Bitcoin is an Internet currency with no centralized bank or agency underpinning it. I only recently heard about it and I've been trying to understand how it works and if it is safe, however this is a huge question well beyond my expertise.
There are a lot of websites that make a lot of claims about Bitcoin, some for, some against. In this question I'd like to focus on this claim putatively from a BitCoin exchange:
I wanted to make more money. The number on the exchange. A number. I could change it in the programming. Not too much, because their are other exchanges to balance, but a little would be okay to do. So I did it. I increased the Bitcoin value a little. Say from $1 to $1.05. No one noticed and many were happy to see it go up. I was making people happy and the forum enjoyed the fun times with many dreaming big money! haha.
Now I change the Bitcoin price by hand nearly everyday now. I increase the number and more people give me money. Sometimes I let the files do this. It is a miracle like I have a bank haha. I give them numbers and they give me money.
Is it possible for someone running a Bitcoin Exchange to change the exchange rate at will, in order to steal money from its users, with no consequences?
The original source of the claim is somewhat unreliable, as that site indicates, however the general conclusion of that article, and others on the site, along with many of the comments is that it is Plausible. Additionally I have not been able to come up with any mechanism in the Bitcoin system that would prevent this from happening.
N.B If this claim doesn't seem notable enough I could change it to address the whole issue of Trust regarding the use of Bitcoin - for which there is more than enough notability - however, I'm concerned that the question might be too broad. Thoughts?