• Home

  • Promos

  • News

  • Media

News

26 August 2025
Fiction Explained: A single entity or person controls more than 50% of the total supply of Bitcoin

Fiction Explained: A single entity or person controls more than 50% of the total supply of Bitcoin

Why This is Fiction:
This statement describes a "51% attack," but it incorrectly applies it to Bitcoin's ownership and supply.

1. Control vs. Ownership: The concept of controlling 51% in cryptocurrency typically refers to mining power (hash rate), not ownership of the coins. A 51% attack would allow an entity to temporarily reverse transactions and double-spend coins. It does not give them control over other people's coins or the ability to arbitrarily create new Bitcoin or set its market price.

2. Bitcoin's Distribution: While Bitcoin wealth is concentrated in large wallets (often called "whales"), no single entity owns even close to 50% of the total supply. The largest known wallets are believed to belong to exchanges (like Binance or Coinbase), which hold coins for millions of users, not a single person.

3. Price Manipulation: While whales can influence price through large buy or sell orders, they cannot "manipulate it at will." They are still subject to market forces, liquidity, and the actions of other large holders. Controlling a large amount of coins does not equal control over the entire network's rules.

How to Stay Informed:
- Understand the difference between network security (mining hash rate) and coin ownership.
- Be skeptical of claims that a single person or group has absolute control over a major, decentralized cryptocurrency like Bitcoin or Ethereum. This is a core problem that blockchain technology was designed to solve.
- Recognize that while concentration of wealth is a real issue, it does not equate to the technical control described in a 51% attack.

Recommended to read

Messi's Comeback: Two Goals in Four Minutes Lift Inter Miami to Victory Over Philadelphia Union
1年前

Messi's Comeback: Two Goals in Four Minutes Lift Inter Miami to Victory Over Philadelphia Union

Messi's contributions came at crucial moments, helping Miami overcome an early deficit and secure the win. His skillful playmaking and finishing were...

Read more
Yu Darvish Sharpens His Game in Live Practice, Reveals 2025 Season Focus
7ヶ月前

Yu Darvish Sharpens His Game in Live Practice, Reveals 2025 Season Focus

San Diego Padres ace Yu Darvish showed strong command and velocity in his first live batting practice session of spring training, emphasizing communic...

Read more
Atlético’s Club World Cup Dream Ends Despite Griezmann’s Winning Shot
3ヶ月前

Atlético’s Club World Cup Dream Ends Despite Griezmann’s Winning Shot

Antoine Griezmann's late goal gave Atlético Madrid a 1-0 win over Botafogo, but it wasn’t enough to keep the Spanish side in the Club World Cup, as th...

Read more

Get K8 Airdrop update!

Join our subscribers list to get latest news and updates about our promos delivered directly to your inbox.