Posted on 11/11/2017 2:52:31 PM PST by davikkm
Bitcoin, along with many other cryptocurrencies, has recently taken the world by storm. Bitcoin’s devoted investors believe that the blockchain technology behind the currency will usher in an era where currencies are free from government manipulation. However, large governments of the past and present have not taken kindly to competitors of any sort. A competitor to the government’s greatest mechanism of power (currency issuance) is a threat the government will not ignore.
There are numerous examples of the US government going to great lengths to make sure the US dollar is the most used currency in the world. If the US dollar is the most used (I.e. Global Reserve Currency), it allows the US government to print large amounts of money and run very large deficits. The power of the Global Reserve Currency allows the US to maintain its world hegemony. The US government has attacked Iraq, Libya and Syria to protect its currency, and it doesn’t plan to stop there. To learn more about how US foreign policy is related to protecting the US dollar, you can visit this article that I wrote: The Only Reason The US Goes To War.
(Excerpt) Read more at investmentwatchblog.com ...
Guess who owns 6,000,000 bitcoin ...
You??
No. The ‘inventors’.
You mean the “Fed” is not doing that now?
The largest ‘investor’s owns 6,000,000.
What’s to keep bitcoin creation from getting out of hand — i.e. bitcoin inflation?
Ask Hitler what happens when you try to escape a privately owned central bank.
Who are the inventors? Does anyone know? I watched a documentary, they said no one knows who started it. They also said most people in bitcoin are speculators.
There’s a 22 million max, and the amount available to mine halves every four years.
It’s a speculative scheme.
Chinchillas, that’s the future market.
Manipulation may be what is happening with Bitcoin Cash vs. Bitcoin right now. I’ll just stay in Litecoin and Ethereum. I’m cashed out of Bitcoin.
It actually is inflating now - what’s is it balanced against?? Itself. Dollars are balanced against the economy, or they should be.
One cause of inflation is when the amount of dollars grows faster than the value of the economy.
Another is when the demand exceeds the supply.
Bitcoin is on it’s own, not coupled to an economy. So it’s value is solely based on demand. The vast majority of bitcoin demand is speculative. It looks like the perfect scheme to me, limit the total to 22 million, then halve the amount of new ones available every four years.
No! Emu’s!
Absolutely nothing. It is a very emotional vehicle for money. Anytime there is that much emotion, it is ripe for manipulation. It has less backing than a Federal Reserve Note (full faith and credit of the US Govt).
Re: “You mean the “Fed” is not doing that now?”
In that case, why bother to change?
Meet the new boss, same as the old boss.
I was an early believer. I’ve started exiting before the thing implodes. Too much manipulation. Being turned into a Ponzi scheme in some instances, imho. Good thing I am out of Bitcoin already after what happened the last couple of days.
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