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by fleddr
1477 days ago
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You need to be more accurate in your language. Bitcoin's supply cannot be manipulated, unlike fiat. The currency pair BTC/USD is very much manipulated, as is pretty much any asset paired to USD. These are two different concepts. |
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And it's worse than just that the currency pair BTC/USD is manipulable. USD prices have a loose mapping to actual value, the relationship between BTC/USD isn't just arbitrary numbers. It's not just that the exchange rate between BTC and USD is changing, independent of the USD the actual market value represented by a Bitcoin is changing.
In other words, you do not need to manipulate the supply of a currency in order to manipulate the amount of purchasing power or value that each "unit" of that currency represents.
Bitcoin proponents often try to bring up supply manipulation like it's some kind of unique category, but it's really not. Currency manipulation does not require control of the supply.