williecity (OP)
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April 12, 2014, 02:57:50 AM |
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Lets say a billionaire decides to buy all the Bitcoin,
or the US government in their attempt to make Bitcoin less relevant decides to buy everything available for sale.
All they need to do is buy a few millions which will be a big percentage of the total bitoin,
and with astronomical price most would have been sold and less community...
could that be the end of Bitcoin?
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No Gods or Kings. Only Bitcoin
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jdun
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April 12, 2014, 03:12:55 AM |
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More likely Bill Gates would produce his own coin. The Melindacoin or Gatescoin or MSFTcoin. He's got the money to market it and make it huge. He would only want to buy all the bitcoin if he wanted to kill it. "Bill Gates hodling always!" Damn you, I want some!
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Mister S
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April 12, 2014, 03:14:15 AM |
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Not at all, even if a single entity were to buy every single bitcoin available to date, then hold them, blocks are still going to be generated until 2140. Meaning there will at least be a steady flow of new coins coming in, even at a lower rate. The price per BTC would raise due to demand, so smaller denominations of bitcoin would be required for transactions.
It's extremely unlikely that any single or aggregate entity would attempt to buy out the bitcoin supply, even after the last satoshi was mined. It would be both unprofitable and ultimately beneficial to the bitcoin community.
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Bit_Happy
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A Great Time to Start Something!
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April 12, 2014, 03:37:51 AM |
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What if Bill Gates buys all the Bitcoin?People will stop talking about China. 
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podyx
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April 12, 2014, 03:56:49 AM |
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If bill gates are buying bitcoin for his 70B networth we are gonna make bank... big time...  |
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bryant.coleman
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April 12, 2014, 03:58:37 AM |
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Bill Gates would never do that. A large part of his wealth (estimated at $ 70 billion) is in fiat cash. If he adopts the Bitcoin and then if Bitcoin replaces, fiat he will lose a lot of money.
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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April 12, 2014, 04:16:25 AM |
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Bitcoin is super thin market , he would drive the price into the 5 figures almost instantly, creating many bitcoin millionaires overnight.
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smoothie
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LEALANA Bitcoin Grim Reaper
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April 12, 2014, 04:42:20 AM |
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He can't as I will not sell mine to him. lol
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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Bit_Happy
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April 12, 2014, 04:52:41 AM |
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What if the owner of Petco tries to buy all the Doggie Coins and CatCoins?  |
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b!z
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April 12, 2014, 04:58:57 AM |
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he won't be buying mine.
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jparsley
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April 12, 2014, 05:04:14 AM |
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That would only shoot btc price up
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please unban me.
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BitchicksHusband
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April 12, 2014, 05:28:07 AM |
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He can't as I will not sell mine to him. lol
I'd sell a good portion of mine! Fine by me. I'd be very rich. |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Elwar
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Viva Ut Vivas
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April 12, 2014, 05:49:40 AM |
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The price for my last bitcoin is $1 trillion.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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chandan123
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Hi
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April 12, 2014, 05:53:57 AM |
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he ( any other ) can invest such money on mining equipements/research to mine bitcoin instead of buyin  |
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Bit_Happy
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April 12, 2014, 05:55:08 AM |
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The price for my last bitcoin is $1 trillion.
I'll think about bidding on that depending on how things go.  |
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bryant.coleman
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April 12, 2014, 06:21:09 AM |
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he ( any other ) can invest such money on mining equipements/research to mine bitcoin instead of buyin Buying will be much easier than mining. First of all, there is no reliable provider who delivers the mining rigs on time. Also it will be quite hard to beat all the mining giants who dominate the scene as of now. |
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Bit_Happy
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April 12, 2014, 06:33:59 AM |
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he ( any other ) can invest such money on mining equipements/research to mine bitcoin instead of buyin Buying will be much easier than mining. First of all, there is no reliable provider who delivers the mining rigs on time. Also it will be quite hard to beat all the mining giants who dominate the scene as of now. I saw something last week about Big $$$ mining: A guy recently started mining ~10% of all new BTC. Obviously he spent a ton of money to start. I think he's in the Western USA, but I lost the link... |
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Equate
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April 12, 2014, 06:42:35 AM |
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Then the coin name will be changed from Bitcoin to Billcoin.
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chandan123
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Hi
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April 12, 2014, 06:43:18 AM |
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he ( any other ) can invest such money on mining equipements/research to mine bitcoin instead of buyin Buying will be much easier than mining. First of all, there is no reliable provider who delivers the mining rigs on time. Also it will be quite hard to beat all the mining giants who dominate the scene as of now. true. But bill gates wont sell mining if his team gets a good hold on making great hashing power. |
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Icardi09
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April 12, 2014, 06:45:38 AM |
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he will make his coin and invest to it, promote it aroudn the world and many whales buy it melindacoin seem nice The price for my last bitcoin is $1 trillion.
I'll think about bidding on that depending on how things go. wow paper money worthless at that time  |
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