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Can a wealthy person buy all bitcoins ?

Discussion in 'CryptoCurrency' started by krishnaverma, Apr 12, 2019.

  1. NNemessiSS

    NNemessiSS Newbie

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    This is not possible all people must sell their bitcoins , but technically yes
     
  2. Yosber

    Yosber Newbie

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    JAJAJAJA, I loved it
     
  3. Yosber

    Yosber Newbie

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    I would say that the person does have enough money to buy all existing bitcoins and to exist. In one way or another if you could have all, since if you have enough money you can modify or create large mining farms. Giving itself the manipulation of the blockchain. If you want, make all the people transfer their balance to your wallet. But this is difficult. Very difficult
     
  4. IAmNotLegend

    IAmNotLegend Jr. VIP Jr. VIP

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    I guess it's not about owning the 51% of Bitcoin. It's about the hashing power to be 51% of total to be able to do whatever you want to.
     
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  5. Zbigniew

    Zbigniew Regular Member

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    Lol, and he is actually just copy pasting from quora. One time he forgot to delete the hyperlink. Can't even bother to write one simple sentence on his own :D

    He's been doing this for a long time. It's to promote his signature I guess. When one line in his signature is free, then you'll see that he will create these threads more frequently l0l
     
  6. isabellaemilyava

    isabellaemilyava Newbie

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    No, bitcoin operates in a niche market. Bitcoins are bought and sold to customers and clients who are capable of making digital transactions in block chains ledger. It is possible for one individual to buy the bulk of bitcoin. Although, I doubt it! Who would risks all for nothing?
     
  7. Metatrons Cube

    Metatrons Cube Junior Member

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    Dumb question (even worse if copy pasted from Q, the home of dumb questions about crypto) - answer is no you practically couldn't, many bitcoin have been defacto-locked into addresses by people losing their private keys or sending to the wrong account.

    This would also kill the value of Bitcoin instantly because the thing which gives it value is that BTC can be used as an effective medium of exchange between a wide userbase. Value has increased since 2008 in proportion to adoption, so it would be like reverting back to one day after the BTC blockchain was launched by Satoshi. The combined value of all Bitcoin when owned by a tiny number of people is somewhere between zero and almost zero.
     
  8. Neuros

    Neuros Regular Member

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    A single one? No, I doubt it.
    In the end why they would want to buy it lol
     
  9. DuglasWI

    DuglasWI Newbie

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    Does anybody tried to trade on forex by using crytocurrency pairs?