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You make it sound like this is somehow a unique property Bitcoin. In truth, every asset and even medium of exchange can and has been manipulated for gain. JP M
by disruptalot 5y ago
You make it sound like this is somehow a unique property Bitcoin. In truth, every asset and even medium of exchange can and has been manipulated for gain.
JP Morgan spoofed the precious metals market and got caught.
In the medium of exchange category, the forex market has been manipulated for decades.
You are more at risk of volatility and manipulation in crypto markets because they are immature. Bitcoin is still in the discovery stage.
- ChuckNorris89 5y ago>In truth, every asset and even medium of exchange can and has been manipulated for gain. Well yeah, that was my point. That's why in many countries with rampant inflation they use USD or EUR, as mediums of exchange because they're currencies controlled by powerful economies and governments which have proven to be mostly stable throughout recent history, save for major disasters, therefore their currencies exert a large amount of trust and stability on the financial markets, vs BTC that fluctuates more extremely more quickly without any brakes from any government as the BTC you got yesterday for selling your PS4 on ebay could maybe now buy you a yacht or maybe not even a big mac.
- nradov 5y agoThe "evidence" of forex market manipulation seems to consist primarily of sore losers complaining that their trading strategies should have been profitable in theory but lost money in practice. Sure if you're trading some obscure low volume currency pair then there can occasionally be some temporary funny business, but no one other than central banks has sufficient capital reserves to significantly manipulate the major reserve currencies.