Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin become a true decentralized currency?
by
Ucy
on 13/07/2021, 10:54:17 UTC
The whale manipulates its value and is so easily manipulated. Is this decentralization?


I guess you mean whales manipulate the price.
Well, the price is based on demand and supply...so certain people would try to exploit/manipulate this for selfish reasons and to the detriment of the Bitcoin community/users.
If you allow Bitcoin to have a robust internal and fairly independent economy, and/or have better decentralized mechanism for checking price manipulation (which creates extreme price volatility), we wouldn't be worrying much about manipulation.
Besides, I wonder what currency/asset can't be manipluted if you allow people to attack/exploit it without being penalized.
Even Gold price seem suppressed and that sounds like manipulation to me, yet gold is fairly decentralized.