> I have a hard time believe its anything other than market makers providing the illusion of trades Can you elaborate? I'm guessing you mean whales? Also, how

> I have a hard time believe its anything other than market makers providing the illusion of trades Can you elaborate? I'm guessing you mean whales? Also, how is this any better or different for that matter, for the most stock exchanges like NYSE when most of it is Algo based bit trading? Bitcoin definitely suffers from volatility, how much you can attribute that to large holders (whales) is incredibly difficult; consider that the Japanese government, as were the US Marshalls, fill(ed) that role as they took over Mt. Gox and Silk Road respectively. Other local governments have also created large (relatively to a private individual) mining operations as job creator (Montana). So, again, I'll first ask you to define what a Market is, and what exactly constitutes a Marker Maker, because what you're describing is not exactly clear nor is it intelligible given the context of what the aforementioned are and their roles in price discovery.