Why are Bitcoin and Altcoins so closely connected in price movements?
Usually Altcoins follow the ups and downs of Bitcoin.
Why is that?
Submitted August 31, 2023 at 03:53PM by Derderbere2 https://ift.tt/w2lp6cV
No, Bitcoin is not controlled by a small group of investors and miners (A rebuttal to the TechSpot article)
https://preview.redd.it/vli0ofqwf6w71.jpg?width=3840&format=pjpg&auto=webp&s=2a704c47375637858c27216379ae8313dadf8be8 This could be a long read. Kindly bear with me. I write this primarily in response to the TechSpot article from yesterday ( r/technology mods told me they only allow “ mainstream articles with editorial oversight and fact-checking ” so I'm sharing this here). But I’d also like to take this opportunity to write about Bitcoin more broadly as someone who has been following it for more than a decade and I’ll try to do so without complicating the conversation for anyone unfamiliar with Bitcoin. The TechSpot article cites a non-peer-reviewed National Bureau of Economic Research (NBER) working paper from Igor Makarov and Antoinette Schoar. NBER claims to be non-partisan but it is a private NPO funded by the likes of Bill Gates foundation . The chairman of NBER, Karen Horn, is a former president of the Federal Reserve Bank of Cleveland and Head of Int...
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