One thousand people control 40% of Bitcoin

[Tuare aget]

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.

I dont know if it is true or not. However if it is true mean they can control the market. Pump and dump just in their hand.
It is very scary. How is bitcoin future if something like that happen?
I think it is very serious issue.

[tanghere02]

It might be true and it is possible also because it is easy now to buy bitcoin as log as you have the budget. Could you imagine if these people holding a huge amount of bitcoin buys and sell bitcoin for fun then that is scary because that only shows they are in somewhat control of the market and bitcoin.

[GR92]

'I don't see anything wrong with that, because it's not a problem. Firstly, 40% is not 90%, and secondly, 1000 people are not 10 people).It won't be easy to agree)

[Walrus1]

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.

I dont know if it is true or not. However if it is true mean they can control the market. Pump and dump just in their hand.
It is very scary. How is bitcoin future if something like that happen?
I think it is very serious issue.

If they were to make a coordinated sell off while shorting on the cme they would do well. Hopefully these people are not as bad as the current cabal who control cash. I guess this is getting a little conspiracy theoryish but all things are possible

[Shamie1002]

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.

I do agree, I think that even here in the forum, when people earn, they spend it instantly for their needs. People come here for a stable income and only few can hodl for long term.
That is why rich investors who do not need to use it can hold it whenever they wanted to. Having a large percentage in possibility to control bitcoin.
I think that it is possible that a thousand users could control forty percent of bitcoin.
But I think they could not do much they could lose possible profits. What could they possibly do ?

[DBronze98]

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

These 1000 people are big fish that control the current value of bitcoin, they are capable of docking all of our bitcoins into trash.

[InsightCryp.to]

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

40% It's a lot. That's a lot of powerful to turn things around! People nowadays are going nuts of BTC, some are investing without the right knowledge about Bitcoin, how volatile it is, and etc. But, gong back to the main issue, if they sell those 40% Bitcoin, just imagine, it could easily crash the market. But, just like in any kind of investment vehicle, this could happen. With the wide popularity of Bitcoin, it can surely bounce back! So, if that happens, I'll buy more of it!

[Dapper]

This is the nature of the world.   A very small % has most of the wealth since the beginning of time.   My advice is not to worry about it and don't dream of being in the 1%.    Being in the top 15% is perfectly comfortable.

[bennie4]

no problem. as long as they can not control 51% of the bitcoin. The rich will own many bitcoins, of course.

[MkGregor]

Does not seem like a true fact. First off all, we have not mined all Bitcoin, Second, there is no way of knowing who owns those wallets, third, even if, it is actually more fair, than the wealth distribution in a real world  

[tree1100hn]

Bitcoins are expensive, but the early intervention may be a bit bitcoin, as many of the participating deals came in 1617, when the difficulty of mining was already high. Of course, in China, a few mining company founders have a lot of bitcoin in their hands. So nothing strange.

[william8829]

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

If this gets confirmed the Bitcoin community could start a ground roots movement to fork Bitcoin away from these market manipulators.  Something similar to the way Ethereum handled those hackers during its genesis.

[Hanako]

Does not seem like a true fact. First off all, we have not mined all Bitcoin, Second, there is no way of knowing who owns those wallets, third, even if, it is actually more fair, than the wealth distribution in a real world 

Yeah it's seems like just a fakenews or nothing but just fakenews. Because there's no proof that they are holding it even a pictures right? Well i definitely would rather sell all my bitcoins if this is true that they owns 40% of bitcoin total supply sell. We all know bitcoin is too expensive right now hehe

[fiulpro]

Well you should always trust a trusted source, well I don't know much about the survey you read about if its true or not but if it is then offcourse its preety scary!

Controlling that much amount of bitcoins and that too being in touch with each other, do give them authority and power to regulate the bitcoins in whatever way they want to.

If they sell the value of bitcoins will go down tremendously, thus they are really posing an authority over everything so we cannot say that bitcoins are really decentralized because its none other than centralization that's playing a part here.

[joshuaj]

Wow, these 1000 people are the richest man in forbes cryptocurrency billboard 

[expertofexperts]

I think such articles are brought in the market to flourish rumors   . Since last 48 hours, BTC has been feeling pressure and trading around 15k. Not sure how such calculations are made when they say 40% of BTC with 1000 people. It seems some fiction story, not scripted well, has been put in market.. Few will start selling their btc to book early profits and btc will fall a few... Best is to go by your own judgment.

[marcbitcoins]

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

   You mean 1000 people that together they will dump bitcoin? If they are all billionaires then there is possiblity to control, manipulate or even dump bitcoin because they have resources but if thru hacking will it is very impossible to hack the blockchain system because it was very stable that even the US defense department or PENTAGON will plan to adopt the blockchain system because it is proven very strong and stable against attacks.

[hadisaw]

It's very worrying, we know for ourselves who is the strong one who survives. If they unite to manipulate the market it would be a disaster for us bitcoin holders on a small scale.

[Lingqingyi]

That's normal, because bitcoin is relatively small market capitalization, and there is a certain amount of capital that can manipulate the value of bitcoin.

[markleal]

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

Hi there Walrus1! That is terrible! But as I read the article it seems that the author just want to give warning to other users which could be the small fishes. But do I feel scary, I think not. If they are really could manipulate the price so, one wise fish could simply go with the whale to make swimming and navigating to the deep bitcoin market safe and secure. However, as I check the link from “stompix” if the link he shared is the source, you can examine that not almost half of the address have a few times of out, and less than a hundred is active with almost day to day transactions.