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Cryptocurrencies aren’t exempt from that, the 2018 Bitcoin boom and bust was likely caused by one whale account[0] manipulating Tether. By your argument, Bitcoi
by save_ferris 6y ago
Cryptocurrencies aren’t exempt from that, the 2018 Bitcoin boom and bust was likely caused by one whale account[0] manipulating Tether. By your argument, Bitcoin will become corrupted because we know it can be corrupted.
0: https://www.google.com/amp/s/www.technologyreview.com/2019/11/04/132066/one-bitcoin-whale-may-have-fueled-the-currencys-price-spike-in-2017/amp/ https://www.google.com/amp/s/www.technologyreview.com/2019/1...
- googthrowaway42 6y agoThe only way bitcoin can become corrupted is if someone gains control of >50% of the hashing power of the network. I'm talking about the integrity of the system itself, not actors within it. George Soros famously did the same thing with the British Pound but the issue with the British Pound is that it is a fiat currency that can be devalued at the whim of a handful of people controlling the system itself regardless of market forces (aka the participants in the system). When Soros or that bitcoin whale "manipulate the market" they are still acting within the system.