Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
happy_merchant
on 06/09/2017, 05:22:17 UTC
I was doing a little research in the BBP Explorer and I'm somewhat worried by the current wealth distribution.

The top two addresses each hold nearly 10% of the supply (12,509,890 and 11,585,552)

http://biblepay.inspect.network/richlist

Based on the transaction amounts in those addresses I would assume both are big miners.

There isn't nearly enough liquidity on C-CEX to sustain large sells if either of those addresses decided to dump...

There also must be some serious equipment working for those addresses to have that many block rewards.

I'm a long-term holder so I'm not going to panic but I thought it should be mentioned here for your input.

One of those I believe is the c-cex receiving address that the charity wallet gets dumped to every so often. You could pretty much just think of it as being c-cex, since it probably represents the majority of the BBP supply currently listed on (or just held at) c-cex. Trades on an exchange don't affect the distribution on the blockchain until funds are actually withdrawn.

The other is probably a mining operation. Not much you can do about that, happens with every coin. Even BTC and ETH have wallets out there with massive balances that could disrupt the market if dumped all at once. In any case, as more miners join the network, the proportion of the hash contributed by any single mining organization will be smaller relative to the network hash rate and the percentage of the total BBP supply held by any single miner or group will shrink (unless they invest a lot of money into additional hardware to keep up, which would also mean they'd be less likely to dump for a low price).