What to do with whales?

[zasad@]

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?

Whales do not need to give up Bitcoin, because they have not yet come up with an easier and more legal scheme to take money from hamsters.
You should try to learn to analyze the markets and not trade with leverage, because this is the most common way to lose your coins.

[syedakhlaque]

 whales are the uniqueness of this business. whales are to face bravely. This is the part of the game. This is also called jump and dump etc.
Through whales, some persons in this business get enough But at the same time, some get lost.
whales also provide an opportunity to the low-income persons or poor for a sudden rise. This is also the grace of this business So do not worry about whales but start facing them  with Masculinity

[Ararbermas]

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?

no one can stop whales from dumping especially if the price is really too high. For me the best things to do on it is to ride what they're doing, i mean when you see a strong uptrend buy if you're not late then when you see a small fluctuation always execute your take profit strategy, then wait for confirmation to buy again if it will continue to rise, if not then don't ever place another order from it because surely it will make more correction.. Whales always make hype when they see it's crowded but if not, expect there will be a massive correction that can lead you to a massive losses as well. So be smart because no one can really predict when whales gonna manipulate the market it's very unpredictable to be honest..

[BIT-BENDER]

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?

Whales having that amount not bitcoin doesn't make bitcoin centralized, because you and I when we have the capital can be whale's as well, bitcoin can be used to purchase many crypto-currency so bitcoin is not in any limited amount, so I don't think the whales have 50% control of Bitcoin so it's still a decentralized crypto-currency, but the believe whales have in bitcoin wouldn't make them sell off at the same time.

[mindrust]

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?

You can't do anything about it. Probably 1000 people own most of the world wealth too so It is not surprising that something similar is happening with btc. That's called capitalism. And the opposite where everybody shares everything would be communism. If everybody had the same amount of money, either everybody would have Ferrari's or nobody would have any cars. Some people must be poor so some others can be rich. That's how it works.

[Vaskiy]

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?

You can't do anything about it. Probably 1000 people own most of the world wealth too so It is not surprising that something similar is happening with btc. That's called capitalism. And the opposite where everybody shares everything would be communism. If everybody had the same amount of money, either everybody would have Ferrari's or nobody would have any cars. Some people must be poor so some others can be rich. That's how it works.

Well said about the working principle of the world economics. It is impossible to have uniformity with everything. Above quote clearly portrays the reality of the market. Let us assume the 1000 individuals owning the most wealth of the world are the most bitcoins holders. The common public is the nodes, just because of the bitcoins got hold within those 100 people these nodes doesn't stop its functioning. The process keeps running unlike the holding.

[Slow death]

there is nothing you or anyone else can do, the rich are free to spend their millions of dollars buying bitcoin, if you look you will notice that it has even become fashionable for some people or companies to display that they hold many bitcoins, this has become a competition for the rich . the concern would be:

on the day that those who have so many bitcoins start selling how will it be?

maybe they sell in a way that doesn't hurt the price, maybe

but still worrying that a small group holds too many bitcoins

[Kakmakr]

There are currently 2,755 billionaires and 20 million Dollar millionaires in the world .....with a global population of 7.753 billion (2020)... would you say that those people are centralizing money in the fiat system?

You do not know how many people have split up their coins in smaller chucks to look less of a target to hackers and how many of those wallets are owned by businesses and trusts and not owned by individuals. 

Bitcoin wealth are more distributed ...compared to fiat wealth... 

[mindrust]

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?

You can't do anything about it. Probably 1000 people own most of the world wealth too so It is not surprising that something similar is happening with btc. That's called capitalism. And the opposite where everybody shares everything would be communism. If everybody had the same amount of money, either everybody would have Ferrari's or nobody would have any cars. Some people must be poor so some others can be rich. That's how it works.

Well said about the working principle of the world economics. It is impossible to have uniformity with everything. Above quote clearly portrays the reality of the market. Let us assume the 1000 individuals owning the most wealth of the world are the most bitcoins holders. The common public is the nodes, just because of the bitcoins got hold within those 100 people these nodes doesn't stop its functioning. The process keeps running unlike the holding.

I don't know why people expect to be very rich by doing nothing. Those 1000 people holding a huge amount of risk by holding bitcoin. Whether they bought when bitcoin was under a dollar or 1000 usd, it doesn't matter. If btc goes down by 99% tomorrow, they are all fucked. Right now they are rich as fuck because they are getting rewarded for the risk they are carrying.

[Coyster]

As a Bitcoin user, I'm pretty much not concerned with how many percent of Bitcoin is owned by whales or institutions, it's not like Bitcoin is a pump and dump coin that you have to be worried about people selling their coins, even if people who have large amounts of Bitcoins decide to sell it all away, it can only affect the price of Bitcoin for the short term, as it'll definitely appreciate back up again with time. Having said that, there is no way to deal with this OP, you can't control or stop people from buying Bitcoin as they like, all you have to do is buy at your pace and hodl, the coin has an actual use case, thus if you believe in the network there is really nothing to be worried about.

[Quidat]

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?

Whales having that amount not bitcoin doesn't make bitcoin centralized, because you and I when we have the capital can be whale's as well, bitcoin can be used to purchase many crypto-currency so bitcoin is not in any limited amount, so I don't think the whales have 50% control of Bitcoin so it's still a decentralized crypto-currency, but the believe whales have in bitcoin wouldn't make them sell off at the same time.

We couldnt really tell but this is way more better than with traditional assets or stocks on where they could really somewhat make it as some sort of monopoly or they could really control it most of the time but its true that with this market then it is somewhat not really that possible
even though they could really still make some impact but not really that much of a concern even you are just a small fry you could still able
to ride with the waves and take advantage with these movements.

[Ziskinberg]

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

The best thing to do is that we have to work with them together coz there is no way to stop them, that is the fact. And I think you couldn't deny that you are also benefiting from the high and low that they have created.
I know we think that they take control of the market price but that is really how it works and that is why we have to go along with these people. They can make huge changes if they want as they have the capabilities but it doesn't mean that they control everything in the market.

[worle1bm]

You cannot make your comparison with whales and still if they hold major portion of bitcoins in circulation at this time the btc still remains decentralised as you cannot make it like other altcoins in the market.With increase in prices the and and supply being limited the whales will be able to acquire less and less even at high paying budgets also.The best you can do is to make investment on your basis and what you can do and rest leave this as nobody is going to stop investing and there are only 21 million of them available.

[davis196]

I think that OP is mistaking centralization with concentration.
Bitcoin being centralized means that the blockchain can be controlled by a small group of individuals or an entity,who can change the protocol.This isn't the case.
Large portion of BTC is being concentrated in the hands of a few early adopters,crypto whales,miners,exchanges.This is true and those people can influence the Bitcoin price and manipulate the market,but there are two things to consider:
1.They don't want the Bitcoin price to crash to extremely low levels,at least most of them don't want this.
2.They aren't united.Having 100 or 1000 crypto whales doesn't mean that they will act as a team.Most likely they will compete against each other.

[virasog]

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?

First you need to be clear that bitcoin is not centralized. Bitcoin is only crypto currency which is decentralized in true sense. Also it does not matter if 40% of the bitcoins are owned by 1000 individuals. They won't dump them together and even if few of them did, there are too many people who will be willing to buy cheap and hence don't expect the price of bitcoin to fall too much.

[awik p]

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?

First you need to be clear that bitcoin is not centralized. Bitcoin is only crypto currency which is decentralized in true sense. Also it does not matter if 40% of the bitcoins are owned by 1000 individuals. They won't dump them together and even if few of them did, there are too many people who will be willing to buy cheap and hence don't expect the price of bitcoin to fall too much.

if the price of bitcoin will continue to soar, it seems certain, especially now that few people understand bitcoin around the world. the 40% control is not a worry if they keep it, and that means helping the price increase. but here there are different human natures, and have different needs, so their actions towards the btc they have will not be the same

[wemakereview]

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?

You should pick a better term since people usually mean "centralization of the network" when they speak of Bitcoin centralization.
Not agree! Just because some people have more Bitcoins than others does not mean the centralization of the market.

[gabbie2010]

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?

I don't think that 40% in hands of 1000 people is a sign of centralisation. Moreover, everybody know that Bitcoin is the most decentralised one. But actually, whales on crypto market is a real problem as if we are talking about small market cap coins, they are really subjected to impact of whales that can pump or dump the price very easily and nobody can deter them.

Truly the 40% bitcoin owned by the 1000 individuals wouldn't centralized it, bearing in mind that thevwhales can't collectively decide to dump or sell all their portfolio at the same time, or once that is not possible, it is individual decision whether to continue to hodl or sell thus wouldn't have any impact on the price of coin if any of them decided to sell their portfolio, I think individual adoptions has a large proportion too thus the era of panicking whenever a whale dump or sell their coin has waned.

[BlackMan8]

Whales are inevitable. There will be whales at any time, and we cannot do anything to them. When the price of Bitcoin gets higher and higher, we will also consider whether we still choose to sell Bitcoin or continue to hold Bitcoin. But most people will continue to insist on holding Bitcoin. We can only manage ourselves. Don't do unnecessary research.

[KaliLinux]

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?

I believe it is a natural life balance. Nothing will ever be equal in terms of ownership or distribution amongst everyone. Even with this 40% of all Bitcoins are owned by just 1000 individuals, this doesn't mean that the rest of the investors in Bitcoin have not been able to make profits from whatever amount they have been able to invest and if you have enough financial power to make you a whole, you can be that any time you want cos we still hear of people buy millions of $ worth of Bitcoins.