THIS IS A LETTER ADDRESSED TO BITCOIN FOUNDATION FROM ME. NOW IS AN OPEN LETTER TO EVERYBODY
Hello members of the foundation I´m from Spain, not member of Spanish bitcoin foundation, and using google translate.
I address you worried about the future of bitcoin after the last events occurring .
From my perspective as a user, mining , and buyer who offers services in bitcoin , it is clear that big business has taken control over the value of bitcoin . Not only that, but it seems to be corrupted , bribed , or something like the main market of bitcoins .
Once they have large amounts of bitcoins and unlimited amounts of fiat currency is very easy to control the value of the currency through massive trading, as well reflect the specific volumes of the market at the time of coin value corrections. Just have to agree both. One to flood the market with sell orders and the other prepared for massive shopping. So they are doing . Fiat currency and bitcoins change from one hand to another and vice versa setting market prices.
If we want to save bitcoin their claws and drive it along the way for which it was conceived is necessary to take control again by modifying the protocol.
From my point of view it is necessary to put an ID to each market . Take note the AVERAGE VOLUME of that market and not allow a suddenly increase of volume transactions that exceed a percentage of that average.
Since I still have good control over the protocol, although it may well have seeped people between foundations , or developers, fully paid by this criminal .
Not to mention the integration of bitcoin in a bank account, whose pilot is performing the standard bank of south africa, that would end the anonymity.
There are to react quickly, or beautiful project is finished in his tender infancy.
Thank you. I cordially dismissal and remain at your disposal....
bitcoin exchanges are programmed in PHP and HTML.. this is totally unrelated to bitcoin protocols. the exchanges only use the protocols to view the balance of the people using the exchange.
secondly, when a establishments sells the coin, the coin usually ends up in the hands of individuals. and when the individuals sell their coin it may go back to the big establishments. either way it is like a circle that endlessly repeats.
the only lesson to learn is to teach people not to sell below the price they buy. to hold coins until it profits. which again does not need any protocol changes.