Is Quantum Computing News Utilized to Manipulate Markets and Crash BTC

[Hydrogen]

News stories were published about google achieving quantum supremacy on september 20th, 2019:  

https://fortune.com/2019/09/20/google-claims-quantum-supremacy/

Shortly after, bitcoin crashed from above $10,000 down to $8,000'ish.



On october 22nd and 23rd, the original story from september 20th was republished by many media sources:

https://www.npr.org/2019/10/23/772710977/google-claims-to-achieve-quantum-supremacy-ibm-pushes-back
https://www.sciencedaily.com/releases/2019/10/191023133358.htm
https://www.rt.com/usa/471636-google-quantum-supremacy-claim/
https://gizmodo.com/google-confirms-achieving-quantum-supremacy-1839288099

Bitcoin crashed from above $8,000 down below $7,500.



There is always much being said about market manipulation. These examples could illustrate what market manipulation looks like in real world application.

Bitcoin's price could still be above $10,000 if it wasn't for an organized and coordinated attempt to manipulate its price and devalue it. In the future, we could see bitcoin's price decline everytime the news says something about quantum computers. Not due to an actual danger to crypto's security but rather as it suits the political agenda in place.

It would parallel the last 2+ years where media sources and banks have conspired to crash bitcoin's price by re-publishing unverified claims about tether being market manipulation designed to artificially prop up the price of bitcoin.

[CryptoBry]

Is Bitcoin still an easy to manipulate these days after the many years of exposure to market realities, FUDS, hypes, severe criticisms and the likes? And if this can be true, then I have to assess my involvement with this market...as I am made to assume that we are already resilient can can't easily be mislead anytime and by anyone trying to manipulate the balance of the market forces.

Personally, I don't believe that news on quantum computing has been that major factor why demand for Bitcoin suddenly crashed. This story and that of Libra have already been factored to the $8000 level. There must be other reasons why just experienced a "crash" hours ago. Days from now, I am sure those reasons will start to emerge from the underground belly of cryptocurrency.

[Kakmakr]

When you take the complexity of Bitcoin's algorithm and also the complexity of Quantum computing, it just makes sense that speculators will use more complex technologies to confuse uninformed people to manipulate the markets.

I have seen very deep discussions on this topic and I think many of the things that was discussed about this are a bit too complex for the average newbie trader that are not interested in things like that.

So they know what Bitcoin is and they know a little bit about Quantum computing and when these people distribute FUD about it, they simply accept it as facts and they panic. 

[Ucy]

Well, I feel sorry for people who are easily bothered by news. People need to eliminate this distractions to enable them focus more on doing the "right thing". I am not saying that reading news is bad, but when it becomes a problem in your life, you'll have to avoid it. Avoid those media that constantly "threaten"  you with scary stuff. Or those that make predictions that hardly come to pass. Such news prevents people from thinking rationally.

Just bear in mind that investing what you can't afford to lose is not advisable. Have other sources of income. Learn to stay safe in this community and you will be fine.

Don't allow fear rule your life.

[elda34b]

There is no way to verify it. We can only connect the dots, but it's possible that those connections never exist at all.

Just because Y happened after X, does not mean X cause Y to happen.

[AniviaBtc]

In terms of Bitcoin's ability and quantum computing, developers will adapt more about technology to control the people who don't about these things in the market. It is focused about the beginners who are not yet knowledgeable in trading.

[Wexnident]

Possibly so, but we can't really know and there's really no way to determine if it really has affected the market so much that BTC actually crashed. I kind of want to refuse to believe that the BTC market could still be manipulated by news and such since BTC has come through many news that are much more negative about it compared to quantum computing of google. Besides, don't they see that the threat of quantum supremacy to bitcoin is still far off in the future? It's not like the crypto community is in stagnant progress. It's progressing each and every day and well, we should know that it would try to prevent quantum supremacy from reigning over it and destroying everything it has been up to now right?

[blckhawk]

It could be a possibility, however we can't tell whose agenda is it. We don't really know what's in store to these institutions and what they're planning to crash the bitcoin price. However, ehat we could do is to educate people here in the forum and other holders that we shouldn't really be afraid of this "quantum supremacy" as they say. There are some videos online dedicated to explaining if quantum computers could really break encryption, and the answer is no. We need to encourage them not to get driven by these news. Or maybe it's a cooperation of a whale and media site to dip the price? No one knows.

[mu_enrico]

Okay, last time I read about avocado, stock to flow, and now quantum computer news. I don't think these factors significantly determined the price movements.

I think we are closer to the flying car or hovercar era than the quantum computer era. In other words, I'm skeptical about quantum computers "progress" stated in those posts.

[fenixosup]

This stupid quantum story even not actually real but its already affected price so much

[Pearls Before Swine]

Is Bitcoin still an easy to manipulate these days after the many years of exposure to market realities, FUDS, hypes, severe criticisms and the likes?

Yeah, I think it is.  Even tho bitcoin's market cap is in the hundreds of billions now, the number of individuals and/or institutions who own it has still got to be fairly small, so it wouldn't take many of them selling all at once based on some news to make the price drop $1000 or even lower.

I did read the story about google and quantum supremacy, and I'm really not qualified to evaluate it on a technical level.  I do know that bitcoin hasn't been compromised yet, and it probably won't ever be.  So I have a hard time believing that this is why bitcoin dropped so much recently. 

There have been a few things going on simultaneously, like Bakkt and Libra's struggles with regulators and all of those things combined could have contributed to what we're seeing in the market right now.

[Willitivity]

Bitcoin is very fluid and easy to manipulate. Regardless of the increasing level of adoption, there is still this background fear by bitcoinners, a very significant number of them still believe that Bitcoin will soon 'burst' but for the meantime, they are just playing the game. If one thing, this quantum computing development should be done in much way to promote Bitcoin.

[uray]

I did read the story about google and quantum supremacy, and I'm really not qualified to evaluate it on a technical level.  I do know that bitcoin hasn't been compromised yet, and it probably won't ever be.  So I have a hard time believing that this is why bitcoin dropped so much recently.  

The claim of quantum supremacy is just not true, they are able to compute certain things but that cannot be called supremacy and if the price drop is related to those news then the price would have gone to zero rather than hovering around $7k, it will take decades to have something of that sort level of supremacy and there is nothing to worry at this time.

[panganib999]

There is no way to verify it. We can only connect the dots, but it's possible that those connections never exist at all.

Just because Y happened after X, does not mean X cause Y to happen.

There's not single assurance that the news about Google already achieving Quantum Supremacy drove and manipulated markets, there's no way to know or trace the real reason that have caused it. It could be caused by how the people are doing inside the space, but I don't think that freshly reported news already had that effect in the market for the markets movement has been moving unpredictably just before this news.

[AmoreJaz]

When you take the complexity of Bitcoin's algorithm and also the complexity of Quantum computing, it just makes sense that speculators will use more complex technologies to confuse uninformed people to manipulate the markets.

I have seen very deep discussions on this topic and I think many of the things that was discussed about this are a bit too complex for the average newbie trader that are not interested in things like that.

So they know what Bitcoin is and they know a little bit about Quantum computing and when these people distribute FUD about it, they simply accept it as facts and they panic.  

you have a point here! if someone is already talking with technical stuffs and other high falutin words, people got scared and panic!
we should be more objective on these things and learn what is the real score.
we can do this by doing our own investigations on how they can actually impact crypto system and other related stuffs.
we should not rely on media as most of them are just opinion and have no strong basis...

[Searing]

I think it is more likely Miner Capitulation myself. Sorry to say.

Folks have been mining (IMHO) 65% Bitmain S9 units of many flavors, which are approximately, again, IMHO above 65% of all such sha-256 POW miner units mining.

Same with scrypt-pow and Bitmain L3+ IMHO, if not a bigger percentage, though in fairness a lot of those machines are dumping off.

In other words, IMHO, this month is when folk finally toss up their hands and pull the plug on these units at least. End of the month, data hall bills have to be paid,

cashing out at a loss...the usual.

Again, this month the rubber hits the road, hopefully, fewer folk will be selling BTC/Crypto to keep the miners going and hopefully HODL their BTC/Crypto.

Chump or Champ, time will tell I guess.

But that is my current view of less what the OP thinks on Quantum Computing news and manipulation of the market...it is more..fingernails on window sills for miners

hanging on...and finally having to shut off the above ASIC's. The circle of ASIC greed don't ya know.

Anyway, what, I think.

Brad

[Eugenar]

There is no way to verify it. We can only connect the dots, but it's possible that those connections never exist at all.

Just because Y happened after X, does not mean X cause Y to happen.

basically, one can cause something to happen, but through the fact that we are directly relating the quantum computing news to the reason why bitcoin market price declines seems inappropriate. The reason is because, not all traders do believe that quantum computing can decrypt the security of crypto. In addition, when quantum computer computers, algorithm from normal desktop or pc that we have will be the same processing to happen using quantum computer.

see resources here: https://www.technologyreview.com/s/613596/how-a-quantum-computer-could-break-2048-bit-rsa-encryption-in-8-hours/

[lionheart78]

 I think it is just a coincidence just like the raise of Bitcoin when China announces about adopting and being the leader of blockchain technology.  I agree that the Bitcoin market is heavily manipulated but that quantum computer stuff crashing bitcoin is just an exaggerated imagination.

There is no way to verify it. We can only connect the dots, but it's possible that those connections never exist at all.

Just because Y happened after X, does not mean X cause Y to happen.

basically, one can cause something to happen, but through the fact that we are directly relating the quantum computing news to the reason why bitcoin market price declines seems inappropriate. The reason is because, not all traders do believe that quantum computing can decrypt the security of crypto. In addition, when quantum computer computers, algorithm from normal desktop or pc that we have will be the same processing to happen using quantum computer.

see resources here: https://www.technologyreview.com/s/613596/how-a-quantum-computer-could-break-2048-bit-rsa-encryption-in-8-hours/

this is just a theory and not yet to realize soon. So by then Bitcoin had already upgraded to a qc resistant blockchain.

[Leonardo7]

Maybe some persons thought bitcoin was going to see $1,500 because of the quantum computer FUD, and they quickly sold off and by the time they woke up, bitcoin has reached $9,600. Humans will never learn that this market is runned by rumour to buy cheap. I am sorry for the people that sold off cheap.

[eaLiTy]

It would parallel the last 2+ years where media sources and banks have conspired to crash bitcoin's price by re-publishing unverified claims about tether being market manipulation designed to artificially prop up the price of bitcoin.

There are many media outlets republishing old news for a long time and it is nothing new, the recent quantum computing new is just basic test results that they achieved with random inputs and if we read the published article about the quantum development we will understand that it is just basic and there is a lot of to achieve in order to say they attained quantum supremacy.

When we take a look at the reason why the market went down the future market might be the reason for these massive volatility.