One thousand people control 40% of Bitcoin

[Walrus1]

https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control

[DIEGOLNEO]

Well, after several scams applied by the Exchanges in recent days, I saw in Deep Web that several Hackers are wanting to launch an attack on the entire bitcoin network. They're calling it DarkBitcoin; a viceroy that has pigeonholed to destroy mining stations altogether.

[Prem.Soorajpaul]

It seems true.Now a days, bitcoin is not easily available in market. It is not good for bitcoin. It can shift the interest of people to other currency as it is out of reach for normal people.

[Walrus1]

Shit, not hard to beleive that would really crash the value you would think or I would think

[stompix]

https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control

Assumptions....
It can be both up by a lot and down by a lot.

They've based their research on this:
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Which is stupid.

First it is possible that all the addresses are controlled by ten guys.
Second, those that own the top 1000 can easily own a few hundred thousand bitcoins split in addresses smaller than 1 BTC
And third, some wallets belongs to exchanges, most of them are cold wallets which are actually the funds people deposited there.

And I should add the last one..
You can't really be sure the owner still has access to them
I forgot what was with those addresses that have exactly 10k btc in them

[hahahafr]

That is right, no one is able to know if they are still active or not, the only way that we can "guess" if a walletis active is just by seeing the last transaction on it, but maybe they are just holding those coins for years or decades, so it is impossible to know that.

And I should add the last one..
You can't really be sure the owner still has access to them

And this article was posted on bloomberg, everything that they have been saying about bitcoin lately is a lie, so dont believe in those guys, they are 100% against bitcoin, i know that.

Do you really think that bitcoin is controlled just by a few people? it is impossible

[angaper]

I do not see the relevance of that news. Many people were able to accumulate a large amount of bitcoins when nobody believed in this currency, but a few visionaries invested some capital to support the development of this technology. If they bet their money on something that seemed to have no future, and managed to accumulate thousands of bitcoins, they deserve the wealth they enjoy today.

Moreover, this is not too different from the distribution of wealth in the real world.

[Walrus1]

That is right, no one is able to know if they are still active or not, the only way that we can "guess" if a walletis active is just by seeing the last transaction on it, but maybe they are just holding those coins for years or decades, so it is impossible to know that.

And I should add the last one..
You can't really be sure the owner still has access to them

And this article was posted on bloomberg, everything that they have been saying about bitcoin lately is a lie, so dont believe in those guys, they are 100% against bitcoin, i know that.

Do you really think that bitcoin is controlled just by a few people? it is impossible

true but it isn't hard to beleive

[Hydrogen]

These articles tend to be more political than informative.

They provide no information on how many people or entities control the remaining 60% of bitcoin.

In a 60/40 breakdown, it is the 60% which provides the controlling interest. If that block is decently distributed and controlled "by the people" it might be said that bitcoin represents a currency of the people. Hope is far from lost, here. Focusing solely on the 40% which might constitute a somewhat centralized paradigm could be considered agenda based political spin.

It is very interesting how a currency designed to be decentralized can have many centralized elements creep in. If people wonder about the next evolution of crypto or what the future holds, designing a currency which maintains an intrinsic decentralized nature better in terms of limiting centralization of miners or holders could be the quantum leap in improving crypto technology everyone is searching for.

[rodel caling]

https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control

i'm not scary about this news you share 40 percent poeople control the bitcoin as decentralized blockchain i think 60 to 70 percent people controling bitcoin thats an scray scenario's because already a majority number than the normal bitcoin user.

[Mjeramirez]

I think they are the pioneers bitcoin, they invested from the start and now they are reaping the results of their investment. However, I dont think 1,000 people controls the  40% of bitcoin, remember that bitcoin is a currency in nature and in order for that currency to thrieve, it needs liquidity, it needs to flow. With a very limited amount of bitcoin plus take away 40% of it in circulation, then bitcoin should have crash by now

[Vod]

remember that bitcoin is a currency in nature and in order for that currency to thrieve, it needs liquidity, it needs to flow.

Bitcoin is a commodity.  The price fluctuates too much to be used as a currency.

[niptuck]

may be it will down soon 

[cloud69]

Can you give us any source? That article is only making assumptions.

Also, who couldn't say that it's the same for USD? or any fiat currency? You know, like.. bankers?

[Murloc]

I don't see any obvious reason why should they dump the price of btc (that is the only threat coming from them) so I feel safe. You better compare the current amount of bitcoins and the bitcoin users with the potential amount. There is a pretty big chance that in some years  someone's current 0.1 BTC will be concidered as a huge amount of BTC (like todays major holders).

[DARKANGEL6415]

I find it hard to believe that so few people control so much of the bitcoins out there. That's almost as bad as with normal money where the top 3 percent of people control 97 percent of the worlds money. Not just one country but the worlds supply but then again i guess its all fairness to us lol.

[Walrus1]

Can you give us any source? That article is only making assumptions.

Also, who couldn't say that it's the same for USD? or any fiat currency? You know, like.. bankers?

no I can't just read the article and put it up for discussion. I'm just the messenger I just thought it was interesting

[MrVuuu]

It was predictable, valuable resources are always controlled by a minority.

[heureca]

https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

Trying to post a link to this article. Don't know if it lets me but according to the article 1,000 people control 40% of Bitcoin and they all know and are in contact with each other. A bit scary, that's a lot of control

I suppose that 1% of people have 99% of all fiat money) and they are also well-known persons and know each other..) it is normal for our world at all  

[jeffer8035]

1000 people 40 percent if it is scary because they would easily control the price although that information has to be seen if it is true if you want to make certain but you do not want to lose you have to investigate more depends on who they are if they are bankers or Rochal but they would not control everything It was very difficult for him to have the other 60 percent