Any time there is money to be made, you can be sure that someone, somewhere will try game the system. I don't see crypto as being that different from the stock market, hedge funds, etc. There are people who make money by actually providing some of value (say cleaning dishes or inventing a new drug) and those make money without providing any real value (e.g., much of Wall Street, traders, etc.).
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RE: Do whales control the Bitcoin market?