What to do with whales?

[Slow death]

we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big

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[CaVO32]

we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big

Their existence is also good for the crypto market. Better mind your own business rather than be worried about what the whales will do to the market. Because whatever they are planning or doing, you can't do anything about it. What you can do for example as a small holder is take advantage of the market and just go with the flow. With the huge amount of money that they need to spend with, I don't think they can truly manipulate the market. They can make a dent in the market, but that would only be short.

[oHnK]

we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big

Their existence is also good for the crypto market. Better mind your own business rather than be worried about what the whales will do to the market. Because whatever they are planning or doing, you can't do anything about it. What you can do for example as a small holder is take advantage of the market and just go with the flow. With the huge amount of money that they need to spend with, I don't think they can truly manipulate the market. They can make a dent in the market, but that would only be short.

There is still something to be done when Whales act in the market.  Follow it and don't be swayed by it, as long as the Whales make various patterns to raise and lower the market just to take retail money like us, we just need to be vigilant.  As long as there are still many whales who don't sell all their crypto, it means the market is fine.  And even though the price is bearish, it's just another Whales momentum buying at a discount.

[eaLiTy]

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There is still something to be done when Whales act in the market.  Follow it and don't be swayed by it, as long as the Whales make various patterns to raise and lower the market just to take retail money like us, we just need to be vigilant.  As long as there are still many whales who don't sell all their crypto, it means the market is fine.  And even though the price is bearish, it's just another Whales momentum buying at a discount.

That is a fairly good point, the fair market will be when the coins are distributed fairly and having more whales is a healthy one rather than a problem. I hate having someone having major control in the platform like some of the few institutional investing firm are having a control in the market. and that is the sole reason i am not able to predict how the market will perform this year.

[kaggie]

If you think there is a good solution to this problem, consider all of the secondary cryptocurrencies that have not solved this problem and make it much worse.  It's not an easy problem to solve, because you are starting with something that has no value but need it to be distributed around the world. There is no fair method to distribute a currency from nil.

Whales do two things:
1) Encourage other whales
2) Discourage other whales

And both are important.
But it is a self regulating problem.
Whales encourage other whales by showing the long term value and potential of bitcoin.
Whales discourage other whales by the concerns in this thread, possibly limiting the broad use of bitcoin.

Bitcoin is the only crypto that has successfully made the initial transition into broader use and distribution, limiting the number of whales that exist. Eventually the value of bitcoin has to be in real world commodities and assets, and if bitcoin remains only in the hands of whales, then it won't make that transition and create its long term success.  Eventually these whales will either consolidate into major institutions (which has mostly happened) or distribute more broadly (which has also happened), both of which are ok for the system.

[topbitcoin]

If already know that sometimes whale control market, why not just take an advantage by it. I mean if know whale can pump market, so we can follow the stream and maybe joined the market too, or if know whale will dump their coins, we can do short or maybe if hold a coin, just make sure we are ready to hold it longer. We can't control them and i think market still can't be easily predicted too although most of circulation is held by whales.

[Webetcoins]

I think the one thing you have to know is that no matter how much that these whales are owning in their wallets, whenever they decide to drop it, there will always be people ready to buy it immediately. It’s not like they will dump it and no one will buy it, people are always ready for it.

So, whatever impact that they might have in the market, although I know that their impact wouldn’t be much because the market has become huge than it used to be before, but whatever impact they may have wouldn’t be something that would last for long. Maybe they can dump it and the price will go down a little percentage, but within a short time or within a day it would still pick up again. So this is no longer a serious threat in the market.

[redsun114]

we shouldn't be worried about the whales, just look at that currently the price can hardly be manipulated unless it is manipulated by some big news, but the whales can't manipulate the price nowadays in my opinion because the market is too big

That is right, the only thing that can affect Bitcoin these days is the news. And it has to be a news that would trigger a lot of people to start selling their coin, and not just any type of news. Even the news these days can hardly affect Bitcoin that much. If the Whales are looking for what to manipulate, then it’s likely going to be altcoins where there isn’t much trading volume and the market cap is small.

Those are their main targets, where they can buy up a huge amount of coins in the market knowing very well that the market cap is small, and then they can dump at anytime and it would cause the market to crash. But that is not for Bitcoin, as Bitcoin is now big and has a huge market cap that would be difficult for anyone to manipulate.

[Lanatsa]

40% of all Bitcoins are owned by just 1000 individuals.

This gives them a disproportionate amount of control over the market as they are able to dump them at anytime.

This is not to mention the high proportion of bitcoins held by miners and exchanges, who may have perverse incentives to ensure that as many people buy up bitcoin as possible and hold it for long enough for the price to rise.

Is there any way to deal with the high degree of centralisation that Bitcoin has?

The advantage of being an early adopter buddy, they are in this position because they believe in the tech and develop a strong will to hold for long term. There is nothing you or anyone can do about it except to accept it. If the demand for btc keeps growing I don't see it as a threat, there will always be buyers ready to pick the btc up, it is only when there is no demand such should be of concern.
Right now with the amount of exposure btc has gained as a result of this war, the awareness has increased so will the demand is increasing, whales are definitely aware of this and understand there are buyers ready to take it from them at any time.

Lets just accept the reality and it is just there are people who couldnt just accept that there would be always those people who are on the top basically just telling about financial capacity which is part of this life cycle

that there would be always someone who is better than you and speaking with market investment.Thing here is that you do know on how to play or ride with the waves on the time these whales make movements.
As for adoption and recognition then this is really something that do progress as day goes by specially on some circumstances which do makes exposure even more.