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Author Topic: Why hasn't this happened yet?  (Read 935 times)
BitLucky
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October 20, 2012, 09:38:47 PM
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The CEO of a well known company:

1) Buys a shit load of bitcoin.

2) Announces plans to accept bitcoin payments (or something similar). Bitcoin price subsequently rises (hype).

3) Sells a shit load of bitcoin.
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October 20, 2012, 09:42:45 PM
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Just good business sense. Just good old vulture capitalism. Smiley

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October 20, 2012, 09:44:29 PM
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The CEO of a well known company:

1) Buys a shit load of bitcoin.

2) Announces plans to accept bitcoin payments (or something similar). Bitcoin price subsequently rises (hype).

3) Sells a shit load of bitcoin.

4) Gets fired

5) goes to jail
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October 20, 2012, 10:20:44 PM
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It's probably exactly what will happen if people persuade Kim Dotcom to accept Bitcoin.  Be careful what you wish for people.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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October 20, 2012, 11:06:58 PM
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Better question why hasn't anybody with 1 million + bitcoins started a commodity fund on the NYSE, TSX or other exchange. That's how gold and other commodities are traded and price determined. Would remove lot's of market manipulation if traded like every other commodity though then you'd be trusting wall street T Boone Pickens hacks to not screw us all over, but at least there would be transparency and some sort of regulation to prevent a big trader on Gox doing whatever they wanted
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October 20, 2012, 11:16:23 PM
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Better question why hasn't anybody with 1 million + bitcoins started a commodity fund on the NYSE, TSX or other exchange. That's how gold and other commodities are traded and price determined. Would remove lot's of market manipulation if traded like every other commodity though then you'd be trusting wall street T Boone Pickens hacks to not screw us all over, but at least there would be transparency and some sort of regulation to prevent a big trader on Gox doing whatever they wanted

I'd seriously doubt that there is any single person that has 1 million+ bitcoins, and if there were, it'd be Satoshi.  And I certainly don't see Satoshi having anything to do with the normal financial systems.

As for why hasn't some billionare bought up gobs of bitcoin with the intent of pumping & dumping?  First off, pumping & dumping is illegal.  Second, billionares tend to prefer their own reputations to remain as publicly clean as possible.  And finally, how do you know that some billionare hasn't been buying gobs of bitcoin?

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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October 21, 2012, 12:08:43 AM
 #7

And finally, how do you know that some billionare hasn't been buying gobs of bitcoin?

Because billioinaires hate Bitcoin!

Billionaires have billions because bankers can cheat. Bitcoins end cheating. QED. Cheating billionaires hate people having bitcoins.


It took me just fifteen minutes of listening to Bill Gates on Charlie Rose to confirm that billionaires don't and won't like BItcoin.

Mr. Gates throws around a lot of "we did this" type of statements, and what he really means is "we used our power to get governments to do this".  I'm not saying the accomplishments were bad, but anything that lessen's a billionaire's influence will not be something the billionaires will support.

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October 21, 2012, 12:20:57 AM
 #8

And finally, how do you know that some billionare hasn't been buying gobs of bitcoin?

Because billioinaires hate Bitcoin!

Don't assume this applies to all of them.  I'm fairly confident that Peter Thiel would find bitcoin intriguing, since it is pretty much what he was trying to do when he founded Paypal.

EDIT:  And it's fairly well established now that Steve Jobs hated government intrusion into his business.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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