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Author Topic: What if someone bought up all the existing bitcoins?  (Read 30795 times)
RXKING
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June 14, 2018, 05:30:10 PM
 #221

Then there will be no supply and unless that person starts using the coins and people can actually make use of it then the coins will have no value and the person will just have a bunch of worthless coins.It would be self defeating because the coin will have no value. If no-one else has it then it can't be used for anything. Even satoshi didn't claim everything as he knew it would make the project fail
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Liternyy
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June 14, 2018, 05:59:12 PM
 #222

it is not possible in any internet resource you can find information on the distribution of bitcoins is not a small number of bitcoins which are held by purse investors "whales" but the greatest honor among ordinary people is no more than 1-2 bitcoins on the purse
crystalworld
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June 14, 2018, 06:03:22 PM
 #223

It's not possible, although the billionaire have the money to do it. But the accessibility it's not there. Because bitcoin has circled into the hands of millions of people.
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June 14, 2018, 06:40:40 PM
 #224

The rich always seek for where ever riches and wealth are endowed. Yes the rich will continue to be rich but i doubt a rich person will be able to by all the bitcoins in the system. The price of bitcoin in my country is really huge that a rich man/woman will try to buy all theses coins. Looking at the volatility of bitcoin, the rich will always calculate the risk involved first.
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June 14, 2018, 08:50:27 PM
 #225

Although I think it is impossible, I would not be against such an outcome. Just imagine how the price of bitcoin will soar!

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June 14, 2018, 09:15:41 PM
 #226

wow! 2018 is here! and I'm sure it's still not possible
jadcoin161
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June 15, 2018, 08:04:42 AM
 #227

I think that this is simply impossible, even if 100 years pass. 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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June 15, 2018, 08:09:19 AM
 #228

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
I think it is close to impossible for anyone to buy all the bitcoin available in the market.  It will take him so much money that I think no one would actually do this kind of stupid thing or idea. Also you have said that rich keeps getting richer,  well not all of them. Majority of them are consistent for the reason that they have doing what they need to do,  like providing people's need in exchange of their money.  On the other hand,  majority of poor people are just contented on what they have that is why they are stagnant.

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zlatan1989
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June 15, 2018, 08:09:48 AM
 #229

It is not easy to buy all the bitcoin and pieces that are available. As we know the bitcoin value is so big to buy it all must have a lot of money. Some individuals will never buy. Some organizations are also unlikely to buy. I do not think it will happen
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June 16, 2018, 02:50:46 AM
 #230

can not be as rich as any person that i'm sure it's impossible he bought all the bitcoin. try to see if anyone buy all the gold that there is or all the diamond not
egberthill
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June 16, 2018, 02:51:42 AM
 #231

One can buy the entire bitcoin if each and every user sell the bitcoin. In reality it's not at all possible for a single user to have the entire bitcoin. I do not think anyone can buy all. Unless the price of bitcoin goes down.
OscarWatson3213
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June 16, 2018, 03:55:23 AM
 #232

It can be done, but it would potentially cost tens of billions of dollars for one person to buy up that much coins,People will offer steep discounts on the items they sell to get the bitcoin in the hope those bitcoins will go up in value even more.
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June 16, 2018, 04:50:21 AM
 #233

I think one peoples buying all bitcoin in market, there is no fair trade anymore in the future because bitcoin supply monopolized by one person. Its creating not healthy market price and i think it will die soon because peoples dont trust the price anymore 
jadcoin161
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June 16, 2018, 05:09:55 AM
 #234

Surely We can Control the Existence of bitcoin by keeping the bitcoin, and the growth of the community of bitcoin enthusiast is a one key for this, Huge market is not just for bitcoin, there will be a place for some other alt-coins, but we will threat bitcoin as gold.  Bitcoin decentralization a lot, I do not think anyone can buy all. Unless the price of bitcoin goes down.
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June 16, 2018, 08:47:26 PM
 #235

What if someone bought up all the existing dollars?


I thought it was an intelligent assumption, I like that.
Because it really will not happen.
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June 16, 2018, 08:51:35 PM
 #236

Not even summing all companies with the large revenue in the world would have cash to pay for it. Imagine the scenario in bitcoin rising 100% a day, that would be crazy fin world.

If this is happening some day, i would like to have tons of it ande sell for a thousands % of profit! LOL
anrian062
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June 17, 2018, 03:05:25 AM
 #237

For what purpose? that will just make a bubble phenomenon. yes, the price is definitely will go up, but that man will make bitcoin to lose an interest from people. they need that, Bitcoin need attention to increase the value, not just a price. Widely accepted is the primary purpose to make bitcoin great.
If a man has a lot of money, it would be wiser to spend it for marketing purpose to increase the value while stacking up and mining investment for bitcoin
fulled
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June 17, 2018, 01:28:51 PM
 #238

They will control bitcoin price, and thats not good for ecosystem, but practically its imposible to buy all existing bitcoin, many peoples buy bitcoin to keep it, not for sell it back

jhache
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June 17, 2018, 05:54:34 PM
 #239

Will the market isn't worth few billion dollars that any rich person can buy the circulating coins. It's worth hundreds of billions of dollars and once someone starts buying all the circulating coins, the price is going to skyrocket, as the supply starts shrinking the demand is going to go higher and it will directly affect the price.

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June 17, 2018, 06:23:09 PM
 #240

One can buy the entire bitcoin if each and every user sell the bitcoin. In reality it's not at all possible for a single user to have the entire bitcoin. Based on the fact it's not required to think about an user holding the entire existing bitcoin and make it go valueless.
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