Bitcoin Forum

It will be a central banker with all the bitcoin in the end. They will buy the biggest mining farm and collect all coins through network fees.
Even by holding bitcoin we still lose to the central bankers in the end when we make a transaction they will collect the fees.

Whether it`s 100k USD a coin or 1billion USD a coin, it`s no skin of their back, just pressing a extra few 0`s into the computer when they make fiat.

Bitcoin does not free us from $lavery. It runs off the fumes of fiat.

How we beat them is to make everyone the currency creators, distribute supply 1 hour coin an hour or 1 second coin a second to unique addresses created from a human HWID, iris, fingerprint or heartbeat. That way when the central bankers buy the supply, everyone wins. Sure we don`t beat them, but if you can`t beat them, join them.

Why do we put up with these central bankers and politicians? They should of been hung the second they created fiat.

It doesn't work like this. First of all if any central bank gets involved in mining cryptocurrencies the price would skyrocket in a very short time. By "skyrocket" I mean getting into the higher six figures or even passing $1M/unit. Even if they get ahold of the majority of crypto miners, most of the BTC has already been mined and to harvest a significant amount of total supply of bitcoins solely from the network fees will take an extremely long time. PLUS, they would have to HODL the accumulated supply if they want to control it.

You see.. Bitcoin has been designed to give power to the people. Banks cannot control the network unless they bring a lot of "collateral benefits" to it, if you know what I mean. ;)

Central banks are not a united global superpower. They compete with one another all the time, so they won't make a consolidated move on Bitcoin. Moreover, banks usually think of Bitcoin as a foe, so even if they support Blockchain, they usually want their own centralized coin instead of adopting Bitcoin. Moreover, to actually control Bitcoin mining or own a very decent amount that could allow manipulating the price requires too many resources. We can't even calculate it precisely because if they try to buy a lot, the price will keep rising and every next step will be more difficult. And banks are not going to waste resources on an attempt to take over Bitcoin because it would be devastating for them. So Bitcoin does remain independent enough, decentralized enough. However, banks do win in a sense that the vast majority uses fiat and does not plan switch to Bitcoin.

Bitcoin are almost been mined meaning even if they Buy all the Mining farm yet there are only small amount they will owned unless they will purchase directly In exchange.and yeah they Might gain In transaction fees but eventually With Lightning network and other help in future ,they won't hold the Fees on that average.
Very Futuristic , And if you are referring Central bank buying all the coins ,then why not start now when the value is cheaper? and start accumulating so in 10 years they might have it all.
But there is no action right? because Central bank still Don't Believe and Give sympathy to the Crypto.

But Your points are valid ,Looking for more James Bond Posts.

It gives power to people with fiat AKA central bankers, not power to the people.

Coins are bought with fiat, Electricity is bought with fiat, Miners are bought with fiat, Fiat wins.

If everybody owns it for free, it becomes basically worthless and pointless. Unlike fiat, here's nobody telling that 1 BTC will still have value if that would happen.

The current direction is tricky, but it's up to you and me to decide how much to buy or sell.
The current direction may allow Bitcoin get into the position you could buy anything for Bitcoin directly. At that point the price would matter only if you invested and kept the coins. Else you'll be able to work for Bitcoin and buy goods for Bitcoin, like you do for fiat now. Bitcoin is meant to set you free from the current banking system, not from working for a living.

Central banks might have different functions in the economy if they when they start acquiring Bitcoin. From accumulating BTC to then distributing it to the general population (replacing fiat) is just a small step. ;)
I think we can all feel how fragile the fiat currencies (especially the US dollar) are right now. Recently I've seen that in the past year the Feds printed 20% of the dollars in circulation. Insane statistic... If it takes that much to stimulate the economy we're in for a rough ride, maybe the paradigm shift we need to switch to a better system (*Bitcoin)

Making BTC ilegal is too late I guess so they just have to do something else. But buying mining farms seem too much, when they could just use a government backed exchanges. People will normally trust it and take their BTC, paypal already started doing so.

But just to buy the idea, its a good thing there are platforms that allows us to do it so that each of us can create our own token. There are several platforms actually and with just a click you can already have your own token. 

This was expected to take place when we have forgotten the basics of bitcoin and using it just as a mere investment liek any other stock trading. The purpose for creation of Bitcoin has long being replaced by investment opportunity and central banks will do everything to ensure they are they one who gets the profit at the end. Buying mining farms is just the beginning.

How can you say this? If everyone is given $1 million, doesn't it occur to you that $ will become useless because everyone has it and with no one to value it. This is why airdrops have always lead to the down charts of a coin. What you said above is obviously not an option, it'll lead Bitcoin to a big time hell.

They can still get control of the majority of the supply by just buying it, and while this means that the price of bitcoin will skyrocket what does it matter to those that can print as much money as they want? For a long time I have thought the way they will try to take over bitcoin will be in a way similar to what happened to gold.

First they will get all the bitcoin they can by either buying it or by allowing you to deposit your coins in a bank account, then they seize it and begin to back their currencies with bitcoin, only to finally abandon the bitcoin standard some decades in the future.

What's with all this doom talk? So according to you every banker thinks only about destroying bitcoin and buying mining farms. That's not how business works.

When you see something that can be useful and that people like you try to compete with it or add it to your own portfolio. You can spend millions of dollars trying to destroy it but nobody is going to give you back those money. You'll be trying to destroy a tree by covering it in dollar bills and burning them. Pretty dumb.

I like that idea that if you can't beat them then join them. This is why we need to get low in cryptocurrency for we know all of our funds in crypto space are just temporary and will end up converting fiat as soon as we needed the funds especially for medical needs. There is no assurance that we can really beat the central banks and the fiat system since the majority in our society are utilizing the system compared to digital currency.

If you want to buy into the "central banks" winning then there you go. There are probably people still that don't know there is a thing called a computer out there and most certainly anything relating with Bitcoin. Think about this, if you take away the central banks, the government, so on and so forth then what?

You have a point there. But that's a lot of work for a single investment product. I mean, central banks can buy all the gold, silver, and copper in the world to control that trade market but they don't do it because it makes no sense from an economic point of view. The role of central banks is to ensure economic and financial stability. They conduct monetary policy to achieve low and stable inflation. Bitcoin is no longer just a small, insignificant currency. It already has an immense effect on the global economy because many consumers are depending on it. It is now part of the system that the central banks are trying to stabilize (so, yeah, they surely have bitcoins in their arsenal just like the rest of us, but not too many to trigger financial setbacks that they have to fix in the end). If they suddenly decide to own every coin, that will definitely upset the balance that they are trying so hard to maintain.  

Yeah, it's true. We do need central banks, government. They are like the permanent fixtures in our lives. But we can opt to some alternatives like crypto. It is still on you how you will manage your portfolio. Not all people are crypto users, the fact is, only small population up until now. So saying that central banks are winning, because they are really are. Now, it is up to you how you will manage your financial aspect.

Even if central banks controlled the mining farms now, it'd take a long time for them to even accumulate Bitcoin to an amount that could possibly control the market, not to mention that they may even incur heavy losses by then. Not only that, this isn't even a guaranteed notion that they'd be able to take hold of the Bitcoin system if they did this, Bitcoin is a decentralized system itself, after all, there's a high chance that all their effort would only be wasted.

It never was an issue of what buys what though. Fiat are in the end, a medium commonly accepted by the public due to being recognized by the public government, but that doesn't mean that it's the best option. Look at how investors buy land, gold, and other safe assets, why don't they let their money stay as Fiat if it gives them power no? Fiat is just used so one can measure the financial power of others.

Fiat is converted to bitcoin.
We do these conversions every day, we take something useless and convert it to something useful. For example dirty useless oil is converted into useful gasoline that you put in your car.

There is a difference between news, rumor and bullshit pumpers use to fool people into buying some shitcoin. The XRP thing was always the last one. No bank would ever use a centralized shitcoin that is in full control of another company that they can not control themselves. The only involvement of the banks with XRP was to get the technology and make their own centralized shitcoin which they control.

A can of tuna was $2, $1 was $1.

Trump printed $10.5 trillion. 1/3rd the current debt.

A can of tuna is still $2, $1 is still $1.

How did you come to that conclusion? it's already too late for the banks to control Bitcoin. Look at the current supply right now, it has already been spread into different users and those banks won't be able to do anything about it. Bitcoin has become too big for them to control. They should have started when Bitcoin was just starting.

Sure they can buy a huge amount of Bitcoin but that doesn't give them the control over it. They are just a holder. Sure they can have the largest Bitcoin farm but that doesn't mean they control all of the fees, there will always be someone that will compete with them, most likely China.

At the end of the day banks won't stop Bitcoin, they won't be able to control it.

I don't see this as a competition or a battle.The central bankers don't really care about Bitcoin.They have to take care for the economy and the financial sector.They have to protect the banks from going bankrupt and keeping inflation rates low.Do you really think that central banks will ever going to buy cryptocurrencies?
The governments will never allow them to buy coins.
Your idea of "hour coins" is pretty old and it never got implemented successfully,because the people will find  a way to fake that "hour coin" currency.
Can you create fake Bitcoins(real BTC,not BCH or any forked pseudo-Bitcoins) out of thin air?
I don't think so.

Should anyone win between Fiat and Bitcoin? What is the reason for that? There's no need to confuse fiat and bitcoin, because they complement each other. Bitcoin value is seen in terms of fiat value. and there's really nothing to worry about.
But why is it as if bitcoin never came to terms with fiat?
between bitcoin and fiat, I keep using both. and it's not a big problem.

I agree, it is something like passing the torch of power to Bitcoin whales. Then these whales dictates the flow of the market.  The only difference is that anyone holding Bitcoin can send their fund across the world without a third-party intervention.


This can be manipulated and susceptible to fraud and corruption. Since there is a central authority that distributes the supply.

It is not that we need them, at least I have never needed a central bank in my life, what happens is that they are powerful institutions and for the most part the world cannot just reset and start all over again, you need to make do with whatever you have at hand, so it is likely that even if bitcoin is used all over the world those institutions are going to remain, but hopefully for us they will be nowhere as powerful as they are now.

The power to print all the money they want is simply too great and they have been abusing it with impunity for decades in order to try to lessen the impact of the different economic crisis we have gone through and while they have been successful on that they have destroyed the value of their currencies which means the next crisis that we have related to that will be many times worse than anything we can imagine.

Governments and their central banks don't have to try to buy up most bitcoins. It will be too expensive, and there is no need for them to do it. They will simply ignore the cryptocurrency, and if it strongly influences the global financial system, then they will, as always, use regulatory measures. This will be enough to solve any problem that may arise.

Exactly, the only time I think that they will take notice of bitcoin buzz is when it has a clear possibility of reaching the 7 digit prices but right now, I think that they will worry more as to how can they keep their seat of power with all the betrayals of politician, make their influence bigger, get their immunity to the laws that they pass and how to make more money out of the taxpayer's money.

I don't think any bank can take control of complete bitcoin ecosystem. Its decentralized and there are thousands of mining farms along with millions of individual miners. The blockchain is designed in a way that even the creator wont be able to alter it

You know what trick we have to our advantage? (We can support any coin we want to ...and there are 1000's.... also, if the developers wants to ...they can fork Bitcoin and we can all switch to a new fork)

It would have cost Central Banks Billions to buy all the available coins and they will be worthless in a matter of months..because most people will shift to the most popular coin. (Example : DogeCoin or a new Forked coin)  ;) 8)