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senne (OP)
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September 16, 2017, 05:37:37 AM |
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What if all the rich people come together and buy most of the BITCOINS can this lead to the control of power again in the hands of few.
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dunfida
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September 16, 2017, 03:52:34 PM |
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What if all the rich people come together and buy most of the BITCOINS can this lead to the control of power again in the hands of few.
If they do have the money to buy on,why not? They can manipulate price on that one and could affect the price easily but not totally the owner of bitcoin.No one owns bitcoin but as an investor you would able to give effects but thinking off to be a Big investor on bitcoin you would need billions of money in order to be considered as a whale for sure  |
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Glory90
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September 16, 2017, 04:19:05 PM |
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I think control of power can happen, if they can afford to buy most of the bitcoin. however, it takes a lot of capital to buy most of the bitcoins at current prices  I like it if they want to start at this time because there will be a pump if they start it  |
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lkjhg
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Join On COMBO
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September 16, 2017, 04:27:52 PM |
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it would be helpful if entrepreneurs take part in the bitcoin business, how the big impact on investment will progress and in the success of ICO, when entrepreneurs invest in ICO progress automatically we as well as bitcoin seekers will prosper.
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chesegrinder
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September 16, 2017, 04:34:16 PM |
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well if rich people wil unite and buy tons of bitcoin it will rise the price but the in my opinion thats will be the cause of new bubble as we people who cant afford to buy even a satoshi will shift to other crypto and rich people will e holding a worthless things like what happen in tulip bulb during 1600 ... when it happen bitcoin will lose it pride and worth....
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deejhay
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for future
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September 16, 2017, 04:35:03 PM |
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They certainly could and when they do, they can control the price of bitcoin to their advantage. But people can easily move on so when another crypto offer the same but with the advantage to many, they can easily switch crypto so i dont think richest people would do that.
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Yakamoto
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September 16, 2017, 04:37:07 PM |
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What if all the rich people come together and buy most of the BITCOINS can this lead to the control of power again in the hands of few.
They could, but there is a high chance that they would manage to destroy their investment if they tried to buy up all of it because they would severely limit the supply (and thus demand) if they only bought and did nothing with it. If you can't use it, why own it? It would also cost tens of billions of dollars to buy up most pieces of Bitcoin, and that's something that only a few groups of people in the world have and would likely not have an interest in buying most of Bitcoin. There would be more money in investing in Bitcoin, strategically. |
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Lazada
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September 16, 2017, 04:43:21 PM |
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What if all the rich people come together and buy most of the BITCOINS can this lead to the control of power again in the hands of few.
I would love to see them try. As they attempt to buy up all the Bitcoins the price would skyrocket. Assuming they are successful we can all just move over to a different crypto abandon Bitcoin and leave them holding a worthless bag. Rinse. Repeat. That is a good thought. When some people alone have large amounts of bitcoin then other coin prices will also automatically increase. It could be eth and bch to be an alternative. But I'm not quite sure this will happen because as we know that bitcoin is owned by everyone !! |
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leonair
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★Bitvest.io★ Play Plinko or Invest!
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September 16, 2017, 06:20:29 PM |
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What if all the rich people come together and buy most of the BITCOINS can this lead to the control of power again in the hands of few.
If that thing will really happens then let them be as if they will do it in an instant, if big time businessman of each countries in the world buys bitcoin the price of it will go high of course but if they are all in, there must be some to still buy it to grow the price if not it will be stable or else if there is no way to go it will fall down. Just a matter of time though, maybe the can control the price of Bitcoin by their investment but it is too risky also for them. |
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phr0stbyt3
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September 16, 2017, 07:55:28 PM |
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Let them do it who cares a single billionaire can't do anything to the price because no billionaire would put all his funds in bitcoin because at end it still has many risks involved if the price falls by 100$ they will get losses in millions only the government can now control the price as we saw in the case of china now a single person can't make any difference
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iL_P4driNo
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September 16, 2017, 10:18:46 PM |
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If they can afford buying all bitcoins, sure they will control the market.
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Prince8
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September 16, 2017, 10:20:37 PM |
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wont ever happen
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UCHCHILD
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September 16, 2017, 10:27:15 PM |
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Yes, because we cannot control them whether to buy few or more of it. But surely to control the bitcoin he or she really needs lot of money to invest on we cannot just control it by million investment but actually billions of dollars to start controlling the fluctuation.
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BitWhale
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September 16, 2017, 10:30:28 PM
Last edit: September 16, 2017, 10:52:51 PM by BitWhale |
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we already see collusion from the biggest bitcoin businesses in the industry. I'd say we are already half way there. You don't have to own all the bitcoins to own the market, you just need to control the vast majority of the ins & outs of bitcoin in order to exert control over it. We've seen this with the mining industry, exchange industry, bitcoin news industry, moderator positions, etc. It's in a business man's best interest to get as much of the market as possible under their wing, purely for profit reasons. In example, they didn't have to buy up all the gold in order to control the market... we've seen collusion in the spot prices of gold for 50+ years now among international banks, it's called "the fix" and even though it is completely legal, it has been abused countless times. Some of the biggest names in the banking industry recently settled for millions of dollars over manipulation of gold prices... http://heartlandpreciousmetals.com/deutsche-bank-admits-it-rigged-gold-prices-agrees-to-expose-other-manipulators/banks = exchanges, exchanges = banks. It's just a new descriptive word for something we've had for 100s of years now. The one "shining" difference between bitcoin exchanges & banks is exchanges aren't mean to store your money on, just exchange, even though people still use them as storage (aka banks). |
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ajmapalo22
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September 16, 2017, 10:38:33 PM |
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If that's gonna happen I don't think bitcoin market would last because people will lose interest in bitcoin there would probably fixed Price for bitcoin and the market can possibly crashed...no one owns and control bitcoin it is designed to circulate in the market without anyone controlling it not government, banks or any multi millionaire businessman
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FasTroy
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September 16, 2017, 10:54:46 PM |
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What if all the rich people come together and buy most of the BITCOINS can this lead to the control of power again in the hands of few.
I would love to see them try. As they attempt to buy up all the Bitcoins the price would skyrocket. Assuming they are successful we can all just move over to a different crypto abandon Bitcoin and leave them holding a worthless bag. Rinse. Repeat. You are right, There is no problem if they start to buy a millions of bitcoins. we can just move to another cryptocurrency and let them enjoy their bitcoins. I think it will loss his value soon after a lot of peoples are quit it and start to collecting one other coin. |
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DoublerHunter
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September 17, 2017, 12:26:46 AM |
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A businessman can be the owner of the particular bitcoin market is he will decide to build his own bitcoin exchange and that will serve as a bitcoin market and i think that it is easy to do because it just need some programmer to do some awesome stuff with the complicated things like building the website piece by piece and after that then the businessman can finally owned a bitcoin market.
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klf
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September 17, 2017, 01:24:42 AM |
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If that's gonna happen I don't think bitcoin market would last because people will lose interest in bitcoin there would probably fixed Price for bitcoin and the market can possibly crashed...no one owns and control bitcoin it is designed to circulate in the market without anyone controlling it not government, banks or any multi millionaire businessman
Anyone who attempts to buy most of the bitcoins will not take all bitcoins but they can buy more than 50% the bitcoin so that they can control the prices. They also know that if they buy all bitcoins then no use for them so they will not do that mistake. Very big risk involved in buying a single product with a such a huge investment so mostly they will not do that mistake. |
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Hammonds
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September 17, 2017, 01:30:01 AM |
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I would be very happy if they tried it, because it will have a good effect on us because bitcoin prices will skyrocket. This is an advantage for those of us who already have bitcoin, though only slightly.
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leonix007
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September 17, 2017, 08:21:26 AM |
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I guess not, if they will do that today considering the today's pricing its like putting their money at a high risk situation, business people tend to think wisely and will not engaged on a high risk situations, what they could do is to play with it, create FUDS and mouthful ways against bitcoin for their own interests.
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