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Isn't price manipulation the purpose of Bitcoin? The market is so small that you can actually corner it with very little effort, and since it's Bitcoin there's
by HarryHirsch 8y ago
Isn't price manipulation the purpose of Bitcoin? The market is so small that you can actually corner it with very little effort, and since it's Bitcoin there's no one to enforce the rules.
- wcoenen 8y agoNo. According to the original author, the purpose of bitcoin is to provide an electronic payment system that does not require trusted third parties. See the introduction section of https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf
- DennisP 8y agoAs of today the market cap of Bitcoin is $70 billion and the daily volume is $10 billion, so it takes a little effort. And regulated exchanges in the U.S. and other developed countries actually do have to follow some rules.