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Bitcoin whales hold market firmly in hand – delivered to the big ones?

Friday, January 19th, 2018 | bitcoin updates

According to a study by Credit Suisse, most of the world's Bitcoin holdings are firmly in the hands of a handful of so-called Bitcoin whales, Business Insiders reported in the past Week. For example, the investigation found that 97% of the outstanding Bitcoin assets are owned by only 4% of the owners. This applies to the digital space, which continues to strengthen global finance with the consolidation of capitalism – a few have the largest amounts and thus have influence and market power. Following the financial jargon, such heavyweight major investors are referred to as whales. Retail investors fear it, but not only do they depend on their actions, fate and attitudes, but the entire existence of the Bitcoin ecosystem itself. But who are these Bitcoin heavyweights? And are small investors exposed to their speculations? Whales are the biggest sea creatures we know. Big as houses, meek, shy – for a long time it was thought that the sea giants had no influence on the habitats of other fish and aquatic creatures. One study now proves the opposite: according to these, whales make a decisive contribution to the stability of the oceans. Where they go their way, they ensure that others can live – the existence of the ecosystem is ruled out by their existence. What is true for the largest marine mammals, this is also reflected under the water surface of the international Bitcoin market. So, a few owners, the so-called Bitcoin whales, are the ones who call most of the coveted quasi-digital currency. The survival of the entire Bitcoin market depends on their actions. According to the latest research conducted by the Swiss credit institution Credit Suisse this week, their number is smaller than it was long assumed. So now only 4% of the owners own 97% of Bitcoin. Other estimates by US journalists from Bloomberg, for example, assume that around 1,000 of these Bitcoin whales own 40% of the world's traded Bitcoin quantity. According to the Handelsblatt, even only about 100 people have secured a full 20% of the market – in view of a current market capitalization of 196.04 billion euros considerable sums.Bitcoin whales – Who are they? Who exactly the Bitcoin sizes are except for a few media hungry to a large extent unknown. How they got their fortune, however, is easier to understand. Because most of the ocean liners are probably pioneers of the first hour. They mined the Bitcoin themselves or purchased large amounts of Bitcoin for small sums of money – even before the international media community got wind of it. So they were able to multiply their wagers hundreds of times over the exploding prices of last year. The result: digital wealth, which most people also keep in digital form. Estimates assume that a large part of these precocious optimists, the pioneers of digital payment alternatives, know each other thoroughly. Again, the result: A small, seemingly sworn community Superreicher. With this in mind, there are a few major drivers in terms of pricing and market activity. Discussions – likely to be delivered to the big ones – Bitcoin whales are the anchor and the cleaver of the crypto-ecosystem at the same time – they can hold the course, thrill it or send it down. Because coordinated buying or repelling behavior makes short-term price movements possible in all directions. The fact that such behavior does not seem unlikely at first lies in the nature of Bitcoin itself. Unlike international securities and commodities, the international financial markets are largely independent of the efforts of individual countries unregulated. Often, digital currencies also fall completely out of the grid of regulators and financial institutions – such as the Securities and Exchange Commission SEC in the US or the European Central Bank ECB in the EU. On the contrary, it affects the free market – and allows that Klein is swallowed by large. In addition, such agreements, especially in view of last year's new born Bitcoin futures for about calculated stock market profits in the considerable extent worry. Voices from the community confirm the suspicions of the agreements. "I believe that the agreements are very likely. And people should be able to do whatever they want with their own money. Personally, however, I never had time for these things, "said the well-known Bitcoin early investor Roger Ver to Bloomberg.Hinzu comes that these movements are for small investors mostly in the dark. For example, US lawyer Martin Mushkin clearly distinguishes Bitcoin businesses from traditional investment products. "There is no transparency in the market. In the securities business, all materials must be disclosed. In the world of virtual currencies it is particularly difficult to find out what happens. "So it seems understandable that some may feel at liberty.The cut into their own flesh is unlikelyAn important detail, however, is often ignored by the now terrible small investors and dystopian forecasts: The Big ones, the Bitcoin whales themselves, are interested in the existence of the system, joint rejection is easier said than done and the value of the currency remains at least calculationally rising. Because of the market limitation and the limited number of bitcoins, its price will continue to be deflationary. Early destruction of one's own market does not seem to be far-sighted, at least from the observer perspective. In this regard, it can be assumed that the community is likely to regulate itself. You will hardly want to cut your own flesh.BTC-ECHO About David BarkhausenDavid Barkhausen has written as a freelance journalist for several daily newspapers, radio, television and incidentally his own blog and reported. Since 2017, the Master of Political Science of the University of Heidelberg has been dedicated to the topic of Blockchain. In this context, he focuses primarily on the areas of regulation, society and economic policy. All contributions by David Barkhausen


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