If u were Warren Buffet would u buy 51% of Bitcoins?

[XCASH]

Warren Buffet couldn't buy 51% of Bitcoins. He may have the money to buy them, but there's not enough sellers to sell him 51%. Satoshi's probably got a million, and he's not selling. There are massive wallets belonging to others that haven't moved coins in years. Either the owners lost the keys or they are keeping them for when they are worth more in the future. Also, there are tens of thousand of small wallets owned by people who put them into cold storage for the future, and they would also refuse to sell.

[hermanhs09]

Warren Buffet couldn't buy 51% of Bitcoins. He may have the money to buy them, but there's not enough sellers to sell him 51%. Satoshi's probably got a million, and he's not selling. There are massive wallets belonging to others that haven't moved coins in years. Either the owners lost the keys or they are keeping them for when they are worth more in the future. Also, there are tens of thousand of small wallets owned by people who put them into cold storage for the future, and they would also refuse to sell.

it look's like you are right,nobody probably would sell him 51% of all bitcoins,
because it is really a lot.
Anyway buying like 10% would be a still insane volume,and insane price to do it,right?

[Hazir]

I want to debunk some strange logical assumption Op presented here. Bitcoin is not some shares or stocks so owning 51% of it won't necessarily gave anyone controlling interest power.
It is not a hash power, you will be just huge whale with 51% of bitcoin owned, sure you probably could crash the market, but why would you do that? To bankrupt yourself?

[~Bitcoin~]

I will buy bitcoin but i am sure even i beleive in bitcoin i will not buy 51% of total bitcoin exist at the current price. This may pump the price so high but if traders find out later that one single person holding half of the supply then we may see large dumps on the fear of large dump from me.  

[hermanhs09]

I want to debunk some strange logical assumption Op presented here. Bitcoin is not some shares or stocks so owning 51% of it won't necessarily gave anyone controlling interest power.
It is not a hash power, you will be just huge whale with 51% of bitcoin owned, sure you probably could crash the market, but why would you do that? To bankrupt yourself?

Of course it wouldn't have any affect on controlling bitcoin.
It would be the same,you would just have 51%.And actually the price would sky rocket if somebody would try buy 51% of bitcoins,right?

[Barnabe]

If someone bought 51% of all bitcoins I would not trust bitcoin. The 51% person could decide overnight to drop bitcoin value by half, I wouldn't want to have to trust someone with this much power.

[DashTron]

Warren Buffet couldn't buy 51% of Bitcoins. He may have the money to buy them, but there's not enough sellers to sell him 51%. Satoshi's probably got a million, and he's not selling. There are massive wallets belonging to others that haven't moved coins in years. Either the owners lost the keys or they are keeping them for when they are worth more in the future. Also, there are tens of thousand of small wallets owned by people who put them into cold storage for the future, and they would also refuse to sell.

it look's like you are right,nobody probably would sell him 51% of all bitcoins,
because it is really a lot.
Anyway buying like 10% would be a still insane volume,and insane price to do it,right?

If the priceis right, I think most of the owners would sell.
So 51% is possible, I think. Theoretically.

[fravia]

i would definitely not buy that much bitcoins because i want bitcoin to exist, if one person would buy that much then all people wouldnt use it as they would be afraid of a big dump i think

[Kprawn]

The volatility in Bitcoin makes a option like this very attractive... you would not be a whale, but the biggest whale in the ocean. Warren Buffet on the other hand would not put all his eggs in one basket,

or a significant part of it.. The 51% is not that significant.. because this is not a business, where you have the controlling interest.. when you own 51% of the shares. It would have been great if a person

like Bill Gates can use his foundation to spread the Bitcoin wealth to a lot of poor people around the world. 

[Warren Buffet]

[Dudeperfect]

Short Answer : Yes

Long Answer : Not all at once. I would go with cost averaging technique which emphasize on investment in a systematic way. Buying all coins at once is as equal as hitting the bullet in dark. As we can see the fact that bitcoin is more fluctuating as compared with other currencies in monetary point of view. With cost averaging method there are heavy chances of securing profits or in worst case scenario avoiding loss even in negative market conditions.

[crairezx20]

If i have money to invest an buy the 51% of bitcoin why not? we know  that the price of bitcoin will increase once bitcoin is in demand so if you buy bitcoin im sure that the price of bitcoin will increase soon.. and some people can buy to gradually while you are buying the 51% of bitcoin.

[Nitroshock]

There's really more than one question here.

If I was Warren Buffet, the answer is easy... no.  He doesn't like Bitcoin and is from a "buy and hold" generation when companies paid good dividends on quarterly profits and banks paid a healthy interest rate on savings.  Buy and hold has always been his claim to fame and Bitcoin now offers none of the "investment" features he's looking for.

If I was AS RICH AS Warren Buffet, the answer is still easy... no.  The only reason I see to buy that many Bitcoins is an attempt to take over the network, in which case you may end up with all the Bitcoins but try finding anyone else who wants them.

People with extra money will most likely seek gold, silver, commodities, and other "safe havens" long before considering Bitcoin.  Unfortunately I'll have to agree with them at least until Bitcoin has some semblance of a stable value and is more widely accepted.  Until then, buying Bitcoin is a huge gamble, not an investment or the protection of wealth that we'd like it to be.

Hope it changes but I still wouldn't kill the network/market even if I had the money to do so.

[blackholes]

If he ever does that , this would be the end for both btc and Buffet. During the buying stage the price would significantly increase and I don't know if his money would be enough. However even if he can pull that through , what would be the use of such a centralized coin? He would have devalued his own money. In my opinion ,no point in doing that.

[xht]

If u would happen to be the Waren Buffet grandfather,

would U try to go and buy all the Bitcoin in existence?

or would that be rather stupid to try?

Would u buy 51% of all Bitcoins?

~CfA~

No i don't do it maybe would prepare to buy many mining hardware than start to mine bitcoin from now at least we still have many time to collect bitcoin as much as we can from now.

[TGD]

If u would happen to be the Waren Buffet grandfather,

would U try to go and buy all the Bitcoin in existence?

or would that be rather stupid to try?

Would u buy 51% of all Bitcoins?

~CfA~

Buying all stocks I don't think any one want to do that, it's hard to know what will happen if they buy it .but I think it's not the right time to buy it, maybe if the price back again to 0.01$ so they don't need much money to buy, but it will not happen again.

[CoinBreader]

No way, i would create some bubbles tho..everyone would be happy !
but then again i think btc for Buffet is pennys..
for those you know, just remember what wolong did with just 10m $

[CraigWrightBTC]

If u would happen to be the Waren Buffet grandfather,

would U try to go and buy all the Bitcoin in existence?

or would that be rather stupid to try?

Would u buy 51% of all Bitcoins?

~CfA~

If i am Warren Buffett i will not buy 51% all of bitcoins because it is new there are not many people who bitcoin as payment method and today price of bitcoin is very high and it is very high risk too for Investment on bitcoin amount 51% of all bitcoins.

[Kakmakr]

If I was Warren Buffet, I would hire a team of developers to create my own <WarrenCoin> and I would tweet, "Buy a WarrenCoin today, to secure your future in Crypto Currencies" He has so many followers and admirers, he might even grow his market cap to be bigger than Bitcoin in no time. ^smile^

This would be his entry and investment into the Crypto currency scene. You have a reputable and well known name for the coin and no reason to be a scam coin. < He already has enough money, and a big reputation in the financial world >

Crypto currencies will be a toy for him to play with. ^smile^

[Carlsen]

Warren buffet is 85 years old.
I'm sure he is one of the best managers and investors there is, but I do not think he is much of a computer tech guy.
I think he is underestimating the potential in bitcoin.
Besides, if I was him, would I buy 51% of the coins?
No, I think that would ruin the worth of those 51% I would posess then.