Is it really a benefit that nobody controls the price?

blockman

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Quote from: Kong Hey Pakboy on April 08, 2021, 03:36:14 AM

This comfort is thanks to the fact that no one is controlling the prices, and if the market is controlled by an entity then it wouldn't be profitable for individual investor to invest in the market because they are at the mercy of the controllers which is going to move the market whenever it fits their interest.

Yes, if there's no control, we can also take advantage of it. But if it's controlled, there is no way that small traders or investors can take advantage of it.
We've seen that happen in the traditional markets.

Distinctin

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Some people think that the whales are controlling the market price and maybe they are is they can manipulate the market so easily but wondering why people are so happy when the hypes started? Yeah, the hypes made by these whales make holders and crypto investors double, triple, (or even more) their profit. And that is why we are so thankful for having them but this doesn't mean that these people are totally in control of the market, they are just also market players who keep the market becomes more volatile.

Kong Hey Pakboy

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Quote from: Hypnosis00 on April 02, 2021, 06:03:01 PM

I'm really comfortable with the market like this, uncontrollable price, market volatility which we can see that the benefits we got is huge.

This comfort is thanks to the fact that no one is controlling the prices, and if the market is controlled by an entity then it wouldn't be profitable for individual investor to invest in the market because they are at the mercy of the controllers which is going to move the market whenever it fits their interest.

adzino

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Who told you no one controls the price. Everyone together sets the price of bitcoin and other crypto currencies. This is how the decentralized market works. The supply and demand determines the price and it is us who creates both the supply and demand. But unfortunately, manipulations do take place from time to time, but those affect the price in the short run. Whales can manipulate the price by causing an artificial shortage or abundance in the market. But as more people starts to enter the market, the harder its going to get to manipulate the market. The only disadvantage is that it may cause a huge volatility (again for a short term) from time to time due to FUDs and FOMOS.

TheUltraElite

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Quote from: Om.monata on April 01, 2021, 02:03:28 PM

bitcoin will not be able to do for restrictions.

Bitcoin is decentralized and censorship resistant. Its price is not controlled by a central institution but by the supply:demand ratio.

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I don't imagine if bitcoin is restricted and what about volatility?

The idea of volatility is much less in the last year. Price trends show that dropping down to zero is very less likely. Earlier when bitcoin was still in its three digit prices, the no-coiners would cite volatility as the reason why they chose not to put any money in it. It is the same no-coiners who are sulking of not having bought at that price then.

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I think Bitcoin still needs volatility to be able to set the price for traders. So I thought it would be a bad idea if there was a bitcoin restriction

Nobody can restrict bitcoin mate, as long your electricity is intact. However country governments might put restrictions on traders in future. But its price does not depend on that.

It has both its good and bad things. One thing that I would defenitely like to see is a government acceptance of use of bitcoin but not control over its supply.

Hypnosis00

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I'm really comfortable with the market like this, uncontrollable price, market volatility which we can see that the benefits we got is huge. Can we imagine a certain country that has been ruled by corrupt leaders? That we will experience if the market has that kind of control. May we ask why there is price manipulation? yes, we have but it doesn't mean that we are totally in control with these whales, no. This is just a short-term effect coz after they achieve their goal, they will leave.

Findingnemo

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Quote from: Dorjoy Khan on April 02, 2021, 12:38:24 PM

snip~
without any doubt this will be possible only when a coin has unlimited supply but if any exchange want to control any good ranked crypto coin then it is totally impossible .. You know well about shit exchange right such as yobit ? there has lot of fake coin which trading volume got increase by yobit team when ever they want but they can not control good crypto and no exchange will be able to do so ever .

Volume of BTC can be controlled, volume of ethereum can be controlled and volume of any coin can be controlled by the exchanges and I am saying word control is manipulate because they can create fake trade orders and increase the trading volume. In the past there was an article posted about the actual trading volume on the exchanges which is a lot less compared to what is the volume mentioned by the exchange.

Dorjoy Khan

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Quote from: Findingnemo on February 19, 2021, 09:51:24 AM

Quote from: SapphireSpire on February 18, 2021, 04:07:53 PM

I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth?

Solution- price limits!

If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day.

Here's how the market would react.
1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise.

2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall.

This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange.

So it is okay to give the price control to the exchanges? Which is even again decentralization the basic thing why everyone need to move to cryptocurrencies. Exchanges don't have such limiting feature a d they should not have it too.

The market is growing every year so the volatility will reduce with the increase in adoption nit by any limiting feature.

without any doubt this will be possible only when a coin has unlimited supply but if any exchange want to control any good ranked crypto coin then it is totally impossible .. You know well about shit exchange right such as yobit ? there has lot of fake coin which trading volume got increase by yobit team when ever they want but they can not control good crypto and no exchange will be able to do so ever .

AicecreaME

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Quote from: SapphireSpire on February 18, 2021, 04:07:53 PM

I can't afford to lose half my wealth from a random crash.

I think you don't understand how cryptocurrency really works. The time you're gonna lose half of your wealth is when you withdraw your funds after a random crash (which is normal) because of what we called "Volatility". Price fluctuations won't take away your profits, 1 BTC will remain 1 BTC even if the price go down from $58,000 to $50,000, all you need is patience, a lot of it to make profits to secure your wealth.

And because nobody controls Bitcoin, it's great to avoid deflation. I mean go fo fiat if you want a regulated one and have inflation, your choice.

Zilon

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Bitcoin volatility would keep increasing and this is inevitable. If you are scared of loosing your fortune it's advice your HODL your coin which could be termed investing on Bitcoin. Buying Bitcoin and storing them in your wallet with the hope it would rise in the nearest future would be the best approach to curb the high volatility you are scared of. Investing has limited risk and would keep you on a reasonable profit after a long period of investing

Om.monata

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bitcoin will not be able to do for restrictions. I don't imagine if bitcoin is restricted and what about volatility? I think Bitcoin still needs volatility to be able to set the price for traders. So I thought it would be a bad idea if there was a bitcoin restriction

pankowri

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That is beneficial from maximum sides. In cryptocurrency, there is no person to control the market it makes the system corruption-free, greed-free, emotion-free, technically strong and used a strong variation of formula which can balance the equity. This ensures to published original face or condition of the market.

FanEagle

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Precisely what makes many people interested in crypto is the high level of voting. there is no control and everyone is free to buy or sell. if you mean everyone has a limit in purchases, surely the increase that is happening now is not high. Elon Musk, Micosoft, Paypal one of the big companies making large purchases is a positive thing. for dump and also FUD that happens all depends on each person reacting to it. Sometimes the dump that occurs is just an issue that makes traders panic and the whales can buy cheaply

That would be idiotic for a place to do of course but we are talking about exchange and not bitcoin. You are saying bitcoin is free and that's why people like it because there is nobody controlling it, there would still be nobody controlling it.

There would be exchanges putting a new thing in there which would limit your buy and sell of bitcoin but they would not be controlling the bitcoin itself, in a matter of speaking they would be controlling you and what you do with your bitcoin, so there is a difference, if they were to control bitcoin that would mean stuff like moving bitcoins around from any wallet they want, seizing bitcoins from others wallets, printing more bitcoins, taking from you and giving to people who have more, these are all the things governments do for fiat currency, hence it's not a shock that bitcoin would be like that, but it's not. I still think that limiting the trading would be idiotic as well of course.

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