Did you know that sanctions are a thing that could easily be seen as an evil thing to do towards a countries citizens? Did you know that the US could actually be seen as the "bad guy" in this scenario? That they could lose this battle, on moral grounds? Because that is, after all, one core reason why the US has sanctioned Iran, because they are an "evil regime", somehow. But have you people, or anyone, for that matter, ever actually asked yourselves how these supposed sanctions are supposed to work? What they do is, they limit the materials that countries can buy from other countries, like building materials and food and medicine. Every time someone dies from starvation or due to a lack of medicines in Iran, those PEOPLE'S blood are literally on your hands. Because the so-called "evil" regime doesn't suffer from these sanctions, the ones in charge will make sure to eat well and get whatever medicines they feel they need, I can assure you of that. As always, the only people who truly suffer from sanctions are always the little people, the average joes on the street. If the West were "good" people who wanted to "do the right thing", they would actually lift these straight-up evil sanctions and try and have a normal relationship with Iran and just let the Iranians have their damn oil in peace...
I am from the West and I agree with you. I never asked for sanctions to be put on Iran, but just like in Iran, the average joes or the little people have in reality little to say about their country's policy. It is all enforced and made up by governments, while in our case the guilt can be laid upon the people by means of "but you voted for us, right?". How convenient.
If anyone still thinks voting matters, here is a pro-tip; it doesn't.
The chinese aren't stealing anything, nobody forces the western companies to give up their trade-secrets. They do it willingly because they are greedy. No one forces the western companies to set up shop in china. They do it because they like money and having a lot of it.
Not sure having Iran enter the scene should be considered a good thing. Another move here to suppress the rights and control the lives of the Iranian people. I can imagine the cut rate they pay the persons doing the mining. Along with implementing a law that all bitcoin must be bought through the government. If caught using Bitcoin with out proof of gov purchase could end in a bad way for these people.
Bitcoin cares not who or what country participates. It cares only about users paying the fee to get their transaction confirmed.
Iran or others entering? Makes no difference. Bitcoin doesn't give a shit.
Iran, or others leaving...you guessed it bitcoin don't care.
To me, and only in my opinion, I don't think that will happen. It is not so much Country's cant figure out how to get around (hide) the sanctions they would prefer to stay a good trading Nation with the US and the Allies. Nothing is impossible of course.
Preference for who's boot mashes your face into the curb aside, Iran is using bitcoin as a way to wrest back control of their trade from US sanctions. They're essentially using it for the exact same reason many users of this subreddit are. So we can wring our hands over that but like, I dunno what else anyone expected.
Luckily the most interesting way to manipulate the value if you own a lot of Bitcoin is..............UP.
On a more serious note yes manipulation by selling some or all is possible, once....
And the inevitable effect is you end up with less or no coins.
If it was easy/possible to simply buy, manipulate price down, buy more than you had for cheaper, someone would write a program to automatically trade that way and in no time would own all Bitcoins...
Said simply its just a dream...
I'm afraid you are very wrong on this one. Whales can and do manipulate the price up AND down, they make their money by prepositioning on highly leveraged products like futures and options, then forcing bitcoin to go the way they want. They gain far far more on the leverage than they lose on selling/buying back their bitcoin and vice versa.
Which is literally why this thing is useless for the average scrub on the street. If the whales decide to cash out and tank the whole system, they will, and then all the average joes will have lost half or more of their money. This is just a fucking toy for the rich, just like stocks...
You are assuming the whales are in touch, coordinated and have an economic reason to want to tank the system. I very much doubt all three. It would also not be in their interests, which is kinda the same game theory that makes using more compute power to break bitcoin unrealistic. But even if they did by some miracle crash the price, there would be a base price somewhere that the average joe and institutions would say "hey that's crashed enough, i'm gonna buy that" and we end up going through another cycle, so what?
Dude, ever heard of fiat currency and inflation? They can increase inflation and the average scrub on the street loses money too! You don't even have to be in the stock market or Bitcoin to lose money. It is a given anywhere! Yet, at least in the stock market and BTC you also have a chance to gain money.
Everything you see in this world is a toy for the rich. Even the consumer items you bought in your house were designed to make you part with your money.
Heck, speaking of fucking toys; even your wife's dildo was made to make you part with your money. She is pleasuring herself with something that made YOU part with your money! How cucking sick is that?!
It is all a big, giant set up. The game is rigged folks, the tables are turned against you. :(
We are talking about the actions of individual whales moving the market. The $10k-11k Futures represents a spread of investors (who made a bad call), and who knows maybe the whale sold some of those futures, you can make profit either way.
I know all these theories but why wouldn't this same mechanism work for a bit less coins, what is the limit and why.
And why Don't we see a hourly drop and rise, of hundreds or thousands of dollars, caused by a trade bot doing this day in day out to give unlimited gains for some whales?
I guess the obvious answer is they cannot be too high profile or they get their exchange accounts suspended, so must limit and time their activities. On the question of how much capital they would need (doesn't have to be bitcoin), I really wouldn't know, it depends on so many factors like support
strength. What I do know is that as bitcoins market cap goes up it's getting harder and harder for them to move the market by the kind of amounts they have in the past. It's a diminishing problem.