• 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

Dodgers Dominate with 10-2 Victory; Ohtani Shines with Four Runs as They Edge Closer to World Series
10ヶ月前

Dodgers Dominate with 10-2 Victory; Ohtani Shines with Four Runs as They Edge Closer to World Series

The Los Angeles Dodgers achieved a decisive 10-2 victory over the New York Mets in Game 4 of the National League Championship Series, with Shohei Ohta...

Read more

Pistons Make History, Nuggets Take Control, Pacers Eliminate Bucks, and Celtics Advance in Thrilling Night of Playoff Action
4ヶ月前


Pistons Make History, Nuggets Take Control, Pacers Eliminate Bucks, and Celtics Advance in Thrilling Night of Playoff Action

A wild night in the 2025 NBA Playoffs saw the Pistons stay alive with a historic win, the Nuggets take a 3–2 lead over the Clippers, the Pacers elimin...

Read more
Inter Milan Stuns Barcelona in Magical Comeback to Reach Champions League Final, Equals Record for Highest-Scoring Semifinal Tie
3ヶ月前

Inter Milan Stuns Barcelona in Magical Comeback to Reach Champions League Final, Equals Record for Highest-Scoring Semifinal Tie

Inter Milan pulled off a stunning late comeback to defeat Barcelona in a thrilling Champions League showdown, sealing their place in the final with a...

Read more

Get K8 Airdrop update!

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