Will ADA Whales Ever Give Up Their Power?


#360

Nobody in their right mind wants a “equal distributed wealth society” that is communism. Decent and moral people want equal opportunity, not to be engaged in force and aggressiveness basically theft of other peoples work - not only is that the ONLY moral system there is, but it so happens to be that it is also the most effective in raising peoples living standards from top to bottom.

If we wanted to equal wealth today by world standards, your yearly salary would be around 13.000$, and of course this would drop to nothing since people would stop what they would be doing.

The majority of Wealth in a society is created out of thin air (there are a few exceptions like land or natural resources, which btw are valueless by themselves) if you own yourself, you also own your creations, your rights extend to your property.

This is what blockchain is trying to do, to create more equal opportunity, one of the benefits is that “people” cant use governments to steal wealth and keep people down - and yes this extends to many other areas, where blockchain is a benefit, but that is a longer discussion.


#361

Yes, a longer discussion. I love these longer discussions.

To be honest, my heart goes with you, and I would very much like to see happen what you hope: More equal opportunities through blockchain. I would like to believe … but it is cold and lifeless reasoning, that stops me from believing. It never happened in the past, but there were plenty of tech revolutions that could have changed the world for good. A weapon in the hand of a man can be used for hunting. But he can use it to kill his brother. He will use it for both. He always did. The same will happen with blockchain, and it makes me sad.


#362

Some of the large wallets are managed by exchanges like Binance.
See Binance at: https://adatracker.com/richest
Exchanges are not really large whales, because they do not own the ada. They just manage it for others who want to trade.
https://www.cardano.org/en/buy-sell-ada/


#363

是的,我的理解是筹码高度集中,鲸鱼会基于自身的利益,影响对于项目正确的决策方针,但是希望我的担心是多余的。


#364

ADA value going up any time soon?

Cardano (ADA) is one of the latest cryptocurrencies to be developed. The cryptocurrency was launched in November 2017 and it has outdone most of the cryptocurrencies that were developed way before it. The amazing thing with Cardano is that despite the fact that it is still struggling with the value of its token, the ADA, the crypto coin still remains in the top 10 list of cryptocurrencies.


#365

I am curious. After this original post was made, has anyone done a subsequent analysis to find out if some of the large token-holders went ahead and broke out their originally huge holdings and scattered them throughout a number of different wallets?

I don’t know what tools are available that would enable me to search through the ADA blockchain and see what the top 100 holdings/wallets were as of 20 February, and then trace what happened to them. To do so would be helpful to see if some folks heard about the concern and then went ahead and tried to “muddy the waters”, so to speak, to make the issue disappear to the casual observer.

Unlike publicly traded companies, where you can see what the large stakeholders do with their ownership stake, it seems to be harder for an average Joe to do the same type of research on cryptocurrencies, despite the claims of being more open and transparent than conventional markets.


#366

As mentioned above you are ignorant to believe a “whale” or significant owner will have just one wallet.

I believe all crypto currencies will be manipulated for a lot longer. Until real life adoption/application has happend (fingers crossed) and created lots of volume. But even then the initial creators with unknown amounts of holdings may have equally much influence if they do not distribute. Its a governance issue and quite serious one potentially. It’s amazing Bitcoin is about to get CBOE ETF and no one knows if someone has the capacity to crash the price.

Just think of the regulation on 5%+ stock owners in listed companies. They are named in their annual reports. I understand this is a currency but in comparison to fiat it would be countries and their governments. Such “manipulation” is simply regulated as pegged or floating currencies by nationalbanks.

Just thinking about it makes me want to run away screaming. Yet here i am.

Hopefully Cardano and emurgo will be as open and honest as always.

All we can do is ride the wave as good as we can.


#367

What ADA amount per owner is charactherized to be called a ADA Whale? Think this whole discution is a bit strange… a Whale for me is maybe a Whale for another ect…


#368

yes if i can get a consensus of how much Ada one must own to be considered a whale? 1,000,000 ? 10,000,000? or 100,000,000? 1,000,000,000?


#369

Check this video out…quite interesting.


#370

Round about now, before 5xents I guess :slight_smile:


#371

whales where part of every ecosystem exist:joy:(lol)
They are investors just like you and everyone else in these community, why bother? you get your reward base in what you have stake(investment), they are not dumb to dump there money into something that they will dump later on(years,decade or century).
Better to be goodvibes and make these ecosystem fruitful in the future…Buy more Ada for the future!


#375

@blanca12
Just wondering why every post you make contains a link that is unrelated to the discussion?


#376

@CardanoUmbrella,

It seems that @blanca12 and all their posts have disappeared. Perhaps a good thing; I too was wondering about the unrelated links after each of his/her posts.


#378

One can look at this in a different way, if Cardano is a failure then Whales are gonna loose lots of monies!


#379

There’s still a long way down for whales to lose a lot (most whales bought for $0.002)