Is it possible for somebody to collect all bitcoins?

[CrackedLogic]

Do you think it would be possible for a person/entity to collect all bitcoins?

Like they only buy bitcoins and mine them and accept it as a form of payment.

Is this theoretically possible? it should be right?
what's stopping them?

[1715596232]

1715596232

[1715596232]

1715596232

[1715596232]

1715596232

[Demille]

What's stopping them? Unlimited wealth.

[Baitty]

They would have to purchase those Bitcoins from people who already have Bitcoin so they will be paying a lot of money to get those off people then if they did purchase lets say 100% of Bitcoins then the supply and demand of Bitcoin is not really there any more as 1 person owns the whole of Bitcoin.

[brokedummy]

Somebody could collect a lot yes, all no. Some are lost forever. Some are not for sale.

[CanaryInTheMine]

Do you think it would be possible for a person/entity to collect all bitcoins?

Like they only buy bitcoins and mine them and accept it as a form of payment.

Is this theoretically possible? it should be right?
what's stopping them?

No.
No.
Economics: laws of supply/demand.  You won't have enough resource to acquire scares goods.  you can't live that long at this point in time.

[johnd7]

Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

[str4wm4n]

bitcoins = pokemon

[CrackedLogic]

bitcoins = pokemon

Gotta catch 'em all!

What would happen if somebody collected all of them and they sold 1 bitcoin for like $50000,would you move onto another coin or would you try to get the coins circulating again?

[CrackedLogic]

Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

Lets say all available bitcoins.

[Cryptopher]

They would constantly need to know what is the number of available bitcoins. That figure could change as time goes on during their quest to collect and hoard. Plus how could you prove that the other coins were unavailable?

Added the fact that they would need to wait until all bitcoins are mined, and that the remaining bitcoins would need to be sent with no transaction fee, or hashed by the said person solely.

At least those are some of the assumptions in my mind...

[Yakamoto]

Let's say we have 1 billion dollars and we try to buy all at once bitcoins, but we cant get them all because most of them not on exchanges, it takes 6 months to buy %99 i am sure some people will forget and never sell their BTCs. So practically impossible to see.

Lets say all available bitcoins.

Good luck with that.

Most people hold, and hold, and hold, and hold...

It is IMMENSELY difficult to purchase all BTC in existence, since a lot of coins are still being held by people. Plus it would destroy their own cause, because if you own all the coins, then no-one else wants them, and the price drops to $0, since everyone would have moved to other coins.

They're no stupid, and they thought it out. It won't work.

EDIT: And there have been plenty of threads about this. Go read and search for them. You'll get your answer.

[Yakamoto]

They would constantly need to know what is the number of available bitcoins. That figure could change as time goes on during their quest to collect and hoard. Plus how could you prove that the other coins were unavailable?

Added the fact that they would need to wait until all bitcoins are mined, and that the remaining bitcoins would need to be sent with no transaction fee, or hashed by the said person solely.

At least those are some of the assumptions in my mind...

Well my coins are unavailable, so you got your answer there.

The number is kind of unknown, since an unknown number of coins have disappeared and been destroyed, and so 13 million is just an estimate.

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

[CrackedLogic]

. Plus how could you prove that the other coins were unavailable?

That may be a problem.  Nice thinking though,  although it was quite blatant I don't think i would of thought of that.

[CrackedLogic]

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Lets say this person decided to buy them after 2140.

I it seems like,  I was just quite curious when I thought of that.

[spazzdla]

Do you think it would be possible for a person/entity to collect all bitcoins?

Like they only buy bitcoins and mine them and accept it as a form of payment.

Is this theoretically possible? it should be right?
what's stopping them?

Do you think it would be possible for a person/entity to collect all bitcoins?  No


Is this theoretically possible? No some have been destroyed, someone *could* buy all the ones not destoryed/lost.. but..(see what is stopping them)
it should be right?  ?? I assume you mean is it moral to allow this.. yes it is the idea of capatilsm has been so twisted..
what's stopping them?  My last 100 mBits is $7,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00  So do you know anyone with that kind of $?

[seriouscoin]

what kind of dump shit is this? This forum contains more idiots everyday....

[Cryptopher]

My last 100 mBits is $7,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00  So do you know anyone with that kind of $?

I know a few governments who might be able to have a whip round and generate that sort of figure

[juju]

Do you think it would be possible for a person/entity to collect all bitcoins?

Like they only buy bitcoins and mine them and accept it as a form of payment.

Is this theoretically possible? it should be right?
what's stopping them?

Its impossible because many of us would never sell our coins for fiat currencies. I think alot of us will not spend coins until they are ubiquitous and are spendable nearly everywhere. This diverges from your topic a bit but something that I think people come to realize is you don't want to exchange your Bitcoin for Fiat value, what good is this except to garner more Bitcoin. You want to spend your Bitcoin as is on goods and services. Because of that I don't think anyone will ever be able to buy all of the coins existed.

[Yakamoto]

All the bitcoins will be mined in 2140. Yeah, they're DEFINITELY going to be alive then.

So what exactly have you thought through? This seems like a poor argument.

Lets say this person decided to buy them after 2140.

I it seems like,  I was just quite curious when I thought of that.

What is this? Why are your things mine, and vice versa?

Plagiarism much?

Get it right.

This is still a poor argument, few people will buy all the coins after 2140, and chances are you'll be dead by then.

EDIT: Oh ho ho! Nice trick! Not going to work.

[CrackedLogic]

what kind of dump shit is this? This forum contains more idiots everyday....

You're quite serious about your coin.