Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: pragna on December 01, 2018, 08:13:03 AM

Title: If the banksters and governments held 90% of the Bitcoin supply, what now?
Post by: pragna on December 01, 2018, 08:13:03 AM

Would it be fair enough to assume that the project has failed, or failing?

90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".

Title: Re: If the banksters and governments held 90% of the Bitcoin supply, what now?
Post by: Fenix on December 01, 2018, 03:25:44 PM

Quote from: pragna on December 01, 2018, 08:13:03 AM

Would it be fair enough to assume that the project has failed, or failing?

90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".

No one will seek to take control of 90 percent of bitcoins. It simply does not make sense, because in this case, investors will switch to using another cryptocurrency and Bitcoin will then lose its value. It is believed that in this case, on the contrary, the demand for Bitcoin will increase due to limited supply. No one will invest huge amounts in the currency, which the next day may fall in price by 70-80 percent.