Post
Topic
Board Altcoin Discussion
Re: bitcoin is controlled
by
Abiky
on 30/03/2023, 17:11:33 UTC
We can not control bitcoin unless you have more than 50% ownership of the bitcoin. But there is nothing like that. Altcoins are following bitcoins due to money distribution. Because most of the owners of the altcoins are investing in bitcoin. When they get some profits, they will invest in altcoins. So the altcoin prices will increase.

Not 50% of the coins, but rather 50% of the network's hashrate. There's a difference between ownership of coins in a PoS blockchain, and control of network hashrate in a PoW blockchain. Bitcoin is a PoW coin, so it can't be easily controlled by big players in the industry (mainly exchanges) unlike PoS coins like Ethereum and Solana. What can be controlled is the crypto market itself.

Whales have a lot of money "to play with", so they will move market prices either up or down depending on their needs. It'll up to you to play your cards right by buying/selling at the right time. As long as Bitcoin stays decentralized, nothing else matters. Just my thoughts Grin