If Bitcoin is supposed to represent an alternative to the traditional financial system, to fiat debasement, censorship and monetary abuse, then why should we accept the same destructive behavior that already exists in traditional markets?
What is the point of building a supposedly better financial system if we are going to reproduce the worst parts of the old one?
We cannot create a
perfect system that fixes all the problems that exist in the world. We have Bitcoin that solves some of the problems and could not fix others. I take that as a win.
If you think that kind of behavior is healthy for mass adoption, then I completely disagree.
I never commented on it being healthy or not. I just pointed out that it is a reality that we need to accept.
Is it healthy for adoption? Of course not. I've said it a million times myself. Let me quote myself (look at the dates):
4.1. What prevents mass adoption of cryptocurrencies?
volatility is the main reason preventing bitcoin's mass adoption.
what high volatility prevents is the adoption as a currency which we should really be looking for.
But do you seriously believe Bitcoin can behave like this forever and still achieve genuine mass adoption?
It is not going to be forever though.
One of the reasons why market can be manipulated is the size of it. Compare the degree of manipulation today with a decade ago. It is not even comparable. Or you can compare it with shitcoins with small market.
The more adoption grows, the bigger the market is going to get and that makes manipulation that much more difficult.
Was that really the objective of financial sovereignty?
The point of it was that I can send my own money to anybody on the planet right now in shortest time possible without needing to ask any third party's permission. And nobody can prevent me from doing it.
If you defend extreme manipulation simply because manipulation exists in every market, then in my opinion you are defending exactly the kind of behavior that can prevent Bitcoin from becoming what many of us believe it could become.
Well, you complained about something we all knew existed. But you forgot the most important part: what's
your solution?