Quote from: Silberman on January 04, 2017, 02:59:40 AM

Quote from: kwukduck on December 29, 2016, 04:06:09 PM

Prepare for free fall guys. The manipulators have taken enough of your money for now and will let the price plummet again to 300-500 levels in order to play the same game all over again.

Anyone thinking this is a free market is delusional. 99% of all coins owned by 5 people lol.

Even if that was the case what is stopping people to convert their bitcoins to fiat or other altcoins and play the same game? Anyone that bought bitcoin one month ago got profits already.

The problem with that logic is two fold. Firstly. When you invest into something that someone else is bought you dont only decrease his power by cutting his cake but also increase his power by making his investition have more fiat. Outcome is as you have said, but its results are far less power than you expect to have.

Secondly its not 5 people. Ofcourse he is widely exagerating. The problem is the small ammount of bitcoins that are being traded, compared to the total ammount of bitcoins, that causes liquidity problems and fake prace is much more valid than on other assets. Even if bitcoin in general is harder to bo faked in price. Its just one aspect of it. Bitcoin is the hardest to fake in price. Dont get me wrong.

Maybe he was talking that 99% of Bitcoins being traded. Thats is way more valid than the total ammount of bitcoins but still I would say its 90%-95% max owned by the biggest traders.

99% of 5% being traded or so is 4.99% of bitcoins owned by 5 richest bitcoinholders. Seems legit to me, but more real is like 4% of bitcoins is owned by those mister x'ses.