How could exert undue influence? You're just talking about free market activities like buying and selling, right? And why does it sound like you got an AI to write this response?

"effectively replicating the centralized control of traditional finance" - okay you definitely got an AI to write this. And it doesn't know what it's talking about. Traditional finance is hooked into a permissioned, fiat, printable monetary system. That's where it gets its centralized control. Send this comment to your retarded LLM friend and point out how Bitcoin works exactly opposite to this and see what it says. Post its reply here, if you dare.

Because it was. I only have an 8th grade education and have issues clearly getting my point across to those much smarter than myself. How they could exit undue influence; 1. Price Manipulation * Pump and Dump: Imagine a group of whales (large Bitcoin holders) suddenly buying up a lot of Bitcoin. This could create a frenzy of buying, driving the price up artificially (the "pump"). Once the price is high enough, they sell off their holdings, causing the price to crash (the "dump"), leaving many smaller investors with losses. * Spoofing: Whales could place large buy orders to create the illusion of high demand, encouraging others to buy in. Then, they cancel those orders, causing the price to drop. * Wash Trading: Whales could trade Bitcoin among themselves to create the illusion of high trading volume, making the market seem more active and liquid than it actually is. This can attract unsuspecting investors who believe there's a lot of interest in Bitcoin. 2. Limiting Access * Hoarding: If a small group holds a large portion of the Bitcoin supply, they could effectively control the market. They could refuse to sell their Bitcoin, creating artificial scarcity and driving the price up even further. This would make it difficult for ordinary people to acquire Bitcoin. * Restricting Transactions: In the future, if Bitcoin becomes more widely used, these large holders could potentially collude to limit the number of transactions or set high fees, making it difficult for others to use Bitcoin for everyday purchases. 3. Regulatory Influence * Lobbying: Large Bitcoin holders could lobby governments to create regulations that favor them, such as tax breaks or favorable treatment for Bitcoin businesses they own. This could give them an unfair advantage over smaller players in the market. It's important to remember that these are just potential scenarios. The Bitcoin market is still relatively young and volatile, and it's difficult to predict exactly how it will evolve. However, the concentration of Bitcoin ownership is a real concern, and it's something that the community needs to be aware of.