Smurf Eater
Donator Supreme!
Well people try to do that and manipulate the price, but it's just like buying a stock. You have people putting offers for a buy price, and others for a sell price, and when they match a transaction happens on the exchange. Now you could do this to manipulate the price, but there are fees for every transaction, so it's going to cost you. But say you have your own exchange, what's to stop you from bumping up the price? Well, other exchanges. Which is why I keep pointing out, we actually need more exchanges in every country. The more exchanges there are, the more decentralized it is and the less it can be manipulated. There was a time where Mt. Gox had a much higher exchange rate than other exchanges, but that was because Gox was the only exchange, and the first exchange to tend to the United States and the entire world, while others were only one specific currency and/or country. Now that exchanges opened all over Europe, China, Russia, a few in the U.S., everywhere pretty much, things have gotten a lot better. But we need more, and there is a lot of money in this.
ltc market cap is over a billion dollars
