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Author Topic: Can forking fix possible price manipulation?  (Read 35 times)
Ucy
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April 08, 2018, 09:15:35 AM
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I was wondering if forking could prevent a possible price manipulation of Bitcoin?



What if a rogue AI is manipulating the price of Bitcoin and preventing the Cryptocurrency from moving naturally as intended. Rogue code sitting somewhere manipulating the price of Bitcoin means Bitcoin has been Centralized and corrupted. It is time to save Bitcoin from the rogue codes.
Bitcoin is not Gold or Silver that are easily manipulated. Satoshi anticipated this sort of Centralized behavior and he left some fixes/safety measures behind.

Bitcoin was never meant to be Stable. Satoshi discussed making Bitcoin Deflationary. If you want a stable Bitcoin you could create it on a Sidechain or something, not on a Deflationary currency.
 If Bitcoin stays stable for a long time then the best thing will be to hire some research group to audit the entire network and find out whether the manipulation actually exist, if it does exist then forking could be a possible fix to problem? Bitcoin must be allowed to run as it was intended to. We want Bitcoin to move naturally. The extreme price rise of Nov-Dec and the current price control were not part of Bitcoin design. Many actually  complained about the extreme rise in price. No one chaotic situation. People want Bitcoin to move normally as it was planned. Time to stop the wicked price manipulations.

Bitcoin can not be defeated!
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April 08, 2018, 10:42:17 AM
Merited by paxmao (1)
 #2

I was wondering if forking could prevent a possible price manipulation of Bitcoin?

I really don't see how this could prevent it. Whoever is manipulating the price will move to this fork alongside the rest of the users.

As for Bitcoin's deflationary tendency in the long run, I don't know how this would help against price manipulation either.
Deflation would be pretty small, only due to people losing access to the bitcoins and the amount of bitcoins in circulation would stay pretty stable over time.

Bitcoin doesn't necessarily have to be the same as it was inteded. It is ok to innovate and it is ok to address any possible problems or concerns we didn't know about in the past. But discussion about this isn't really useful, since we couldn't stop it from evolving even if we wanted to.
There will always be forks and there will always be new implementations, we can only hope that majority will pick the best.
Ucy
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April 08, 2018, 11:32:46 AM
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I was wondering if forking could prevent a possible price manipulation of Bitcoin?

I really don't see how this could prevent it. Whoever is manipulating the price will move to this fork alongside the rest of the users.

As for Bitcoin's deflationary tendency in the long run, I don't know how this would help against price manipulation either.
Deflation would be pretty small, only due to people losing access to the bitcoins and the amount of bitcoins in circulation would stay pretty stable over time.

Bitcoin doesn't necessarily have to be the same as it was inteded. It is ok to innovate and it is ok to address any possible problems or concerns we didn't know about in the past. But discussion about this isn't really useful, since we couldn't stop it from evolving even if we wanted to.
There will always be forks and there will always be new implementations, we can only hope that majority will pick the best.

Devs could fork to prevent such manipulation from happening just as people softfork to stop cheating miners. Nothing is impossible.
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April 08, 2018, 11:52:30 AM
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If they are allowed to go away with this next they may stop the Blockchain itself from being uncensorable and nothing will happen.
I notice they get away with things easily by acting slowly and gradually — it works most of the time.
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April 08, 2018, 12:43:00 PM
Merited by paxmao (1)
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I believe that the globalists/bankers are quietly storing Bitcoin as a long term investment. This serves two purposes. It reduces its usability as a daily payment processing system, and it increases the value of the coins. Any price volatility is probably being used as buying opportunities, and is fed by fake medial stories, and suspect trades. I'm not sure that you can do anything to counter that at the blockchain level.
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April 08, 2018, 09:27:18 PM
Merited by paxmao (1)
 #6

I don't think a hard fork would fix anything as mentioned above the people involved in manipulating would just following and benefit from both.

I would suggest following the Nano and BitGrail Class Action Lawsuit which is Seeking Hard Fork on Court. This court case has no major grounds and will not progress. However if it does it will be an interesting president and will definitely effected the way manipulation is handled.
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