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RE: This ONE THING Can Kill Bitcoin. Gregory Mannarino

in #money7 years ago

True but would you rather lose purchase power when someone click the mouse to expand the currency supply against the majority wish. I can't see any ordinary person that agree with the inflation is good nonsense. Ordinary people want stable price and stable currency. There is the added benefit that there won't be two tier tax. I mean some with have a higher starting point but at least it will most likely be more fair until that system become corrupt.

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As soon as the futures go live they will have an effective tool to control the price of bitcoin. Right now bitcoin is untested in a crisis, & attracting a lot of get rich quick money, not risk off money. There is no perfect system, when too few have power they abuse it.

You are right about the hot/blind money in bitcoin. However bitcoin is not a crop or metal that you are buying future supply so future market is really a joke. The future market will remain a casino for those betting in fiat for fiat.

There are a lot of very smart & corrupt people working on those futures, so I think there is a hi chance of price manipulation. I am hopeful but have studied too much history.