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Author Topic: Corrupt Central Banks and Governments just gonna sit back and watch Bitcoin win?  (Read 715 times)
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August 14, 2017, 11:23:39 PM
 #1

Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?
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August 14, 2017, 11:34:15 PM
 #2

Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?

Central banks aren't all working together as some organized or unified cabal. They are tied to national or multi-national currencies and in many cases, have competing interests. The fact that Bitcoin is decentralized (vis-a-vis nations) likely aided its acceptance by governments around the world.

If a government banned Bitcoin and other cryptocurrencies, its country would just fall behind the rest of the world. Governments are competing against one another for future market share (as hubs for future cryptocurrency industry) and also want their populations to prosper with the growth of cryptocurrencies. It makes no sense for any government to ban bitcoin at this point.



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August 16, 2017, 04:20:42 AM
 #3

Central banks can not stay away from the digital currency for a long time, as they will lose their profits. Therefore, over time, they will be forced to support the crypto currency at least to some extent by providing services for the purchase and sale of crypto currency. It is unlikely that they will take any grandiose steps to discredit the digital currency, since

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August 16, 2017, 05:00:27 AM
 #4

Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?
Central bank are endorsed by a small group or by a particular person but it is the union of the all banking sector network and they can't print more money than what the growth take in thr country .
And if we can think that they are planning to dump the bitcoin then same impact will happened on the fiat that printed by thr central bank because if they will create unlimited fiat currency to buy the bitcoin at whatever price then surely the value of the fiat currency will get down and they will dump ownself , so i don't think that therr is any fascility like this but probably they may take action against the bitcoin with the discussion of the government laws directly but still possibilities to get the bitcoin dump is not easy because bitcoin is at higher level because of the trust in between the all Bitcoiners that they have a valuable thing in Wallet .


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August 16, 2017, 05:07:42 AM
 #5

Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?

Printing of unlimited money will also result in inflation. I doubt if central banks fear Bitcoin so much that they would ruin their economies just to try and impede Bitcoin's growth. Bitcoin is not that important.

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August 16, 2017, 05:09:30 AM
 #6

These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
heh, typical leftist statement Smiley Why do you think everything will be different in btc? A lot of ppl already scream that it is unfair that someone bought a lot of BTC in 2010 (despite all risks) for almost nothing and now have  a huge amount of money. Inequality is a typical thing and it exist in cryptoworld. Don't see anything bad here.

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August 16, 2017, 05:16:11 AM
 #7

You are giving much credit to what central banks are doing. Actually, most central banks right now are not yet threatened by Bitcoin because it is not yet on the mainstream. In fact, many of these central banks right now have not yet issued any statement regarding cryptocurrency. They know the progress of Bitcoin and it can still take so many years before Bitcoin can be so popular and with its speculative in nature there can be many people who will not adopt Bitcoin -- and mind you there is no law that can dictate for people to adopt Bitcoin because we are not under any authority at all as a decentralized agent.

The biggest threat to central banks is its own system of printing more and more money to be released to an economy already suffering from so much stress. It is not Bitcoin. In fact, central banks can even issue their own cryptocurrency if they want to though it is not guarantee to succeed but if there can be a law dictating people to adopt (which might happen in Russia, China or India) then we will have a very different picture emerging in the coming years.

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August 16, 2017, 05:27:49 AM
 #8

What would be better? 1. Printing money from thin air and using that money to buy Bitcoins, only to let it crash? or 2. Printing money from thin air and then using that money to pay developers to create your own private Crypto currency to compete with Bitcoin or just to bribe Alt coin developers to sell their coin to them. < Ripple & Ethereum are already selling out to banks, so they do not even have to bribe them >

Some governments are also working on their own Alt coins. <GovCoins>

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August 16, 2017, 05:52:15 AM
 #9

Central banks and governments have already tried their best to destroy bitcoins.But despite their continuous efforts,bitcoin moved unstoppable.Some bankers even sent to the extent of creating a crypto currency Rippl to compete with bitcoin.Nothing was useful to them.Now,governments have started to reconsider their policis regarding bitcoin and have decided to legalize bitcoin.Japan was the first to legalize bitcoin.Soon,south kore and india are to follow it.Then australia and philippines too could take the same stand.I think that this would be the golden era of the world,thanks to bitcoin.
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August 16, 2017, 06:03:28 AM
 #10

Central banks can not stay away from the digital currency for a long time, as they will lose their profits. Therefore, over time, they will be forced to support the crypto currency at least to some extent by providing services for the purchase and sale of crypto currency. It is unlikely that they will take any grandiose steps to discredit the digital currency, since

yeah .... central banks will accept bitcoin or the cryptocurrency in the future
they cant prevent it because many people will accept bitcoin as currency

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August 16, 2017, 09:36:21 AM
 #11

I don't think that they will just let the bitcoin to win this financial game because for sure they are creating a solid plan for their own benefits like having a great law that can tax bitcoin or bypass its decentralization, bitcoin will never be alone and free from governments and especially from the corrupts because the corrupts and centralized banks are just slowly but surely creating a counter for bitcoin.

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August 16, 2017, 11:05:16 AM
 #12

I don't think that they will just let the bitcoin to win this financial game because for sure they are creating a solid plan for their own benefits like having a great law that can tax bitcoin or bypass its decentralization, bitcoin will never be alone and free from governments and especially from the corrupts because the corrupts and centralized banks are just slowly but surely creating a counter for bitcoin.

How do they want bypass it's decentralisation.
With Blockstream having announced it satellite program it will even harder to crack Bitcoin down.
Furthermore central banks are also in competition with each other, it's not like that this is global cartel and pulling on one string.
As it was already mentioned, Japan legalized Bitcoin.Other countries like South Korea will probably follow.
Bitcoin will create an alternative financial system and opportunity for making, earning money outside of the old dying traditional system.
You can not stop this! This is one of the big shifts in mankind you're most of the time can only read in history books about. And we are a part of it.The stories you will be able to tell your kids and grandkids in the next 2, 3, 4, 5 decades will be amazing. Great time to be alive!

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August 16, 2017, 11:13:43 AM
 #13

Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?

Bitcoin has to solve lots of technological problems before it will be able to really replace current financial system and handle all transactions by itself. And I think governments and central banks will be adapting and finding ways to regulate Bitcoin, without making changes to the network itself. It will depend on population whether we'll have only one type of currency, or if crypto and fiat will coexist.

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August 16, 2017, 11:17:14 AM
 #14

Bitcoin is not a threat to banks, infact some bank are using Ripple XRP. So what will the banks do to XRPs? Ofcourse they are selling it to BTC.
For those nations who banned Bitcoin in their countries, they are just ignorant and stupid. They must ban Paypal too.

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August 16, 2017, 11:20:13 AM
 #15

Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?

Bitcoin has to solve lots of technological problems before it will be able to really replace current financial system and handle all transactions by itself. And I think governments and central banks will be adapting and finding ways to regulate Bitcoin, without making changes to the network itself. It will depend on population whether we'll have only one type of currency, or if crypto and fiat will coexist.
I don't think that the current financial system will be replaced by the bitcoin technology. When more people get into the bitcoin usage the technology requires a coexistence with the traditional banking to make an effective usage of bitcoin. This never happens in a short, and the same neve replace the traditional fiat or the paper money that we use at present in our daily life.

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August 16, 2017, 11:26:15 AM
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There is no way that Bitcoin will replace banks or take over them. Banks and fiat will still be needed. It's not like the famous Harry Potter statement "Neither will live while the other survives". They will just go on co-existing together and pretty peacefully
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August 16, 2017, 11:45:54 AM
 #17

Do you think mass will not protest if the central banks and govn want to buy all bitcoin in the market, How much cash do they need. That, will make a country collapse  because inflation due to the bank reserve to much cash for bitcoin. The bitcoin traders will not sell the holdings too. They wait for the higher price, and the bank can't afford to buy bitcoin.

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August 16, 2017, 11:50:47 AM
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i dont think Central bank will do that.... they have Laws and regulation in creating fiat money... but as i foresee they will let btc to increase and be popular then government will create regulatory commission to control cryptoworld as by now it cost billion dollar....

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August 16, 2017, 11:53:43 AM
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Do you think mass will not protest if the central banks and govn want to buy all bitcoin in the market, How much cash do they need. That, will make a country collapse  because inflation due to the bank reserve to much cash for bitcoin. The bitcoin traders will not sell the holdings too. They wait for the higher price, and the bank can't afford to buy bitcoin.
Well those are just bigger entities than most of the members here. Buying btc is not that easy let alone concurring all of it with just one individual. There are many governments around the world and each in everyone of them would just fight on who is more dominating and would be the main reserve. I guess having misinterpretations between the higher ups could just create an unsolvable crises if ever one of them wants to own it.

                                     
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August 17, 2017, 05:31:43 AM
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Biggest threat to them especially central banks is bitcoin. These elite 1% of the world population have power and control over everything and i find it hard to believe that they will let bitcoin grow and overtake them.
Central banks can create unlimited fiat money out of thin air. Can they use that unlimited fiat money to keep buying all the bitcoin to drive the price up and when it is at its highest create a huge sell order to crash bitcoin and kill it off?
Is there any suspicion now or evidence to show central banks is buying bitcoin at whatever price with their printed fiat money for the sake of crashing bitcoin?
Well, they know that one day Bitcoin will reach its limit. One day there will have to be a very big sellout that will end up crashing everything concerning Bitcoin, though it can still be rebuilt, but people might lose interest by then. Another thing is that central bank is not for the world, but for a nation (each country has its own central bank), and they’re all working for the personal interest of their nation (something that will benefit their country much better).

Some countries are likely to start mining Bitcoin, like Russia did, but that doesn’t mean they’re adopting it. It’s just a way to increase their income.


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