Indamuck
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May 30, 2019, 02:43:37 PM |
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The wealthy will dominate every market and crypto is no different. All the little guys can do is ride their waves and try to find out what way they are pushing the price before it becomes obvious. There are even bots set up that detect large transfers of coins to exchanges.
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dothebeats
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May 30, 2019, 03:33:10 PM |
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There should be some form of threat that whales bring no matter what market they operate in. Knowing that they control a bulk of the market's share, it is easy for them to control the price at will if the moment is opportune and everyone is willing to play with them. Idk if that information from the site you referenced is true and verifiable, but the only truth I know is that there are times in which whales are to be commended and there are times that they should be avoided, simply due to the fact that they have lots of money.
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coin-investor
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May 30, 2019, 03:50:24 PM |
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According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins? This is an open market, everyone can buy how much he wants and we have too many exchanges, whales are part of every trading and market, we cannot stop them from manipulating the market, there are advantages and disadvantages but so far whales are helping to move the price forward.
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Pipdips
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May 30, 2019, 04:06:56 PM |
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Yes, there is danger that is if they will unite and took one single action and that is to sell their hoard in avalanche.
That would be freaky.
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gentlemand
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May 30, 2019, 04:09:11 PM |
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Yes, there is danger that is if they will unite and took one single action and that is to sell their hoard in avalanche.
That would be freaky. That would be ludicrous. You don't get to that position by cooperating. You get there by fucking as many people as possible and leaving them for dead. If this mythical group had their collusion all set up then if there was any advantage to break from it and get one over on everyone else they're all going to do it.
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mk4
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May 30, 2019, 04:22:11 PM |
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If whales have this amount of BTC then they can control the market. If they wanted to dump every BTC they have, then surely the market will go down right away. We must hope they won`t do any unpleasant thing that will get the market hopeless.
If a certain whale is planning on selling his/her BTC stack, it would be very foolish to dump it all in one go, especially on one single exchange. There simply wouldn't be enough liquidity, and just after dumping on a decent number of buy offers, suddenly the bitcoins are being sold at half the price. The whale can simply sell slowly, in certain increments, to affect the market as less as possible.
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AntoCokbun
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May 30, 2019, 04:40:08 PM |
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in fact there must be panic in me but it's not too big, and I feel panicked for fear that someday the pope will sell all the bitcoins they have, it's not impossible that the market will go down.
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Naida_BR
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May 30, 2019, 05:58:00 PM |
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According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins? This feature in the cryptocurrency markets is opposed to the decentralized ecosystem that they people want to make transactions at. If there are whales then the network is centralized and not decentralized. Thus, it is something that worries me a lot, especially in the case where bitcoin tries to jump on a bull market.
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kryptqnick
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May 30, 2019, 06:07:08 PM |
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Not sure if the information on that website is legitimate, but to answer your question: You think is it any danger in whales holding so significant amount of Bitcoins?
Of course there is. Not sure if you can count this as "danger", but whales can significantly move markets by simply dumping their BTC; and there's nothing we can really do about that. This is how open markets work, even outside of the cryptocurrency space. As time goes on though and assuming market liquidity increases in the future, it will significantly get harder and harder for them to move the markets. It's true that some movement can be caused, but I really think people are overreacting when it comes to the power of 'whales'. For instance, the op is talking about 450k BTC. While it seems to be a lot, it's only 2.5% of the current total supply. Moreover, it's not like 1 person has control over this sum. It's a bunch of different investors with different motives and decisions. That is, of course, if the article is even telling the truth. The real power over the market is informational attacks, leading to chain reactions of panic selling. And it's something that we are a part of, and something that might stop happening often with time. P.S. Op, referral links are not allowed on this forum, and yours seems to be a referral one.
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muratsink
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May 30, 2019, 08:50:54 PM |
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Of course. they always control the crypto market. when whales sell their assets while the spread and market volume are low, the BTC market will fall drastically. and we must to worry about their decisions. especially when they decided to sell high amounts of BTC.
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bloodyvio
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May 30, 2019, 10:05:37 PM |
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it would be very bad if they decided to sell all of their bitcoins 450k BTC will greatly affect the price of cryptocurrency, not just the price of bitcoin but this will affect the prices of other altcoins because bitcoin still dominates the cryptocurrency marketcap
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carrigan
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May 30, 2019, 10:27:40 PM |
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I think that so far, there are always whales that hold the big numbers of Bitcoin volume. And it is normal enough because they will be always here. Sometimes, we are fearful of them but they can also be one of the ways for the normal condition of the market. So, whether there are big whales holding a big amount of BTC or not, never put it in your fear forecast. Just make sure that your strategy is great and appropriate to this certain market conditions.
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Jet Cash
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May 30, 2019, 10:41:44 PM |
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I think some people have come to realise that if you "store" Bitcoin in a hardware wallet, and then you sell that wallet, the transaction is completely untraceable and unrecorded. This is probably the new cash, and is a great way to move large sums across borders. you can expect to see more large and apparentlt dormant addresses in the future.
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jhongzjhong
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May 30, 2019, 10:54:41 PM |
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Yes, if they have held a significant amount of Bitcoin probably they can do controlling the price of the market. They can do pump and dump like what happen last yeat that bitcoin holds at $4k range price in the market. Whales can do more controlling the market if they have a huge amount of bitcoins hold. They have a strategy of how to play well the market or just maintain in the lower price.
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mk4
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May 31, 2019, 02:29:41 AM |
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It's true that some movement can be caused, but I really think people are overreacting when it comes to the power of 'whales'. For instance, the op is talking about 450k BTC. While it seems to be a lot, it's only 2.5% of the current total supply.
It's actually indeed a lot. May not be that much when comparing it to the total supply of bitcoin(though 2.5% is still big), we're talking about the markets here. Exchanges. Not 100% of existing bitcoins are being traded, so there won't be enough liquidity for a 450k BTC dump to not crash the markets.
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bering
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May 31, 2019, 07:11:20 AM |
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In this case i worried about that because if there is some of people who identified as a whales move huge amount of coins to the particular wallet people starting to worried because more likely those coins eventually will be dumped and regarding the whales some of people including me strongly believe whales have a power to manipulate the price because they have a lot of bitcoin in their hands but regarding bitcoin amount they have i think the whales have more than 450k btc
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Pipdips
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May 31, 2019, 03:43:04 PM Last edit: May 31, 2019, 07:21:50 PM by Pipdips |
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That would be ludicrous. You don't get to that position by cooperating. You get there by fucking as many people as possible and leaving them for dead. If this mythical group had their collusion all set up then if there was any advantage to break from it and get one over on everyone else they're all going to do it.
I think such a scenario is likely. Satoshi even claimed that one day Bitcoin will either be worth $1,000,000, or it will be worth $0. In our lifetimes, it will possibly reach at least one of those prices.
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suzanne5223
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May 31, 2019, 05:44:29 PM |
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According to BlockChain24.co, over the past nine months, the crypto whales have bought 450,000 BTC. You think is it any danger in whales holding so significant amount of Bitcoins? This feature in the cryptocurrency markets is opposed to the decentralized ecosystem that they people want to make transactions at. If there are whales then the network is centralized and not decentralized. Thus, it is something that worries me a lot, especially in the case where bitcoin tries to jump on a bull market. Of there are whales which sometimes manipulate the market an example is apple co-owner which sold thousands of his holding before the last market blood bath/correction. If you're familiar which physics there's law which stated "that machine can never be 100% efficiency" same thing apply to everything in the world for nothing is totally perfect, just because Bitcoin is decentralized does mean it won't be manipulated at least is not control by government or central banks.
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bittraffic
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May 31, 2019, 06:24:42 PM |
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I think some people have come to realise that if you "store" Bitcoin in a hardware wallet, and then you sell that wallet, the transaction is completely untraceable and unrecorded. This is probably the new cash, and is a great way to move large sums across borders. you can expect to see more large and apparentlt dormant addresses in the future.
An ideal way, but that might happen in the later years because if you sell huge amount of BTC these days, those who wanted to buy the hardwallet are going to be very suspicious. Its is very untraceable but once those who bought the coins get to send then into a CEX where they submit KYC, its going to be traceable to the buyer. They would eventually have to put it on big exchange if they are to trade.
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Nasonn
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May 31, 2019, 06:45:10 PM |
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Yes, it is. Anyone with that amount of BTC can influence the market price negatively is they wish to but I hope it won't ever come to that.
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