What if someone wants to buy out Bitcoin

[Bitcoin Magazine]

Like acquire all 21 million coins.  Then what?   

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[ganabb]

21 million coins will cost trillions. No ones has trillions.

[Malin Keshar]

not all coins are for sale. Not all coins are avaliable(lost private keys issues)

[coinsolidation]

You mean like the hunt brothers did with the silver market?

[aboo]

I dont think its possible since no one has those kinds of funds to start with.. lol.

You have to be a 1% to even those crazy things.

[Remember remember the 5th of November]

I dont think its possible since no one has those kinds of funds to start with.. lol.

You have to be a 1% to even those crazy things.

And yet nobody mentioned that the rest of the coins have not been minted yet.

[DrG]

Some people will not sell the coins even if they were 100K USD presently.  Whoever wanted to buy all the coins would have to have government sized wallet

[bitkilo]

How would you find Satoshi to buy his million or so coins that he apparently mined in the very early days.

[Acidyo]

They can buy my coins off my dead body!

[OptimusPrime7]

Like acquire all 21 million coins.  Then what?   

Only government have that money. But why would they want bitcoin for since they are auctioning them off

[Bitcoin Magazine]

Like acquire all 21 million coins.  Then what?   

Only government have that money. But why would they want bitcoin for since they are auctioning them off

well Dunkin Donuts only accepts checks and personal money orders.  no bitcoin

[odolvlobo]

Like acquire all 21 million coins.  Then what?   

If somebody bought all the bitcoins, then Bitcoin would become useless and the value of those 21 million bitcoins would be 0.

[sgbett]

I know for a fact, no matter how high the exchange rate goes I will always keep some. There isn't any point whatsoever in selling all.

Even if your goal is to get loads of fiat, there just comes a point when you have so much that it becomes pointless to even bother selling any more.

Say you start with 10BTC, Every time the price doubles you sell 10% of your BTC stash.

BTC Stash   Price   BTC Sold   $ stash
10.000000   $1000.00   1.000000   $1000.00
9.000000   $2000.00   0.900000   $2800.00
8.100000   $4000.00   0.810000   $6040.00
7.290000   $8000.00   0.729000   $11872.00
6.561000   $16000.00   0.656100   $22369.60
5.904900   $32000.00   0.590490   $41265.28
5.314410   $64000.00   0.531441   $75277.50
4.782969   $128000.00   0.478297   $136499.51
4.304672   $256000.00   0.430467   $246699.11
3.874205   $512000.00   0.387420   $445058.40
3.486784   $1024000.00   0.348678   $802105.13
3.138106   $2048000.00   0.313811   $1444789.23
2.824295   $4096000.00   0.282430   $2601620.61
2.541866   $8192000.00   0.254187   $4683917.09
2.287679   $16384000.00   0.228768   $8432050.77
2.058911   $32768000.00   0.205891   $15178691.39
1.853020   $65536000.00   0.185302   $27322644.50
1.667718   $131072000.00   0.166772   $49181760.09

I'm not saying BTC will be worth over $100m a coin, I'm saying if someone tries to buy it all, then it pushes up the price. Any sane person when seeing the price rise so far should take profits. Sure you could cash totally at any time, but why would you? at $1m a coin you already have $800k in the bank. You can cash out the rest to get $3m to $4m but going from $800k to $4m is hardly life changing, and in doing so you expose yourself to the risk of being totally short BTC. Instead wait for a few more doubles, you got your 4m in the bank and you still have $10-$20m in BTC. All of these figures are total pie in the sky, but that is what a market buyout would be facing. Pie.

I can't be the only one that thinks like this, ergo, nobody can corner the market because they will run out of money, because the asking price will go too high. Greed makes you sell, but fear (of missing out) is stronger and will make you hold something.

[Yakamoto]

Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.

Ok so #1; We're closing in on 13 million coins. Barley half. Impossible to buy out Bitcoin fully.

#2; The current market cap is 7 billion dollars. So it's going to be hard for most people to buy out BTC via buying all of them.

#3; If someone bought all 21 million, they would lose 99% of their money, and the community would proceed to buy up other alts such as LTC, or DRK.

#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.

However, I have a hard time believing everyone would sell their BTC to a single person or small group of people. Most people would hold unless it was a REALLY good offer.

That's why BTC hasn't been bought out yet by bankers or so, they know if they try a stunt like that, they'll get shot down because of the simpleness of creating alt coins. If they buy up BTC, there's LTC, DRK, DOGE, NXT, NMC, PPC, I can go on and on...

[ThatDGuy]

Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.

A rare sighting of the mythical triple negative in the wild.

I really want to read what you're writing, but come on man.

[Benjig]

Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.

Ok so #1; We're closing in on 13 million coins. Barley half. Impossible to buy out Bitcoin fully.

#2; The current market cap is 7 billion dollars. So it's going to be hard for most people to buy out BTC via buying all of them.

#3; If someone bought all 21 million, they would lose 99% of their money, and the community would proceed to buy up other alts such as LTC, or DRK.

#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.

However, I have a hard time believing everyone would sell their BTC to a single person or small group of people. Most people would hold unless it was a REALLY good offer.

That's why BTC hasn't been bought out yet by bankers or so, they know if they try a stunt like that, they'll get shot down because of the simpleness of creating alt coins. If they buy up BTC, there's LTC, DRK, DOGE, NXT, NMC, PPC, I can go on and on...

Yes, if someone buys all the bitcoins its like hes paradoxically taking away the value of bitcoin itself, because for a currency to have value it must be distributed along many people.
Anyway with bitcoin its more difficult because of the several decimals but its the main idea.

[sgbett]

#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.

mathemagically sound reasoning prevails

[GangkisKhan]

Unlikely to happen as people with this kind of wealthy know monopoly will kill the value.

[twiifm]

Wait, so did no-one REALLY not say that all 21 million coins haven't been minted? Yeesh.

A rare sighting of the mythical triple negative in the wild.

I really want to read what you're writing, but come on man.

Yes take a photo before he disappears

[odolvlobo]

#4; The potential market cap is $2.1 TRILLION dollars. That's 1,000*21,000,000. Good luck buying all of that. I have doubts even Bill Gates could afford it all. And that'd put the US even further into serious debt if they bought them all.

mathemagically sound reasoning prevails

You are being sarcastic, of course. $1000 times 21 million is $21 billion, not $21 trillion.

As for #1, it is not impossible to buy the 8 million unreleased bitcoins. Instead of buying them directly for perhaps $8 billion, a person could buy $8 billion worth of mining equipment and mine the rest. At current prices, that amount of money will get them 6.4 billion GH/s and 99.8% of the hashing power.