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flaab (OP)
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April 03, 2013, 04:54:10 PM |
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Hi folks! In the last 48 hours, the price of the virtual currency has surged by 50% from $94 to $141 as the rate of expansion goes more than parabolic. This leaves us with the question, which line item on the Fed's Balance Sheet is 'Virtual Currency Transactions'... what better way to destroy an up and coming currency competitor than to blow a bubble in it and explode it? That is a 14x rise since the start of the year... http://www.zerohedge.com/news/2013-04-03/bitcoins-go-parabolic |
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Crazy
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April 03, 2013, 04:55:52 PM |
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My sentiments exactly. But everyone seems to suggest that I'm wrong assuming one individual/entity was behind the move from $120 to $147. Except that it happened so systematically and swiftly, it would have to be a huge coincidence that a cohort of speculators were acting in such synchronicity.
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Elon Krusky
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mccorvic
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April 03, 2013, 04:57:19 PM |
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No.
Well, that was easy.
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theta
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April 03, 2013, 05:01:54 PM |
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I love conspiracy theories as the the next guy, but I prefer ones that make sense. In this case, that line would be on the asset side of the Fed's balance sheet, US$ being on the liability side. Why would anyone want to kill their assets (*) is beyond me, but whatever, if you need to have the Fed behind everything, you have to be more and more creative in constructing myths.
(*) bitcoins being their assets as this particular theory implies, which of course I don't believe.
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Crazy
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April 03, 2013, 05:03:39 PM |
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Why would they kill their assets? Because maybe they see it as a legitimate threat to their monopoly and they don't mind throwing a few million down the drain because, well, they have unlimited access to more.
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Elon Krusky
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RodeoX
Legendary
 Offline
Activity: 3066
Merit: 1147
The revolution will be monetized!
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April 03, 2013, 05:05:36 PM |
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No. This is not what the feds do. Imagine the firing if it came out that tax dollars were used this way.
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Crazy
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April 03, 2013, 05:06:39 PM |
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No. This is not what the feds do. Imagine the firing if it came out that tax dollars were used this way.
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Elon Krusky
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checkers6676
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April 03, 2013, 05:07:49 PM |
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it takes Congress months to approve a budget. there's no way they are responsive enough to be intervening right now, even if they do try to do so at some point in the future.
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Crazy
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April 03, 2013, 05:08:53 PM |
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Pretty sure Congress doesn't have oversight over the Fed, as much as they'd love to believe they do. Didn't take budget approval to send a few trillion to other international banks, now did it?
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Elon Krusky
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Nemesis
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April 03, 2013, 05:14:43 PM |
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My theory?
Russian mafia has found a tax haven.... Fuck all those islands and small countries, they move to bitcoin nation!
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Crazy
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April 03, 2013, 05:15:28 PM |
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My theory?
Russian mafia has found a tax haven.... Fuck all those islands and small countries, they use bitcoins !
After they almost got their accounts "buzzed" @ 80% that's not too bad of a theory  |
Elon Krusky
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Nemesis
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April 03, 2013, 05:18:47 PM |
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My theory?
Russian mafia has found a tax haven.... Fuck all those islands and small countries, they use bitcoins !
After they almost got their accounts "buzzed" @ 80% that's not too bad of a theory If you watched closely, they never got shafted due to the bail out. Cyprus banks just simply.... delayed after the withdraws. Only ppl got shafted are honest working ppl in Cyprus. |
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zarl
Member
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Activity: 70
Merit: 10
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April 03, 2013, 05:22:19 PM |
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I dont think the Gov just leave btc alone, waiting will make it harder to manipulate later.. They need tons of coins to do that, and i believe they are allready starting to prepare a strategy. I just hope many fellow btc friends will be loaded, by an evil atempt  |
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Cablez
Legendary
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Activity: 1400
Merit: 1000
I owe my soul to the Bitcoin code...
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April 03, 2013, 05:23:59 PM |
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In all honesty, the current run up is now the capitalization of fear. And we all know from these previous years that there is no upper bound to fear. All bitcoin has to do is allay enough fear and the price may not see a rational upper bound.
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Tired of substandard power distribution in your ASIC setup??? Chris' Custom Cablez will get you sorted out right! No job too hard so PM me for a quote
Check my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0
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Piper67
Legendary
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Activity: 1106
Merit: 1001
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April 03, 2013, 05:24:10 PM |
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It would be daft of the Fed to go all out, buy an asset that is appreciating faster than anything else in the history of finance, and then quickly let go of it, instead of keeping it and using it.
Then again, they aren't the sharpest knives in the drawer.
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BitcoinTate
Full Member
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Activity: 224
Merit: 100
DigiByte Founder
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April 03, 2013, 05:24:42 PM |
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If anything the CIA will make sure Bitcoin stays around. It is a dream currency for them. They can do whatever the hell they want with no money trail.
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- aka The "DigiMan"
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yvv
Legendary
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Activity: 1344
Merit: 1000
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April 03, 2013, 05:25:00 PM |
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Yes, if I was US mafia, sorry, government I would mine and buy bitcoins like crazy right now, fuck the congress approval. And not to blow the bubble in future, but to make profit before Russian government, oops sorry again, mafia have all bitcoins.
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RodeoX
Legendary
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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April 03, 2013, 05:57:44 PM |
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No. This is not what the feds do. Imagine the firing if it came out that tax dollars were used this way.
I'm serious. A secret plan to buy and crash bitcoin would not only be a failure, it would never get off the ground. It is paranoid delusion to think of this stuff. The fed may ask for bitcoin to be regulated, but not in secret. |
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SomeWhere
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Merit: 10
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April 03, 2013, 06:06:27 PM |
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Yes, if I was US mafia, sorry, government I would mine and buy bitcoins like crazy right now, fuck the congress approval. And not to blow the bubble in future, but to make profit before Russian government, oops sorry again, mafia have all bitcoins.
<3 I know I'm childish, but this just made my day. |
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