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Author Topic: What if someone bought up all the existing bitcoins?  (Read 25369 times)
farafaucet
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February 13, 2016, 11:24:11 PM
 #81

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

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bitcoinking5
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July 20, 2016, 02:34:11 PM
 #82

If anyone wants to buy all the bitcoins there must be sellers.so if demand is more sellers will charge so we can earn more in this case
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July 20, 2016, 02:46:58 PM
 #83

just waiting for the day when bitcoins will be $1 million each!!!

and all petrol, dollars, golds, diamonds holder will cry a lot!!!

buy BTC now!!!

ora cry later!!!!

 Grin Grin Grin Grin Grin Grin
why petrol, dollars, golds, diamonds holders should cry when their stuff don't even get affected by bitcoin? bitcoin have nothing to do with those stuff
their wealth value still remain the same even bitcoins reach $1 million price,nothing to be worried for them

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July 20, 2016, 04:24:13 PM
 #84

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
Some btc are not in this world yet, so nobody at least can buy those. And for what will someone need such an amount of btc? I think it will make the price fall, because nobody will use btc much if they belong to one person

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July 20, 2016, 04:36:17 PM
 #85

if anybody by any miracle could buy all the existing bitcoin then he would be bag holding something that has no value because he has all of it in his possession and since nobody else has any, nobody can use bitcoin anymore and it will lose the value Cheesy

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odolvlobo
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July 20, 2016, 08:05:34 PM
 #86

...

...

This thread was started years ago. Anything worthwhile to be said has already been said.

Oh sorry! I didn't realize that you are posting spam in order to increase your post count. Carry on!  Angry

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coinsocieties
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July 20, 2016, 08:09:50 PM
 #87

I would have to say that if someone would buy up all the bitcoin, the value to it would be null.  The reason I would say this is because there is no Bitcoin to be purchased and there is no one willing to take some form of currency that only one person has control over.  If all the bitcoin was bought all the exchanges would have no use to trade it, so it would die at the end.

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July 20, 2016, 08:30:22 PM
 #88

This thread started in 2012 and its been dug back up lol.  Interesting to see what they where talking about back then.  Its obviously fairly obvious now that it would be practically impossible to buy up every coin now.

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July 20, 2016, 08:35:38 PM
 #89

This thread started in 2012 and its been dug back up lol.  Interesting to see what they where talking about back then.  Its obviously fairly obvious now that it would be practically impossible to buy up every coin now.
First I would think that it would also be impossible to buy up all the bitcoin.  There is so much and it would be worth about 14 Trillion dollars.  It is not all mined so that would prevent it and there would always be transaction fees out there that were paid to buy all of the bitcoin. It is interesting reading through all of the back old questions.  I like looking at the ones in which we already see the answers and then look to see who if anyone actually made the correct prediction.  Then you also get to look at all the stupid comments and all. 

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September 20, 2016, 05:49:28 AM
 #90

First of all he think that he is on top of the world but very soon he will feel guilty for buying all bitcoin became when all bitcoin will be bought by a single man then obviously there will be no demand in market and all bitcoin user will move to other cryptocurrencies and final no one will like to use bitcoin. And that old man will weep in grief.
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September 20, 2016, 08:02:54 AM
 #91

If anyone wants to buy all the bitcoins there must be sellers.so if demand is more sellers will charge so we can earn more in this case
yes that is a fact that if the demand is increasing then the price of bitcoin will also increase, but in other side i think a single person cannot buy all the bitcoins as the price of bitcoin is really so high from the range of a single person to buy it.
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September 20, 2016, 08:14:50 AM
 #92

Bitcoin Market Capitalization is around 10 Billion USD today. I think someone with that amount of money wouldn't waste his time on such stupid experiments. But let's assume he'll start buying anyway. The thing is that probably and even most likely the price of Bitcoin would rise so high that 10 Billion USD wouldn't be sufficient to buy even half of Bitcoins existed.

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September 21, 2016, 08:55:36 AM
 #93

If someone buys all of our coins then all of us will have fiat money leaving the buyer with all the Bitcoins. He can either step up his Bitcoin advertisement game and then convince us to buy Bitcoins from him. In that way, he'll earn money and the price of Bitcoin will pump because it would be scarce on the market.

Other things can happen too. Somebody might create a carbon copy of Bitcoins and while we are selling our Bitcoins, he's starting to build up his coin's audience. Making us all migrate to the coin that he just created.

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September 21, 2016, 09:54:33 AM
 #94

It is not possible to purchase all the existing Bitcoins, simply because all of them are not for sale. For example, what about the BTC980,000 which is held in Satoshi's wallets? These coins haven't moved for almost 7 years now, and no one knows whether Satoshi is having the private keys or not. A lot of the early miners were careless with their private keys, and a large number of the coins have been "lost".

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September 21, 2016, 09:56:55 AM
 #95

So that guy hold all bitcoins and bitcoin will be dead because no one wanna buy it. Where will he spend all the bitcoin?

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September 21, 2016, 10:18:52 AM
 #96

If anyone wants to buy all the bitcoins there must be sellers.so if demand is more sellers will charge so we can earn more in this case
I think it is impossible to buy all bitcoin that exist because not all users are selling their bitcoin in exchange. so even though the rich will not be able to buy all bitcoin although he has a lot of money.
and after all, there are millions of existing bitcoin might need about $ 1.2 billion to buy all bitcoin

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September 21, 2016, 11:26:42 AM
 #97

But its possible someone purchase all the bitcoins in circulation, with a low cost, some people would dump their coin now as they can convert into fiat and moove on. But the big owners, miners and early adopters may react and make price crash more.

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September 21, 2016, 11:30:52 AM
 #98

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

This is impossible,but if someone buys all the bitcoins in the world and holds them, the bitcoin

price will become zero and he will lose all his billion dollars invested.

All the bitcoin users will move to some altcoin,i guess.

marleybobthedog
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September 21, 2016, 11:41:49 AM
 #99

I will give up bitcoin and rather deal with other cryptocurrency and that old man well eat his bitcoin and one will be there to buy bitcoin again and final his  property will be his and he will die of the mistake he did.
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