the Illusion of value

[ronhexy]

Newb here (i am still asking question that needs laymen answers)

If it is possible to transfer bitcoin with ZERO fee or close to zero (at least until mining ends), wouldn't it be wise for MEGA-chinese miner or mega-bitcion-holders to exchange bitcoin with themselves just to control/manipulate/stabalize THE VALUE of bitcoin?

That might sound dumb, but if i was mining 25% of all bitcoin(like some chinese miner), wouldn't be wise to use my bitcoin to create false transactions just to keep the price up or stable or what ever benefits me most?



Thanks

[shorena]

Newb here (i am still asking question that needs laymen answers)

If it is possible to transfer bitcoin with ZERO fee or close to zero (at least until mining ends),

It is possible under certain conditions, but you will probably wait a long time for a confirmation.

wouldn't it be wise for MEGA-chinese miner or mega-bitcion-holders to exchange bitcoin with themselves just to control/manipulate/stabalize THE VALUE of bitcoin?

Exchange bitcoin for what? Also if you try to hold a price against the market you will most likely lose money, so I doubt its a wise decision.

That might sound dumb, but if i was mining 25% of all bitcoin(like some chinese miner), wouldn't be wise to use my bitcoin to create false transactions just to keep the price up or stable or what ever benefits me most?

You cant create a false transaction. If you do and include it in a block you find, the block will be considered invalid and not accepted by the rest of the network. You just wasted 25 BTC. Lets just assume it would be possible for you to create a malicious transaction, I would certainly not keep the price stable, but more likely cause a panic sale.

Thanks

[AgentofCoin]

...
...wouldn't it be wise for MEGA-chinese miner or mega-bitcion-holders to exchange bitcoin with themselves
just to control/manipulate/stabalize THE VALUE of bitcoin?

Value of bitcoin is not based on "transferring" it around or back and forth.
The value is based on what people are willing to pay on the exchanges or through in-person trades.
That value is based on the need or desire to own bitcoin at that moment.

If the bitcoin price is "stable" it is because people are buying the available coins at a steady constant rate.
If they buy less, the price would go down, since now too many coins are in supply.
If they buy more, the price would go up, since now too many coins are in demand.

That might sound dumb, but if i was mining 25% of all bitcoin(like some chinese miner),
wouldn't be wise to use my bitcoin to create false transactions just to keep the price up or stable or what ever benefits me most?

As I stated above, the price is based on what is actually being bought and sold in the exchanges,
not what transactions are moving through the bitcoin network. Transaction numbers should not effect bitcoin price.

If a miner was placing their coins on the exchanges, and were buying and selling them over and over,
it would be likely over time that they would be doing this at a loss to themselves.
So in order for them to stabilize the "value", over time they would be losing money, even without fees.

[simon66]

I think you are talking about creating fake BTC on chain transaction volume similar to the fake volume the Chinese exchanges are suspected of. I see no reason this can't be done even with paying the modest .0001 fees because that is insignificant when you are moving enough BTC for it to make a difference to the total transaction volume count.

BTC transaction volume may be a small factor that you could look at to determine the success thus far of bitcoin but I don't think it makes enough difference to heavily effect the price.

[Amph]

miners are actually manipulating the value, to permit their profit to stay almost the same no matter the halving or anything else

they have earned plenty of coins in all those year, they can easily manipulate any exchange if they work together