Post
Topic
Board Trading Discussion
Re: Are the Whales Control bitcoin price?
by
uchegod-21
on 22/06/2023, 09:40:24 UTC
we all know no one can controls the bitcoin price because bitcoin isn't like bank, stock and valas. but if the whales owned 51% of bitcoin, can do it?. if happen, does decentralization not exist?
Whales have the power to manipulate the prices of coins and this is more evident in altcoins that has lower price and low market cap. Bitcoin is not very easy to manipulate this team, you are definitely gonna risk so many resources which may turn bad for you.
Talking about if whales own 51% of bitcoin whether it will affect decentralization. The 50% attack is not about the number of bitcoin owned but the computational power. So, nothing will happen to decentralization because bitcoin network is based on PoW and not PoS.