[yossarian1408]

The more of your own wealth tied up in a crypto asset, the more you have an interest in ensuring no manipulation occurs. An exact inverse to the speaker's thesis. Crypto is underrated for it's incentive solutions from a praxeological standpoint, not just the technical/cryptography one

[Traster]

That's not right though, the more you have invested in crypto the more you're incentivized to try and boost the value of crypto. That's not the same thing as saying no manipulation occurs. In fact, manipulation is good for you as long as it increases the value of crypto.

If you plan to hold crypto long term manipulation might be bad in that it might damage the long-term prospects of crypto, but that's literally just a question of what time horizon your investment is vs what time horizon the manipulation happens. If Tether turns out to be a scam it only matters if it turns out to be a scam before you sell.

[yossarian1408]

> If you plan to hold crypto long term

No, if crypto becomes the dominant medium of exchange. In this way it would be determined by factors of supply and demand same as money has always been for thousands of years.

The dollar is more susceptible to manipulation than crypto. If you cared about manipulation, you would be an advocate for literally anything rather than the petrodollar - crypto included.

[bluecalm]

It's like saying that more aluminum you own the more you have an interest in ensuring no manipulation. Same for oil. No idea what praxeology says about it but it's definitely not what happens in the real world.

[yossarian1408]

It's not like that at all. Aluminium is a commodity good - it holds value regardless of other people's valuations and expectations. Cryptocurrency is entirely dependent on other people agreeing that it is valuable, and that means trust and utility.