🎙️ Can They Manipulate Bitcoin?
Jeff Booth (npub1s05…eyhe)
"Let's say bitcoin fell by 95%.
You're gonna sell or buy? Buy. Of course.
So now let's say the existing system, imagine, just let's play game theory, imagine the system that the BlackRock and everything consolidate enough coins, and then they start to try to make self custody illegal, and these things are coordinated, and then they start shorting bitcoin to drive price down. There are too many people that know, and they will just take all the bitcoin into self custody.
And so it keeps it decentralized and secure. And what would happen in that case is as they tried to manipulate Bitcoin, I'm not saying they will, but if they tried to do that and manipulate price down, then you would have a major financial party get liquidated, completely liquidated. It would look like FTX, but JP Morgan or BlackRock. And that would take down the entire system if that happened.
So will these games happen? Of course they're gonna happen. People are going to try to cheat because human beings have always tried to cheat.
So that's totally logical that they will.
But human beings have tried to cheat on a system that allowed cheating. Try to cheat a system that won't allow cheating and eventually you're gonna get liquidated and bring it on.
It doesn't touch anybody that self custodies. It doesn't touch you at all. Like were you hurt by FTX?
Nothing."
efenigson / Efrat Fenigson
npub1dg…hsguz
2024-06-01 21:37:46
Author Public Key
npub1dg6es53r3hys9tk3n7aldgz4lx4ly8qu4zg468zwyl6smuhjjrvsnhsguzPublished at
2024-06-01 21:37:46Event JSON
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"content": "🎙️ Can They Manipulate Bitcoin? \nnostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe \n\nhttps://video.nostr.build/2181bef4acf101c29614f7557f6bfd6eea69ba781bec79a3ba54f34bc15a58c5.mp4\n\n\"Let's say bitcoin fell by 95%.\nYou're gonna sell or buy? Buy. Of course. \nSo now let's say the existing system, imagine, just let's play game theory, imagine the system that the BlackRock and everything consolidate enough coins, and then they start to try to make self custody illegal, and these things are coordinated, and then they start shorting bitcoin to drive price down. There are too many people that know, and they will just take all the bitcoin into self custody. \nAnd so it keeps it decentralized and secure. And what would happen in that case is as they tried to manipulate Bitcoin, I'm not saying they will, but if they tried to do that and manipulate price down, then you would have a major financial party get liquidated, completely liquidated. It would look like FTX, but JP Morgan or BlackRock. And that would take down the entire system if that happened.\n\nSo will these games happen? Of course they're gonna happen. People are going to try to cheat because human beings have always tried to cheat. \nSo that's totally logical that they will. \nBut human beings have tried to cheat on a system that allowed cheating. Try to cheat a system that won't allow cheating and eventually you're gonna get liquidated and bring it on. \nIt doesn't touch anybody that self custodies. It doesn't touch you at all. Like were you hurt by FTX?\nNothing.\"",
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