Topic: Crypto has become the rich man's playground... - page 2. (Read 826 times)
In any financial industry, it has to be admitted that the rich have far greater influence on the financial industry than ordinary people. Their assets can manipulate the rise and fall of the industry, and there is no difference in the bitcoin industry
The Bitcoin market is not a playground for the rich. I admit that the rich have a great influence on the Bitcoin market, but the Bitcoin market also brings great benefits to ordinary people. Therefore, Bitcoin is a manifestation of our progress.
In my point of view, bitcoin is being more recognized by rich people and for me it is not so bad. We always hope that bitcoin will get more recognition by people around the world and I think little by little it keep going. Those rich people are usually have smart brain, they are just try their best to gain profit. I believe that they will not leave bitcoin, I think what they do is just a strategy to gain more profit. In my opinion bitcoin with it's deflation is the best cryptocurrency, this is my first priority for investment. You will not loss your money until you sell bitcoin at lower price, if someone don't understand about cut loss or opportunity selling then just hold Bitcoin is the best decision.
To a large extent, cryptocurrency is a playground for the rich. The resources they possess can control the price of cryptocurrency, and only a small number of people can make a small part of the money. Most people lose money in this game.
Since the world of cryptocurrency is open, anyone can buy it. The rich make money smartly through cryptocurrency. They are rich people and they have the ability to manipulate the market.
In any field, wealthy businessmen always have a certain right to speak, they will have a huge impact on the market, and ordinary people like us will also be very concerned about their speech. We must enrich our blockchain knowledge, Don't become a loser in the market.
There are indeed many wealthy businessmen in the Bitcoin field, and they do have a certain influence on the Bitcoin market. However, in my opinion, in this bitcoin market, only smart people will survive and they will be able to get the benefits they deserve.
Cryptocurrency is a tool for wealthy people to make money. Chasing profit is the only belief of merchants, not Bitcoin's consensus. It is undeniable that Musk does sometimes control currency prices, but I don’t think this cat-and-mouse game will continue. Staged, the rise and fall of digital currencies, especially the current sluggish price, may be that the market is too hot and does not comply with economic laws. Junk coins, air coins, and various animal coins should leave the market.
With crypto still on the early stages, I will agree with what the OP has said that crypto has been a playground of the riches.
Is there anything that we can do about it?? None but to just rant on social media, saying bad things to them but in the end they have the power therefore they will do it at anytime they want to.
On the other hand even though we've seen market manipulators, FUD's and some people bashing crypto, the market is just going up and up and as more and more people are coming into crypto, there is lesser chance that the market will be manipulated at least.
We can say what we want to them. We can talk shit about Elon or any whales or manipulators out there but that is it. The rich will be richer and those below them? Well, they might stay on their current positions right now or they will become rich too but not enough to be a whale
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Is there anything that we can do about it?? None but to just rant on social media, saying bad things to them but in the end they have the power therefore they will do it at anytime they want to.
On the other hand even though we've seen market manipulators, FUD's and some people bashing crypto, the market is just going up and up and as more and more people are coming into crypto, there is lesser chance that the market will be manipulated at least.
We can say what we want to them. We can talk shit about Elon or any whales or manipulators out there but that is it. The rich will be richer and those below them? Well, they might stay on their current positions right now or they will become rich too but not enough to be a whale
.
Of course, rich people who already in crypto knows everything and they know that they can manipulate the market. Crypto is their playing grown and they play with all the investors, and traders but at the end of the play, still the rich man wins. Specially during the sudden dropped in bitcoin and altcoins price, rich man already there waiting for all the weak hands to dump their tokens.
Yes, you are right. But why this is happening? Who helped them to play? Both answer is "we the Crypto investos, holder and traders". Because we follow every richest person. If they tell anything then without judging we follow them. For this reason they can make hype easily among us. And they take advantage of this. I think we should unfollow them. If we do so then the rich mans cant play with Crypto.
In the end it's all investors' fault, because no one was forced to sell bitcoins and help the whales to dump the market, nevertheless investors did it for fear of loss or just because they wanted to follow the big investors and influencers' steps. Unfortunatelly few investors who think outside the box aren't enough to stop the crash that is caused by investors who move the biggest chunks of money in crypto market and their sheep.All we can do is to hold and wait until the market starts recovering again. I would like bitcoin didn't need these big investors to be able to rise, but that is just impossible.
I don't think the whales need help from retail investors to dump the market. If they decide to dump the market and throw 500,000 Bitcoin onto the sell order book, that's definitely a high enough number of Bitcoins to get a crash going as we have seen it now.
"In hindsight, this is inevitable"-Elon Musk
Just as what he tweeted, wherever money is, you know the rich is bound to wallow on it and make it their breeding ground. Sadly the fact that bitcoin is accessible to everyone means it is also accessible to the 1% of the society. So when they hoard this stuff you know for sure we can't do much about it other than to follow their lead since they practically control the market now.
Just as what he tweeted, wherever money is, you know the rich is bound to wallow on it and make it their breeding ground. Sadly the fact that bitcoin is accessible to everyone means it is also accessible to the 1% of the society. So when they hoard this stuff you know for sure we can't do much about it other than to follow their lead since they practically control the market now.
Due to having power as well as resources, it seems like rich people have been able to take into theor hands how does things must work out depending on what they like because of their money. We can conclude that it is the reality happening wherein crypto is being manipulated in terms of price by those influential and having lots of money turning things to be favorable with them. But rich people are not the only one who manipulate the market because we also do as normal people whenever we tend to get along on the trend we are already supporting their movement for we think it is the right thing to be done specially for newbies. All investors as well as traders can also be a participant for the price movement and not just only those rich people.
I think that it is not worth demonizing such investors, even though they own large resources, they are the same people as everyone else. Possessing great opportunities, they have the opportunity to more strongly influence the processes in the markets, this applies to any market where something is freely traded. Especially if these people are also public figures with influence on the masses, such as Elon Musk. It is natural that they play their games and it is difficult for us to understand them, but if you imagine that you yourself have such opportunities, do not be cunning, you would do something similar yourself.
I'm not sure whether it's for a meme, a motivational quotation, or something. This forces me to think the wealthy are stealing the spotlight on what crypto-currency is for. I got a call from a friend who wanted to start cryptocurrencies and she asked whether Elon Musk will make her rich, which sounds ridiculous, but that's what it is, as mentioned in the article & believe a smart crypto-currency consumer can disregard games coming from game chasing.
Yes, you are right. But why this is happening? Who helped them to play? Both answer is "we the Crypto investos, holder and traders". Because we follow every richest person. If they tell anything then without judging we follow them. For this reason they can make hype easily among us. And they take advantage of this. I think we should unfollow them. If we do so then the rich mans cant play with Crypto.
In the end it's all investors' fault, because no one was forced to sell bitcoins and help the whales to dump the market, nevertheless investors did it for fear of loss or just because they wanted to follow the big investors and influencers' steps. Unfortunatelly few investors who think outside the box aren't enough to stop the crash that is caused by investors who move the biggest chunks of money in crypto market and their sheep.All we can do is to hold and wait until the market starts recovering again. I would like bitcoin didn't need these big investors to be able to rise, but that is just impossible.
I don't think the whales need help from retail investors to dump the market. If they decide to dump the market and throw 500,000 Bitcoin onto the sell order book, that's definitely a high enough number of Bitcoins to get a crash going as we have seen it now.
Def not all crypto, Maybe Bitcoins but there are still a lot of alt coins which are cheap to buy and you can still make profit from them with out spending huge amounts of money.
Yes, you are right. But why this is happening? Who helped them to play? Both answer is "we the Crypto investos, holder and traders". Because we follow every richest person. If they tell anything then without judging we follow them. For this reason they can make hype easily among us. And they take advantage of this. I think we should unfollow them. If we do so then the rich mans cant play with Crypto.
In the end it's all investors' fault, because no one was forced to sell bitcoins and help the whales to dump the market, nevertheless investors did it for fear of loss or just because they wanted to follow the big investors and influencers' steps. Unfortunatelly few investors who think outside the box aren't enough to stop the crash that is caused by investors who move the biggest chunks of money in crypto market and their sheep.All we can do is to hold and wait until the market starts recovering again. I would like bitcoin didn't need these big investors to be able to rise, but that is just impossible.
Maybe Elon is doing this for the rich men too. That once that can afford every dip.
But those who buy doge don't worship Elon, they just ride the train to make money out of it and they all help pump the market by shilling the coin that the dogefather is shilling. It's all collaborated that even the local news in my country featured Dogecoin. Money attracts everyone. When you hold a thousand of Doge, you will want to shill it for profits and the chain reaction starts. Once he stops supporting Doge, those who bought will also start buying BTC that he just rejected recently.
Everything concerning Elon musk am tired, because i don't really know his objectives into cryptocurrency, if actually his ambitions is to focus or channel cryptocurrency into the Rich's, everyone is reacting consciously towards his aim into one coin, which is doge coin, so what is really important into doge that's not in any other coins that made him to carry much promotion and advertise via doge, actually if he wants to stabilize other coin or castigate the importance of any other cryptocurrency, he should make it to be known to the society and also portray positively while Doge is much valid than any other cryptocurrency.
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