Bitcoin Forum
November 10, 2024, 09:48:19 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 [4]  All
  Print  
Author Topic: Aren't we the reason why BTC is becoming too much centralized?  (Read 490 times)
AicecreaME
Sr. Member
****
Offline Offline

Activity: 2450
Merit: 455


OrangeFren.com


View Profile
June 22, 2021, 12:40:44 PM
 #61

So whenever Elon Musk tweets, we panic sell.
Whenever China says something like they'll stop mining and add some extra official shit to it, we panic sell.
When USA says their investors will need to disclose their crypto holdings over a certain amount, we panic sell.

On every panicking news, we panic sell.
They create enough FUD, and we panic sell.

I know I've used the "panic sell" so many times, but have you, for God's sake, ever imagined with a cool mind that whenever we panic sell during shakeouts in the markets, we are actually giving away our BTC to those big institutions who are willing to snatch it away from us, yeah I mean it, every single drop of BTC seems to be taken away from us and it'll be no longer an average guy's BTC which was Satoshi's vision (don't pull me on this, understand the emotions). So if it goes into the hands of these institutions and governments completely, where will we stand? Nowhere. Why don't we understand that it's all more of an intrigue well thought out to wipe out every single BTC hodler (even the smallest one out there) and take away the control from the hands of common people whom Satoshi Nakamoto left BTC with.

There are several reasons why people panic sell. And there's a little we can do about it because it is still their fund afterall. Maybe we can educate to minimize.

The usual people that tend to panic sell are the begginers and the guillibles. These type of people panic sell because they easily believe the negative news about bitcoin without fact checking or hearing second opinion from the professionals. When Elon Musk tweets, a lot go crazy and sell their assets without analyzing the data first. They would rather believe random information they have seen over the Internet instead of looking at the market trend and history of bitcoin.

Despite this panic selling events, I think it's still quite impossible for bitcoin to be owned by the government. Bitcoin is decentralized and they can't manipulate it as much as they want, hence, there is no point in chasing it. What I think is the most probable is that whales will be gaining more and more as long as people will panic sell. The whales are geniuses. They take advantage of the market volatility which can make them earn more profits in the long run.

████████████████████                                                    OrangeFren.com                                                ████████████████████
instant KYC-free exchange comparison
████████████████████     Clearnet and onion available #kycfree + (prepaid Visa & Mastercard)     ████████████████████
Gozie51
Hero Member
*****
Online Online

Activity: 2660
Merit: 630


Vave.com - Crypto Casino


View Profile
June 22, 2021, 09:14:45 PM
 #62


So in summary bitcoin is still decentralized currency.


I think this is a good reminder for people who are rushing into their wallets and on exchange to sell their hodlings either because of Elon musk tweet or that others are selling. Personally, I don't believe Elon musk tweet is the big cause of bitcoin drop but that it got to a time for huge correction. Bitcoin has this way to shield off unmerited value gotten from unnecessary hype either from some popular person tweeting or from a huge buy from an institution.

Also bitcoin is decentralised and that a good factor that it has grown this height. The control factor is out unlike fiat and some centralised coins like ripple. So it has no control or regulation which is a good reason that many invest .

GeorgeJohn
Hero Member
*****
Offline Offline

Activity: 1624
Merit: 720


Enjoy 500% bonus + 70 FS


View Profile
June 22, 2021, 09:32:01 PM
 #63


So in summary bitcoin is still decentralized currency.


I think this is a good reminder for people who are rushing into their wallets and on exchange to sell their hodlings either because of Elon musk tweet or that others are selling. Personally, I don't believe Elon musk tweet is the big cause of bitcoin drop but that it got to a time for huge correction. Bitcoin has this way to shield off unmerited value gotten from unnecessary hype either from some popular person tweeting or from a huge buy from an institution.

Also bitcoin is decentralised and that a good factor that it has grown this height. The control factor is out unlike fiat and some centralised coins like ripple. So it has no control or regulation which is a good reason that many invest .
Actually many people mindset since bitcoin is been dropped via values is that cryptocurrency is now becoming centralized currency, while the evidence is very clear that bitcoin is not under in control of any platform, it has its principle of regulations which government or any individual sector can not control or regulate its values, so paying attention or listening to Elon musk's tweet it will discourage so many people to disvalues bitcoin most especially the newly invested people into cryptocurrency.


█████████████████████████▄▄▄
████████████████████████▐███▌
█████████████████████████▀▀▀
██▄▄██▄████████████████████████▄███▄
▐██████▐█▌████▌███▌▐███▐███▀▀████▌
▀▀███▌██▌▐████▌▐███
█████▌███▌██████▌
██▐██████████████████▐███▐██████▐███
█████▌████████▐██████████▌███▌██████▌
███▀▀████▀▀████▀▀▀█████▀▀███▀▀█████▀▀


▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
|
▄▄█████████████████▄▄
███████████████████████
██████████▀▀▀▀▀██████████
███████▀░▄█████▄░▀███████
██████░▄█▀░░▄░░▀█▄░██████
█████░██░░▄███▄░░██░█████
█████░██░███████░██░█████
█████░██░░▀▀█▀▀░░██░█████
██████░▀█▄░▀▀▀░▄█▀░██████
███████▄░▀█████▀░▄███████
██████████▄▄▄▄▄██████████
███████████████████████
▀▀█████████████████▀▀
 
LICENSED CRYPTO
CASINO & SPORTS
|
▄▄█████████████████▄▄
███████████████████████
█████████████████████████
███████████████▀▀████████
███████████▀▀█████▐█████
███████▀▀████▄▄▀█████████
█████▄▄██▄▄██▀████▐██████
███████████▀█████████████
██████████▄▄███▐███████
███████████████▄████████
█████████████████████████
███████████████████████
▀▀█████████████████▀▀
 
TELEGRAM
APP
|
..WELCOME BONUS..
500% + 70 FS
 
.
..PLAY NOW..
Coroline
Sr. Member
****
Offline Offline

Activity: 1092
Merit: 256



View Profile
June 23, 2021, 11:46:24 PM
 #64


So in summary bitcoin is still decentralized currency.


I think this is a good reminder for people who are rushing into their wallets and on exchange to sell their hodlings either because of Elon musk tweet or that others are selling. Personally, I don't believe Elon musk tweet is the big cause of bitcoin drop but that it got to a time for huge correction. Bitcoin has this way to shield off unmerited value gotten from unnecessary hype either from some popular person tweeting or from a huge buy from an institution.

Also bitcoin is decentralised and that a good factor that it has grown this height. The control factor is out unlike fiat and some centralised coins like ripple. So it has no control or regulation which is a good reason that many invest .
Actually many people mindset since bitcoin is been dropped via values is that cryptocurrency is now becoming centralized currency, while the evidence is very clear that bitcoin is not under in control of any platform, it has its principle of regulations which government or any individual sector can not control or regulate its values, so paying attention or listening to Elon musk's tweet it will discourage so many people to disvalues bitcoin most especially the newly invested people into cryptocurrency.
The layman just goes with the flow of pumping to make a profit and Elon just wants to show himself whether he has any influence in the crypto world. For ordinary people, it is very influential, especially if he is a rich person in the world, but for people who understand the world of cryto and blockchain, this is just a game to take advantage.

It is not a measure for bitcoin to be centralized, only judged by the current price, because bitcoin is not influenced by institutions, exchanges and figures, Bitcoin remains decentralized.
Silberman
Legendary
*
Offline Offline

Activity: 2688
Merit: 1374


View Profile
June 24, 2021, 03:42:18 PM
 #65

You're so damn right! People go on and on about how Musk or other public figures manipulate the price of Bitcoin, but it would've never happened if people weren't so damn stupid and didn't swallow the bait. The human factor, emotions - this is the thing that makes, let's call it pseudo-centralization. Yes, there's no third party involved in price regulation, but people think the same, act similarly, that's why we are in this kind of situation today.
Hopefully, soon people will become more familiar with cryptocurrencies and won't make the same old mistakes.
This is unlikely, people do not learn their lessons as they do not know why they are behaving in the way they do, this is why manipulation is so effective, it gets the target to do what you want without them realizing it this is the case, so even if people eventually learn to not follow Elon another one like him will appear and people are going to fall into this trap once again, only those that are able to see on their own the fact that they are being manipulated will eventually learn how to defend themselves by holding their coins and not listening to what people like Elon have to say.
The hard part is to make people realize they are doing a mistake, that is why we are not doing so great right now, if there was a chance that we could show people how they are doing a mistake and make them realize it, then they could recover and learn the correct way very easily, no human is too stupid to get away from manipulation after they realize they are manipulated but it is not easy to actually convince them the fact that they are manipulated.

A friend of mine who studies psychology explained it to me as "it is hard to realize you are manipulated because you deny it yourself, agreeing to fact that you are manipulated would mean you were tricked and nobody wants the fact that they are manipulated to be true so they deny it" and that sounds reasonable, if you tell someone that Elon manipulates them, and they agree, that means they agree to the fact that they are manipulated by someone else and that makes them feel bad.
It is very interesting and it makes complete sense, after all those that have realized they are being manipulated cannot be manipulated anymore as they will refuse any request from the one that was manipulating them, but people need to realize this by themselves otherwise they are never going to believe it even if you show them evidence they are being manipulated by someone else, which is why we see people maintaining toxic relationships even if for those not in it the manipulation is obvious.
The Sceptical Chymist
Legendary
*
Offline Offline

Activity: 3514
Merit: 6986


Top Crypto Casino


View Profile
June 24, 2021, 11:53:01 PM
 #66

So if it goes into the hands of these institutions and governments completely, where will we stand?
Honestly, I don't think you have much to worry about there.  True, there are a lot of big companies buying up bitcoin, but there always seems to be plenty to go around--at least for the small holders like myself and a lot of people on this forum.  I mean really, were you planning on buying thousands of bitcoins yourself and are worried you might not be able to find enough on the exchanges?  Probably not.

As far as centralization goes, I'm pretty sure it doesn't come down to who owns the biggest amounts of bitcoin but who has the most hashing power in the mining aspect of it.  Bitcoin isn't PoS, so someone holding a million bitcoins shouldn't have any impact whatsoever on the collective bitcoin community, right?  Maybe I'm not understanding your concern, but that's the way I see it.

By the way, I've never given in to the various panics that bitcoin has seen over the last few years.  I tend to go contrary to what the market is doing, i.e., buying when everyone is selling (though I haven't held true to that 100% of the time, I'll admit).  In any case, when bitcoin tanks it doesn't really affect me emotionally such that I'm so scared that I think I have to sell.  Only noobs and weak-handed traders do that.

███████████████████████
████▐██▄█████████████████
████▐██████▄▄▄███████████
████▐████▄█████▄▄████████
████▐█████▀▀▀▀▀███▄██████
████▐███▀████████████████
████▐█████████▄█████▌████
████▐██▌█████▀██████▌████
████▐██████████▀████▌████
█████▀███▄█████▄███▀█████
███████▀█████████▀███████
██████████▀███▀██████████

███████████████████████
.
BC.GAME
▄▄▀▀▀▀▀▀▀▄▄
▄▀▀░▄██▀░▀██▄░▀▀▄
▄▀░▐▀▄░▀░░▀░░▀░▄▀▌░▀▄
▄▀▄█▐░▀▄▀▀▀▀▀▄▀░▌█▄▀▄
▄▀░▀░░█░▄███████▄░█░░▀░▀▄
█░█░▀░█████████████░▀░█░█
█░██░▀█▀▀█▄▄█▀▀█▀░██░█
█░█▀██░█▀▀██▀▀█░██▀█░█
▀▄▀██░░░▀▀▄▌▐▄▀▀░░░██▀▄▀
▀▄▀██░░▄░▀▄█▄▀░▄░░██▀▄▀
▀▄░▀█░▄▄▄░▀░▄▄▄░█▀░▄▀
▀▄▄▀▀███▄███▀▀▄▄▀
██████▄▄▄▄▄▄▄██████
.
..CASINO....SPORTS....RACING..


▄▄████▄▄
▄███▀▀███▄
██████████
▀███▄░▄██▀
▄▄████▄▄░▀█▀▄██▀▄▄████▄▄
▄███▀▀▀████▄▄██▀▄███▀▀███▄
███████▄▄▀▀████▄▄▀▀███████
▀███▄▄███▀░░░▀▀████▄▄▄███▀
▀▀████▀▀████████▀▀████▀▀
southerngentuk
Sr. Member
****
Offline Offline

Activity: 1316
Merit: 254


Sugars.zone | DatingFi - Earn for Posting


View Profile
June 25, 2021, 04:38:33 AM
 #67

This market is one of the harsh money games. The problem is that the new entrants do not have enough awareness of this market and make them pay the price. And this money game really made the greedy people really regret it.

SUGAR
██   ██

██   ██

██   ██

██   ██

██   ██

██   ██
▄▄████████████████████▄▄
▄████████████████████████▄
███████▀▀▀██████▀▀▀███████
█████▀██████▀▀██████▀█████
██████████████████████████
██████████████████████████
█████████████████████▄████
██████████████████████████
████████▄████████▄████████
██████████████████████████
▀████████████████████████▀
▀▀████████████████████▀▀

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██
███████████████████████████
███████████████████████████
██████               ██████
██████   ▄████▀      ██████
██████▄▄▄███▀   ▄█   ██████
██████████▀   ▄███   ██████
████████▀   ▄█████▄▄▄██████
██████▀   ▄███████▀▀▀██████
██████   ▀▀▀▀▀▀▀▀▀   ██████
██████               ██████
███████████████████████████
███████████████████████████
.
Backed By
ZetaChain

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██

██   ██
▄▄████████████████████▄▄
██████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
██████████████████████████
▀▀████████████████████▀▀
▄▄████████████████████▄▄
██████████████████████████
██████ ▄▀██████████  ███████
███████▄▀▄▀██████  █████████
█████████▄▀▄▀██  ███████████
███████████▄▀▄ █████████████
███████████  ▄▀▄▀███████████
█████████  ████▄▀▄▀█████████
███████  ████████▄▀ ████████
████████████████████████████
██████████████████████████
▀▀████████████████████▀▀
Nora Olin
Member
**
Offline Offline

Activity: 154
Merit: 11


View Profile
July 07, 2021, 08:32:40 AM
 #68

Since the issuance of Bitcoin, the price of the currency has experienced numerous plunges and halvings, but it still exists and has become a giant in the blockchain. Whenever institutions and governments send out panic signals to induce speculators to go out, they are constantly absorbing low-cost chips, which means that many institutions are also very optimistic about the future of Bitcoin. For speculators, this is accidental and inevitable. If everyone holds Bitcoin firmly, it means that there is no change of hands, no circulation, and no fresh blood, which is very detrimental to the development of Bitcoin. Inevitably, we cannot control the flow of Bitcoin into the hands of institutions. Speculators should be out, investors should have the last laugh!
jaminunit
Member
**
Offline Offline

Activity: 132
Merit: 14

Co-Founder of TheStandard.io & Vaultoro.com


View Profile WWW
July 07, 2021, 08:55:40 AM
 #69

So whenever Elon Musk tweets, we panic sell.
Whenever China says something like they'll stop mining and add some extra official shit to it, we panic sell.
When USA says their investors will need to disclose their crypto holdings over a certain amount, we panic sell.

On every panicking news, we panic sell.
They create enough FUD, and we panic sell.

I know I've used the "panic sell" so many times, but have you, for God's sake, ever imagined with a cool mind that whenever we panic sell during shakeouts in the markets, we are actually giving away our BTC to those big institutions who are willing to snatch it away from us, yeah I mean it, every single drop of BTC seems to be taken away from us and it'll be no longer an average guy's BTC which was Satoshi's vision (don't pull me on this, understand the emotions). So if it goes into the hands of these institutions and governments completely, where will we stand? Nowhere. Why don't we understand that it's all more of an intrigue well thought out to wipe out every single BTC hodler (even the smallest one out there) and take away the control from the hands of common people whom Satoshi Nakamoto left BTC with.

No, it's because society has become obsessed with the cult of personality while at the same time being told to follow leaders and listen to authority.

When a child says, Why and the parent says because I say so, this sets the child up to blindly listen to authority rather than being taught the logic or reason behind the decision.

The term sheeple is perfect.

I've been a Bitcoiner since 2010, and currently working on TheStandard.io, a next-generation stablecoin, and lending protocol.
The Standard Protocol Announcement thread
Connor Britton
Member
**
Offline Offline

Activity: 101
Merit: 18


View Profile
July 07, 2021, 09:18:28 AM
 #70

Probably you are correct because we easily panic, that's the reason why the market can easily be manipulated by the whales. As of now, there's still not big improvement, crypto market is still a speculative market, we move on hype and FUD and that makes the price so volatile which makes it risky to invest.

However, since most of us want instant return, and it's possible in crypto, newbies are just too attracted to that reality, making them invest in a bull market, or at a peak instead of waiting for the price to dip before they'll invest.

As a result, whenever the price move opposite to their expectation, they panic as their focus on short-term profit.
Many newcomers who have just entered the market are easily intimidated by all kinds of panic news. When they see the price of Bitcoin falling, they will choose to sell the Bitcoin in their hands because they cannot bear this huge psychological burden,And the consequence of this is that they will be recycled by the large institutions behind them. Whenever the market is in a downturn, these giant whales will buy a large amount of low-cost Bitcoin, and when the price rises, they will have a large amount of wealth. Thus becoming a giant whale that controls market prices.
SquallLeonhart
Legendary
*
Offline Offline

Activity: 2478
Merit: 1102


View Profile
July 08, 2021, 06:25:51 PM
 #71

Since the issuance of Bitcoin, the price of the currency has experienced numerous plunges and halvings, but it still exists and has become a giant in the blockchain. Whenever institutions and governments send out panic signals to induce speculators to go out, they are constantly absorbing low-cost chips, which means that many institutions are also very optimistic about the future of Bitcoin. For speculators, this is accidental and inevitable. If everyone holds Bitcoin firmly, it means that there is no change of hands, no circulation, and no fresh blood, which is very detrimental to the development of Bitcoin. Inevitably, we cannot control the flow of Bitcoin into the hands of institutions. Speculators should be out, investors should have the last laugh!
I agree, speculators tend to buy and sell to often, resulting in high transaction cost and the risk of missing out on the next rally. The long term investors are better positioned. The more large institutions are going to invest in bitcoins the more centralised the currency is going to be. But that is not a bad thing, because the bitcoin price will rise. More centralisation means more security and more investors trusting in bitcoins.
Unfortunately they do not even just do it very often with the small amounts, they do it with very big amounts and that causes the price to plummet and skyrocket. I mean think about it, tesla had 1.5 billion dollars worth of bitcoin, they probably bought that all at once, and that probably did cause the price to go up very high, and at the same time they probably sold, or someone else with a lot of bitcoins ended up selling, and that causes it to go down very quickly.

It is not just about selling or buying, it is about how they are doing it with very very big amounts and that causes things to go out of hand. When you see a huge move do not think just their move, all the stop loss, all the leverages all the futures liquidated, all the trading bots these are all the things that gets trigger with just one whale selling or buying and that is why it matters a lot.
AndySt
Legendary
*
Offline Offline

Activity: 2170
Merit: 1012


View Profile
July 08, 2021, 11:48:03 PM
 #72

Unfortunately they do not even just do it very often with the small amounts, they do it with very big amounts and that causes the price to plummet and skyrocket. I mean think about it, tesla had 1.5 billion dollars worth of bitcoin, they probably bought that all at once, and that probably did cause the price to go up very high, and at the same time they probably sold, or someone else with a lot of bitcoins ended up selling, and that causes it to go down very quickly.
It is not just about selling or buying, it is about how they are doing it with very very big amounts and that causes things to go out of hand. When you see a huge move do not think just their move, all the stop loss, all the leverages all the futures liquidated, all the trading bots these are all the things that gets trigger with just one whale selling or buying and that is why it matters a lot.
Well, for Tesla itself, it was hardly large volumes Grin But seriously, it is hardly worth saying that in that particular case, it was the sale by such a large player as Tesla that led to such a significant drop in the price of bitcoin, because a lot of factors overlapped there. But of course, such large sales undoubtedly have an impact on the exchange rate price of an asset, because an excessively large amount of an asset on the market can put pressure on the price drop. However, such players want to maximize profits and usually keep this circumstance in mind and try to stretch such transactions as much as possible in time and volume.
Renampun
Sr. Member
****
Offline Offline

Activity: 2478
Merit: 365



View Profile WWW
July 09, 2021, 06:57:20 AM
 #73

Bitcoin is not decentralized anymore. There are few people manipulating the market which isn't good for small investors. If things are continue to go like this then soon it will be a currency of rich people only and it will affect small investors very badly. Stop selling your coins no matter what.
I'm not sure whales really exist, I think it's just a myth...

we must be able to distinguish what is called a centralized or decentralized coin. Bitcoin since satoshi was created is a decentralized coin, nothing can change that. don't because the price changes because of market conditions then you say Bitcoin is not decentralized anymore. please throw away that mindset.

██████
██
▀▀







▄▄
██
██████

░▄██████████████▀█▀▀████████▄░
███████████░░▀██▄░▀▄░█████████
███████████▄▄▄░▀▀▄░░█░████████
██████████▀▀░░░▄▄░░░▀░░███████
████████▀░░░░▀▀█▀░░░░░████████
███▀████▀░░░░░░░░░░░░████▀▀██
███▄████▀▀▀████░░░░░░░████▄▄██
█▀▀▀▀▀▀▀▀▀▀█████░░░░░░██▀▀▀▀▀█
█▄▄▄███████▀█░░░░░░░░▀███▄▄▄█
█████▄▄▄▄███▄▄▄▄▄▄▄▄▄█████████
█████▀▀▀███████████████▀▀██▄██
░▀████████████████▄▄▄▄██████▀░
First Ever⠀⠀⠀───── Powered by: BSC Network
Leverage Driven CLMM + DLMM Model
───▸Dynamic Fee Structure    ───▸Revenue Sharing
.
.       █
.  █   ███
. ███  ███   █
. ███▄▀███▄ ███
▀▀███  ███ ▀███ ▄
. ███  ▀█▀  ███▀█▀
. ███   ▀   ███
.  █        ▀█▀
.            ▀
Trade
.
. ▄▄▄▄▄▄▄    ▄▄▌‎▐▄▄
▄█▀  ▄  ▀█ ███▀▄▄▀███
█    █    ████ ▀█▄████
█    ▀▀▀▀ ████▀█▄ ████
▀█▄      ▄ ███▄▀▀▄███▀
. ▀▀█▄▄█▀   ▀▀█▌‎▐█▀▀
.▄▄▄▄▄
.████████▀▄ ▄▄▄██▀
.   ▀▀▀██████▀▀
Lend
.
.        ▄█
.     ▄███▄▄▄
.   ▀██████████
.     ▀███▀▀▀███
▄    ▄▄  ▀    ▀█
███▄▄███▄
▀█████████▄
. ▀▀▀████▀
.    █▀
Swap
.
.     ██▄▄
.   ██████
.    ████
.  ▄██▄▄▄██▄
.▄████▀ ▀█████
▄█████ ▀███████
██████▀▀ ██████
███████▄███████
.▀▀█████████▀▀
Earn
.

WHITELIST ME
██████
██
▀▀







▄▄
██
██████
coolcoinz
Legendary
*
Offline Offline

Activity: 2800
Merit: 1191



View Profile
July 09, 2021, 08:40:40 AM
 #74

I'm not sure whales really exist, I think it's just a myth...

Whales meaning big holders or whales meaning holders and manipulators?
If you think they do not exist, spend a minute and ask yourself these two questions.
Are there people who have more than 1000 bitcoins?
If you had 1000 bitcoins and knew this can influence the market and make you money, would you simply ignore it, or maybe start making more money?

Pages: « 1 2 3 [4]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!