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November 13, 2013, 10:11:00 PM |
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Extreme newbie question here:
Say a dude has $11,000,000 worth of coins (25,000 coins).
And he sells.
Where does all that wealth get moved to inside the Bitcoin system?
It all goes into the coffers of the exchanges, doesn't it?
Therefore, aren't the exchanges ultimately going to be the central banks of Bitcoin?
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If Bitcoin could disperse into a huge "sea" of love ... then it would truly be decentralized wouldn't it?
Shouldn't there be a central, owned-by-nobody, exchange?
A huge vast ocean of bitcoins that constantly grows, but is controlled by nobody?
You sell it, and it goes back into the "global pool" of coins ...
But that isn't the case. Someone is always holding the funds.
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Should Satoshi have created a Bitcoin "pool", rather than require that coins be held by someone at all times?
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