Bitcoin whales can take over the stock market
Since the beginning of the working week, the whole cryptocurrency market and, in particular, bitcoin began to rise. According to CoinMarketCap, over the last 24 hours the bitcoin has increased more than 4%, again breaking the threshold of $7K, broke about $7,400. The most impressive growth among cryptocurrency in the TOP 10 showed the coin Stellar (XLM) adding 11%.
The growth of bitcoin can be short-lived. It became known that from the purse, Nobuaki Kobayashi (the asset Manager Mt. Gox) tonight brought 10,000 BTC. Despite the fact that the entire sector is not so impressive volume, the market is sensitive about the solution associated with the purse.
At the end of March it became known that a major bitcoin wallets do the same small amount. In the community think it’s some kind of internal addresses to a bitcoin whale, knowing that each transaction can be attached to the message with instructions of further joint actions. If suspicions are correct, the market is bad news, because indicates a possible manipulation.
The computational power of networks has become a new financial instrument. And now there are fears that the bitcoin whales want to join to become a semblance of Central banks in the world digital economy. This is contrary to the main problem of cryptocurrency is decentralization. While the technical power in the hands of developers, they will be able to defend this idea, the question is what is whether they will be able to hold her.
The desire to centralize computing power finds resistance from the developers. In Monero has announced that they will change the algorithm every six months to the creators of a powerful ASIC devices could not bring to market chips that will increase the network complexity to the levels at which graphics card would be pointless.
Ethereum community also voted for hardwork network, if the largest supplier of graphics cards Bitmain will massively put on the market their devices for mining.