Big Government Is Bitcoin’s Greatest Obstacle

IWB ^ | Daniel Carter

[TexasGator]

Guess who owns 6,000,000 bitcoin ...

[calljack]

You??

[TexasGator]

No. The ‘inventors’.

[zeestephen]

Once sovereign currencies are obsolete, what prevents the largest Bitcoin investors from manipulating Bitcoin to their own advantage?

[Fungi]

You mean the “Fed” is not doing that now?

[TexasGator]

The largest ‘investor’s owns 6,000,000.

[cymbeline]

What’s to keep bitcoin creation from getting out of hand — i.e. bitcoin inflation?

[BrokenMachine]

Ask Hitler what happens when you try to escape a privately owned central bank.

[dynoman]

With 22 million max, and the coins available to mine halving every four years, I think bitcoin is the biggest speculative pyramid scheme ever.

[dynoman]

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.

[dynoman]

There’s a 22 million max, and the amount available to mine halves every four years.

It’s a speculative scheme.

[hadaclueonce]

Chinchillas, that’s the future market.

[refreshed]

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.

[dynoman]

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.

[hadaclueonce]

No! Emu’s!

[Berlin_Freeper]

[refreshed]

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).

[zeestephen]

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.

[refreshed]

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.