No problem with money or power. It's the abuse of that power I consider destructive
Define "abuse".Quote
You have a strange definition of what money is for ...
Then please enlighten me? 
Topic: Manipualtion and the future of Bitcoin - Poll - page 2. (Read 3585 times)
This just smells of jealousy and quasi-socialism. People with money have more power, that's what money is for. Deal with it.
No problem with money or power. It's the abuse of that power I consider destructive
You have a strange definition of what money is for ...
This just smells of jealousy and quasi-socialism. People with money have more power, that's what money is for. Deal with it.
Just thought I would put it out there ...
Personally I think it is very damaging ... possible bigger than attempted government intervention.
If even a small minority of the whales care more about market manipulation for profit than they do about Bitcoin adoption, how is does it retain credibility as an alternative to fiat and progress beyond a mere speculative instrument ? Sure Big Ben has got the printing press on, and intends to devalue the USD, but at least he's doing it slowly and the currency has relative stability for use as a medium of exchange along the way. Yes, he is stealthily stealing money - just making a comparison re short term utility.
Meanwhile the bigger manipulators in this market just toss the price around like a rag doll for personal gain. Unless they actually cash out fully this game of theirs is unlikely to ever cease IMO. I see this scenario as unlikely unless its at a much higher price, and even then, it would probably be a massive dump to ... erm ... buy back cheaper and play again. Given the limited number of Bitcoins, there are and always will be a limited number of people who can play this game and manipulate the price in this way - membership to this club is probably pretty much closed.
How does that change at higher prices, given that they have already have enough coins to do it ? Is there really any truth to the argument that higher prices will bring more stability as it will take more money to move the market and distribution will be wider ? It takes coins to move the market ... and they already have them and are already milking the sheeple for all its worth. And loving every minute of it I am sure. Why would they stop ? Who's gonna make them ?
Whales probably do want Bitcoin to succeed in the long term so they can keep playing their game. But are they quietly strangling the goose that is laying the golden eggs ?
No, I did not just lose money to a manipulator
It was seeing those 20k walls disappear that got my mind whirring and I thought it was a good question to put to a poll
Feel free to suggest alternative answers ('piss off newbie' will not be added
)
Personally I think it is very damaging ... possible bigger than attempted government intervention.
If even a small minority of the whales care more about market manipulation for profit than they do about Bitcoin adoption, how is does it retain credibility as an alternative to fiat and progress beyond a mere speculative instrument ? Sure Big Ben has got the printing press on, and intends to devalue the USD, but at least he's doing it slowly and the currency has relative stability for use as a medium of exchange along the way. Yes, he is stealthily stealing money - just making a comparison re short term utility.
Meanwhile the bigger manipulators in this market just toss the price around like a rag doll for personal gain. Unless they actually cash out fully this game of theirs is unlikely to ever cease IMO. I see this scenario as unlikely unless its at a much higher price, and even then, it would probably be a massive dump to ... erm ... buy back cheaper and play again. Given the limited number of Bitcoins, there are and always will be a limited number of people who can play this game and manipulate the price in this way - membership to this club is probably pretty much closed.
How does that change at higher prices, given that they have already have enough coins to do it ? Is there really any truth to the argument that higher prices will bring more stability as it will take more money to move the market and distribution will be wider ? It takes coins to move the market ... and they already have them and are already milking the sheeple for all its worth. And loving every minute of it I am sure. Why would they stop ? Who's gonna make them ?
Whales probably do want Bitcoin to succeed in the long term so they can keep playing their game. But are they quietly strangling the goose that is laying the golden eggs ?
No, I did not just lose money to a manipulator
It was seeing those 20k walls disappear that got my mind whirring and I thought it was a good question to put to a poll
Feel free to suggest alternative answers ('piss off newbie' will not be added
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