Quote:
Originally Posted by AmateurFlix
You might want to take a look at just how centralized bitcoin validation has become before you try to tout that as a virtue. Bitcoin today is not the bitcoin of a decade ago. Transaction validations are HIGHLY concentrated in just a handful of jurisdictions. The price is very easily manipulated by central exchanges and fake volume. Just around 2000 wallets control around 40% of the circulating supply, it's not as well distributed as people are led to believe.
Add to that Blackrock is getting in the game with a bitcoin ETF for swing traders to take advantage of. I've little doubt it will be marketed to the elderly and paranoids to encourage them to dump their life savings into a fund with intentional volatility knowing full well the majority will panic sell and make Blackrock richer.
Bitcoin's price, as manipulated as it already is, stands to get much more manipulated by the big players. It is very far from being a transparent result of the free market.
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I'm only going to comment on 1 of your replies, because you're too ridiculous. 40% of circ supply is on exchanges, when you see 1 address holding a large amount of BTC that is an exchange. You're trying to be deceptive. You are basically a scammer sales man. I honestly hope you can make tons of money off the ElephantMoney scam, but not at the loss of others. I will call you out. Like any scam, you can make money off it, so anyone hoping to "get lucky" by all means go for it, but you have been warned.