Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by alphabettsy on Saturday May 21, 2022 @12:55PM
(#31459525)
Someone buying or selling 5% of all Bitcoin wouldn’t have any impact on its exchange value?
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Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by audleman on Saturday May 21, 2022 @07:42PM
(#31463319)
If they made a bad investment and lost that 5% they couldn't ask their friends in the Bitcoin corporation for a bailout.
No politician could write a few lines of code and grant them a one-time issuance of new coins.
No matter what percentage of coins one person, corporation, or government holds they have gained zero control over the network.
Equality of rules, not equality of wealth.
Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by nightski on Saturday May 21, 2022 @03:58PM
(#31461246)
Of course it would, even if a little. It looks like that is typically less than the daily traded volume. But if you added another 5% on top of it surely it would affect prices. But my point is the ability to affect the price a bit doesn't equal power in terms of control over Bitcoin itself.