Massive bitcoin manipulation possible?

[Harrisonimo]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

I have had this thought and believe that it is quite possible for someone or some group of persons to go on and manipulate the Cryptocurrency market; directly or indirectly. I do have my reservations though as to why the system could be so tampered with at will. Just getting know from someone that a guy intentionally did a transaction that has held the blockchain on a lockdown; quite outrageous but it has happened. There are truly some Heads making some decisions in this regards

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[szpalata]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

I have had this thought and believe that it is quite possible for someone or some group of persons to go on and manipulate the Cryptocurrency market; directly or indirectly. I do have my reservations though as to why the system could be so tampered with at will. Just getting know from someone that a guy intentionally did a transaction that has held the blockchain on a lockdown; quite outrageous but it has happened. There are truly some Heads making some decisions in this regards

Well for this group to manipulate things it means they hold a big chunk of bitcoins and i think we should allow them because just like majority share holder in a company they can throw their hands around and command certain things not all of us can,.

[alexzorgo]

The latest events with BitcoinCash completely proved it. So far capitalization of the market is small to have enough approximately up to 10% of capitalization of coin to have opportunity to influence its cost. So far at the moment exist  mining of currencies in the current type, it is peculiar gap in safety of currency too

[jc89]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

That's what is happening the whole time. These "whales" can easily and is manipulating the market in favor of them. Bitcoin can drop even though a fraction of Bitcoin is sold to to an exchange. This is how volatile Bitcoin is. So just think about these "whales" sold some Bitcoins, not in fraction but in whole, it will sure make a huge impact on Bitcoin's price.

Another are these popular, known and influential people. Once they provided a statement that is negative enough, it could make the price down. This is the same when they give positive statements, it would make the price surge.

So is it possible? It has been this whole time.

[orions.belt19]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

yes it is possible, thats why we have whales. whales are group of people or individual that is so powerful and extremly rich that he buys a massive amount of bitcoin to somehow manipulate the bitcoin markets. not only bitcoin but also some other coins like bitcoincash which was happened lately.

The whales have said to be manipulating the price and greatly contributed to the frequent pump and dump we have been experiencing because they want to gain or profit. Just recently, the hype over the pump for bitcoincash was said to or rumored to be controlled by a man who have a huge amount of bitcoin. Because of the thousands of bitcoin at his disposal, he has the capability to create this kind of pump and dump. What OP has been asking is quite true and it's the reality were experiencing now.

[ashfer]

Bitcoin has nothing to with the rich and the poor.I don't think that the rich and powerful people can manipulate the market of btc.Only the investors or the users who hold btc in their wallet has the power to increase or reduce the value of btc depending on the number of btc they are holding say for example if a person is holding 300 btc and is going to sell off all his btc then the price of the btc will crash.

[kier010]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

that is possible, they can affect the market. just like bitcoin cash it is possible that they are manipulating it so they can make more profit.

[krisnt80]

Its already happening those, we do have bitmain and some others powerfull mining pools wich are able to influence a lot the price, there is like a monopoly of miners and they can push the price up and down anytime, sure there are now more players into crypto soo isnt soo easy as before to manipulate the value, and well we the medium and small investors can or not support the new values, but since bigger is good for all usually.

[mrcash02]

It's possible, but to make this manipulation possible they must be working together on the same purpose and I don't know if it works this way as each whale has their own interests and will try their best to make other whales lose to rule the market. However, some Crypto enthusiasts say it's not possible to happen... I don't understand why they say it anyway.

In my opinion a manipulation like that could ruin the currency, but as I observe these greedy people are more interested in killing Bitcoin than manipulating this.

[dulce dd121990]

yes it is verry much possible! Rich and billionaires can really manipulate the bitcoin, specially a grop of this people. As we can see what is happening today. Lot of investors are the reason on the bitcoin market value ups and down.

[darthmaul]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

I think there is currently a live example of that thing called as BCH pump is going on. If you see the market of bitcoin cash then you will see that it has been manipulated by massive 8-15 billion USD which was artificial pump by Roger (a fool). That and the bitcoin and any other alt coin can be manipulated if you have got big billions. That is the game here and that is how things are manipulated and profits are gained by rich people. This is all possible because of one characteristic  of the bitcoin and that is called as Decentralised nature of the bitcoin. So yeah simple everything is manipulated and can be manipulated always. :-)

[Shamie1002]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

You really dont have to ask now. It already happened. Well answering your question, yes it can. And in my opinion, it doesn't have to be a rich people.
Even if a small group of people can manipulate the price by unity.
Greed can definitely make someone so selfish that they can do such thing to trick others and earn through others hard work.
I think this is one of the most terrible thing that could happen over time.
The only advise I can say is that people should know how to react to such events.  Wise decisions are needed to lessen or avoid losing investments.

[Kingofbitcoin12345]

I do agree but taking that as a whole view of whatever happening on bitcoin price is not true.. 2017 is a different story and all new investors are genuine to they’re intentions to profit from it.. We can’t speak beyond what is true than what is speculative opinion by anyone towards a billionaire perspective that we are ourselves are not one of them.. So,, this needs to be given consideration..

[salihno71]

Unfortunately, this world is currently such that with enough money, you can do whatever you please. You can start wars for your own benefit, manipulate public opinion, sell crap for useful stuff and - why not - manipulate the price of the bitcoin. In this case it would take probably several billions.

[NavySeals]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

Well, this depends. If they have 10,000s or 100,000s bitcoins, they can simply manipulate the price in the direction they want. They can make pump and dumps, or price speculation/manipulation.

This actually happens in altcoins, but for bitcoin, the capital needed is huge.

[vtypromo]

I believe bitcoin had been massively manipulated ever since it was created until now.  I believe this huge spike and huge dip is made by Bitcoin whales thinking that by doing this kind of stuff will enable them to make their holding bigger and hoping weak hands sell to their buy wall.  This is no news and cannot be avoided.  It is best to ride this whales scheme to book profit.

[777asianinvasian]

Surely is possible but is not probable unless you get a few huge whales together. Over the past few months there have been allegations about a "spoofy" not sure whether this is a trader or a group but they do manipulate BTC so saying this cant happen isnt right because it likely already has happened.

[amaral1977]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

You have several examples of BTC market manipulation that already happened or alegedely happened... Just as examples the huge market manipulation by Chine with the Exchange ban news.. it is said the sole purpose was to control some of the chinese exchanges, Other example was the segwit 2.0 news and cancelation and imediate speculation on Bitcoin cash.

[freeyourmind]

Why not? When you look carefully around you can see that. It is possible to find many clues about this kind of manipulation.

[Oceat]

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc

Well, this depends. If they have 10,000s or 100,000s bitcoins, they can simply manipulate the price in the direction they want. They can make pump and dumps, or price speculation/manipulation.

This actually happens in altcoins, but for bitcoin, the capital needed is huge.

You never know those addresses on blockchain who holds a lot of Bitcoin those are Whales except on exchanges. How would you react on such huge amount of Bitcoin they were holding and i am sure they were the ones who can manipulate the price of Bitcoin by using their power as a top Bitcoin holder in our society.