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by thendrill
1950 days ago
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What about the bit coin whales? The btc-e money the Mt gox coins. Satoshish original coins and all the gpu miners pre 2012? There are plenty of people walking around with btc wallets with hundreds to thousands of coins that are basically funny money to them. For every btc price cycle there is more usd and less coins in circulation. Selling off 10 btc at the moment on any exchange would tank the price with about 10k usd.... |
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That's just not true and I don't even see any reason how it could be. I am looking at the Binance BTC order book and depth chart and 24 BTC sell orders at 56500 just went through. Price is not crashing.
Mining and whale centralisation are huge problems and downside in crypto depending on how prevalent it is. I am not saying that Bitcoin is not a dangerous investment, that there it is not a speculative bubble. I am just saying that it does not meet the definition of a Ponzi scheme.
There is indeed a lot to critique about the current crypto market but at least make sure the arguments are founded on facts.