Is This Even A Possibility? Can This Destroy The Crypto Market?
Through all my research, videos and blogs about crypto, I have not seen anyone explain what could end the crypto markets faster than if the creator or creators sell all their holdings.
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Please tell me if I'm wrong in the comments. We're all still learning in some way.
So there is a person or persons who created Bitcoin called Satoshi Nakamoto.
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It is said that that person or group has up to 1 million Bitcoin. That's over $20 billion.
If that is true, that person is now one of the richest people in the world. Technically that person would also have a million Bitcoin Cash and Bitcoin Gold and so on. Not to mention all the Stellar Lumen airdrops and things like that.
What would happen if that person or group decided to sell all of it? All at once?
I am positive that would have a tremendous impact on the markets.
I don't know why he would want to do that, but if it is some group that is trying to get rich, they should just leave it alone. lol
It does scare me that something like that could happen and cause a domino effect and we lose it all. I may be getting paranoid as I put more time into learning and teaching with crypto.
There is just so much we don't know about all of this and it is so new that it is insanely exciting. I can't stop wondering and thinking about how things will grow into the future. My thoughts are not based on profits I could make, but how the technology can be applied in the future and adopted by the public.
The first crypto that can make it easy for people to use and secure will win. The one that people will alter their life for. Think of the credit card. When they were first used they were slow and people didn't use them as often. Then when the Internet came along and people just had to swipe it, things changed.
Now just about every working adult has a credit or debit card in their wallet or purse.We are a long way from that kind of adoption and we are working our way there, but it does bother me that someone or some group could just send the markets in a tail spin with a few sell orders.
Am I paranoid or do you think something like this could happen?
Even if it did happen, do you think the markets still survive?
Let me know your thoughts in the comments below.
Thanks for reading.
That is pretty wild that Satoshi has not sold one BTC. It shows that he really believes in the project and wants to see it flourish. I think it is more about the ideologies and seeing it go mainstream over the profits that can be made. Just my opinion though...
Nobody holding that much bitcoin would ever sell everything at the same time. It wouldn't benefit them to sell at cheaper prices all the way down.
If he sold them all at once, if he could even find enough buyers all at once, that would mean other people would have to be willing to buy all of his bitcoins at once. For every seller there is a buyer, it might drive price down of course but I don't think the market would collapse, it might even improve if all those bitcoins were now redistributed among all the people who bought them and instead of just sitting in a wallet somewhere they were being traded back and forth. Basically it would just be adding to the liquidity of the bitcoin market. The price would recover I believe.
Great reply and great points. I agree it could help. It could destroy the faith too I guess possibly. Like a ceo of a company dumping all of their stocks, it will send a bad message. The entire crypto community is based off of faith and accepted price. It's cool to think about these crazy scenarios, but I doubt it will ever happen. Thanks for the great reply.
It is not going to happen because the person/people who developed Bitcoin are geniuses who also have an ideology.....to decentralize the currency so the financial institutions that created the market crash of 2008 have less power.
That said, there is some reason for fear...supposedly for the segwit B2X happening tomorrow - Dec 28th, the creators of B2X are also going to distribute the 1 million bitcoins of Satoshi Nakamoto to the present BTC holders. I have to think that this is not true; creating FOMO. We'll know tomorrow!
He will not sell all at once. That will ruin Bitcoin, and I think that is the last thing Satoshi Nakamoto wants to see. He has a lot of power in his reach...
I agree it is very unlikely, but knowing as little as we do about him, it is a little questionable. Thanks for the reply. You got a new follower.
I don't personally believe it will happen, because doing so would completely destroy Satoshi's anonymity, and at this point if Satoshi was not concerned about his anonymity, I believe he would have told the world who he, or they are.
what do you think about the recent declining bitcoin price.
and how your prediction of bitcoin in 201...
If they sold, that means someone bought, the coins did not disappear into thin air, someone else now holds the strings to the puppet. What you should be worrying about is the fact that in the United States, only the government can issue/authorize the printing of currency. So people need to stop referring to it as a currency. Now here is the really mind blowing thing, since the Feds have not stepped in does that mean the stories about the 1997 crypto section of the US government did indeed create Bitcoin and cryptocurrency as a means to do away with printed money, and be able to better track the individual.
This is just a theorethical wealth since he wouldnt even sell 200k of BTC in less than year, unless he would sell it for -20%