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Topic
Board Beginners & Help
Re: Controling the BitCoin marked?
by
Pyrus
on 08/01/2012, 17:07:05 UTC
I never understand why everyone is focused on who has more or less BTC.

It's is not about who has more or less or if you have earned a lot of money speculating. It is about if one single person or a very few can control the price on the "free" marked. If they can and nobody knows, it puts them in a position where they can manipulate the price for their own benefit, and that is not a free marked.

The way it's done is by trading with yourself or a partner to unrealistic high prices. When the price is satisfying, you sell them to other people who believes the price is natural. When you then leave the marked, the price will fall again. People go to prison  for such things if it is shares. It is stealing. And it is one of the reasons why share holders owning significant parts of the shares in a company, in most contries always will be known.

Question is of cause if we should see BitCoins as just a way of gambling or as a currency. If it is just for gambling, oh well..... If it is a currency people wants to do real business with, it's an other matter.