Somebody wanted to control Bitcoin's dramatic growth

Antonas1

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Quote from: bitcoinvestor on September 23, 2017, 06:01:05 PM

Quote from: ?? on ??

It could happen. we know that the total bitcoin has not reached 21 million, multiply it by $ 5K, I think the world's richest man can do it.

That's why everyone want to be rich with bitcoin. Because of the fat bread many people want to hold the properties , but they are late finally they make rules and regulation that make bitcoin fall in price. That's Jami dimon attack bitcoin but JP morgan bought it when the price dumped. That's shit trick.

Haha, yeah you right Cheesy

Quote from: Seansky on September 23, 2017, 06:14:22 PM

Anyone rich can simply manipulate bitcoin price now, even an organization can do it. All they need to do is get in the fight amount of FUD and have right amount of bitcoin and a right amount of money in order to control bitcoin price. It is very likely for them to control it if he/she/they hold a thousand bitcoin or more. They can't do it forever so in some point they will stop doing it.

I think "control" is not about hold, buy or sell bitcoin but strategy.

BitcoinSupremo

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I don't think Bitcoin growth can be controlled. Bitcoin is fully decentralized payment system and is characterized by big volatility moves in Bitcoin price. As a payment system is better than many other conventional payment systems like bank transfers as when you pay in bitcoin you have much better privacy and your name is not shown up like it is in bank transfers. Therefore I believe no one ever will be able to control bitcoin as long as bitcoin will have a very big user base.

DoublerHunter

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They can't control bitcoin's dramatic growth because it is decentralized and it means that no one and there is no government or even organization that can control the growth of bitcoin. Bitcoin is created for everybody and there is no chance for a corrupt people to use bitcoin as a tool because bitcoin means freedom.

crismass1225

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Government dont want anythingbthat they cant control as it was nothing tondo with the price. Dramatic growth of biycoin and it price are depend on the law of supply and demand where there are 21 million supply circulating to the world. China wants to regulate it (as for my perspective they see a lot and big potential on it) so that they can use it in the long term for the future.

nocturnalsheet

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I think is governments trying to manipulate the growth by releasing news and regulations. long term it should have lesser impact in future

Snaic

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Quote from: RGBKey on September 23, 2017, 04:55:03 PM

...what? Bitcoin was created because it would become the new currency. Governments aren't going to just accept that a currency they have no control over is the new de-facto, I highly doubt that goverments are all just going to say "yeah, we're alright with everyone switching to Bitcoin". The price has nothing to do with it.

The just rising price for the crypto currency, and above all bitcoin, compels individual states to adopt their prohibitions and restrictions in order to prevent uncontrolled movement of the money supply. While its price was not high, the state still tolerated this, because it did not know the way to limit or prohibit the crypto currency. Now China first introduces restrictions and prohibitions, and already in parallel with this it tries to find the best way to interact with the crypto currency. We should inevitably experience these steps sooner or later. Therefore, we will now see whether the state can centralize the crypto currency or it does not give in to it by its nature.

namjey

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I more feel like it's just a market movement. It seems like just price is getting consolidation. When this price become solid, it will rise.

jseverson

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Quote from: niotib on September 23, 2017, 04:16:02 PM

So, I think.... Somebody who wanted to see Bitcoin as tomorrow's legal currency type, controlled it's dramatic growth. That's what we're experiencing today.

What do you think?

I think that's pretty far fetched. Bitcoins are divisible into multiple decimal points, so the price of 1 Bitcoin doesn't matter as far as its future as a currency goes. Heck, Electrum uses mBtc by default.

If you were to manipulate it, it would make much more sense to stifle its growth in the short term to be able to take advantage of its meteoric rise. Heck, that's what big players are doing right now.

Mysterious01

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Quote from: niotib on September 23, 2017, 04:16:02 PM

You saw, Bitcoin were step away on hitting $5000.... Isn't it awesome? I jumped into Bitcoin world in march 2016 when the Bitcoin price at $480... and I experienced around 950% growth in last 17 months. Does Bitcoin deserve for such a dramatic growth as a digital currency which is expecting the acceptance as a legal currency type in tomorrow's economy? No, Bitcoin can't achieve such a acceptance with such a fast growth since none of the legal currency today haven't shown such a behavior yet.

The main purpose behind introducing Bitcoin was a digital currency, anybody from anywhere of the world can use electronically. But, what has happened today? People have used to dress up Bitcoin as a gambling tool as well.

So, I think.... Somebody who wanted to see Bitcoin as tomorrow's legal currency type, controlled it's dramatic growth. That's what we're experiencing today.

What do you think?

I have no particular basis with my opinion.
Bitcoin become widely accepted and as a new currency its value grows many times. I think due to its popularity why its value goes up.
We are the reason for its continues growth and if 90 percent of the users will dump their bitcoin. Its value will surely drop.
But if you say somebody or a few users only who control the dramatic growth. I am not sure if it is possible.

ihsanskanzaone

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could be because the rise in bitcoin prices is greatly influenced by the Chinese country which is the world's largest country of bitcoin users. many speculative speculations circulate that the fall of the currency belonging to China to the dollar to make Chinese investors began berbondong bonded invest their wealth in the form of bitcoin so it can be said bitcoin is greatly influenced by chinese

diagla

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This is not true. The reason Bitcoin crashed is because China closed exchanges and JP Morgan created false FUD in order to buy more Bitcoin, NOT stop it's growth.

illyiller

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Quote from: niotib on September 23, 2017, 04:16:02 PM

The main purpose behind introducing Bitcoin was a digital currency, anybody from anywhere of the world can use electronically. But, what has happened today? People have used to dress up Bitcoin as a gambling tool as well.

So, I think.... Somebody who wanted to see Bitcoin as tomorrow's legal currency type, controlled it's dramatic growth. That's what we're experiencing today.

What do you think?

If you consider the allegations against Okcoin and Huobi -- that they were investing hundreds of millions in USD value from customer funds in shadow banking operations -- it's not surprising to see the exchanges shut down. See here: https://twitter.com/tuurdemeester/status/900027535450353664

And given the dramatic nature of the news, it's not surprising that the market panicked. I think this was just an example of "markets being markets." Call it manipulation -- maybe it is -- but I think that $5000 was also a major psychological level. Maybe, in time, the market would have corrected downwards anyway.

filharvey

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Bitcoin definitely deserves such huge growths since it is a decentralized currency totally uncontrolled by any of the governments.Even though people invest in it on seeing its rapid increase in price,another reason for people adopting it is its decentralized nature.No one could devalue it as it was done for high value currencies in india.Now,we have to accept that a slight price fall is due to china's actions against bitcoin.But it has quickly recovered.Now,i think that the chinese gamblers who once manipulated bitcoin price are totally out of the game.Since now bitcoin has user base world wide,it would be hard for any one to manipulate bitcoin price.

Pleione527

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The reason why some countries banned bitcoin is because the government couldn't find a way to control bitcoin and since they were afraid that it can greatly affect their economic status they banned bitcoin. So as much as someone or government wants to have a control over bitcoin they cannot have it the digital currency are design to become independent without anyone controlling it

Nasty23

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★Bitvest.io★ Play Plinko or Invest!

Quote from: bitcoinvestor on September 23, 2017, 06:01:05 PM

Quote from: ?? on ??

It could happen. we know that the total bitcoin has not reached 21 million, multiply it by $ 5K, I think the world's richest man can do it.

That's why everyone want to be rich with bitcoin. Because of the fat bread many people want to hold the properties , but they are late finally they make rules and regulation that make bitcoin fall in price. That's Jami dimon attack bitcoin but JP morgan bought it when the price dumped. That's shit trick.

Yes as the years past and the bitcoin price is high there are many big investors who also want to enter at the market on which the price is very low that's why they make a bad news that can influence the people to sell their Bitcoin and cause a panic so that they can enter easily at the market.

Seansky

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Quote from: ?? on ??

It could happen. we know that the total bitcoin has not reached 21 million, multiply it by $ 5K, I think the world's richest man can do it.

Anyone rich can simply manipulate bitcoin price now, even an organization can do it. All they need to do is get in the fight amount of FUD and have right amount of bitcoin and a right amount of money in order to control bitcoin price. It is very likely for them to control it if he/she/they hold a thousand bitcoin or more. They can't do it forever so in some point they will stop doing it.

aryaadikariyansyahsuwarto

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This Is Promissing Project

that bitcoin will never receive the award as a legal currency at any time, because bitcoin is actually an electronic currency that can only be online online, even bitcoins are not shaped, so it can not be afforded such a reward. I hope with this fluctuating bitcoin price, it does not harm us as bitcoin loyal hunters.

Pearls Before Swine

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Quote from: niotib on September 23, 2017, 04:16:02 PM

People have used to dress up Bitcoin as a gambling tool as well.

Nah, this is just the free market in action. And it is a pretty free market, minus
all the government reaction to it. And bitcoin isn't being 'dressed up' as a gambling tool.
It really, really is useful for gambling, which is why you see all these hardcore, addicted
gamblers on bitcointalk using it and talking about it to no end. That's the gamblers
talking, not some conspiracy.

Bitcoin dropped back to where it is because...that's what markets do when they're on
fire. That's normal, and it's not (to my knowledge) being influenced by the illuminati,
the mafia, the people who did 9/11, or anybody other than the people who buy and
sell it in the free market.

bitcoinvestor

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Quote from: ?? on ??

It could happen. we know that the total bitcoin has not reached 21 million, multiply it by $ 5K, I think the world's richest man can do it.

That's why everyone want to be rich with bitcoin. Because of the fat bread many people want to hold the properties , but they are late finally they make rules and regulation that make bitcoin fall in price. That's Jami dimon attack bitcoin but JP morgan bought it when the price dumped. That's shit trick.

DuaLipa

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Quote from: niotib on September 23, 2017, 04:16:02 PM

You saw, Bitcoin were step away on hitting $5000.... Isn't it awesome? I jumped into Bitcoin world in march 2016 when the Bitcoin price at $480... and I experienced around 950% growth in last 17 months. Does Bitcoin deserve for such a dramatic growth as a digital currency which is expecting the acceptance as a legal currency type in tomorrow's economy? No, Bitcoin can't achieve such a acceptance with such a fast growth since none of the legal currency today haven't shown such a behavior yet.

The main purpose behind introducing Bitcoin was a digital currency, anybody from anywhere of the world can use electronically. But, what has happened today? People have used to dress up Bitcoin as a gambling tool as well.

So, I think.... Somebody who wanted to see Bitcoin as tomorrow's legal currency type, controlled it's dramatic growth. That's what we're experiencing today.

What do you think?

This somebody is the government itself. It's the chinese government who think it's the center of the world. They think they can control and regulate everything like they did in the past, but bitcoin society won't let this happen.

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