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Author Topic: What if Bill Gates buys all the Bitcoin?  (Read 3680 times)
Bit_Happy
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April 12, 2014, 06:49:21 AM
 #21

he will make his coin and invest to it, promote it aroudn the world and many whales buy it
melindacoin seem nice  Tongue
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 Shocked

Sad but true.
After WW1: The German economy was so bad that eventually Hitler was able to step up and "save" them.
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April 12, 2014, 06:50:05 AM
 #22

i won't be selling him mine .
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April 12, 2014, 07:05:02 AM
 #23

For instance, we assume that he begins to buy it rapidly -> prices will be rapidly rising -> creating expectation that price will rise even more -> most of market makers will change their price for a higher one -> this will lead to a rise in price even more rapidly than Gates buying them -> there are different scenarios could be taken into account from this point:

1. As already mentioned by others, some people might not sell their coins -> shortage of supply and increase in demand leads to a higher price in short run -> later the "Gates" hype will go down and prices will begin to go down making to panic those guys who didn't sell (opportunity profit goes down) with Bill panicking even more as he is now a great looser, making him sell in loss, therefore driving price down even more rapidly than it went up.

2. Imagine that everyone has its price, and as someone suggested someone will sell their coins for $1 trillion (ceteris paribus, meaning we do not consider hyperinflation of usd), therefore Bill will not be able to buy all coins, and eventually it will lead to the same situation as later in #1 scenario.

3. We imagine scenario #2, but Bill has enough money, therefore he buys/gets every bitcoin(he even hacks those wallets, which passwords was forgotten, and even recovers crashed hard-drives with bitcoins, etc). From here there are possible other scenarios:
    a.) He holds them to produce shortage in supply and increase in demand to make money, as he thinks, but market realises that the prices Bill was buying for actually are not fair -> therefore prices go down, Bill 'loser" sells at loss.
    b.) the same scenario as in 3a, but we imagine that bitcoin community came up with some magical usage of bitcoin, so that it creates unreal demand for bitcoins, price continues to rise -> At some price-levels Bill will begin to cash out, everyone thinks that Bill knew this before, and everyone thinks that he is a smart-ass, W.Buffet is little girl in comparison with Bill.

4. The same scenarios as in 3 (a and b), apart from the fact that buy not Bill but the US government, here we have different approach, imagine that Gov buys not based on financial means but to destroy the whole system, they are printing enough money to buy all bitcoins and not going to sell them at all, not even under possibility of great gain, what do we have from here:
     Very big supply of USD, we are very rich and switching to litecoin Wink  -> weaker dollar, we are very happy -> GOv realises that and begins to switch its economy on bitcoins, and revealing the "TRUE AMOUNT" of USD in circulation (admiting that they were covering this information) -> litecoin rises on this information enormously  -> we are again very rich  BUT everyone else who was holding fiat money are broke -> therefore GOV and many who became rich begin to donate and air drop money, the so-called 'redistribution of wealth' takes place
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April 12, 2014, 08:37:47 AM
 #24

If Bill gates really bought bitcoin, the price will be higher than you can guess.
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April 12, 2014, 08:42:46 AM
 #25

Then the coin name will be changed from Bitcoin to Billcoin.


Gates has to see that!

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April 12, 2014, 09:40:06 AM
 #26

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?

He cant buy ALL the bitcoins EVER. Because I am NOT going to sell a certain part of my holding. Smiley

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April 12, 2014, 09:51:34 AM
 #27

It is obvious that great demand will increase the price , as it makes it rare.
Hence, as Bill starts buying , will find it more and more difficult to acquire the last ones.

This would skyrocket the price .

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April 12, 2014, 11:26:25 AM
 #28

If you buy all the BTCs then the price will drop since no trade would exist ( well if one person has all ). If there is no trade there is no value....
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April 12, 2014, 12:30:02 PM
 #29

If you buy all the BTCs then the price will drop since no trade would exist ( well if one person has all ). If there is no trade there is no value....

You mean if someone buys all gold on earth, then will make it no value??

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April 12, 2014, 12:34:32 PM
 #30

If you buy all the BTCs then the price will drop since no trade would exist ( well if one person has all ). If there is no trade there is no value....

Well... one can't own all the Bitcoins by buying up the available ones from the market. Every hours or so new block are being mined. And it will be impossible to own 100% of the mining sector.



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April 12, 2014, 12:57:17 PM
 #31

If you buy all the BTCs then the price will drop since no trade would exist ( well if one person has all ). If there is no trade there is no value....

Well... one can't own all the Bitcoins by buying up the available ones from the market. Every hours or so new block are being mined. And it will be impossible to own 100% of the mining sector.

The question was " what if Bill Gates buys all the Bitcoins ", even if he owns 99.9991% of the market he is still practically owning 100% of the market ( well mined BTCs ), and assuming that he has cash to buy mined ones ( if they went for sale ), what then. It is better to have half of the market that would give you enough coins to drop the price and then buy cheap...
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April 12, 2014, 12:59:18 PM
 #32

Not possible, the price would start to go Jupiter bound if he attempted this or anyone did.  We wouldn't even see the moon as we passed it.
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April 12, 2014, 01:02:56 PM
 #33

he ( any other ) can invest such money on mining equipements/research to mine bitcoin instead of buyin Tongue

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.

Bitmain tech can deliver in 5 days from payment to the other side of the planet.  I'll never buy a pre order with a lenght longer than 20 days.
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April 12, 2014, 01:50:40 PM
 #34

1) there are 12.636mill coins in circulation.(as of today's timestamp)
2) there are only a few hundred thousand on the "sell order wall" at any one time
3) these sell orders are not all priced below $1000

if gates did TRY, he would only net about 100k coins. but by doing so he would be eating up orders that are priced all the way upto many thousands of dollars.

meaning the other 12.5million+ coins that individuals have, which are not on sell orders would instantly be valued at several thousand dollars each.

it is impossible to own ALL bitcoins, as some smart people are hoarding coins and will refuse to sell no matter what happens right now.

even if these hoarders decided to sell. they would still keep a small token amount purely for the day a billionaire spikes the price to over $100k a coin. buy eating all those sell orderlines.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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April 12, 2014, 03:19:41 PM
 #35

Bitmain tech can deliver in 5 days from payment to the other side of the planet.  I'll never buy a pre order with a lenght longer than 20 days.

But what about the already existing Hash Power? Even if Bill Gates can get as much Hash power as everyone else combined, that means that he has only 50% of the mining market share.



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April 12, 2014, 03:21:56 PM
 #36

Bitmain tech can deliver in 5 days from payment to the other side of the planet.  I'll never buy a pre order with a lenght longer than 20 days.

But what about the already existing Hash Power? Even if Bill Gates can get as much Hash power as everyone else combined, that means that he has only 50% of the mining market share.

yep and in less then 2 weeks other people will buy more miners, meaning he will need to buy more miners to catch up again. and thus you now see the cat and mouse game of mining.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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April 12, 2014, 03:22:53 PM
 #37

That's impossible. There will always be a lot of people who want sell. Or he should give an very big amount for it.
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April 12, 2014, 03:24:13 PM
 #38

yep and in less then 2 weeks other people will buy more miners, meaning he will need to buy more miners to catch up again. and thus you now see the cat and mouse game of mining.

So even theoretically, it is impossible to own all the Bitcoins. Practically, it is impossible even to collect 50% of the currently circulating coins. Even a 10% hoarding will result in prices upward $5K.



.
.BIG WINNER!.
[15.00000000 BTC]


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Rainbot
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A Great Time to Start Something!


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April 12, 2014, 04:50:11 PM
 #39

yep and in less then 2 weeks other people will buy more miners, meaning he will need to buy more miners to catch up again. and thus you now see the cat and mouse game of mining.

So even theoretically, it is impossible to own all the Bitcoins. Practically, it is impossible even to collect 50% of the currently circulating coins. Even a 10% hoarding will result in prices upward $5K.

Few people with that much money are going to just throw it away.
Obviously, slowly collecting more BTC when the market falls is much more effective.
tzortz
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April 12, 2014, 05:04:23 PM
 #40

yep and in less then 2 weeks other people will buy more miners, meaning he will need to buy more miners to catch up again. and thus you now see the cat and mouse game of mining.

So even theoretically, it is impossible to own all the Bitcoins. Practically, it is impossible even to collect 50% of the currently circulating coins. Even a 10% hoarding will result in prices upward $5K.

Few people with that much money are going to just throw it away.
Obviously, slowly collecting more BTC when the market falls is much more effective.


Yes, but who is spending so much when an investment continuously crashing?

All is Mine!

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