Quote from: KennyR on Today at 02:01:34 AM

Quote from: VictorProsh on Today at 01:47:15 AM

Quote from: Dunamisx on June 05, 2022, 01:32:18 PM

Quote from: VictorProsh on June 05, 2022, 09:54:47 AM

What do you think? Is it necessary or possible to control a decentralized cryptocurrency or not.

let's take it from the meaning of it all, we called something a decentralized network, having the full understanding of what the word decentralized means it has made the whole explanation of itself without any need to further stress, Bitcoin is a decentralized digital currency and can not be controlled by any third party, we all understand many attempts from government to regulate and control cryptocurrency but all moves turns void as bitcoin has its system controlled and regulated by itself, only the crypto industries and exchanges can't escape the regulation on tax among others from government since they are centralized.

The main thing is to understand what Bitcoin control is for you. If you mean in this concept that no one can take it away from you or forbid you to dispose of it, then this is true, but you are mistaken! Bitcoin is controlled by its main holders. They manage its volatility and control it very well, while making good money on it. By managing volatility, they become monopolists, and monopoly is the main control over the crypto market.

Agreed, the whales on the market were able to manipulate the market. This isn't long lasting, they were able to do this to some extent. Those are days when the market is infant, whenever there happens a crash the whales make some disturbance and the same crashes the market even further. I remember those days when there is crash, we can see a series of negative news on hacks, stolen funds etc that are intentionally circulated to create panic waves.

I repeat, monopoly is the main control of any market and bitcoin is no exception. A monopolist controls bitcoin through Fiat, emptying your wallets, stuffing his own and try to get out of this control, it is unlikely that you will succeed. The crypto market in this sense completely repeats the currency market. The principle of the market is to make money on the mistakes of other market participants.
Any monopoly inflates bubbles and collects its fragments in time, this is the main tool for enrichment. If there was an opportunity to insure your risks from such losses, life would be more fun.