over the last year i've had a really hard time believing the crypto is not fully controlled by a small amount of people who are pumping and dumping at their leisure.
prime example was the meeting the bitcoin miners select few who were having "secret meetings" as to where everything was going direction wise which is no different than what bankers do.
i've been in crypto the last 4 years and have seen specific patterns that are driven by a few websites that everyone checks since there is not a large array of places to get crypto news. when you see these massive swings from one to the next like 300% gains in 12 hours this is just not how healthy markets work that are not under the influence of some sort of manipulation.
the way the markets fluctuate makes it seems very fishy. pump and dump pump and dump pump and dump. essentially ethereum has two currencies and the reason i think theres a big push with ETC vs ETH today even is because the price can be manipulated through 1 simple article on any given crypto news site. then people who missed out on ETH can buy ETC at rock bottom prices pump it up then dump it off and so on.
At this point i think ETC and ETH should both be priced down as they are cloned currencies, its like having a dollar then a group doesnt like the choices made with the dollar so they make their own dollar which creates too much stress on the currency in that theres no agreement so they both go their own ways. which will lead to massive instability regardless of the idea of "decentralization" everything has been proven to not be that by what is happening on both ends.
both need to fall by the waist side talk it out and figure out a solution then come back with one, this fight to the death of one of them just makes it look even more unorganized. until then i don't see how there will ever be a way to bring crypto to the mainstream. right now crypto is pump and dump manipulation and no different than what the banks are doing albeit on a much larger scale but the formula is still strikingly similar in the patterns of how problems are being created and solved. regardless of what we think crypto is also centralized. if you don't think so how does a meeting between a few miners cause a mass drop in price in less than 6 hours? how does an article praising ETC over ETH create the shift we are seeing in real time in this second. ETH is almost cut in half overnight and ETC is trading beyond higher than it ever has..
