11-16-2020, 05:25 PM
Grayscale owns 506,000 BTC or 2% of the supply. Is this a problem?
<!-- SC_OFF --><div class="md"><p>To set the scene, take into account this number is set to grow and other investment firms are likely to follow suit. Could this mean that a very large percentage of bitcoin will be held by these companies in the very near future? In a short-sighted way this is good for those looking to profit from big money enticing them to sell but what does this mean for decentralisation?</p> <p>Goofy side note - Could this end up looking like IOI swallowing up the OASIS in ‘Ready Player One’?</p> <p>Source for figures: <a href="https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever">https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever</a></p> <p>Edit - I appreciate everyone’s perspective but please try to understand that as a discussion thread I’m looking to get a range of opinions etc. Just because you feel very strongly about your point of view that doesn’t give you the right to tell others not to discuss and shut people down for asking questions/expressing themselves. Thanks.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>To set the scene, take into account this number is set to grow and other investment firms are likely to follow suit. Could this mean that a very large percentage of bitcoin will be held by these companies in the very near future? In a short-sighted way this is good for those looking to profit from big money enticing them to sell but what does this mean for decentralisation?</p> <p>Goofy side note - Could this end up looking like IOI swallowing up the OASIS in ‘Ready Player One’?</p> <p>Source for figures: <a href="https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever">https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever</a></p> <p>Edit - I appreciate everyone’s perspective but please try to understand that as a discussion thread I’m looking to get a range of opinions etc. Just because you feel very strongly about your point of view that doesn’t give you the right to tell others not to discuss and shut people down for asking questions/expressing themselves. Thanks.</p> </div><!-- SC_ON --> Kind Regards R