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Author Topic: What if someone bought up all the existing bitcoins?  (Read 28072 times)
webmastax
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September 04, 2017, 02:52:07 PM
 #121

I can't imagine a person who can buy every coin in the blockchain. Bitcoin price will rise exponentially to reach unbelievable rates.
I can't even imagine the price of last bitcoin (If everybody want to sell to this buyer).

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RayvenPierre
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September 04, 2017, 03:04:42 PM
 #122

I dont think that will happen because thinking about it, I don't think that bitcoin is already on its peak. There are still a lot of bitcoins to be mined meaning a whole lot of bitcoins to be added to the market and that means higher chance for the bitcoin price to increase. Also, lot of people are holding their bitcoins waiting for it to reach a price that would really make them very rich and I don't see them selling their bitcoins unless offered with a very very very handsome price.

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September 06, 2017, 11:54:09 AM
 #123

I dont think that will happen because thinking about it, I don't think that bitcoin is already on its peak. There are still a lot of bitcoins to be mined meaning a whole lot of bitcoins to be added to the market and that means higher chance for the bitcoin price to increase. Also, lot of people are holding their bitcoins waiting for it to reach a price that would really make them very rich and I don't see them selling their bitcoins unless offered with a very very very handsome price.
I also agree with you that it will never happen, because the price of one bitcoin is very high and I also don’t think that one person have the investment to buy all the bitcoin as it is in a very large number. And the other thing is that if someone bought all the existing bitcoin, he will also offer if for sale, and if he do not, then there the controller of bitcoin must create more bitcoin to continue the business.
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September 06, 2017, 12:43:37 PM
 #124

I think that this is simply impossible, even if 100 years pass. People will periodically sell bitcoins anyway because they will need money to buy something or they may lose them in the trade.

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kuronokishi10
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September 30, 2017, 09:13:40 AM
 #125

Its not possible to buy all the existing bitcoins,because as you start buying it its amount incrases exponentially,im not talking about 2-3 btcoins,im talking about buying in bulk.
you cant even imagine what would be the price of the last bitcoin,it would be upto the seller as he can ask any unimaginable amount for it.

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jungleMonkey
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October 02, 2017, 03:32:41 PM
 #126

Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.

Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?

I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.  

Please help me understand and ease my mind in regard to this issue.


Thank you

In general, this is one of the main problems)

But I heard about the project, which will allow to change bitcoin to national currencies and at the same time to "destroy" coins. Perhaps this will solve the problem. But I can not find a link to the project. When I find it, I'll throw it off.
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October 10, 2017, 07:36:51 PM
 #127

Very ineteresnaya topic for reflection. Especially considering that out of 21 million possible, only 12 million were mined, and this is for 8 years of existence of bitcoin. So buying all existing bitcoins will not happen soon, as with each new buyer its price grows, and buy more of its number is more difficult and more difficult due to the price increase.

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October 10, 2017, 07:44:11 PM
 #128

Despite the fact that it is old thread, I was looking for something similar or was going to create one myself. But now I'll post my opinion here: I think that won't happen and there are some reasons: 1. Some bitcoins are lost and are loosing (because of someone's bad memory). 2. There are some types of people here who only hold and don't sell bitcoin, they don't look it like money and I know similar persons. 3. When exchanger or someone sees that one man buys all bitcoins, this exchanger will unbelievable grow price and it will be difficult and possibly impossible to buy all of them.

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