The Chase to control the market!

[DVlog]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc. But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

[Z-tight]

I don't think any institution is trying to control the market, BTC network is decentralized; so it cannot be controlled by anyone, what you are describing is different from what control is. What you are describing is simply that more people and institutions are joining the network, and it is normal. People had and still have wrong impressions about BTC and the network, but many of them later change their ideas to become adopters, it does not mean that they want to control it, which they can't obviously.

[mk4]

They’re not trying to “control the market” per se, they’re just heavily advertising their products as to get as much market share from their users — ending up with them earning a lot of fees.

[Faisal2202]

I don't think any institution is trying to control the market, BTC network is decentralized; so it cannot be controlled by anyone, what you are describing is different from what control is. What you are describing is simply that more people and institutions are joining the network, and it is normal. People had and still have wrong impressions about BTC and the network, but many of them later change their ideas to become adopters, it does not mean that they want to control it, which they can't obviously.

I think OP here is talking about centralized tokens like ETFs. we all know those ETFs are not real BTC even the BTC ETFs once got approved they have different names in their minds for that. I think one ETF has been named BRRR which is in itself a funny name. BTC in itself is decentralized but if a company "X" will have 1000 BTC and used them for ETFs then the ones who will buy shares from that X company will not buy real decentralized BTC instead they are buying Centralized pegged type BTC from those companies. Which make the whole scenario as centralized.

[jrrsparkles]

I don't think any institution is trying to control the market, BTC network is decentralized; so it cannot be controlled by anyone, what you are describing is different from what control is.

Bitcoin cannot be controlled but the more appropriate word can be manipulated so yes every big institution is trying to stack as much as bitcoin they can even though if they are not really a crypto supporter because they knew what it is going to be if they miss the trend and let the others to take their places.


Still governments accusing of bitcoin is used for illegal activities but the real fact is fiat money has also been used for the same purpose since the existence of fiat so over the time people will realize it and the changes you are talking is actually represent that. SO the perception about cryptocurrency is changing so as a result governments, regulators, and financial institutions accepting it and trying to make more benefits.

[avikz]

I don't think any institution is trying to control the market, BTC network is decentralized; so it cannot be controlled by anyone, what you are describing is different from what control is. What you are describing is simply that more people and institutions are joining the network, and it is normal. People had and still have wrong impressions about BTC and the network, but many of them later change their ideas to become adopters, it does not mean that they want to control it, which they can't obviously.

Officially they are indeed not trying to control the market. But these institutions are sitting on a pile of reserve cash, so if they want, they can surely be in a position to control the market. That's my biggest fear. Big cash rich corporates can indeed buy a huge amount of bitcoins from the market and use that bitcoins to manipulate the market. Corporate games are dirtier than we can think of.

Couple of weeks back, I saw a news that a small country called Bhutan is setting up a Bitcoin mining firm. So countries have started taking part in the game and it's not good.

[Zlantann]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc. But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

I assume you are referring to the spot Bitcoin ETF approval application by BlackRock, Fidelity, WisdomTree, and Ark. These firms are profit-making organizations so they want to make money from investing in Bitcoin. They might also have other hidden agenda which will unfold in the future. The SEC has not approved any application and it has not shown any sign of shifting ground. The SEC believes that approving spot Bitcoin ETF can lead to Bitcoin price manipulation by these firms. This rush to be part of the Bitcoin market has its advantages but there are also dire consequences.

I don't think any institution is trying to control the market, BTC network is decentralized; so it cannot be controlled by anyone, what you are describing is different from what control is. What you are describing is simply that more people and institutions are joining the network, and it is normal. People had and still have wrong impressions about BTC and the network, but many of them later change their ideas to become adopters, it does not mean that they want to control it, which they can't obviously.

They can not control the market but they can manipulate the price of Bitcoin for a short time. Currently, these firms are making Bitcoin to be accepted by some traditional investors. But they can also spread FUD to hurt the market.

[DVlog]

I don't think any institution is trying to control the market, BTC network is decentralized; so it cannot be controlled by anyone, what you are describing is different from what control is. What you are describing is simply that more people and institutions are joining the network, and it is normal. People had and still have wrong impressions about BTC and the network, but many of them later change their ideas to become adopters, it does not mean that they want to control it, which they can't obviously.

Officially they are indeed not trying to control the market. But these institutions are sitting on a pile of reserve cash, so if they want, they can surely be in a position to control the market. That's my biggest fear. Big cash rich corporates can indeed buy a huge amount of bitcoins from the market and use that bitcoins to manipulate the market. Corporate games are dirtier than we can think of.

Couple of weeks back, I saw a news that a small country called Bhutan is setting up a Bitcoin mining firm. So countries have started taking part in the game and it's not good.

The only way Bhutan earns money is through tourism. Also, the place is cold so it is ideal for a Bitcoin mining firm. They also run four major hydroelectric facilities, some small facilities as well. They are in a very good position to operate a Bitcoin firm. For being operated and controlled by a government their bitcoin firm can be a potential source of income for the country. Perhaps it's not good for the overall bitcoin market but it makes them a potential candidate to make bitcoin as a legal tender.

[Z-tight]

I think OP here is talking about centralized tokens like ETFs.

BTC eft's are not tokens.

BTC in itself is decentralized but if a company "X" will have 1000 BTC and used them for ETFs then the ones who will buy shares from that X company will not buy real decentralized BTC instead they are buying Centralized pegged type BTC from those companies. Which make the whole scenario as centralized.

They are not buying BTC at all, what they are buying is shares of the spot BTC etf that the company is offering. In itself there is no centralized BTC, if a company offers you shares to represent BTC's that they owe you, the risk is on you and it does not mean the network is centralized.

Couple of weeks back, I saw a news that a small country called Bhutan is setting up a Bitcoin mining firm. So countries have started taking part in the game and it's not good.

I don't think it is that bad, as long as they cannot control 51% of the hashrate then the network will be fine, and price manipulations can only last for a short time.
 

[Aanuoluwatofunmi]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc.

It's such a pity that this kind of attack is also coming from the governments all because they couldn't regulate bitcoin, but now it seems they are realizing they could possibly allow bitcoin and go against other cryptocurrencies who could appear shitcoins, as for the use of bitcoin for illicit activities, this has been common right before bitcoin was invented, theft, crime, fraud and financial abuse is very common and worst with the use of fiat currency.

[lionheart78]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc. But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

The government and other anti-Bitcoin party often spread lies to demerit Bitcoin.  But they think that their effort is in vain and that Bitcoin continues to proliferate.  With that, it is possible that these anti-Bitcoin entities have a change of heart and implement a strategy called, "if you can't beat them, join them".  The reason why there is some individuals who used to hate Bitcoin and now have a change of heart.  Probably they come to the conclusion that they will be missing out if they keep on pushing Bitcoin away so they decided to join the Bitcoin bandwagon.

[Asiska02]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc.

That was a false indictment against bitcoin. Over the years, it has been realized that with bitcoin decentralized nature, and not having a central authority makes it easy to track illegal transactions in the network within a speculated time the incident happened. Once the address of the scammer is known, they can be tracked easily.

But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

Bitcoin have undoubtedly attracted a lot of institutions and no one want to be left behind. Many have now accepted to flow with the new technological revolution of digital currencies. Even though their joining is relevant to the adoption of bitcoin, they still do it for their own personal gain for the company.

[CryptSafe]

Of a truth the competition is high on who would take charge of the crypto industry. At first they started with smear campaign as you have said but they could not stop the boom. They came with restrictions, ban and termed it illegal but they still failed to understand that this era is a technological era which cuts across all divide  and the finance industry is not left out.

Finally, they came up with policies to confine crypto activities putting it under their watch and then they remembered that they could generate revenue through tax payment from the crypto owned organizations which worked out for them because the owners of those crypto organizations are well known with location and identity. So they were able to penetrate crypto industry to do their bidding's but one thing I know for sure is that  the government can not and can never be able to control the BITCOIN as it has no body claiming control over it and all other crypto assets are dependent of bitcoin in existence.

[AmoreJaz]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc. But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

The government and other anti-Bitcoin party often spread lies to demerit Bitcoin.  But they think that their effort is in vain and that Bitcoin continues to proliferate.  With that, it is possible that these anti-Bitcoin entities have a change of heart and implement a strategy called, "if you can't beat them, join them".  The reason why there is some individuals who used to hate Bitcoin and now have a change of heart.  Probably they come to the conclusion that they will be missing out if they keep on pushing Bitcoin away so they decided to join the Bitcoin bandwagon.

and i bet, most of these anti-bitcoin entities don't know what they are saying. try asking them about bitcoin or blockchain tech and they won't know what to say. and people nowadays can easily educate themselves regarding the facts about bitcoin and crypto market, hence, the government can't beat such source. because anyone can just hit the search button and a lot will come up if they are open to understanding what's really going on.

[nelson4lov]

The phrase "If you can't beat them, join them" is at work. Another fact worth considering is that most organizations can't easily pivot to using Bitcoin as a payment gateway or integrate it into their platforms simply because it was a new technology with big promises or cutting off intermediaries. So they choose to ignore it at first or probably because you need to get approval across the board before you would be able to make a change as big as adopting bitcoin plus possible legal implications in their organization region.

Better late than never in my opinion but no one person or individual can control bitcoin network at the end of the day.

[Smartvirus]

How do you control the market when you don’t have enough to fully provide the liquidity that would be well enough to flood the market with more coins to result a sentiment and cause an impact without the institution in itself having to lose a huge part of there hodlings should we even imagine it possible.

Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc. But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

Ignorance they say is not an excuse for the law and users not having to understand have got themselves to contend with over their insensitivity about the innovation. Of course they would stand corrected from time to time as it has been and thats going to come with them having to buy at a higher price with the market still validating the price to a bitcoin.

[Awaklara]

I have been in crypto for more than 5 years and i have seen a lot of incidents within the industry. There was a time when government and even a lot of people call Bitcoin a scam or a scammer currency. Many thought that only hacker scammers use Bitcoin for money laundering, drug dealing etc. But now the situation has changed and it's good to see how institution chasing each other to not be late to join the industry. The situation is so intense that now what matter most is who will control the market. In the current situation, it seems, no one wants to be the last one to jump over space.

the views of those who see Bitcoin as a scam changed when they realized that more and more Bitcoin users were around them, especially those who run goods and services businesses. when more customers ask if can accept payment with Bitcoin? it will be a blow for business people to immediately move to their market which turns out to be a lot of people using Bitcoin. they have to follow the direction of the market, but that doesn't mean that anyone has to control their market. all just do not want to be left behind by the competition.

[noorman0]

Depending on how they approach it, even for a class the government must study the behavior of the average citizen before embracing foreign entities (not their own products). This aims to prevent criminal cases that (maybe) they have not been able to overcome.

In the past, negative perceptions of bitcoin were common as much as the way the introduction of bitcoin (indirectly) by the news media was associated with criminal cases. Today, the dominance of influencers is higher with their various interests, they can educate and expose everything including their wealth thanks to crypto to make ordinary people more interested in becoming their "puppets". This has slowly changed the perception of the past to be more welcome, although still with the wrong start.

[Darker45]

If there is any real FOMO, I think this might be one. In the past, many would easily brush aside the idea of Bitcoin. But now that giant financial institutions like BlackRock, Invesco, WisdomTree, Fidelity, VanEck, and others have already shown big interest in it, time is not on our side anymore. Trillion-dollar companies are getting into the game. We simply can't allow ourselves to be left behind. I'm 100% sure that one day we will miss this level of affordability.

[rikybrosh]

bitcoin is not spread evenly yet, so it is still possible to control the market. anyone who have capital can control the bitcoin market. but bitcoin also depend on the sentiment, good or bad sentiment can influence bitcoin price. sentiment factor only give small effect, capital give biggest influence in bitcoin price.