The only thing Bitcoin is worth is what someone is willing to pay you for it since it has no, you know, underlying value. If that number is determined substantially by manipulators, well, what good is it? It may as well say "In Giancarlo Devasini [1] We Trust" on it.
The "monetary property" it possesses is defined in Tethers. You can send them back and forth all day but if you have no baseline of what it can be exchanged for, I can just move lines in my spreadsheet back and forth too. That's not a "monetary quality."
I sold at BTC$17000, thanks.
The only thing Bitcoin is worth is what someone is willing to pay you for it since it has no, you know, underlying value. If that number is determined substantially by manipulators, well, what good is it? It may as well say "In Giancarlo Devasini [1] We Trust" on it.
The "monetary property" it possesses is defined in Tethers. You can send them back and forth all day but if you have no baseline of what it can be exchanged for, I can just move lines in my spreadsheet back and forth too. That's not a "monetary quality."
[1] https://www.crunchbase.com/person/giancarlo-devasini#section...