Quote from: Sollaes on October 13, 2021, 03:30:09 AM

Quote from: MNbag on October 12, 2021, 03:37:41 PM

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?

I don't think that 40% in hands of 1000 people is a sign of centralisation. Moreover, everybody know that Bitcoin is the most decentralised one. But actually, whales on crypto market is a real problem as if we are talking about small market cap coins, they are really subjected to impact of whales that can pump or dump the price very easily and nobody can deter them.

Truly the 40% bitcoin owned by the 1000 individuals wouldn't centralized it, bearing in mind that thevwhales can't collectively decide to dump or sell all their portfolio at the same time, or once that is not possible, it is individual decision whether to continue to hodl or sell thus wouldn't have any impact on the price of coin if any of them decided to sell their portfolio, I think individual adoptions has a large proportion too thus the era of panicking whenever a whale dump or sell their coin has waned.