What happen "if" someone have all of bitcoin?

[hyudien]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

[ganjamancer]

1. It is only possible in theory, however very very unlikely.  All 21 million bitcoins CAN exist on one address, but how they could ever get there is a whole 'nother matter ;-)

2.  He can only control bitcoins that he owns.  The moment he sells some coins to someone else, he no longer controls those coins.

3.  Bitcoin would have little value if only one person could have it.  He would likely exchange it and it would re-circulate.  So, effectively, the answer is "Yes," an exchange could not operate until he sells some of his bitcoin.

Because of point #1, though, amassing ALL of the bitcoin is near impossible.  You would have a better chance of winning the lottery while getting struck by lightning. ;-)

[eternalgloom]

Your English is a bit hard to understand, but I'll try to answer your questions.

It's 100% impossible for one guy to own all Bitcoins in existence, simply because there are a lot of permanantly lost Bitcoins.
In theory it should be possible for one person to buy all remaining Bitcoins in existence (once they're mined), but I really doubt that anything like that would happen, they would have to offer a really high price for them and even if they did, I doubt that 100% of people holding Bitcoin would sell.

[chaser15]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

Then bitcoin trading is non sense now and bitcoin will now be dead (I supposed) if ever all bitcoins will be owned by only one person. Also since there is no trading that is happening, the volume will now be a muted one resulting for bitcoin to become priceless and eventually will turned into a deadcoin.

And no, the guy will not be able to sold all the bitcoins since there will be no exchanges available that accepts bitcoin trades due to the fact that it's volume is now dead. Only P2P transactions will work.

But overall, that is impossible to happen.

[hyudien]

1. It is only possible in theory, however very very unlikely.  All 21 million bitcoins CAN exist on one address, but how they could ever get there is a whole 'nother matter ;-)

2.  He can only control bitcoins that he owns.  The moment he sells some coins to someone else, he no longer controls those coins.

3.  Bitcoin would have little value if only one person could have it.  He would likely exchange it and it would re-circulate.  So, effectively, the answer is "Yes," an exchange could not operate until he sells some of his bitcoin.

Because of point #1, though, amassing ALL of the bitcoin is near impossible.  You would have a better chance of winning the lottery while getting struck by lightning. ;-)

So, what happen for all of us who are using bitcoin for some transaction or trading? Probability is bitcoin can not working fine like ever happen. So, nothing more people interest with bitcoin, isn't it?

[hyudien]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

Then bitcoin trading is non sense now and bitcoin will now be dead (I supposed) if ever all bitcoins will be owned by only one person. Also since there is no trading that is happening, the volume will now be a muted one resulting for bitcoin to become priceless and eventually will turned into a deadcoin.

And no, the guy will not be able to sold all the bitcoins since there will be no exchanges available that accepts bitcoin trades due to the fact that it's volume is now dead. Only P2P transactions will work.

But overall, that is impossible to happen.

Than, Is that guy can control price value of bitcoin in the market? Are people will run from bitcoin and will make another currency or just trading them altcoin with fiat currency or another way?

[basesaw]

of someone got all of the bitcoin in the whole world. and then bitcoin would be worthless, its like just an ordinary item that has no value because you cant sell/buy it like goods in the market. and for that reason it would be just an item which cant be used. but it depends when the demand of bitcoin is high, if that happens that someone would be rich in an instant.

[Gleb Gamow]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

Pray tell, exactly how the fuck did you pass muster so to participate in a sig campaign? Inquiring minds wanna know.

To be fair, here's my question(s):

Anyone like sperm because sperm offer population growth, and some excellence rather than use self-procreation. In my mind i have many question about it.

• Is there some one can get all the sperm for him- or herself?
• If impossible, are that guy or gal can control it?
• Is any sperm exchange will not working until that guy or gal sell some their sperm?

And don't even get me started on controlling the world's corn supply where some advocate, "Nothing goes in where corn comes out!"

[chaser15]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

Then bitcoin trading is non sense now and bitcoin will now be dead (I supposed) if ever all bitcoins will be owned by only one person. Also since there is no trading that is happening, the volume will now be a muted one resulting for bitcoin to become priceless and eventually will turned into a deadcoin.

And no, the guy will not be able to sold all the bitcoins since there will be no exchanges available that accepts bitcoin trades due to the fact that it's volume is now dead. Only P2P transactions will work.

But overall, that is impossible to happen.

Than, Is that guy can control price value of bitcoin in the market? Are people will run from bitcoin and will make another currency or just trading them altcoin with fiat currency or another way?

It depends if after he sold all his coins, he will inject again lots of $$$ in the said exchanges. If he sold it for good then he can't have an overall control of price manipulation. Also once he sold his coins and people stills like the bitcoin hype then the coins will now be distributed. That guy will now just become a part of big hoarder if ever he decided to do the one I mentioned.

But you know this discussion doesn't really make sense since it's impossible to happen.

[Viscore]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

It's crazy, if someone has all the total supply of bitcoin this would not be progressive as we are seeing now, no regular circulation that will happen and no demand as well. Think of that, it's like worthless coin you are holding, and most likely the developer has all the coins that does not click to the investors.

[bettercrypto]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?

It is impossible for a single person to accumulate all of that 21M bitcoin because as we can see there are more than millions that can not be accessed because of the lost private key due to crashed HDD.

• If impossible, are that guy can control it?

If someone is  holding majority of the coin then he can actually manipulate the market.

• Is any exchange will not working until that guy sell some his bitcoin?

Well if assuming the person got all bitcoin, Bitcoin market will not move until this person decided to sell his bitcoin.  But if in case he does not want to sell, exchange will still operate but of course it will not trade the one that is not selling and will trade other cryptocurrency.

[lionheart78]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

It's crazy, if someone has all the total supply of bitcoin this would not be progressive as we are seeing now, no regular circulation that will happen and no demand as well. Think of that, it's like worthless coin you are holding, and most likely the developer has all the coins that does not click to the investors.

Yeah it is a crazy idea.  If only one person holding bitcoin then bitcoin is totally worthless, the reason, there is no active market for it.  Though the person have all the control over the price of that coin, the problem will be the demand, i doubt anyone will be interesting to buy such coin that have no market or will be having to start a market, unless the guy is setting up an inital coin offering to put up a market.  As for the exchange, I think the exchange will go on trading with the possible popular coins and other altcoins.

[RoomBot]

Not a problem, since the sun will burn out first.

[eXpl0sive]

Theoretically it is possible.

But if all Bitcoins is own by one single person, the value will be close to nothing and rest of the world will simply switch to another widely distributed currency. (  Litecoins, anyone?    )

[piloder]

• Is there some one can get 21 million of bitcoin for himself?

Anyone can buy 21 million of bitcoin or total bitcoin than can exist if he can afford to buy them paying whatever price other want to sell at. But he have to wait till all bitcoin get mined first because there is only 16 million bitcoin out there and many of bitcoin have been burned so the exact total number of bitcoin is not 21 million.

[jeraldskie11]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

It is possible to get a 21 bitcoin if that had a big business for bitcoin he will make it.  We don't know if that guy can can control it because bitcoin has a limit and the limit 21 million of bitcoins.
Imagine  that the guy has 21 millions of bitcoin surely the exchange will not working cause he had it all.

[Yakamoto]

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

No supply = no demand

No demand = no users

No users = worthless investment.

Having all 21m Bitcoins is one of the absolute worst things that can happen to anyone, because it means they become worthless incredibly quickly and there will be no point for a majority of people to use them.

While short-term benefits are good and it means they'll have high investment value for a short time, it peters off pretty quickly afterwards.

[avikz]

If someone have all the bitcoin in the world, then bitcoin will be a failed currency. Why people will invest in such a currency which they can't get hold off? So no investment will be flowing to bitcoin and the price will go to the lowest level.

People will only invest in such currencies where they can make profit. So if only one person holds all the bitcoin, then bitcoin and Valorbit will have the same value and no one will want to buy.

[electronicash]

its possible but that guy will have $14,326,766,297 in his wallet! that means even satoshi's wallet was compromised. 14Billion USD is no joke, he can actually buy our country and have us all as slaves.

Anyone like bitcoin because bitcoin offer transparency in transactions, and some excellence rather than use currency transactions. In my mind i have many question about it.

• Is there some one can get 21 million of bitcoin for himself?
• If impossible, are that guy can control it?
• Is any exchange will not working until that guy sell some his bitcoin?

No supply = no demand

No demand = no users

No users = worthless investment.

Having all 21m Bitcoins is one of the absolute worst things that can happen to anyone, because it means they become worthless incredibly quickly and there will be no point for a majority of people to use them.

While short-term benefits are good and it means they'll have high investment value for a short time, it peters off pretty quickly afterwards.

he'd be paying his slaves with btc. that should create back the demand.

[tippytoes]

Pray tell, exactly how the fuck did you pass muster so to participate in a sig campaign? Inquiring minds wanna know.

To be fair, here's my question(s):

Anyone like sperm because sperm offer population growth, and some excellence rather than use self-procreation. In my mind i have many question about it.

• Is there some one can get all the sperm for him- or herself?
• If impossible, are that guy or gal can control it?
• Is any sperm exchange will not working until that guy or gal sell some their sperm?

And don't even get me started on controlling the world's corn supply where some advocate, "Nothing goes in where corn comes out!"

@Gleb Gamow, i like how you articulate your response to these queries of hyudien.   at least you still put your effort commenting on this topic though his questions are....b*ld*rd**h...
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