Destroying Bitcoin

[crytolog]

The big companies are buying bitcoin and manipulating the market. one day they will start to sell all bitcoins and we will have a very big shock. imagine that you think that crypto is your enemy, if you want to destroy it, first you will buy as much as you can, you will make the market goes up, after you will sell all coins and you will destroy the market, take money of small investors and make them hate the crypto.

when i saw a company buy big amount of coin, i afraid.

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[Charles-Tim]

The big companies are buying bitcoin and manipulating the market.

Bitcoin market is hard to be manipulated, unlike the altcoins. This can be a suitable statement for many altcoins but not for bitcoin. Bitcoin with a marketcap of almost a trillion dollars is getting stronger than to just be manipulated. Also know that many institutions are the ones getting into Bitcoin investment more, these companies knows what are required in a way bitcoin price will not be manipulated the way you think.

imagine that you think that crypto is your enemy, if you want to destroy it, first you will buy as much as you can, you will make the market goes up, after you will sell all coins and you will destroy the market, take money of small investors and make them hate the crypto.

Bitcoin is not an enemy to anyone, if you like, you can buy it, it is not by force, and people that are getting into it know about the volatility before getting into crypto buying and selling. Know that as many as possible altcoins can collapse, like the Chainlink that 80% of its present circualtion are on addresses controlled only by 125 wallets, Bitcoin is not the case, it is widely and well distributed in a way such manipulation can not happen. Also this can happen to many pumped coins that will later be dumped but Bitcoin is just a perfect crypto asset that can be manipulated like that.

when i saw a company buy big amount of coin, i afraid.

It is only the start of Bitcoin getting institutionsized, you should not be afraid. But, knowing about the market very well before investing.

[ImHash]

Bitcoin is a free market, some big investors come to get their share of the profit and will continue to do so, after they are gone, others will come and do the same, whilst we the people could always keep using crypto and make sure to benefit from it, there is no destruction when there are billions of people in the world. of course, there will be major dumps, they just want to exit and cash out, that doesn't mean crypto is going to crash entirely.

[famososMuertos]

....//...:

Bitcoin cannot be destroyed, a literal answer to a very suggestive title ... which makes certain sense in the context expressed in the OP, however you fall to the point of conjecture.

It is your point of view, but it is part of the organic growth of bitcoin, this type of inclusion, actually at this point it is worth wondering who is taking "what," we are at a point where bitcoin is telling the world "I'm still here" ... that is why investors arrive or are beginning to arrive, come on! it is not that large corporations are raining to acquire bitcoin.

bitcoin is not raising eyes for the first time, it is reaffirming the hidden "love" that many feel for bitcoin ...

I think this is time the moment to strengthen bitcoin by having at least a part in its denomination "satoshi". Bitcoin is strengthened with the largest number of individuals who have access to BTC .

You have to be afraid of the possibility of running out of a satoshi at some point they will all be delivered, not having at least one if it is quite scary, consequently, the simple fact of its configuration and having inflationary control of your total currencies in the long run for at least 100 years guarantees that the bitcoin will remain alive or indestructible.

The above is not based on my words, it is based on the design architecture of Bitcoin, which is irrelevant to explain here, but which is well worth reviewing and studying.


No fear join to Bitcoin.

[Ryker1]

Well, I respect OP's point of view towards bitcoin prediction price in the future and what OP afraid of. But to tell you frankly, that is unlikely happen, it is impossible that there are big investors that can able to manipulate the market, --unless, if they are joining forces at once will perhaps have an effect but I am sure it will not bring down the bitcoin price. Nobody can destroy bitcoin, I have doubt that even the creator of bitcoin ^{[but that is a different story]}. Dont be afraid if you feel afraid, understand bitcoin and the technology behind it and you will perhaps enlighten your mind.

[tabas]

I thought that the destroy description you're mentioning is to entirely destroy and make bitcoin collapse. But that's not going to happen. Don't underestimate the power of retail investors, you see the power that they've done to WSB?
If these huge companies will shock us and will try to dump as much as they can, here goes the retail investors will buy all of those cheap coins.

[hatshepsut93]

If they buy Bitcoin to pump the price, then sell it to crash it, it would just return the price to where it has started. If Bitcoin was their enemy, they wouldn't buy it and wouldn't support it, like PayPal, Visa and now Mastercard do. They are trying to profit from it and that's it.

Is it in interest of Bitcoiners to have these companies involved? Hard to say, but it's not really that important, because Bitcoin is open for everyone.

[TravelMug]

The big companies are buying bitcoin and manipulating the market. one day they will start to sell all bitcoins and we will have a very big shock. imagine that you think that crypto is your enemy, if you want to destroy it, first you will buy as much as you can, you will make the market goes up, after you will sell all coins and you will destroy the market, take money of small investors and make them hate the crypto.

Lol, just imagine bitcoin at $150k because of this supposedly big companies and personalities buying bitcoin. And then it crashes to $75k and saying that bitcoin is a failure.

On the contrary, manipulating the market and hedging their wealth into bitcoin is two different thing.

when i saw a company buy big amount of coin, i afraid.

Sorry to hear that, it's your decision anyway, majority though are willing to take the risk and that's why the market works. Go big or go home.

[natalia stark]

The Bitcoin market has seen so many worst days of fall that its price was at its lowest 5k and even dip to 4k but the world knows that if they have to gain short term and even long term profit then they have to get the way of BTC and altcoins.

Yes, they are buying and when the price will go up and it will definitely go up in the year 2021 as predicted but that the way of market you buy things and then you sell those things when you see the profit so it will never be destroyed.

yes it can be destroyed when the internet is no more in the whole world which is impossible i guess right 

[dansus021]

destroying your bitcoin is just simple throw away your private key to fire  or simply send to  me
destroying bitcoin hashrate   you need hack the internet or at least destroy the mining farm in many country 
but destroying bitcoin price like all said in above is hard and company like tesla and other simply won't destroy it because they actually invest in it

[Darker45]

You are too fearful of something which only exists in your imagination. Quit it!

Why are you with Bitcoin in the first place? Is it because of what Bitcoin has to really offer or solely because of Bitcoin's price? If the former, then you wouldn't be afraid. Bitcoin essentially remains as it is despite the price. If the latter, then just hope that those huge companies are not like you, that they see something really worthy in Bitcoin apart from its potential growth in price.

However, it is my strong belief that Bitcoin's fundamental features somehow explain why the current and future price. If some companies end up getting into Bitcoin solely for the profit, then I guess they're not to kill Bitcoin nor the real interest of other companies.

[Janation]

Why would you be?

These companies have their own goals of buying Bitcoin but I don't think manipulating the market is one of them. With the number of investors, including whales that bought bitcoin earlier than them, that owns thousands of Bitcoins, you think they could manipulate the market?

Another thing is that, do you think people will not be taking that dumps as an advantage? There will be a lot of new investors and for sure they are waiting for the price to dump. If the price ever dumps so hard which I don't think will happen anytime soon, it will just shoots back up.

[AniviaBtc]

So do you think that What Tesla did is destroying bitcoin in the market?

Bitcoin will not be destroyed and will surely exist as long as there are people who are investing on it.

Many people said that bitcoin will crash, but that's normal in a certain investments. Assets do really crash because market is volatile and unpredictable which is what makes investment risky. If big companies can buy massive amount of bitcoin, then why not? We, small investors should just rely on them and read the market properly so that we can still also make our bitcoin investment profitable.

[yazher]

The big companies are buying bitcoin and manipulating the market. one day they will start to sell all bitcoins and we will have a very big shock. imagine that you think that crypto is your enemy, if you want to destroy it, first you will buy as much as you can, you will make the market goes up, after you will sell all coins and you will destroy the market, take money of small investors and make them hate the crypto.

when i saw a company buy big amount of coin, i afraid.

Your logic is weak because those companies don't have the same strategies when it comes to their investment. of course, some will win and some will lose. you just need to choose the right timing to sell yours. You cannot stop this kind of thing from happening and most of all there's no such thing in the investment where you won't ever lose. Of course, If they wanted to hold their BTC when the price is quite high, then they are free to do so, and when they chose to hold it for long they have completely free to do so as well.

[Lorence.xD]

Pretty scary thought but I don't think that we have to worry about for a long time because in the worst case that they are going to sell their bitcoin to profit, they might crash the prices but they will definitely be buying it back at a lower price. As long as there are a lot of individual investors on the market, bitcoin will never be destroyed.

[vennali]

The big companies are buying bitcoin and manipulating the market. one day they will start to sell all bitcoins and we will have a very big shock. imagine that you think that crypto is your enemy, if you want to destroy it, first you will buy as much as you can, you will make the market goes up, after you will sell all coins and you will destroy the market, take money of small investors and make them hate the crypto.

when i saw a company buy big amount of coin, i afraid.

I can understand that it is a genuine concern when it comes to decentralized crypto(or even centralized) that an entity might manipulate it for their personal gains. Granted it is a bit harder to manipulate something with a marketcap of $832,178,225,072. I do suspect and even Peter Schiff mentioned that Tesla bought BTC and then created hype around it and is now selling it away slowly. I havent researched about it but it could potentially be true.

[pooya87]

People who are in bitcoin to make money (more fiat) and would hate bitcoin if its price goes down are better hate bitcoin sooner than later and  then make their exit because they don't even know what bitcoin is and they don't care about it at all. Instead they care about fiat and want more of it.

Bitcoin won't be destroyed if its price dropped, even if the drop was significant. However bitcoin will be damaged the more idiot users it has who only care about their fiat profit!

[DapanasFruit]

I fully understand your fear, and I am sure you are not alone with that kind of thinking. I myself have been entertaining that kind of scenario where a group of corporations can be able to control the price of Bitcoin anytime they want to. However, I am now seeing that this can be a myopic view of looking at Bitcoin. One thing for sure is that the bigger the market cap of something then the lesser it can be manipulated though we have to understand also that manipulations of all types legal and illegal are existing anywhere...like your very own neighbor can be manipulating you with her smiles and winks (just kidding). In reaction to this, I am wondering if a regulated and licensed ETF for Bitcoin can be achieving its own type of manipulation of this said asset...this is also the fear of some.

[LogitechMouse]

The big companies are buying bitcoin and manipulating the market. one day they will start to sell all bitcoins and we will have a very big shock. imagine that you think that crypto is your enemy, if you want to destroy it, first you will buy as much as you can, you will make the market goes up, after you will sell all coins and you will destroy the market, take money of small investors and make them hate the crypto.

when i saw a company buy big amount of coin, i afraid.

TBH, when Grayscale started to buy some Bitcoins at a huge amount I know that this might happen in the future.
Institutions may or may not manipulate the market but one thing is for sure, they have the power to manipulate the market and they can sell their Bitcoins anytime they want to.

What we average Joes can do right now is to just ride the waves since there is nothing we can do to stop it. Plan ahead is the only thing that we can do. Make an exit strategy, and reaccumulate when Bitcoin will go down because for sure there will be a time that Bitcoin and crypto will undergo a massive correction. When it will happen? We don't know and right now there is no sign for it at the present.

One thing more is that I don't want to use the term "destroy" but "manipulate" would be the appropriate word for it. Big companies can buy Bitcoin anytime then want since it is a free market after all but it doesn't mean that they can destroy it.

[GeorgeJohn]

I have not seen anything wrong for those potential companies that are purchasing cryptocurrencies especially bitcoin, from what I captured concerning buying bitcoin and store by companies is that they have find out the important of cryptocurrencies, for them to buy crypto massively I think is one of the factors that's making bitcoin to speed up in price, so from my perspective I don't think that shall destroy bitcoin, no, the only thing I know that can disturbed cryptocurrency is government if all the leaders of country order people not to adopt use of crypto in her country, that is all only thing that can destroy bitcoin because people will be afraid of purchasing it because they will be no source to sell it, plus arrest by the government.