Bitcoin Forum

Lets say what if bitcoins price is being manipulated be some smart guys we don't know about.
Lets keep a open mind,it would be possible would it not? Some kind of failsafe hidden code only a few VIPs have?Maybe not even a code per say,lets just say their is a hidden protocol to cause a rise in price and their is a protocol to do the opposite. What if
?

So basically like the world bank?

OMFG


YES.

That makes zero sense.  Price is controlled by buyers and sellers, not the protocol code.

Hidden code? Everything about Bitcoin is opensource.

If there were hidden codes they would already be seen by a lot people.

You aren't understanding right. What if that is just what you think?

And this is a technology and just like any other program the programmer can always modify it.

Yes everything we can see is open source.But their is a back door to everything in the virtual world.
If you think the entire technology is just open source you should reevaluate your education on programming.
The first rule is you don't ever lock yourself out of your own program,.

We're not talking about other technologies. We're talking about Bitcoin.

And again, it would have been noticed already if there were backdoors.

What if your computer is being manipulated by someone remotely to alter your mental waves, confusing your thoughts and making a paranoiac of yourself?

you know what,I really just hope you are right and I am just paranoid. You see,I have this problem, I call things out and although they seem extreme what often ends up happening. I remember when I accused the government for spying on us some people actually wanted to fight me because of my accusations.

Hum...
a few years later,It turns out I was right,they have been monitoring you,ill save the details,lets just say I was right about everything.

So you know what , I hope I am wrong.

How the fuck are we going to get a conspiracy theory going here if you keep pointing to reality?

This thread is now a discussion about American made trucks from 1971.

(troll thread)

bitcoin is so clean ... it must be make by alien.  ;D

http://3.bp.blogspot.com/--HhlPKkZLZ8/Up9eZ0iS__I/AAAAAAAAAXQ/HXG4To-rLfk/s1600/bitcoins-alien.jpg

the Bitcoin protocol has nothing to do with valuation of bitcoins in other currencies.

market manipulation is another thing altogether.

OMG you're right, "they" even invented a secret programming language to embed it in the punctuation of the published code, http://en.wikipedia.org/wiki/Brainfuck

You are the chosen one to whom this has been revealed, please study this language, and extract it from the bitcoin code, so we know what they are really doing!

they always laugh up all the way till the realize I was right all along.

Bitcoins?

Government!

Move this to off topic please :)

But the government made the medication to stop the voices from telling people the truth.

When did I ever say that every competent coder who has examined bitcoin is in on a conspiracy. A lot of people blow things way out of proportion but I had to give you the award wow. Control your brain button? You don't even know the definition of conspiracy if you do you are using it wrong.

btc is pure supply/demand economics

the congressional think tank that analyzed btc stated in their report it was as close to the old gold standard as a currency could be

it reflects real world desire to obtain/use/horde it

don't make me go off on a philosophical rant about the nature of awareness and certainty.
We always don't know what we don't know.

But what I do know is that the exchange price has nothing to do with the code.  if you can't understand that, I don't know what to tell you.

THERE IS NO "MANIPULATION". IT CAN"T BE. COINS ARE NEEDED TO MOVE THE FIRST TRUE MONEY MARKET IN WORLD HISTORY!
It's only if someone is emitting USD to bury Bitcoin, or using faked USD to to the same like Mt.Gox was. But that's more of a fraud than manipulation.

Won't you people get that finally?

Pretty much all the exchanges are "off chain" anyway, blockchain gets BTC into them, and BTC out of them, but on the actual exchange, they maintain their own ledger. It's kind of like claiming the US postal service manipulates Amazon pricing.

LOL

the bitcoin protocol (blockchain) is open source and hundreds of people have looked at the source to know it has no hidden code.

but the OP is not talking about the blockchain/protocol. the OP is talking about the crappy PHP exchanges that may hav crappy code. for instance all the so called exchange hacks and malleability code where PHP programmers have not done much security bug fixes to ensure that people cannot mess with exchanges.

again bitcoin blockchain protocol is safe. but we cannot blindly trust exchanges, as they are the places people look to for value.

i have seen it myself on a few exchanges where people can buy cheaper coins than whats on the order lines. many have talked about hacks and backdoors of exchanges so the OP is correct. the crappy exchanges do have potential to me messed and manipulated by smart people.

what is needed is no more crappy basement dwellers hobby sites offering exchanges, but proper security grade exchanges, which hopefully things like circle and the winklevoss exchange will bring to the community.

once there are truly trustworthy exchanges that meet or exceed the security of the world stock exchanges, then the trust of bitcoin true value can be obtained.

for now the only closest we can get to a true value is localbitcoins/OTC swaps as they are deemed to be more direct bitcoin for fiat trades as oppose to MySql database alterations