> Who determines how much your crypto is worth?
As with other things - the people who want or don't want to buy it.
As with other things - the people who want or don't want to buy it.
What happens if they also also get to see your order before it is executed and have every opportunity to insert their own in front of yours just to drive up the price that you pay (aka "front running")?
That's what central banks do, and a lot of cryptocurrencies. It's very very hard to do though with Bitcoin.
Yes, so crypto is just like fiat but without regulations or safe guards or insurance.
It's very very hard to do though with Bitcoin.
It's hard to manipulate the quantity of bitcoin --- not so hard to manipulate the price of bitcoin.
That's why I'm not a fan of crypto in general, only of Bitcoin
> It's hard to manipulate the quantity of bitcoin --- not so hard to manipulate the price of bitcoin.
True, but I guess it's easy to do that with every small market. I'd imagine the bigger the market capitalization, number of participants the harder it would be to manipulate the price.
It's pretty easy when you can mint Tethers and keep the price pegged at $1 USD no matter how many you print and use them to buy/inflate the price of bitcoin.
Yes and anyone can easily make money just like Bitcoin --- just clone it.
How many Bitcoin clones and forks are being used in the crypto-market right now?
Too many to easily keep inventory in your head.
That's the situation we are in with fiat currency. That's what central banks do.
The question remains, who are you gonna trust?