Bitcoin Wales what it is / who are they?

[SUMBI99]

Coming Across Topics and posts detect some vocabulary which appears to be used mostly in many comments on the forum posts currently, I understand it in general that people are talking about bitcoin but and I didn't realize if it is the right the way I think and not sure, following different posts also see I'm not alone with some kind of misunderstood how people use the world wales or Bitcoinwalles, this is not Because I'm newbie, yes I might be in the forum but not in crypto and think of other people no matter of the ranks did they use the word bitcoin wales /wales Correctly or did they mean in the same way correlated with other people when they use it. So I decided to Find some reading online which will help  me and other people who confused by this Vocabulary or Need to adding knowledge about the terminology for the people who are already the know it

What Is a Bitcoin Whale?

At this moment in time, the cryptocurrency market has a total capitalization of over $200 billion USD. As you may imagine, these funds aren’t distributed evenly, which means that people can individually own anywhere from a few bucks up to millions of dollars. So who are these investors? Bitcoin whales are individuals, hedge funds, and Bitcoin investment funds holding the highest amount of coins. In other words, these are the biggest Bitcoin investors on the market.

Due to the anonymity associated with Bitcoin’s blockchain network, it is difficult to say who owns what, but we know a high percentage of the coins is held by whales. At this moment in time, several of the major Bitcoin investment funds—meaning the biggest Bitcoin investors—include Bitcoins Reserve, Coin Capital Partners, Pantera Capital, Falcon Global Capital, Bitcoin Investment Trust, Fortress, and the Global Advisors Bitcoin Investment Fund. It’s believed that all these funds manage hundreds of thousands of Bitcoin, which can only enter digital currency exchanges via special arrangements.

Bitcoin whales are highly relevant to the market, as massive coin movements arranged by this group have the power of influencing prices and can create buy/sell trends. With this in mind, a Bitcoin whale that decides to sell part of their coins can plummet prices, as numerous others follow the trend and engage in panic selling. The same concept is valid when large amounts of coins simply move or are purchased.

Bitcoin Whale Stats
Now that we’ve discussed just what is a whale investor, let’s see how much of the market they own, how many of them there are, and where they’re keeping their investments.

According to a study made by ChainAlysis, at this moment in time, the Bitcoin whales group is a cluster made up of roughly 1,600 investors who hold around $37 billion in Bitcoin. This means that they hold almost one third of all the Bitcoin in circulation—close to 5 million coins. The coins are kept in wallets containing at least 1,000 BTC each.

To put things into better perspective, here are some statistics that will present how Bitcoin wealth is distributed amongst its richest users.

1633 addresses containing 1,000–10,000 BTC, or $22.8 billion USD
121 addresses containing 10,000–100,000 BTC, or $20 billion USD
3 addresses containing 100,000–1,000,000 BTC, or $2 billion USD.

Source
More Read on:: https://bitfortune.net/bitcoin-whales/

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What is Bitcoin Wales Again ?

1.Bitcoin Wales is a group that shall operate over Wales and push for Bitcoin adoption and the adoption of digital currencies.
2.It aims to be the centre point for the media or government to approach about digital currency matters.
3.There is often a misunderstanding of Bitcoin and digital currencies and we aim to be there for organisations to approach in regards to clarification about Bitcoin.
4.We will educate and teach people about Bitcoin and digital currencies so that the benefits can spread wide across wales.
5.Bitcoin Wales shall operate local groups across Wales and currently operates in Newport, Cardiff and Swansea.
6.The reason we are doing this is because we believe in the profound impact of this technology and we believe that digital currencies will greatly help Wales and the people of Wales to flourish.

Souce
More Read on::   http://bitcoinwales.org/

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[20kevin20]

Wealth inequality will most likely never cease to exist unless deglobalization happens (which is what the COVID-19 case apparently does right now, but I guess we'll get back into globalization as soon as the pandemic ends).

The Bitcoin wealth inequality is still low compared to the world. IIRC, somewhere around 10% of the adults hold +85% of the world's wealth. Moreover, while the largest corporations are actively moving their assets and funds, millions of BTC haven't been moved in years. In fact, millions of BTC are now known to be lost in the void..

Don't worry, we have whales in all our stock markets - even in the commodities. Prices are sometimes pushed/pulled to the advantage of massive corporations and/or billionaires, just like massive movements of BTC by whales occur to their own advantage. The weak hands take action depending on their moves so your money goes into their wallets.

[Darker45]

Wealth inequality will most likely never cease to exist unless deglobalization happens...

I doubt. Even way before the term globalization was coined, wealth inequality was already there. I don't think wealth inequality only came out at the advent of globalization. I would even think that it was already there right from the very beginning of human race. Globalization made it much worse, of course. Therefore, removing globalization from the face of the earth, the problem of wealth inequality will still persist. It may not even be a problem at all because it seems it does not have any solution.

[pooya87]

you can't even mention the term "Wealth inequality" when you are talking about bitcoin. because unlike most other things anybody who has more bitcoin has gained it on even grounds without having any more access than others. basically anyone called "whale" is like anybody else but they took a much higher risk when price was down instead of doing what everyone else did which was either ignore bitcoin or sell in panic. it is not inequality when it was a choice. nobody was preventing you from buying bitcoin when it was $900 in 2017 or $3k last year or when it dipped last week!

[hatshepsut93]

Bitcoin whales are semi-mythical - everyone talks about them, but no one names any names. You'd bet that in all these years someone would pinpoit at least a few individuals, but no, it's always the abstract "whales". I'm not saying that they don't exist, but we have no idea just how many of them there are, how much do they cooperate, how many coins do they hold, etc. Maybe their influence is severely overblown and they don't fully control the price like many people believe.

[Tipstar]

Bitcoin is a huge economical asset. It has it's own advantages and disadvantages. And the price fluctuation could be called both.
Bitcoin has become a asset of interest for traders due to it's price fluctuations. The large volume traders has the ability to manipulate the prices singly or in a secret combination. Such whales are not just in crypto. They are everywhere. It's just that no other asset provides similar fluctuations.

[davis196]

you can't even mention the term "Wealth inequality" when you are talking about bitcoin. because unlike most other things anybody who has more bitcoin has gained it on even grounds without having any more access than others. basically anyone called "whale" is like anybody else but they took a much higher risk when price was down instead of doing what everyone else did which was either ignore bitcoin or sell in panic. it is not inequality when it was a choice. nobody was preventing you from buying bitcoin when it was $900 in 2017 or $3k last year or when it dipped last week!

Some of the whales are the so called "early adopters",who bought and mined Bitcoin back in 2010-2012,so the risk they took isn't that big.I guess that most of the crypto whales are people who own cryptocurrency exchange platforms and BTC mining facilities.They aren't crypto traders,who bought large amounts of Bitcoin back in 2013-2016.Back then,nobody was expecting the BTC price to go from 1K USD to 16K USD in one year.
Most of the crypto whales were already rich,before they get into the crypto world.So Bitcoin didn't create any new inequality,some rich people from the fiat economy just moved into the crypto economy.

[o_e_l_e_o]

OP, you do realize that "whales" and "Wales" are not synonymous? Did you actually read all the text you just copy and pasted?

The term "whales" refers to people who hold large amounts if bitcoin.

"Wales" is a country in Europe.

The two are unrelated. The second link you posted is a group who are advocating for the promotion and adoption of bitcoin across the geographical region of Wales. It has nothing to do with "whales".

[pooya87]

~
Some of the whales are the so called "early adopters",who bought and mined Bitcoin back in 2010-2012,so the risk they took isn't that big.

actually the earlier adopter someone is the higher the risks they took because when something is brand new and you don't even know if it can survive past the first year, you would be taking a lot more risks putting any money into it. otherwise when someone buys bitcoin after 11 years of successful run with overall rise and lots of adoption and no security issues, they aren't taking that much risk!

[20kevin20]

I doubt. Even way before the term globalization was coined, wealth inequality was already there. I don't think wealth inequality only came out at the advent of globalization. I would even think that it was already there right from the very beginning of human race. Globalization made it much worse, of course. Therefore, removing globalization from the face of the earth, the problem of wealth inequality will still persist. It may not even be a problem at all because it seems it does not have any solution.

Wrong words used. Meant to say the wealth inequality would decrease if deglobalization happens. Inequality will obviously continue to exist.. Corporations would have way less power, though, than they've had in the past few years.

[fiulpro]

Just the people who have loads of money and this money they use to manipulate the market so that they can make a hefty profit .
They follow all the rules of the government but at the same time what they do is actually not something that is good , it makes all the individual investors weak and powerless .
Also at the same time it is a known fact that the whales have their own community , so they actually talk with each other and encash or make the money flow according to themselves. This in turn makes the things more complicated for people

[madhavsinghrajput]

Wealth inequality will most likely never cease to exist unless deglobalization happens...

I doubt. Even way before the term globalization was coined, wealth inequality was already there. I don't think wealth inequality only came out at the advent of globalization. I would even think that it was already there right from the very beginning of human race. Globalization made it much worse, of course. Therefore, removing globalization from the face of the earth, the problem of wealth inequality will still persist. It may not even be a problem at all because it seems it does not have any solution.

I agree with you.Wealth inequality exist in ages.Kings are the greatest examples of it and Jamindars and farmers are the ideal example of it which still exist now.They manipulate prices according there convenience and we all know who is suffering and this doesn't have to do with globalization.Eradicating inequality means you are eradicating the market because as long as markets exist there will be profit for someone and loss for someone and that will create whales.Whales are nothing but people who have great amount of money with greater knowledge and greatest sense of investment.These things you can't eradicate in any market be it bitcoin or commodity.

[FanatMonet]

Now a rather big problem is that it is impossible to know exactly how many of these addresses are just waiting, and how many of them were lost by their owners, which is very common, especially with respect to the first bitcoins, when they cost very little.

[DarkDays]

There's no point speculating who the Bitcoin whales are, the demographic changes all the time.

You can just assume that the vast majority of mega whales (e.g. those with over 10 million USD worth of Bitcoin) are either hedge fund, exchange wallets or other institutional investors.

There are unlikely to be many single, direct owners with more than 10 million worth of Bitcoin, unless they're some seriously strong hands.

Anybody holding more than 500 BTC in December 2017 would have been seriously tempted to sell out, since that would have made them a millionaire. So unless they were already extremely well-heeled before this point, the temptation likely shook out most of the high net worth individual holders.

[seoincorporation]

There's no point speculating who the Bitcoin whales are, the demographic changes all the time.

You can just assume that the vast majority of mega whales (e.g. those with over 10 million USD worth of Bitcoin) are either hedge fund, exchange wallets or other institutional investors...

True, the whales form today will not be the whales from the next 10 years. A whale nowadays could be a rich guy in Dubai, an earlier investor, a wolf of Wallstreet, or any reach guy who gets access to bitcoin.

[Kupid002]

Now a rather big problem is that it is impossible to know exactly how many of these addresses are just waiting, and how many of them were lost by their owners, which is very common, especially with respect to the first bitcoins, when they cost very little.

its possible how ever the chance that the owner will not secured thier key is very small. If you have large amount of coins you will always make multiple backup keys not only one or two. The only person i see possible to forget thier keys is those people who have bitcoin way back 2010-2013 .

[Yaunfitda]

Bitcoin whales are semi-mythical - everyone talks about them, but no one names any names. You'd bet that in all these years someone would pinpoit at least a few individuals, but no, it's always the abstract "whales". I'm not saying that they don't exist, but we have no idea just how many of them there are, how much do they cooperate, how many coins do they hold, etc. Maybe their influence is severely overblown and they don't fully control the price like many people believe.

Right, we always heard about whales and most of us used that term here in the community. But we will never knew who those people are as it is obvious that bitcoin addresses have no names attached to it.

They could be individuals, or institutions or miners or exchanges who have money to begin with and invest or hold onto their BTC. So this number can grow overtime as there are many who wanted to have a bag full of bitcoin because of it's limited supply.

[alexsandria]

Bitcoin whales or big whales are those person or group of people that has been starting to adopt the cryptocurrency or digital currency snd promoting it all over the world in order for them to earn money and also in order to the cryptocurrency became more famous. This bitcoin whales has a lot of bitcoins and that's why that is also the reason why they csn control the situation of market sometimes.

[Mbitr]

Hey OP - very interesting correlation ??
FYI - http://bitcoinwales.org/ is now really defunct and transformed into cryptowales- if anyone is interested

http://www.cryptowales.co.uk/

They are actually a very good Meetup and do a lot of interesting talks for all levels of crypto knowledge - predominantly bitcoin- and really promote bitcoin adoption in Wales .

[White Christmas]

Hey OP - very interesting correlation ??
FYI - http://bitcoinwales.org/ is now really defunct and transformed into cryptowales- if anyone is interested

http://www.cryptowales.co.uk/

They are actually a very good Meetup and do a lot of interesting talks for all levels of crypto knowledge - predominantly bitcoin- and really promote bitcoin adoption in Wales .

That was a very useful blog site in which we could really tell that this blog was really informative and maybe can help a lot of people here in the forum knowing and exploring about the digital currency of cryptocurrencies. This may help people to know what are those whales are doing specially on the times in which they are getting some speculations in order to make a decisions about the things that they want to.