The Real Reason for Bitcoin's Rise, Take II

[waynechong1995]

Plan is very likely based on the current market trends, i can say the current Bitcoin's price was overpriced and this might be the outcome of Elite buying for support and most importantly manipulation if needed, they only would be richer if everything was going their way. It's easy to influence the cryptomarket and certainly not wise to buy just for the sake of eliminating competition, a concentrated, high buying power from diverse but similar parties is what causes the raise, supply and demand is still paper stuff and nobody would take them seriously.

[BobK71]

Uuhm… the case of suppressing the value of gold and silver, I don’t know, but I believe they’re doing it in favor of the people. If the price of gold and silver are not being suppressed and people are allowed to raise the price to any rate of their choice, they might reach rate in which they can’t be afford.Coming to case A, if they suppress cryptos to avoid competition against their own issued assets, it won’t make any sense, cause those will be centralized.

No government will allow it its citizen to purchase another government’s asset and make them rich while their own country gets poor lol. I don’t know what to say on case B, so I guess I will just have to end this here.

The entire system is rigged in favor of the top bankers and politicians.  See my post 'Dissecting the Parasitocracy'.

There is no 'in favor of the people' unless the elites benefit even more, directly or indirectly.  Democracy fails to work in this case, since most people's knowledge of money and finance fall far short of holding the elites accountable.

'No government will allow it its citizen to purchase another government’s asset...'

The freer countries outside the US allow US dollar ownership, but usually offer higher interest rates to attract people to their own, usually long-term less stable, currencies.  It is a complex situation, but there's a logic to it.

[Alalex]

The real reason for the rise of btc .. here it is, what is the right reason for the rise of btc, proven because more bitcoin fans are seen to produce the future and change the environmental economic factors. So in development they take the steps they have to learn, the fun in the world brings results for bitcointalk as well so the system works mutually. That's btc the price keeps increasing. and instead reached the highest digital currency rankings this year.

[sindikat]

As long as you have money, you can manage and direct everything. Thus, always big players and rich people will win. They will always have their plans and wishes.

What do you want. this is the whole world. Bitcoin can not change the world order. It is just a tool in our hands. From we will you spend them will depend on the new world order. Sounds pathetic but it's really our chance. When the whales perform dump we can buy their coins and they will lose their power.

[webtricks]

Let us take a different angle this time.

Western governments and central banks would like us to believe the rise of cryptos is due to supply and demand, and that they will not and should not interfere.

But would that make sense from the elites' point of view?  It might make sense to suppress cryptos and eliminate competition against the assets they issue, which are the basis of their power and wealth.  Call this case A.  It might also make sense to use cryptos to support their assets, by buying a lot early so they can (effectively) peg their money against cryptos in future.  Call this case B.  It would *not* make sense to let market forces decide the fate of cryptos.

For centuries, the Western elites have artificially suppressed the value of gold and silver.  (The 'gold standard' was just one of such schemes.)  Markets for money and key financial assets have never been free in modern humanity (with the possible exception of the Italian Renaissance at the start of this period.)  There's no reason to believe that, today, all of a sudden, they are.

Judging by the price movements and official actions recently, case B is looking more likely than case A.

To be a good detective, you have to think like a criminal.  To be a good macro investor, you have to think like the elites.

Case X:
When we say Demand Rise in Economics, it means greater urge for commodity from public due to reasons like increase utility, increased income, etc etc. But demand of Cryptos only based upon speculations (if not completely, then 99% for sure). Person buying Cryptos today has only one intention, to sell them for higher tomorrow. Hence Crypto market is nothing but a replica of Ponzi ladder. This explains simply why Bitcoin and other cryptos inflating every other day.
We do need add some utility in crypto market. This could ensure to some extent that crypto market won't fall down dramatically within short period during dim-demand days.

[BobK71]

Case X:
When we say Demand Rise in Economics, it means greater urge for commodity from public due to reasons like increase utility, increased income, etc etc. But demand of Cryptos only based upon speculations (if not completely, then 99% for sure). Person buying Cryptos today has only one intention, to sell them for higher tomorrow. Hence Crypto market is nothing but a replica of Ponzi ladder. This explains simply why Bitcoin and other cryptos inflating every other day.
We do need add some utility in crypto market. This could ensure to some extent that crypto market won't fall down dramatically within short period during dim-demand days.

Bitcoin has monetary properties, and money is always in demand, by design of the market economy.

The question is, which money will be accepted and which won't.  Gold and silver are perfectly good money, but their prices are not going up, because they compete with the elites' issued money and the elites are suppressing them.  (There is plenty of serious evidence of this, BTW.)

'Fiat money' might be ideal from the elites' point of view, but after 45 years, it's clearly shown itself as destabilizing their world system and trapping them in a deflationary cycle.

Thus the elites have strong incentives to promote Bitcoin as money, and use it to reset and heal their system.  But this alone is not enough to conclude case B is happening.  You also have to watch the signs.  And the signs are increasingly pointing that way.  (I hope to have time to list them some time.)

[applenap]

Initially, people's curiosity proved a big factor for bitcoin's rise and the following in the industry to pursue trade, investments, selling, buying with BTC enhanced its reputation further.