f some one is dominating over the distributed system, isn't it something l can put that he/orshe owns the market and can shut it down without any other effort then money? And if the system is technically cannot be shut down by the government it can be shut down by a couple of rich individuals and then it makes no sense to participate the system where major share of the currency is frozen and even though people are willing to sell something in most cases nobody can buy it because there is no money available?
Is not it considered unsafe for the market?"
What he said
There are currently about 9 million bitcoins in existence today, and the current exchange rate is about $5 per bitcoin. So someone could just buy all the bitcoins in existence for around $45 million, right? Wrong! First of all, not all of the bitcoins in existence are for sale
on the markets. If you offered to buy everyone's bitcoins for $5 each, you'd only end up with a tiny fraction of the bitcoins in circulation, because most people just aren't interested in selling their bitcoins. At least not for $5. If you want to buy more bitcoins, you'll need to offer a higher price to convince the more stubborn sellers to part with their precious coins. So the more you want to buy, the higher the price becomes
. Looking at it another way, if someone buys some bitcoins, the bitcoins still in circulation become rarer (because there are less of them) and therefore more valuable. That's just supply and demand. There's just no way anyone could buy all
The other thing to keep in mind is that bitcoins can be divided into as small units as you like. Even if you own the very last bitcoin on the planet (the other bitcoins having been bought by an insane trillionaire with apparently nothing better to do with his money than to try to collapse an economy), and that single remaining bitcoin is worth (say) a billion dollars (but you're
not going to sell it to that evil trillionaire, oh no, not even for a billion dollars), you'll still be able to buy a burrito for 0.00000001 bitcoins, no problem (if for no other reason than that the seller does
want to sell his small piece of the billion-dollar bitcoin).
One last thing: not all of the bitcoins that are going
to exist, exist yet. Even if someone did
manage to buy all
the bitcoins currently in existence, new bitcoins are constantly being mined, and miners are under no obligation to sell their coins, for any price.