Can bitcoin be hijacked by world billionaires???

[Obito]

If they can buy all the bitcoin there is then they can probably "hijack" bitcoin but I don't think that they don't see the point of doing so because they know that when they do it, the prices will rise and a lot of people is going to sell their bitcoin and the price will go down making their bitcoins lower in value.

[AniviaBtc]

By that news, whales will surely buy huge amount of bitcoin that can really affect the price of bitcoin in the market.

Elon Musk or Tesla can really manipulate bitcoin and other cryptocurrencies when they just tweeted something that related to it.

It is hard to deal with big investors especially that they have the power to move the volume and make a trend about a certain crypto.

[(o)(o)ilikeboobs(o)(o)]

Every market has market manipulators. From stocks, commodities, currencies and cryptocurrencies. I believe Bitcoin can also be manipulated by the richest people in the world. But the case of Bitcoin being manipulated by Tesla seems unlikely. The bitcoin market can only move in the long run when history shows it. Bitcoin will be scarce and if someone sells Bitcoin someone else will buy it even if Tesla sells all of their bitcoins. Tesla accepts Bitcoin to pay for electric cars, but not everyone with Bitcoin buys their car and not everyone with Bitcoin will pay Tesla cars with Bitcoin. So we shouldn't worry about Tesla manipulating the entire Bitcoin market.

[davis196]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

Elon Musk is not "world billionaires". He is the richest man in the world,but he doesn't represent all billionaires around the world.There are many billionaires,like Warren Buffet and Charlie Munger,who hate Bitcoin and will never embrace it.Most of the billionaires around the globe are neutral towards Bitcoin.They simply aren't interested,or they know something about BTC,but they don't want to buy Bitcoins.
I don't believe that Elon Musk can control the market and dictate the BTC price.He has influence over the crypto market for sure,but control and influence are two completely different things.

[iram3130]

Nah. It is not posible. Elon can hold a large number of bitcoin but he cant control it. Besides, bitcoin transactions are transparency and people will eventually notice when there is a wallet holding a lot of bitcoin. The price will suddenly drop due to that reason

How can one know a wallet that is holding a lot of bitcoin in it if the owner don't show it to you Just asking because I wish to know this too

No one will show their addresses to anyone else unless you are sending them Bitcoins..

But you can see all the transactions which happen on the blockchain and addresses with their balances. There are analytics companies that track the transactions and can judge whether an address belongs to someone.

To OP, it will not be easy to manipulate the price now as the circulating supply is spread over thousands or hundreds of thousands people.

[Ridwan Fauzi]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

I guess no, at least you have to a lot of bitcoin to can be able to manipulate bitcoin price movement. Since bitcoin is already high and its fee for one transaction is already high as well then I'll bet there will be a few people who will be able to use bitcoin as mean of payment, like buying the tesla car.

Most of them, will only use bitcoin as mean of investment place so as they will sell bitcoin first to money fiat and then they will buy anything they want. By the way this is an old news, we already known it and even this information has given a good move for bitcoin price at that time. Also, I just thinking that Elon Musk intention is he just proof that he is very serious about bitcoin.

[Shasha80]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

Elon Musk is not "world billionaires". He is the richest man in the world,but he doesn't represent all billionaires around the world.There are many billionaires,like Warren Buffet and Charlie Munger,who hate Bitcoin and will never embrace it.Most of the billionaires around the globe are neutral towards Bitcoin.They simply aren't interested,or they know something about BTC,but they don't want to buy Bitcoins.
I don't believe that Elon Musk can control the market and dictate the BTC price.He has influence over the crypto market for sure,but control and influence are two completely different things.

It is true that influencing the market and controlling the market are two different things. Therefore, Elon Musk will never be able to control Bitcoin.
Elon Musk only influences other people to buy Bitcoin or Dogecoin, for now he only focuses on these two coins. And I admit that what Elon Musk
did through twitter had a pretty good effect on the price of Bitcoin and Dogecoin. Especially for Dogecoin, the increase in price is beyond many
people's expectations, I think if there are other rich people like Elon Musk, that's a great thing for the crypto world.

[aprilnot]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

it could have been done, but doesn't it require a large amount of money to do it. and i don't think elon musk will go that far. he just wanted to make the market rowdy and gain influence from the crypto community.

[desmodiAN]

they can buy up most mining power maybe.
but why wuld they. if they own n destroy the current mainnet, probably another clone will be born with a ledger snapshot from before the event. and all prople follow the new clone with the true ledger.

[Argoo]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

In cryptocurrency, in my opinion, it makes no sense to try to concentrate in yourself such a quantity of a certain type of it so that you can completely control it. In this case, market participants can switch to using another cryptocurrency and the abandoned cryptocurrency can completely depreciate.
For bitcoin, this is unlikely to happen, since about 18 million bitcoins have already been issued, which have already spread around the world. Given its high price, this will be very difficult to do.

[iTradeChips]

In my opinion, Elon Musk cannot control the price of Bitcoin. The reason for that is Elon is not the only person in the world that has a huge vested interest in the coin and the cryptocurrency market as a whole. Although I would say that we can be grateful to him that he is one of the few entrepreneurs who is selling his products payable in Bitcoin. Right now with so many corporations around the world starting to take an interest in Bitcoin, we small time traders and investors should also be taking advantage now in stacking all the satoshis because Bitcoin is becoming very expensive.

[nebuch]

Whales has their own differences which makes them unique dealing cryptos though we know what the basic thing they can do. However, billionaire will not hijack bitcoin. Because they are already rich and their are more richer than them in terms of Bitcoin imo. So, billionaire will not waste their time hijacking Bitcoin instead they will make money from their investment.

[Newlifebtc]

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

He can't control the price of bitcoin, there are a lot of individuals who have huge vested interest on the market. It's good that we can purchase Tesla, that is welcoming news indeed. But it won't have any effect as far as crypto holding goes. Institutions, retails investors, average joes can still invest on bitcoin. But it will become a race now as they are really coming into the picture. So for us ordinary investors/traders, we should take advantage and continue to stacks sats as bitcoin is getting scarce.

Exactly my point ,the scarcity will lead to price control on prize hike and it is manipulated by this few elites

[amihada]

bitcoin no one controls even the satoshi who created bitcoin do not have the right to control bitcoin, let alone people who hold bitcoins even in large quantities.

[Gamerholic]

Sooner or later, this would have happened anyway, one way or another it was necessary to be ready for this. Now you need to understand the shares that these companies and private investors buy. If they own significant shares, then of course this can affect the course if they unite in some kind of "club" or somehow begin to coordinate their actions with the purchase and sale of bitcoin. But I doubt that this will happen in the near future.

[ILuckyGuyI]

There is no way for Bitcoin to be someone's personal currency. It's decentralized in the end. Nobody can claim that he/she can own it. And this will always go on like that. People will be able to reach Bitcoin and invest into it very easily.

[Coyster]

Sooner or later, this would have happened anyway, one way or another it was necessary to be ready for this. Now you need to understand the shares that these companies and private investors buy. If they own significant shares, then of course this can affect the course if they unite in some kind of "club" or somehow begin to coordinate their actions with the purchase and sale of bitcoin. But I doubt that this will happen in the near future.

I don't think Bitcoin is synonymous to shares in that exact way were one who owns the largest amount of shares in a company or organization somewhat controls/runs it's affairs, Bitcoin is different, it's users have control and freedom of their coins, I know institutional investors are buying quite a large amount, but that doesn't give them any sort of control, if they dump their coins, the price could fluctuate, but that'll be only temporarily.

The thing is despite the influx of big corporations and companies into the Bitcoin network, it cannot be 'hijacked' by them, if that was possible, then the network wouldn't be absolutely decentralized, which it actually is.

[geegaw]

If they can buy all the bitcoin there is then they can probably "hijack" bitcoin but I don't think that they don't see the point of doing so because they know that when they do it, the prices will rise and a lot of people is going to sell their bitcoin and the price will go down making their bitcoins lower in value.

This sounds really funny, talk about the world's billionaires, they are really giant elephants while we are just small ants but this small colony of ants is overwhelming in numbers, and the elephants that want to attack and take over our territory will be very difficult, in the face of our fierce resistance, their strengths cannot last too much. Besides, they also do not have great ambitions for bitcoin when they are mastering major markets in countries, bitcoin only brings excitement to those who are not rich and want to seek further development.

[udidrone]

I think it wouldn't work like that. Or maybe he only want to show bitcoin adoption so people can really believe bitcoin can be used as transaction and then it can make more people adopted it and then bitcoin price can increased. About to control market, i don't think that can happen easily because there are a lot of people from who ordinary until rich people who hold it too.

[Oceat]

bitcoin no one controls even the satoshi who created bitcoin do not have the right to control bitcoin, let alone people who hold bitcoins even in large quantities.

It's not about who controls, it's all about who HODL and if they would plan to hodl it for too long then that would be great since it will help to maintain the price and I don't think billionaires would waste their money just to secure holding more Bitcoin. Remember, the last Bitcoin that's going to be mined is 100 years from now.

Even if there's a limited amount of Bitcoin circulating the market this would be enough to make Bitcoin price nearly go to 1 sats is equal to 1 dollar. Scarce of Bitcoin makes it more stronger and will affect everything. That means the price will pump beyond to what we could imagine.