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Author Topic: Jeff Bezos and Bitcoin  (Read 262 times)
Twentyonepaylots
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July 02, 2020, 03:35:23 PM
 #1

Today Jeff Bezos is worth more than the market cap of the bitcoin at its price right now, he's more than $1.5M ahead. Jeff Bezos could really own every bitcoin with that huge amount of money, but I'm thinking how much transaction fee he is getting to pay for buying all of the bitcoins (If Ever) and I'm also wondering why at this time of pandemic he got his ATH company shares. With all these money he could just play around, he's above all us in terms of money. Any thoughts about this one?

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July 02, 2020, 03:42:53 PM
Merited by mk4 (1), menoiazei (1)
 #2

Jeff Bezos could really own every bitcoin with that huge amount of money, but I'm thinking how much transaction fee he is getting to pay for buying all of the bitcoins

Two mistakes here.
1. He cannot own all the bitcoins because:
1.1 Some bitcoins are lost forever.
1.2 Some people will simply not sell.
1.3 Not all bitcoins are mined yet.
1.4 As he starts buying (them all) the price will go up and up and up until the point he cannot afford to buy more. At least this is how I understand the laws of supply and demand.
1.5 He is not stupid and he would understand that if he would buy all the bitcoins they'd become worthless. Also he will always hugely diversify his investments.


2. The transaction fee for sending the bitcoins doesn't depend on how many bitcoins there are there and what's their market value. It's (in this case) about the number of inputs (does he have a few "big bills", or a huge amount of "coins" or somewhere in between).

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July 02, 2020, 04:12:15 PM
 #3

I suppose @OP was referring to the trading fees (not to spend). Let's imagine him converting his fortune ($175 billion) to bitcoins with a 0.15% FX fee, that would be $~250 million
Buy from me, Jeff!!!

@Twentyonepaylots

Amazon capitalized mainly on people's purchasing habits which changed when they turned to e-commerce during the stay at home order (without considering AWS and subscribers). Now the company is surely hoping the habits become permanent

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July 02, 2020, 04:20:19 PM
 #4

I'm also wondering why at this time of pandemic he got his ATH company shares.
E-commerce is booming and that's why his Amazon stocks is rising. And he's not just with Amazon as the typical service that we know, he got various of investments spread all across several companies.

He also has a very known cloud service infrastructure that's being used by many companies and businesses today which gives more profit for his company. I didn't even thought him talking about bitcoin or purchasing a lot, who knows if he already did?

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July 02, 2020, 04:21:03 PM
 #5

It would be less costly for him if he starts a mining farm and get 90%+ total hashrates before making the attempt to buy all coins. He'd be getting the transaction fees and most of new coins. And as the previous user stated, a large buy order would make the price rocketing making him not being able to get even 25% of total coins. Jeff Bezos is much more intelligent than he looks.

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July 02, 2020, 04:47:09 PM
 #6

1.4 As he starts buying (them all) the price will go up and up and up until the point he cannot afford to buy more. At least this is how I understand the laws of supply and demand.

Yea, this. Bitcoin price will rise and rise if people on exchanges are hoarding up all the available supply. Why would it be difficult with Bezos? It's not like he's going to negotiate with every single bitcoin holder and agree with the $9k price.

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July 02, 2020, 04:50:54 PM
 #7

I suppose @OP was referring to the trading fees (not to spend). Let's imagine him converting his fortune ($175 billion) to bitcoins with a 0.15% FX fee, that would be $~250 million
Buy from me, Jeff!!!
I forgot the major details, I was blinded by his net worth by now and what I did is I just compared it with the real time market capitalization. However he could still afford to buy the available bitcoins, or he cannot? Jeff Bezos is living at the top literally, he's like the bitcoin itself when we talk about the money, how fortunate. What if Jeff is the on who's making the price movements?

Amazon capitalized mainly on people's purchasing habits which changed when they turned to e-commerce during the stay at home order (without considering AWS and subscribers). Now the company is surely hoping the habits become permanent
I didn't expected the e-commerce to grow that far, since we have this pandemic right now.


and guys this is just a 'what if' of mine, I'm just stunned with Jeff Bezos. Peace !  Cheesy

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July 02, 2020, 04:55:33 PM
 #8

I didn't expected the e-commerce to grow that far, since we have this pandemic right now.

It actually makes more sense that it's growing knowing that were in a pandemic, as a lot of people can't(or refuse) to go out. Instead, they order their stuff online to not put themselves at risk. And this isn't only Amazon. Other stocks of eCommerce platforms(like Sea Ltd of South-East Asia) are at a parabolic growth.

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July 02, 2020, 05:02:00 PM
 #9

Today Jeff Bezos is worth more than the market cap of the bitcoin at its price right now, he's more than $1.5M ahead. Jeff Bezos could really own every bitcoin with that huge amount of money, but I'm thinking how much transaction fee he is getting to pay for buying all of the bitcoins (If Ever) and I'm also wondering why at this time of pandemic he got his ATH company shares. With all these money he could just play around, he's above all us in terms of money. Any thoughts about this one?
I completely agree with NeuroticFish about the things you don't take into consideration when making such an assumption. He probably wouldn't be able to buy even the majority of BTC, but I think if he wanted to, he'd definitely be able to buy an amount significant enough for very temporary price manipulations. He might even already have BTC as the rumors suggest, but we won't ever know unless he confesses and signs a message which is not likely.
I suppose @OP was referring to the trading fees (not to spend). Let's imagine him converting his fortune ($175 billion) to bitcoins with a 0.15% FX fee, that would be $~250 million
Buy from me, Jeff!!!
I forgot the major details, I was blinded by his net worth by now and what I did is I just compared it with the real time market capitalization. However he could still afford to buy the available bitcoins, or he cannot? Jeff Bezos is living at the top literally, he's like the bitcoin itself when we talk about the money, how fortunate. What if Jeff is the on who's making the price movements?
I am sure that there are people who won't sell there Bitcoin to him for any money he can afford to spend on this, especially since he probably cannot afford to buy at significantly more than the current market price. He cannot make all people sell their BTC.

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July 02, 2020, 05:13:55 PM
 #10

Today Jeff Bezos is worth more than the market cap of the bitcoin at its price right now, he's more than $1.5M ahead. Jeff Bezos could really own every bitcoin with that huge amount of money,
this time is much different from the years gone by, I think @Jeff Bezos, it didn't work, if Jeff Bezos wants to buy a lot of Bitcoin.

Why this can happen, many factors affect Bitcoin this year, on the one hand people stop selling Bitcoin, they know that Bitcoin in the future has good value, wants to get more profit, people are not too careless in selling it, although Jeff Bezos flooded the market he wanted to buy, this time Jeff Bezos didn't succeed, just look next.

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July 02, 2020, 05:14:42 PM
 #11

Jeff Bezos could really own every bitcoin with that huge amount of money

He has a huge amount of wealth, a lot of that isn't going to be money. If he did start attempting to convert everything he has into cash he'd find he wound up with rather less than the headline figures everyone throws around.

Since he's already sitting on a machine designed to take over the world his interest in something like BTC will hover somewhere around - zilch.
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July 02, 2020, 05:16:15 PM
 #12

Jeff Bezos could easily manipulate the cryptocurrency markets if he wanted, but why would he? He's the richest man on Earth in terms of fiat capital.

I don't think he's got the free time to worry about manipulating cryptocurrency markets for what would be small gains for him.

Some quick calculations indicate that this guy earns around $10 billion per year, which is the equivalent of $27.3 million per day. I really don't think he cares about the hundreds of thousands or so he could get away with from manipulating cryptocurrency markets. He's already found the ultimate moneymaker, and that's Amazon.

This guy doesn't need to work on making money anymore, he just builds his dreams and his companies.

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July 02, 2020, 06:22:51 PM
 #13

Jeff Bezos could easily manipulate the cryptocurrency markets if he wanted, but why would he? He's the richest man on Earth in terms of fiat capital.
True, with that net worth he has, he could just play along with it. He could and he can, if you are that rich there is no ultimate goal for you but to become richer, he can just inject tons of money in there making us think that it is bullish then get out with plenty of profits.But how do we know if he is doing this?

I don't think he's got the free time to worry about manipulating cryptocurrency markets for what would be small gains for him.
If you are that rich there is no impossible things for you, this guy has a lot of financial advisor and secretaries that he can command orders to do a stuff for him. Not that impossible for Jeff himself.

Some quick calculations indicate that this guy earns around $10 billion per year, which is the equivalent of $27.3 million per day. I really don't think he cares about the hundreds of thousands or so he could get away with from manipulating cryptocurrency markets. He's already found the ultimate moneymaker, and that's Amazon.
that was quick but that's aint right mate, he is not born yesterday to become that millionaire, he invested his whole life making money and serving people.

This guy doesn't need to work on making money anymore, he just builds his dreams and his companies.
As I say, I don't work for anybody else, I just work for myself, why would he stop making money if he can?

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July 02, 2020, 08:22:26 PM
 #14

Bezos couldn't simply do that, given that most of his assets aren't liquid and are part of the Amazon stocks, though if he wanted to, he can still buy a huge chunk of bitcoins any time he wants to. The thing is, the whole market cap of bitcoin isn't also the exact same figure, as you would need to take into account the unrecoverable bitcoins that are forever lost in the cyber void and those that are hidden on cold storage that their owners wouldn't be willing to sell. Nevertheless, it's just amazing how someone can be so rich (or at least valued with such figures) in our day and age.

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hatshepsut93
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July 02, 2020, 08:28:17 PM
 #15

Some quick calculations indicate that this guy earns around $10 billion per year, which is the equivalent of $27.3 million per day. I really don't think he cares about the hundreds of thousands or so he could get away with from manipulating cryptocurrency markets. He's already found the ultimate moneymaker, and that's Amazon.


"Earns $10 billion per year" isn't a correct way of thinking about it, he doesn't have $10 billion added to his bank account every year, what happens is that his networth is increasing by that number. It's the same as with us Bitcoiners - we could be unemployed, sitting on our asses all day long, but when Bitcoin goes up, we are "earning" money because our worth is growing.

Today Jeff Bezos is worth more than the market cap of the bitcoin at its price right now, he's more than $1.5M ahead

It nay be fun to think about it, but really it's nothing more than a trivia fact. It has no consequences on the markets.

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July 02, 2020, 09:44:58 PM
 #16

Jeff Bezos could really own every bitcoin with that huge amount of money, but I'm thinking how much transaction fee he is getting to pay for buying all of the bitcoins

Two mistakes here.
1. He cannot own all the bitcoins because:
1.1 Some bitcoins are lost forever.
1.2 Some people will simply not sell.
1.3 Not all bitcoins are mined yet.
1.4 As he starts buying (them all) the price will go up and up and up until the point he cannot afford to buy more. At least this is how I understand the laws of supply and demand.
1.5 He is not stupid and he would understand that if he would buy all the bitcoins they'd become worthless. Also he will always hugely diversify his investments.


2. The transaction fee for sending the bitcoins doesn't depend on how many bitcoins there are there and what's their market value. It's (in this case) about the number of inputs (does he have a few "big bills", or a huge amount of "coins" or somewhere in between).

1.4 As he starts buying (them all) the price will go up and up and up until the point he cannot afford to buy more. At least this is how I understand the laws of supply and demand.

I am not sure about this, if you put 1000BTC on sale now you will drop the price by some percentage, i cant even imagine if someone who has 100k or more decides to sell all at once would happen.
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July 02, 2020, 09:49:23 PM
 #17

Today Jeff Bezos is worth more than the market cap of the bitcoin at its price right now, he's more than $1.5M ahead. Jeff Bezos could really own every bitcoin with that huge amount of money, but I'm thinking how much transaction fee he is getting to pay for buying all of the bitcoins (If Ever) and I'm also wondering why at this time of pandemic he got his ATH company shares. With all these money he could just play around, he's above all us in terms of money. Any thoughts about this one?

His wealth is not that liquid though, he need to liquidated his tangible and non-tangible assets just to be able to buy all bitcoins currently in circulation. Of course, he could do OTC transactions to somewhat minimised transaction fees, but still as he buys the price is going to push through so we may have to see fees going up as well.

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July 02, 2020, 10:15:16 PM
 #18

I can be sure of one thing that Jeff Bezos cannot own every Bitcoin no matter how much money he has. There are many bitcoins that have been permanently lost for various reasons. Besides, Jeff Bezos doesn't have any reason to own all bitcoins.
However, if he wants to manipulate the cryptocurrency market with that money, I think he will.


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July 02, 2020, 10:28:07 PM
 #19

Today Jeff Bezos is worth more than the market cap of the bitcoin at its price right now, he's more than $1.5M ahead. Jeff Bezos could really own every bitcoin with that huge amount of money, but I'm thinking how much transaction fee he is getting to pay for buying all of the bitcoins (If Ever) and I'm also wondering why at this time of pandemic he got his ATH company shares. With all these money he could just play around, he's above all us in terms of money. Any thoughts about this one?
Today Jeff Bezos may worth more than Bitcoin capital market but that doesnt mean he have the chance to have every bitcoins cause it doesnt work like that for it will be hard for him to buy Bitcoin owned by every individuals not to mention exchange site which are now offering Defi for their users that keep his coins on their platform. Besides, i believe his net worth was calculated base on the Amazon money if yes then there's chance that his net worth is not correct because Amazon is a group of companies.
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July 02, 2020, 11:16:08 PM
 #20

I think the better question is that if we are Jeff Bezos, and with that so much wealth, are you willing to put everything and buy all the bitcoins? Doesn't make sense right? So theoretically, I don't think that anyone are going to do that because you will not get any benefits from it, unless you go crazy, Lol. It's more of just a trivial, so called 'what-if', scenario, or just another bitcoin conspiracies.

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