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What if the situation continues and large percentages of the bitcoin pool are of unknown status (could be lost, could be in the possession of a government insti
by muxxa 13y ago
What if the situation continues and large percentages of the bitcoin pool are of unknown status (could be lost, could be in the possession of a government institution, could be being hoarded). Would this make bitcoin more risky compared to a hypothetical competing crypto currency that can account for the status of all of it's coins? Could this make bitcoin untenable?
- Houshalter 13y agoPossibly though you would have to obtain a large amount of bitcoins and then just sit on them for a long time to have any affect. And I doubt it would make money since the price would go down if you put them back on the market. The equivalent situation in the real world would be if someone secretly bought half the world's oil supply and then hid it, or at least just sat on it. The price goes up since there is now less oil available.