erre (OP)
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October 14, 2014, 01:09:46 PM |
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I've been off of the forum for some time, and I was just wondering if the btc distribution of wealth (very few people owning a lot of coins, opposite to a lot of people with poor accounts) has changed, considering the " bubble" , gox etc. I'm not able to analyze the blockchain by myself. Someone can help me satisfying my curiosity?
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Unbelive
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Invest & Earn: https://cloudthink.io
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October 14, 2014, 01:15:16 PM |
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I think is same. top100 holders matter all the rest are peanuts.
If any of top100 holders fart, bitcoin price collapse.
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erre (OP)
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October 14, 2014, 01:20:35 PM |
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
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dothebeats
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CoinPoker.com
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October 14, 2014, 02:02:01 PM |
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The bitcoin wealth distribution is very uneven. A user who holds tens of thousands of btc who sells most of his/her holdings may likely drive the price down, which is not good for those die-hard bitcoin holders out there.
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MF Doom
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October 14, 2014, 03:09:55 PM |
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The bitcoin wealth distribution is very uneven. A user who holds tens of thousands of btc who sells most of his/her holdings may likely drive the price down, which is not good for those die-hard bitcoin holders out there.
Exactly the problem with all currencies, the 1% that control the most wealth. Looks like bitcoin is no different  |
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erre (OP)
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Activity: 1666
Merit: 1205
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October 14, 2014, 03:16:57 PM |
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The bitcoin wealth distribution is very uneven. A user who holds tens of thousands of btc who sells most of his/her holdings may likely drive the price down, which is not good for those die-hard bitcoin holders out there.
Exactly the problem with all currencies, the 1% that control the most wealth. Looks like bitcoin is no different First of all: no. The btc distribution, if unchanged, is bad even if compared to usd or eur (ok, probably Zimbabwe dollar is even more unfair, but that should be not our target). Second: btc need to be adopted by a large mass of people in order to sucess, it's not supported by banks or governemnts like fiat, it's supported only by trust (trust that some1 will accept my btc for something valueable, even if no government force him to do so). |
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Justine
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October 14, 2014, 03:52:04 PM |
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I think is same. top100 holders matter all the rest are peanuts.
If any of top100 holders fart, bitcoin price collapse.
Reason why they will not do something stupid and harm their own financial interest. |
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tripppn
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October 14, 2014, 05:03:24 PM |
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I think is same. top100 holders matter all the rest are peanuts.
If any of top100 holders fart, bitcoin price collapse.
Reason why they will not do something stupid and harm their own financial interest. Exactly. One nice thing about whales is it's not easy for them to get out without destroying the market causing their own investments to be with less and less. Whales need to be smart and patient when selling otherwise they hurt themselves just as much as everyone else. A disciplined investor will sell over a LONG period of time in small increments to not make waves and collapse the system. Unlike what I believe happened with that $8mil sell wall that up for a few days, that's just manipulation keeping the price down so they can acquire more at the price they want. |
“You can't be a real country unless you have a beer and an airline - it helps if you have some kind of football team, or some nuclear weapons, but in the very least you need a beer.”
― Frank Zappa
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kutaka
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October 14, 2014, 05:05:21 PM |
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Rich gets richer, poor gets poorer. Unfortunately, this is how the world works, and believe me, it will only get worse with time.
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MrBig
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October 14, 2014, 05:29:11 PM |
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One of the reasons the BTC price is very volatile is because of it's distribution and the ability of large holders to easily affect the price due to their actions. They don't necessarily have to destroy the market by their actions, as one user noted above, but the volatility that comes with a few users controlling most of the coins is definitely not good for you average Joe who may be looking to purchase a coin or two and then losing most of the value in a short period of time.
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AtheistAKASaneBrain
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October 14, 2014, 05:45:09 PM |
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Rich gets richer, poor gets poorer. Unfortunately, this is how the world works, and believe me, it will only get worse with time.
This is the fundamental for any economic system including Bitcoin. We are all just helping whales continue living like kinds while the rest of us have hopes of Bitcoin ever being high enough to at least retire us from the health destruction that is going to work. Let's all hope together. |
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sed
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October 14, 2014, 05:48:45 PM |
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
I don't think the distributions is "unfair" nor is it a matter of "design". It's quite fair as anyone who solves a block gets a substantial amount of btc no matter who that person is. The fact that early adopters have more is an accident of history, not the design of the btc. |
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DhaniBoy
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October 14, 2014, 05:53:38 PM |
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I think the distribution of bitcoin far is less prevalent, just focus on one of the big collectors only, while the collector who received less small role in the distribution of bitcoin, bitcoin major collectors have a large number of bitcoin is not distributed properly, so that the capitalist bitcoin ensued, collecting besarpun monopoly on the case, so there is no difference between cryptocurrency currency with fiat currency of a country ... hopefully that bitcoin there can now be distributed properly ..  |
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panju1
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October 15, 2014, 01:13:52 PM |
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Even if you had given all the people in this world 0.001 BTC on day 1, after a period of time the distribution of bitcoins would change and become 'unfair'.
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wangxinxi
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October 15, 2014, 02:20:33 PM |
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It satisfies a power law distribution.
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Turnkey
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Activity: 66
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October 15, 2014, 02:37:13 PM |
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I think is same. top100 holders matter all the rest are peanuts.
If any of top100 holders fart, bitcoin price collapse.
yeah...when you see a list of big stake holders then there is always fear that someone might decide to dump it for fiat. |
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R2D221
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October 15, 2014, 02:38:11 PM |
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people. |
An economy based on endless growth is unsustainable.
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wangxinxi
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October 15, 2014, 03:10:33 PM |
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people. Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich. |
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R2D221
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October 15, 2014, 03:23:46 PM |
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people. Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich. Are you saying that thanks to the government, we're not that poor? That's an odd point of view, considering at least the poverty of my own country, Mexico (home of the richest person in the world). |
An economy based on endless growth is unsustainable.
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wangxinxi
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October 15, 2014, 03:28:19 PM |
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people. Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich. Are you saying that thanks to the government, we're not that poor? That's an odd point of view, considering at least the poverty of my own country, Mexico (home of the richest person in the world). I don't know the situation in Mexico. But for China, even thought it's still a developing country, it still supports people who do not have a job or have really low income. |
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