What happens when the bitcoin-bigplayers sell theire coins?

[anu]

Imagine what happens when 600.000 coins get sold with market execution?!?

Flash crash into the sub $1 range. The moron loses a lot of money and everyone who put an order at below $1 smiles. One hour later, price bounces back as fast as the MtGox trading engine permits. Some time of extreme swings with two weeks to dampen out, during which Bitcoin is completely useless as a medium of exchange.

The only reason someone would do that is to damage Bitcoin, not caring about losing $50 Million.  We can then all make more or less educated guesses about who would be behind it. It can only be commercial payment networks or 3-letter services imho.

[Seal]

I've read that it's not healthy in any economy for someone to hold more than 1% of the market cap. It made sense to me... With more than 1% the ability to control the market is too great.

[chiropteran]

It's a nonsense scenario.  The so-called "big players" have so many bitcoin BECAUSE the have horded and bought up bitcoin since the early days.  The kind of people who foolishly sell all their coin at once for no special reason don't have large piles of bitcoin because once you make an irrational sale as such you don't have any coin left.

Hoarders hoard, miners who are in it for USD profit only sell immediately, some people try to play the market both ways.  But irrationals who would be willing to sell all their coin at once and lose a tremendous amount of value for no real gain have already done so, and lost their bitcoin.  Anyone who has held bitcoin through watching it increase in value 100X to $1, 100X more to $100, and even surge as high as $266 without selling off is clearly disciplined enough to sell in a rational manner.

It's about as likely as every single miner and merchant suddenly deciding to hold all bitcoin and stop selling and cause the price to skyrocket.

[And1]

Nearly half of existing today bitcoins (5 mlns) was released before end of 2011, before bitcoin became known to publicity (as first news was publicly released during first "bubble"). I think 6% in hands of biggest bitcoin players is huge understatement. Imho biggest players are virtualy unable to sell it all, even if they wanted to.

[Komodorpudel]

Okay, thank you guys for the answers...

To sum it up:

1. It's not good for a economy when someone owns more than 1% of its wealth

2. It's unlikley that the 3 biggest bitcoinwallet owners will sell their coins in larger amounts, because they "love" bitcoin.

3. Even if it happens, it would be good, because of the lower price more people jump on the "bitcointrain"

Did i forgot anything?

[meangreen]

last but not least BELIEVE everything you read on the internet

[Komodorpudel]

last but not least BELIEVE everything you read on the internet

Probably the best one

[tom1]

Same for me, I can scoop up some, at the moment everything is so high.

People said that a year ago too

[aceking]

we will buy them cheaply

[naphto]

Currently, only 3 people own almost 6% of all bitcoins( if not, please correct me)

Proof?
Source?
Reference?

[Zangelbert Bingledack]

Okay, thank you guys for the answers...

To sum it up:

1. It's not good for a economy when someone owns more than 1% of its wealth

2. It's unlikley that the 3 biggest bitcoinwallet owners will sell their coins in larger amounts, because they "love" bitcoin.

3. Even if it happens, it would be good, because of the lower price more people jump on the "bitcointrain"

Did i forgot anything?

Now you're just being willfully recalcitrant, ignoring or distorting the explanations given to you. You won't change your mind because you're in love with your original conclusion.

[foggyb]

You are asking the wrong question.

WHY are they selling?

[Komodorpudel]

Currently, only 3 people own almost 6% of all bitcoins( if not, please correct me)

Source?
Reference?
Proof?

http://www.forbes.com/sites/jonmatonis/2012/06/22/the-bitcoin-richest-accumulating-large-balances/

Its a bit old and i haven't found the source i got it from, but it is a good beginning

Okay, thank you guys for the answers...

To sum it up:

1. It's not good for a economy when someone owns more than 1% of its wealth

2. It's unlikley that the 3 biggest bitcoinwallet owners will sell their coins in larger amounts, because they "love" bitcoin.

3. Even if it happens, it would be good, because of the lower price more people jump on the "bitcointrain"

Did i forgot anything?

Now you're just being willfully recalcitrant, ignoring or distorting the explanations given to you. You won't change your mind because you're in love with your original conclusion.

Wtf is wrong with you ? I noticed the explanations and i thought about it.And I also wrote it down to sum it up.....and its still justified to be skeptical about the fact that a few people own a lot.

You are asking the wrong question.

WHY are they selling?

You mean why "should" they selling?

Maybe for the same reason people are selling right now....when you see that you lose millions everyone would get nervous..

[crazy_rabbit]

We will get a wider distribution of coins, which is a good thing.