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megynacuna
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September 17, 2017, 08:58:50 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.
I totally agree, there are a lot of billionaire businessmen out there who can buy the entire market with their billions but it wouldn't be a wise investment to them and so I doubt if they will go for it except manipulating the value to their advantage. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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naidray
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Activity: 1232
Merit: 1029
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September 22, 2017, 04:12:08 PM |
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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.
I totally agree, there are a lot of billionaire businessmen out there who can buy the entire market with their billions but it wouldn't be a wise investment to them and so I doubt if they will go for it except manipulating the value to their advantage. No I am not agree with this statement. Because bitcoin is not a tangible thing and one cannot hold all of it. I think all the people who already invested in bitcoin are businessmen, because bitcoin is also a digital coin online business and the investors small or big are making money through investment and trading. And if the businessman tries to take over bitcoin, the people will withdraw their investment. |
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mrcash02
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September 22, 2017, 04:17:38 PM |
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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.
I totally agree, there are a lot of billionaire businessmen out there who can buy the entire market with their billions but it wouldn't be a wise investment to them and so I doubt if they will go for it except manipulating the value to their advantage. I think if these very rich people buy all the Bitcoins they would rise the price to the stars for sometime, but when people start seeing it's all controlled by a group of people they would lose interest on the currency and would migrate to another Crypto-Currency. So Bitcoin would be worthless... Probably the price would fall hard right after and these rich people would have done a bad deal. |
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bamboylee
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September 22, 2017, 04:20:56 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.
What would they gain if they own most of the bitcoins? Bitcoin market would probably collapse if they do that so their investment is lost. If they want to control the price, aren't the whales are doing that already? In my opinion, they CAN form a group and buy most of the bitcoin but they WILL not do it. |
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Vatimins
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Blue0x.com
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September 22, 2017, 05:14:45 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.
Aint gonna happen pal. No rich guy in the right state of mind would put all his money to buy bitcoins. Even 50%. Because at the end of the day, bitcoin is still unsure. And if the price drops, even just a couple of bucks, they would lose millions. But if that thing really happens, then that could be a possibility. But still, i really think it is too far from reality(this thing you are talking about). |
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xFiber
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September 22, 2017, 05:18:09 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. I agree, for them it would be a completely useless investment. Because prices would pump so high that no one will be able to afford bitcoin and therefore the supply/demand (this drives the market) will be unbalanced. So investment wise it's not worth it for them. |
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Sweetbtc
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September 23, 2017, 09:53:17 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.
I think they can once they invested the billions of dollars of their money because it really takes lot of money to have it and control it. But I think it is hard to happen. No single person and not even group of people can buy 16 million bitcoins in circulation. |
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teejayrichard2
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November 09, 2017, 02:46:19 PM |
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This is a funny question. Well I don't think its possible. Can't just wake up one morning and decide to buy all bitcoins. That's a very daring thing to do you know.
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Renampun
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November 09, 2017, 03:43:43 PM
Last edit: December 18, 2020, 12:55:56 PM by Renampun |
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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.
surely they will control the price of Bitcoin... and they could have made the Bitcoin price more stable. I hope those rich people will help us get Bitcoin soon to get the legality because they can certainly manage the government a bit. |
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Kizaki
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CryptoTalk.Org - Get Paid for every Post!
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November 09, 2017, 03:49:56 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.
It will raise the price of bitcoin significantly. Well, only if they do did it. Buying tons of bitcoin requires a lot of capital. Imagine buying millions of bitcoin would take you. It would take over billions of USD meaning you have to spend and invest a big sum of your money to bitcoin. Even if you are the top billionaires in the world, I think there's no one who would take the risk that big just trying to control its price. Well, it will be certainly good if they can as most of bitcoin holders get a bunch of profits but who'll buy 1 bitcoin if that happens. They'll just buy just fractions of it based on the money they want and they can right? That's why bitcoin is good and is for everyone. |
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Jaya912
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November 13, 2017, 10:43:40 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.
Yes. Need much money to buy around 16.000.000 bitcoin in the market. But if they can buy most of them, they can manipulate the price and its not good news. |
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aizadelacruz99
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November 13, 2017, 12:19:12 PM |
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I dont think so, because there so many business man and they engaged in any businesses.
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cyruh203
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BitSong is a decentralized music streaming platfor
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November 19, 2017, 12:49:05 AM |
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i think businessman or even business assosiation will not engaged on putting thier money into it., bitcoin price is not stable and if the price controlled by one person thier is the possibility that lot of bitcoin will quit.
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hackzang12
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November 19, 2017, 01:02:25 AM |
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Manipulation on its finest, I think they can manipulate bitcoin if they bought several bitcoin before.. then they can do this, but for sure they are holding it for a long-term and helping the economy.
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Indrawan77
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November 19, 2017, 01:08:17 AM |
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Yes they could, but bitcoin users already a lot so it will difficult for them to get the total control, and they need to balance their domination because when they monopoly too much then people will find other coin, and causing the price will be very unpredictable, usually whales prefer alt coin, it is easier to control it
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Omega Weapon
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November 19, 2017, 02:27:33 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.
If they try that then the price of bitcoin is going to skyrocket and each bitcoin they buy is going to become more and more expensive, if it is up to me I will not care if they tried since that will mean the price of bitcoin will go up exponentially and then we could all become millionaires and as long as you invest that money wisely your future is going to be secured, but I doubt they are going to try buy bitcoin in that way since they are going to lose money if they tried that strategy. |
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Dailyroberts
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November 19, 2017, 02:31:06 AM |
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Yes they could, but bitcoin users already a lot so it will difficult for them to get the total control, and they need to balance their domination because when they monopoly too much then people will find other coin, and causing the price will be very unpredictable, usually whales prefer alt coin, it is easier to control it
They can't simply do this because while buying tons of bitcoin, the price will keep increasing like crazy and it will be high so that they won't afford to buy more. And the total expense for such action would be around $200-400 billion dollars or more for 50% of the bitcoins. |
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MMysterious
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Bear season or just the beginning
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November 19, 2017, 02:40:29 AM |
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Yes they could, but bitcoin users already a lot so it will difficult for them to get the total control, and they need to balance their domination because when they monopoly too much then people will find other coin, and causing the price will be very unpredictable, usually whales prefer alt coin, it is easier to control it
They can't simply do this because while buying tons of bitcoin, the price will keep increasing like crazy and it will be high so that they won't afford to buy more. And the total expense for such action would be around $200-400 billion dollars or more for 50% of the bitcoins. That would be great then isn't? It will make bitcoin increase at higher pace and all holders will benefit. Believe it or not, most people owning lots of bitcoins are also rich people and sometimes they're also the reasons on some pump and dumps. We small holders will just ride the wave. Let us just be smart enough. |
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aboy24
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November 19, 2017, 03:16:29 AM |
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No one can handle the market of bitcoins, bitcoins is no government and nothing tax bitcoins grow fast and learn.
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Omega Weapon
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November 24, 2017, 01:56:38 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.
I totally agree, there are a lot of billionaire businessmen out there who can buy the entire market with their billions but it wouldn't be a wise investment to them and so I doubt if they will go for it except manipulating the value to their advantage. They could do so, but are they going to do it, of course not, they understand how the markets works, if they invested a huge sum of money in bitcoin the price will skyrocket and they will need to pay an higher price for each new coin they want to buy, so if someone rich is stocking bitcoin it is likely doing it in secret and using different business to do it in order to not bring attention to himself. |
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