You still think Bitcoin is uncontrollable?

[o48o]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Bitcoin and money exist for very different reasons. Ability to print money is only for managing it in time of crisis, it's not sustainable to keep doing it.

If we want to compare them, as how beneficial they are to economy, then i would say fiat money is, because it has stable enough value to contribute to economy. It doesn't make sense to use an asset that's highly fluctuating in price and one that has high expectations of price growth, when it comes to daily economy. And we need an asset that makes sense to use for daily commerce.

Why would you spend in payment something if you think that it might be worth double in next year? Or receive that payment something you believe can crash -50% in a week.

That's why from purely economical viewpoint, fiat money is "better". It's not better as investment though, because it's not supposed to be investment.

[Richbased]

I think you have a shallow understanding about how bitcoins work which is different from the way fiats work as well. Yes, the government can print money excessively but yet they still have limitations to the quantity they can print within a specific period of time in order to avoid over circulation of the currency which can lead to inflation.

I know that you can buy as many bitcoins that you want to buy with your fiat currency but that doesn't mean that you can buy excessively and the amount of bitcoin you are buying is just within the amount supplied and since there are traders in the market, as you are buying bitcoin that is how someone else is willing to sell his own bitcoin. However, bitcoin is not in excess, it has a fixed limited supply of 21 million bitcoins so every buy you make falls within the amount in circulation.

This is the reason why bitcoin has a halving event that decreases the block rewards by 50% and also controls the quantity of bitcoins supplied every 4 years so that it doesn't cause inflation as a result of excessive supply. If the supply was to be higher than the demand then the value of bitcoin would have decreased but since the demand is higher that is why the price is also high.

[suzanne5223]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

If I understand you correctly, you're saying this because President Trump threatens to impose an additional 100% tariff on China, which caused the recent market liquidation.
Which is something different entirely from controlling Bitcoin, because that's manipulation of market price, not controlling BTC, and the last time I checked, BTC is not the only market affected by the President's tariff threat.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

That's not a problem if you look at the bright side, cause it opens the doors to buy more at a low price before the Uptober end.

[GigaBit]

Since Bitcoin is a highly volatile cryptocurrency, many people do not trust it, which is why they invest only a small part of their investment in Bitcoin. Moreover, the total supply of Bitcoin will be 21 million. It is not possible for a government to buy all the Bitcoins. Because if those who are already holding Bitcoin do not sell their Bitcoins, then even if that government tries, they will not be able to buy all the Bitcoins on their behalf. It is true that if someone can hold a large part of Bitcoin, then he can take some control, such as if he wants to sell more and reduce the price, but at present, the price of Bitcoin has risen so much that no government will be able to buy a large amount of Bitcoin even if it wants. That is why it is not possible to control it.

[Royal Cap]

Since Bitcoin is a highly volatile cryptocurrency, many people do not trust it, which is why they invest only a small part of their investment in Bitcoin. Moreover, the total supply of Bitcoin will be 21 million. It is not possible for a government to buy all the Bitcoins. Because if those who are already holding Bitcoin do not sell their Bitcoins, then even if that government tries, they will not be able to buy all the Bitcoins on their behalf. It is true that if someone can hold a large part of Bitcoin, then he can take some control, such as if he wants to sell more and reduce the price, but at present, the price of Bitcoin has risen so much that no government will be able to buy a large amount of Bitcoin even if it wants. That is why it is not possible to control it.

In fact Bitcoin is an asset that no one person or government can fully buy or control, because its supply is limited and many Bitcoins are in the hands of people who want to hold it for the long term. However volatility is a big issue it scares many investors. This is the bad situation that the market was in for some time a few days ago. Some see this volatility as an opportunity because price fluctuations create opportunities for profit. Especially those who wait for the dip.

[Pablo-wood]

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

It seems you tend to forget that printing more money without a corresponding increase in goods and services only leads to inflation, this said inflation devalues the currency. As the currency loses value, it actually becomes harder to buy Bitcoin, not easier. So, even if you keep printing till the end of life, you’d just be chasing an asset that keeps getting more expensive after converting from the currency being devaluated.

[Y3shot]

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

This is just greed, even if fiat is what it is you dont have to make it very poor in value. Normally fiat dont have the value Bitcoin has and can't be compared to bitcoin but you dont have to kill it more by printing more money because the more you print more money,  the economy becomes very bad and also causes inflation. If you have power to fixed fiat do it and it doesn't stop from buying as much Bitcoin thst you want. Fiat will still exist even if we still have bitcoin.  Printing more money will cause inflation and poor economy which people may even find it difficult to invest in Bitcoin.

[Felicity_Tide]

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

I guess this discussion and your idea have to do with your own view of Bitcoin, which is totally centered around it being its own special type of currency that is globally used and heavily involved in millions of transactions in the crypto market in general. I guess you're are also forgetting that Bitcoin also exits as a network, and it is as important as the currency. We all can certainly agree that the Network, which is the Bitcoin itself, is not controllable by a central authority.

And as far as its existence as digital currency is concerned, it's still not controllable, but it's price can be influenced by a lot of things. Saying that it can be controlled means that a single entity or news can literally decide it's movement at anytime, but you will agree that it is not always so. We've seen cases where price doesn't react much to certain news/events. So, I can certainly agree that the price can be influenced, but control isn't just the right word.

[MusaPk]

In fact Bitcoin is an asset that no one person or government can fully buy or control, because its supply is limited and many Bitcoins are in the hands of people who want to hold it for the long term. However volatility is a big issue it scares many investors. This is the bad situation that the market was in for some time a few days ago. Some see this volatility as an opportunity because price fluctuations create opportunities for profit. Especially those who wait for the dip.

The price volatility of bitcoin is like a double edge sword because it can go in both directions i.e. up and down. It's because of volatility, bitcoin price has gone up from zero USD to 125k in just 15 years. If someone don't want volatility in his investment then he can better go and invest his money in banks saving account that gives profit proportional to inflation.

Bitcoin has decentralised nature that prevents any single entity from taking control of it. That's also one prime reason why governments are against Bitcoin because of there inability to control it.  

[Mahiyammahi]

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Lol what kind of question was that. Do you know ther term Inflation? If money is circulating like that crazy , people ain't gonna buy it. Paper money would lose its value. Do you know why those paper shit has value? Even though government can print as much money as he can. It still has the value because of we people do belive in paper money. Paper money isn't backed by anything real valued. This economy is totally scam economy.

[justinlamode]

Government can only buy what's available for sale. If there's no seller they can't buy.

What percentage of Bitcoin do you think is available for sell? Is there anywhere such data is available? But do you think that if government buys whatever is available in the market that they will not control Bitcoin? I know the post is funny in a way, but the OP is simply thinking outside the box knowing that the US have the monopoly of printing the dollar as much as they want, nobody is checkmating them.

[ColdLava40]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

It doesn't matter how much the government prints, assets like Bitcoin and gold are still going to be more valuable than their fiat. I understand your concern about government buying a large amount of Bitcoin with all their new!y printed money, but they can't control it in any way.

Bitcoin will still remain Bitcoin and decentralized.They might be able to manipulate the price like that always do, but They can't control the coins on your wallet which your stored with your own seed phrase.

[coolcoinz]

Government can only buy what's available for sale. If there's no seller they can't buy.

What percentage of Bitcoin do you think is available for sell? Is there anywhere such data is available? But do you think that if government buys whatever is available in the market that they will not control Bitcoin? I know the post is funny in a way, but the OP is simply thinking outside the box knowing that the US have the monopoly of printing the dollar as much as they want, nobody is checkmating them.

So, you can estimate how much is currently available by adding the total bitcoin on exchanges. There are charts showing this. According to cryptoquant.com the reserve is around 2.4m BTC and has been steadily falling for years. It used to be at 2.8m earlier this year.

Of course this doesn't tell us how much there is for sale because if a large buyer comes with an offer 20% above the market price, the market is going to let him grab some BTC and then adjust to the premium, but what if he also increases his offer? Eventually people are going to start coming with their reserves and selling to him at $200k per btc then 220k then 250k and so on, but there's going to be a limit of what he can spend. If the premium goes to 1m per coin, is the government going to continue its print? I very much doubt that.

[Cgrexp]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.
Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.
All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.
Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.
Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

If a government prints unlimited money to buy Bitcoin, the extra money printed will cause inflation, which will increase the price of goods and services, and the economy of that country may collapse. Also, a country's government cannot print money as it pleases. If they print extra money to buy Bitcoin, the value of their own money will decrease and Bitcoin will become even more expensive. Bitcoin has a limited supply of twenty-one million and no one can increase or decrease it. And no one can control its rules, supply, or block chain.

[laspol65]

You can never control Bitcoin by printing paper money, because if you buy Bitcoin with paper money, you will have to create a lot of paper notes and buy Bitcoin with them. The more paper notes you create, the more the value of money will decrease and even if you want to, you will not be able to maintain the value of your fiat currency. Then you will face more danger, because the demand for Bitcoin is increasing day by day because large holders are holding Bitcoin.

So you will never be able to control other countries including Bitcoin by competing with other countries or other countries' money and creating paper notes. Because governments of different countries, treasury companies and whale holders are involved in Bitcoin.
So your money machine keeps churning out paper notes, you won't be able to keep up with or control Bitcoin.

[Bitcoin_people]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Basically, we know that the more money the government prints, the more the value of the currency will decrease, and inflation will occur. Even if the government prints excess money, it will become worthless for its country, if the price of the currency decreases, it has no value. Moreover, we know that Bitcoin is a limited supply where no one can increase it at will, so its price is unlikely to decrease. The more money the government prints, the more money they buy Bitcoin, the price of Bitcoin will increase, it will not decrease because there is a limited supply of Bitcoin. I think your thought is logical, but it is basically not possible in the real world, rather, the government of any country would not want to destroy their economy, in which case Bitcoin will continue to operate as it has in the past, as it is currently operating, and as it will continue to operate in the future.

[AprilioMP]

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

It's not the same as sitting in a chair with work equipment on your desk, like a computer and printer, and a fast internet connection that allows you to operate without interruption.
You can do whatever you want there, in a room that allows your imagination to run wild, but as a government, there are regulations regarding printing money; you can't just print it.
The impact of exceeding the specified limits on printed money could result in a decrease in value or inflation.

A logical thing to do after your vacation is to check your balance and buy as much Bitcoin as you can afford.