What occurs to BTC after they are all mined and billionaires very own majority btc's?

Discussion in 'General Discussion' started by tony77, Apr 9, 2019.

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  1. tony77

    tony77 Starting Investor

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    Hello everyone,
    Bitcoin works on the principles of supply and demand. If the rich people own majority of the coins and decides not to touch them, the remaining coins will become more valuable since the supply of it becomes scarce.
    That is if only they own all the coin. If there is still coins in circulation, Bitcoin cannot die.

    There is no problem with it, we can easily increase the number of decimals and people would continue to use Bitcoins in small denominations.
    Thank you!
     
  2. tony77

    tony77 Starting Investor

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    my issue has been solved!!
     
  3. Vla

    Vla Fully decentralized

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    And what if one person owns all BTC. It is hard to imagine, but what if...
     
  4. The CC Forums

    Staff Member

    It would only have value if someone else wanted them. For one person to own them all, everyone else would lose interest, and there would likely be no value.

    Value is only defined when something is exchanged or used. Having all bitcoins in one account would prevent both.

    Besides, it will never happen. Imagine what the price of the last 10% of coins would be if one person tried to accumulate them all. Astronomical and likely unaffordable by even the richest person in the world at that point. They would be driving their own costs of acquisition higher with each purchase.
     
    Vla likes this.
  5. Vla

    Vla Fully decentralized

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    Thank you for your explanation!
     
  6. Ingrid

    Ingrid Buys the dips

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    Thanks for the explanation. I also wondered if it is possible that one person owns all BTC.
     
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