important to them.
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btcusury (OP)
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June 30, 2016, 04:56:36 PM |
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this can only happen in altcoins markets because they are pretty small and a "large player" there can mean a very smaller amount of money to change things to your advantage.
but with bitcoin you will need a very large amount of money which then would not exist in one place and even if it is possible then it would be stupid to buy bitcoin with all of it just to control things. It wouldn't be "just to control things"; it would be to "not lose control over things". |
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Jannn
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June 30, 2016, 05:06:39 PM |
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This is the same with anything valuable: a rich person can buy a lot and raise the price.
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Kprawn
Legendary
Offline
Activity: 1904
Merit: 1073
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June 30, 2016, 05:15:12 PM |
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Well at the rate some of these reserve banks are printing "toilet paper" money, it could just be likely that enough fiat will be available to try things like this. Only problem is, the more they print, the less
it's worth on the open market.
...and yet bitcoin is only worth half as much US toilet paper as it was at its peak. How is this possible?  How are we missing each other on this point? On this date 1 bitcoin is worth $672 US. I hope you not referring to the total dollars in circulation, because that would only make this worst. The amount of money in circulation has nothing to do with this... well a little bit, because it shows us how worthless is has become. Bitcoin has also been the best performing currency for the last couple of years.. the rest of them are just losing value all the time.  |
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Hugroll
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June 30, 2016, 05:19:10 PM |
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Say an interested party has 10 times Bitcoin's market cap to spend. He buys up the entire order book on the largest exchanges. Once he holds a significant percentage of all bitcoins, he waits for some kind of negative news, then dumps, causing panic sells, which he buys up at the bottom. He repeats this pattern until he owns as many bitcoins as HODLers allow.
How would this affect adoption and confidence in the market? Is there anything that would or could prevent this from happening, aside from the amount of fiat money required?
well then he would spend trillions to destroy a currency, which no one would ever do. if you are that rich, you should be smart if to know that spending that much money to take out a currency is useless. |
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SolomonRising
Full Member
Offline
Activity: 170
Merit: 105
The Truth illuminates the eyes of the heart!
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July 26, 2016, 11:10:28 AM |
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Lack of liquidity and HODLers.
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The fear of the LORD is the beginning of wisdom: and the knowledge of the Holy One is understanding.
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