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store of value The value comes from being able to manipulate the price, one would suppose.
by HarryHirsch 6y ago
store of value
The value comes from being able to manipulate the price, one would suppose.
- fsdfgsfsdfsdfsd 6y agoHow can you manipulate the price? I suppose there are now some whales, including governments that seized BTC from criminals, that could induce a crash by selling thousands of BTC within a short frame of time. But that may be true for many stocks as well.
- strathmeyer 6y agoThe more dumb stuff people say about Bitcoin, the more room you know it has to rise.
- paulryanrogers 6y agoWhy is the comment dumb?
- fsdfgsfsdfsdfsd 6y agoBecause it is not so easy to manipulate the price, presumably. It depends on the trading volume. For many "altcoins" or "shitcoins" it may be true, because they have low trading volume. Bitcoin probably less so these days.
- ricardo81 6y agoGiven the market cap of 800 billion for BTC at the moment, presumably it should by relatively hard to manipulate. I'd read elsewhere that there was a tiny minority of BTC holders that own 95% of it, no idea of the authenticity of that. As a Layman, my assumption is the more liquidity in the market, the harder it would be to manipulate and less reason to dump onto the market if a large stakeholder.
- fsdfgsfsdfsdfsd 6y agoI think some of the whales could make the price tank, at least temporarily. They include some governments who seized thousands of BTC from criminal operations. But I think the same applies to many stocks. If Musk of Bezos would sell off a majority of their shares in their own companies, it would perhaps also move the price. At the moment, crashes in Bitcoin can also be seen as a good thing because it helps give more people access to Bitcoin. It's even possible that some of the stakeholders (whales with thousands of BTC) occasionally deliberately induce crashes for exactly that purpose.