Post
Topic
Board Bitcoin Discussion
Merits 6 from 4 users
Topic OP
What to do with whales?
by
MNbag
on 12/10/2021, 15:37:41 UTC
⭐ Merited by DdmrDdmr (3) ,BlackHatCoiner (1) ,davis196 (1) ,titular (1)
40% of all Bitcoins are owned by just 1000 individuals.

This gives them a disproportionate amount of control over the market as they are able to dump them at anytime.

This is not to mention the high proportion of bitcoins held by miners and exchanges, who may have perverse incentives to ensure that as many people buy up bitcoin as possible and hold it for long enough for the price to rise.

Is there any way to deal with the high degree of centralisation that Bitcoin has?