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Author Topic: If all BTC Gets Bought Up?  (Read 453 times)
worldtraveller321
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September 29, 2020, 04:50:19 PM
 #1

Thoughts. Seems more and more "whales' are getting into BTC

Many are buying up the supply of Bitcoin. Which in turn would make it harder for other people to get.

IF all the supply is bought up. It would make it very hard for others to get BTC.

Now if the whales are buying Whole Bitcoins etc.

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?

Almost like putting a whole Bitcoin at a million dollars while the rest of us end up with Pennies?

thoughts? or would having  0.00054 BTC have lots of value if all the whales bought the entire supply?

Thoughts?

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September 29, 2020, 04:58:28 PM
 #2

I can be sure that no one can buy all bitcoins, because so many bitcoins are still in wallets where the key is gone.
In case bitcoins are bought in large quantities by an organization or individual, the price will probably go up because the supply is scarce, but that is very unlikely.


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September 29, 2020, 04:58:30 PM
 #3

Actually if someone tries to buy all the bitcoins, it would be the greatest thing he could do to all of us, because the price would pump. The result would be that bitcoins will be more valuable and not less. Also, no one can buy them all. Even Jeff Bezos that currently is the wealthiest person alive cannot buy all the bitcoins unless he makes 1 transaction of 18M bitcoins. Since no one owns 18M bitcoins, Jeff will have to buy all the funds from every exchange. This will simply increase the bitcoin's price and fail the task of Jeff to gather all the bitcoins to one wallet.

Simple economic rules.

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September 29, 2020, 05:11:37 PM
 #4

I don't think such demand would ever created in the market or even if whales come to invest in BTC, they are unlikely to come everyone at a time. Anyway, if such demand gets created, the price will skyrocket for sure and by that time, every satoshi will be worthy than anyone can imagine at the moment.
And that's where Armstrong would be right by his prediction that "Owning 1 whole BTC would be a tough job." He said it in different way though.
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September 29, 2020, 05:13:45 PM
 #5

Thoughts. Seems more and more "whales' are getting into BTC

Many are buying up the supply of Bitcoin. Which in turn would make it harder for other people to get.

IF all the supply is bought up. It would make it very hard for others to get BTC.

Now if the whales are buying Whole Bitcoins etc.

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?

Almost like putting a whole Bitcoin at a million dollars while the rest of us end up with Pennies?

thoughts? or would having  0.00054 BTC have lots of value if all the whales bought the entire supply?

Thoughts?
wouldn't that make bitcoin valueless if only few people will have it because there will be no volume in the market? I don't think Whales will do that and they can't possibly do that.

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September 29, 2020, 05:30:57 PM
 #6

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?
Almost like putting a whole Bitcoin at a million dollars while the rest of us end up with Pennies?
thoughts? or would having  0.00054 BTC have lots of value if all the whales bought the entire supply?

Supply and demand.
As more bitcoin gets bought and pulled out of circulation and into cold wallets there are less offered on the market thus the price will increase.
Imagine somebody is trying to buy all the gold in the world, would that make your jewelry or gold bars worthless or more expensive? Obviously the second.

Second, why would somebody waste 200 billion (I'm ignoring the obvious rise in price) just to buy all the bitcoins and destroy them?
You don't get that amount of money by doing stupid things, if they buy they buy so if the price increase they will make gains when selling them, which brings us back to square one.

I can be sure that no one can buy all bitcoins, because so many bitcoins are still in wallets where the key is gone.

In theory that would make the job of a buyer easier, as those coins are locked so he doesn't;t have to buy another 3 million of them, if his target is to buy all circulating coins, it doesn't make a difference if those are in this pocket or lost.


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September 29, 2020, 05:31:53 PM
 #7

Actually if someone tries to buy all the bitcoins, it would be the greatest thing he could do to all of us, because the price would pump. The result would be that bitcoins will be more valuable and not less. Also, no one can buy them all. Even Jeff Bezos that currently is the wealthiest person alive cannot buy all the bitcoins unless he makes 1 transaction of 18M bitcoins. Since no one owns 18M bitcoins, Jeff will have to buy all the funds from every exchange. This will simply increase the bitcoin's price and fail the task of Jeff to gather all the bitcoins to one wallet.

Simple economic rules.
Yeah, it is going to cause the price to pump since there will less supply as the person who is buying everything will be holding the coins. You really think this is the "greatest thing he could do for all of us"? Not really! He can now start controlling the price of bitcoin. He can slowly start releasing the coins into the market. People will start buying it at high price and cause further pumping. Now once he is ready to make profit, what if he dumps all the coins? A lot of people will start making losing money while that one person who bought all the coins make some sweet profit. Owning most of the supply will only lead to easy price manipulation by the holder and we don't want that to happen. Instead, if the supply is spread among everyone, we will have a healthy market.

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September 29, 2020, 05:59:27 PM
 #8



The traders selling BTC will sell it for a high price because of the demand while the supply is getting thinner. That 0.00054  BTC of your could be much bigger in USDT value if that happens but don't expect too much because its almost impossible for all BTC to be bought up, there will always be traders who are going to take profit. The miners will still be mining but will however sell them for a high price too.
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September 29, 2020, 06:15:18 PM
 #9

Thoughts. Seems more and more "whales' are getting into BTC

Many are buying up the supply of Bitcoin. Which in turn would make it harder for other people to get.

IF all the supply is bought up. It would make it very hard for others to get BTC.

Now if the whales are buying Whole Bitcoins etc.

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?

Almost like putting a whole Bitcoin at a million dollars while the rest of us end up with Pennies?

thoughts? or would having  0.00054 BTC have lots of value if all the whales bought the entire supply?

Thoughts?
An interesting scenario but things do not work like that, if the demand of certain whales grows then the price has to go up no matter how much they try to disguise their goals, then unlike what you may think many people will refuse to sell their coins making the supply even more scarce making the price to go up even further and this will prevent any attempt to buy all the coins in the market.

Also there is no point in doing something like that, a currency is more powerful the more people use it, why do you think bitcoin is still the best coin in the market when we have thousands of clones already? Because the number of people that use it ranges in the millions while the other coins do not have such a huge user base, as such if a whale got all the bitcoin on the world what good would that be if he has no one else to transact with?

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September 29, 2020, 06:19:19 PM
 #10

Follow the old and ever actual supply and demand law. The "scooping" and HODL'ing of Bitcoin reduces the supply. Thus:

1) Demand stays the same >> Price goes up
2) Demand increase >> Price goes up more
3) Demand decreases >> Uncertain
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September 29, 2020, 06:32:38 PM
 #11

Actually if someone tries to buy all the bitcoins, it would be the greatest thing he could do to all of us, because the price would pump. The result would be that bitcoins will be more valuable and not less. Also, no one can buy them all. Even Jeff Bezos that currently is the wealthiest person alive cannot buy all the bitcoins unless he makes 1 transaction of 18M bitcoins. Since no one owns 18M bitcoins, Jeff will have to buy all the funds from every exchange. This will simply increase the bitcoin's price and fail the task of Jeff to gather all the bitcoins to one wallet.

Simple economic rules.

Same reason pumping and dumping doesn't work with large established assets. The moment you try, you cause the price to go up. You cannot perform a single order to buy all available units, so as you keep buying the price increases eventually locking you out.

The clear answer is this: No one can buy or sell all bitcoins.

What ChrisPop says is a bit inaccurate. If demand = same, fiat is still losing value. Remember this is by design backed by the school of Chicago beliefs, fiat has to lose value for they are scared of deflation. Only the Austrian school would embrace something like bitcoin, the Austrians do not fear deflation unlike everyone else. Deflation is good, break out of your mold and study Mises and friends.

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September 29, 2020, 06:44:13 PM
 #12

The chance of the entire bitcoin to be bought is really an impossible thing to be done by any of the large scale firm. Maybe mining pools can generate more power and keep on accumulating the coins that are to be mined. Very little is available to be mined compared to the entire supply of 21 million.


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September 29, 2020, 06:57:10 PM
 #13

it is too late to buy all the bitcoin supply because the market has already grown too big and if they start buying up the supply the price keeps going up then starts going up exponentially and before you know it after a 5% buy the price reaches $1 million.

what big whales do is usually buying the dips and buying from weak hands when they panic sell. they do it slowly over the long haul to both not push the price up suddenly and to stay under the radar.

additionally not all the supply is for sale to begin with. there are already so many people who have bought so many different amounts of bitcoin.

There is a FOMO brewing...
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September 29, 2020, 06:59:13 PM
 #14

There's no way that bitcoin will be bought by a single person or organization, apart from the total amount of bitcoin they have to purchase there's this massive progressive transaction fee each buy they are going to make. Let's say they buy all the bitcoins, price won't be moving anymore as demand is near zero and supply is locked, they must think they stored all the value but the market for bitcoin will just die.

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September 29, 2020, 07:02:48 PM
 #15

Thoughts. Seems more and more "whales' are getting into BTC

Many are buying up the supply of Bitcoin. Which in turn would make it harder for other people to get.
You are probably referring to institutional investors like Grayscale which holds over 2% of total current supply and regularly increasing their stash, as well as others like microstrategy. Some more of such buys would likely happen as Bitcoin gets more popular and adopted making Bitcoin scarcer, as weak hands sell to stronger hodlers.

IF all the supply is bought up. It would make it very hard for others to get BTC.
Hypothetically, yes. If more bitcoins is bought from exchanges and taken out of circulation, this decreases liquidity and causes scarcity, increasing the value of the asset. Regular trades are always happening on exchanges but a scenario were all bitcoins in circulation is bought up by a single individual or business is highly unlikely, considering the price and market limitations, also, large number of coins are stored off exchanges and not moved around regularly, these can be returned to circulation at anytime.

Now if the whales are buying Whole Bitcoins etc.

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?

Almost like putting a whole Bitcoin at a million dollars while the rest of us end up with Pennies?
If the price of 1BTC rises to $1 million, then, 0.00054BTC would be $540, that is hardly pennies, an increase in value is beneficial to every investor regardless of how much they own.

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September 29, 2020, 07:05:25 PM
 #16

Thoughts. Seems more and more "whales' are getting into BTC

Many are buying up the supply of Bitcoin. Which in turn would make it harder for other people to get.

IF all the supply is bought up. It would make it very hard for others to get BTC.

Now if the whales are buying Whole Bitcoins etc.

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?

Almost like putting a whole Bitcoin at a million dollars while the rest of us end up with Pennies?

thoughts? or would having  0.00054 BTC have lots of value if all the whales bought the entire supply?

Thoughts?

If whales buy a lot of supply of bitcoin that is gonna make the market value of bitcoin increase for sure. And when the market value of bitcoin increases a lot of for sure it is going to be hard for a lot of people to get bitcoin. But in the other hand it has a good effect for the investors that already invested in the bitcoin since bitcoin is going to increases its market value they are going to make a profit and maybe get the opportunity to sell their bitcoin at a good price. Having a lot of investors in bitcoin is a good thing for majority of people.

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September 29, 2020, 07:06:21 PM
 #17

Thoughts. Seems more and more "whales' are getting into BTC

Many are buying up the supply of Bitcoin. Which in turn would make it harder for other people to get.

IF all the supply is bought up. It would make it very hard for others to get BTC.

Now if the whales are buying Whole Bitcoins etc.

Then the value of some of us who just have 0.00054  BTC  have little value in the long term?

little value in bitcoin terms perhaps, but if the entire supply of bitcoins is being bought up by whales, then the dollar value of your 0.00054 BTC will significantly appreciate. it's only worth 5 bucks now. imagine if 1 BTC = $1 million though. it'll be worth $540!

it's simply a matter of supply and demand---strong demand brings higher prices.

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September 29, 2020, 07:11:28 PM
 #18

Now once he is ready to make profit, what if he dumps all the coins? A lot of people will start making losing money while that one person who bought all the coins make some sweet profit.

He can make a sweet profit if he sell all the coins on one transaction. If he won't find a buyer that will accept to take all the bitcoins in exchange with dollars, he will have to start selling on exchanges. This will dump the bitcoin price especially if we're talking about millions of bitcoins. Thus, no sweet profit. Only big loss, to him and us.

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September 29, 2020, 07:47:28 PM
 #19

If whales buy a lot of supply of bitcoin that is gonna make the market value of bitcoin increase for sure. And when the market value of bitcoin increases a lot of for sure it is going to be hard for a lot of people to get bitcoin. But in the other hand it has a good effect for the investors that already invested in the bitcoin since bitcoin is going to increases its market value they are going to make a profit and maybe get the opportunity to sell their bitcoin at a good price. Having a lot of investors in bitcoin is a good thing for majority of people.
When the price goes up I think it's only going to encourage more people to invest like what happened few years ago. The only bad part I could imagine here is the miner fees since it's most likely going to be expensive in terms of fiat.

The whales can't hold the entire bitcoin supply forever, if profit is their main priority eventually they have to spend a bit of it until the supply spreads.

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September 29, 2020, 09:09:43 PM
 #20

I can be sure that no one can buy all bitcoins, because so many bitcoins are still in wallets where the key is gone.
In case bitcoins are bought in large quantities by an organization or individual, the price will probably go up because the supply is scarce, but that is very unlikely.

Also, that's implying that sellers would even want to sell.

If there is a massive initiative (from whomever) to purchase all Bitcoins, I wouldn't be surprised if a few solo/group actors decided to hold on to the Bitcoin to inflate, or save Bitcoin in general.
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