But they would still have to spend dollars (or some other local currency), right? Thereby, their Bitcoin earnings and savings are irrelevant to this. I see no logic in your reasoning, since they would have to do the things that are opposite to what they are doing now...
That is, buy bitcoins for fiat instead of selling them
how they are irrelevant when they earn 8 times what they consume, i think you're being dense on purpose, they just convert 1/8 of their earning in dollars for the bills that's it
Because their profits (let's assume that you are right about that) are in
bitcoins, not in dollars. They mine bitcoins, not dollars. Given that, they can only "manipulate" the price by
selling the remaining 7/8 part of their earnings (i.e. the remaining bitcoins), which would drive the price
down. To drive the price up, they would need to
buy bitcoins with dollars...
Who is really dense here? Are you a female, wtf?
lol wtf are you saying, they can simply sell slowly, to avoid dumping too much and crashing the market, they also do not need at all to sell 7 out of 8, just a portion of it, at the peak, then when the price fall(not because of them but because they instigate a panic selling) they buy again more than before
this is called trading accumulating more bitcoin, which mean that they can easily drive the price up buy causing a panic sell, which is what they are doing now i believe
i think you're missing the "manipulator" term here
