Quote:
Originally Posted by jscott
Does owning a lot of bitcoin or a little change the way a BTC can be traded?
Sure those whales have advantage over everyone. But the mechanics of bitcoin is the same for everyone
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it does not affect the mechanics of the system in any way...whether bitcoin crashes or skyrockets the mechanics stay active...
the problem is you do not know who those 0.6% are who hold 90% of the coins...you do not know how cheap/expensive they got those coins and you do not know whether they will decide to dump the living fuck out of them if they decide bitcoin is a threat to them...they own 14million coins...dumping just 500.000 would cause a total destruction of the system...
they have the "off" switch to peoples trust in bitcoin...the system will be fine, you will still be able to transact, but bitcoin may be worth 10cents...