Can't the government just 'print money' (create it via bank accounts being debited, etc./create debt, etc.) and, if so, why wouldn't they have (if they already didn't), print tons of money and buy bitcoin under the guise of another large bitcoin holder, etc. Can't any nation do that and, if so, why haven't they? ... or have they? What if the spike from 1000 to present (or even 400 to present), was the result of constant buying by a government entity/government-funded actor?
Has there been investigation into the web of transactions that led to large purchases of bitcoin/tracing of past history of purchases with this question in mind?
Central banks print money then lend it to governments then they charge us interest in something that never existed before but yes they probably could purchase bitcoin who would no ? Cheers mike
If they believed in their own cash system, they would not give out cash to bitcoin users through their own purchasing of bitcoin.
That's a valid point for sure, that they may have that line of reasoning; but to create a possibility of the U.S. dollar collapsing by not having control of something that they could easily take control of doesn't sound very strategic to me (they essentially have an unlimited supply, so why not have a majority stake in BTC AS WELL as have, of course, full control of the USD).
*majority stake/large stake (not necessarily majority)
But it is a great point you make for sure and could very well be the case! Thanks for the input!
If you thought of it.. no offense, then they have done it.
Yeah, and if that's true, then they likely have. that being said, like in chess, if they DEFINITELY will lose by doing something, they have no reason at all to do it. For example, if they DEFINITELY will devalue their currency by purchasing too much BTC in a traceable way, they may not do it. But, then, why not buy it in an untraceable way.
The (((FEDERAL RESERVE))) wouldn't dare validate its mortal enemy! We are going for the kill in the monetary world. We don't want (((their))) shekels!
All you say might well be happening.Now if the dollar crashed,what would we base the price of bitcoin on? No more "Bitcoin hit $3,000 today"What would we use as a measure of the value?
Thats's so thoughtful....
Thanks! Just trying to raise important questions more than anything!
i've followed you & i hope you will also follow me
Thanks, and sure thing! I look forward to seeing some great content from you!
OK just a nagging feeling that you are correct, especially if they were early users. Each purchase of Bitcoin with US Fed Notes has a two fold effect. First the Buyer, transfers money out of a US bank account and buys the Bitcoin. Second, the seller takes the US Fed Note and puts it where? Now that is a big question. Did it go into a US bank or an offshore account? Let's assume an offshore account. What does that do to the credit system (think fractional reserve)? If that is what is going on what will happen? 1. Credit system seizes up. 2. Business comes to a grinding halt - unemployment skyrockets.
Desperate to pay the bills and buy essentials all US citizens sell any asset they have - Bitcoin; gold; silver; houses; the stock market all of which tank in price. 3. Those who hold cash offshore buy America at fire sale prices. 4. With America down no more food exports world starves and goes to war. 5. Those who owe the Federal Reserve ie ECB, sell all assets to raise cash. 6. All other nations of the world lose their biggest customer and face a similar situation.
They're printing money and buying everything. Dow 22,000? Joke.
Maybe, we'll never know :) Those central bankers can do anything.
A big part of the crypto currency battle is to change government. Government doesn't follow the principles of crypto capitalism very well because they like to put a middle man between a person and their purchase called a tax man. He also likes to put other middle men in various other institutional positions: regulators, lawmakers, judges, cops, public employees etc. I could just go on and on. One place they don't have complete control is the actual beginning of the production cycle: mining. That's why prospectors and miners have always been cut some slack: it would destroy the economy to hinder them. You may think that crypto is not very well connected with the mining of precious metals etc and that is true but the connection is growing. Miners of consensus have also tapped into a natural resource. After all civilization did not have to begin if the barbarians had not come to an agreement.
Thanks!