Hi Guys! i hope you all are doing well i am not new on this forum but new to this thread and i heard a lot about this thread from Jayjuan gee we have many talks on another thread. I came to learn a lot about this forum from JayJuanGee. I hope i will learn a lot here too. That's all for my introduction. Thanks.
My question is after reading this thread i began to think that how Block Rock only have the potential to affect the BTC price because the OP who made that thread, first mentioned the wrongdoings of Blackrock like to create some suspense or horror in the minds then he mentioned that BlackRock has the potential to manipulate the BTC price. Because so far from what i have learnt that's not possible for single entity until a huge group of validators or miner did not make and huge whales do no decide to dump the market. Or maybe i am at wrong but hey let's hear from the experts here. Yeah, i know members here are mostly legendary and they have great experience. That's what i have been told.
The thread i am talking about. Well, i now i should reply there but what i could reply there if i cannot understand the exact meaning of the statments.
Should the Bitcoin community be concerned about BlackRock? Then i came to remember what jayjuangee said, he said i can ask anything here.
I'm not legendary, but will anyway say. First, what do you understand by manipulating the price of bitcoin?
If market manipulation, then no miners have anything to do with this. They can also sell or buy bitcoins, but this is no longer directly related to mining, because in the exchange market they are the same players as everyone else.
I haven't heard of any validators either. Maybe it refers to some centralized organizations that use bitcoin? Then it also has nothing to do with bitcoin.
Only the whales remain. And, of course, BlackRock, if it comes to the market, may become one of the big whales, but it will not be the only one. And bitcoin is an open market. There is no way we can prevent BlackRock from entering it, nor can BlackRock monopolize it, because there are a lot of whales on the market, each with their own interests.
Personally, I do not like the arrival of centralized funds that will control large amounts of bitcoins, offering their clients ersatz bitcoins that there will not even be much control over. But I understand perfectly well that I can neither prevent nor contribute to this.
Accordingly, it is important to remember that true bitcoins are only on the bitcoin blockchain, any ersatz bitcoins from funds are not true bitcoins, and may behave quite differently from true bitcoins, and have a completely different value. Therefore, it makes sense for yourself to choose only true bitcoins. No matter how big funds try to manipulate our opinion.
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