malevolent whales intention to destroy bitcoin as store of value

[btcbeliever]

This most recent market correction is the result, in my opinion, of central bankers buying lots of bitcoin for the sole purpose of dumping it hard, to  increase volatility/risk of holding bitcoin longterm, and therefore retard and discourage it's adoption as a replacement for fiat currency.

If this is true, then investors of bitcoin should be motivated not only by profit but for the future of their children to hold bitcoin in solidarity regardless of volatility, to defeat as quickly as possible these criminal international bankers who destroy the value of our money and run up astronomical debt to finance wars of destruction to kill off the human race, feed off human misery and suffering like satanic demons, and enrich the military/industrial complex.

Holding bitcoin therefore is more than just a way to become independantly wealthy, it is a way to bring a better future to our future generations.  Bitcoin is the ultimate fiat currency killer!

Do others agree?

[mk4]

If the correction is because of central bankers buying lots of bitcoin, then why did the price crash? Wouldn't it rise because bankers bought lots of bitcoin like you said?

The price semi-crash/dip is because of China possibly banning exchanges(unconfirmed), since based on coinmarketcap, China has a huge percentage of bitcoin's trading volume (look at screenshot below). Also, don't forget that bitcoin rose in price too high and too fast in the past months. So a correction is really to be expected.

[btcbeliever]

so of the 1.6b $US in last 24 hours, what percent is from china shown in that screenshot?  It seems to me the actions taken and publicity from China was intended to destroy bitcoin as a store of value.  We really had not had such a fast rise in price, compared to what happened in the extended panic buying in late 2013.

Are chinese investors really more naive than those in the rest of the world?  What is the aim of the chinese communist party anyway?  I am sure there are some in power that want bitcoin destroyed so their fiat currency remains unchallanged, and others that see it as an economic boom for the country.   Why is it so hard for chinese to hold and not panic-sell?  Or are other parties doing the selling in China now in an attempt to destroy bitcoin?

[Qartersa]

What is the point of throwing millions of dollars just to bring something down? I don't think it is a good business move in any book. Think about it, if banks buy bitcoins at high prices then dump it so it will go down, for sure they won't be able to sell the whole lot a lot higher than what they paid for it. Every time they do so, will cost a lot of money.

[alyssa85]

Central bankers in the western world have to publish their accounts, so we can see exactly what they are buying. And they haven't been buying bitcoin, they've been buying bonds (ECB and BoE), while the Fed hasn't been buying anything at all - they stopped QE in 2014.

The rise in bitcoin since August is more down to hedge funds moving into the space.

[btcbeliever]

Central bankers in the western world have to publish their accounts, so we can see exactly what they are buying. And they haven't been buying bitcoin, they've been buying bonds (ECB and BoE), while the Fed hasn't been buying anything at all - they stopped QE in 2014.

The rise in bitcoin since August is more down to hedge funds moving into the space.

these central banks are all privately owned by people who avoid publicity, and who have amassed considerable wealth by printing money and loaning it out to governments (what a scam).  They could be doing anything with their amassed wealth without anyone knowing.

[Cerbera]

Central bankers in the western world have to publish their accounts, so we can see exactly what they are buying. And they haven't been buying bitcoin, they've been buying bonds (ECB and BoE), while the Fed hasn't been buying anything at all - they stopped QE in 2014.

The rise in bitcoin since August is more down to hedge funds moving into the space.

these central banks are all privately owned by people who avoid publicity, and who have amassed considerable wealth by printing money and loaning it out to governments (what a scam).  They could be doing anything with their amassed wealth without anyone knowing.

How about this for a great scenario. Central bankers quietly buy up BTC (for themselves). Then announce that that BTC is one of the best investments in this economic climate. Next we see all sorts of funds (other peoples money) buying up BTC like there is no tomorrow and driving the price to unimaginable heights. Its not impossible?

[fabiorem]

I agree.

[BillyBobZorton]

If the correction is because of central bankers buying lots of bitcoin, then why did the price crash? Wouldn't it rise because bankers bought lots of bitcoin like you said?

The price semi-crash/dip is because of China possibly banning exchanges(unconfirmed), since based on coinmarketcap, China has a huge percentage of bitcoin's trading volume (look at screenshot below). Also, don't forget that bitcoin rose in price too high and too fast in the past months. So a correction is really to be expected.

The most effective attack that is ongoing right now by bankers is trying to steal the bitcoin brand by raising the blocksize and putting government agents like Jeff Garzik in control of the protocol by being the main dev. We must  defeat segwit2x hardfork, that is the real treat of Bitcoin right now as a store of value. Im not even counting Bitcoin Cash, it's pretty dead now, but next step is defeating segwit2x.

Government issued hardforks are the biggest attack vector for Bitcoin, not pump and dumping it, because eventually the volume will be too big for that to matter.

[amacar2]

This most recent market correction is the result, in my opinion, of central bankers buying lots of bitcoin for the sole purpose of dumping it hard, to  increase volatility/risk of holding bitcoin longterm, and therefore retard and discourage it's adoption as a replacement for fiat currency.

No that can't be sole reason for the current dump/correction, its just a tricky work from chinese whales. They spreded a fud of chinese government going to ban local bitcoin trading platform and ICO which cause a massive panic among newbie traders. And now all of those chinese whales are buying bitcoin slowly to see at peak for quick profit.

[jjacob]

The central bankers of the world aren't worried about Bitcoin right now. They certainly wouldn't want to spend time and resources in trying to crash the market.

[alyssa85]

Central bankers in the western world have to publish their accounts, so we can see exactly what they are buying. And they haven't been buying bitcoin, they've been buying bonds (ECB and BoE), while the Fed hasn't been buying anything at all - they stopped QE in 2014.

The rise in bitcoin since August is more down to hedge funds moving into the space.

these central banks are all privately owned by people who avoid publicity, and who have amassed considerable wealth by printing money and loaning it out to governments (what a scam).  They could be doing anything with their amassed wealth without anyone knowing.

Well the Bank of England is wholly owned by the British state (has been since 1947 when it got nationalised). I think the ECB is owned by the European Union.

[fanbeila]

Its true that bankers consider bitcoin as their main rival.But for that reason,they won't try to do such acts like buying huge volume of bitcoins and dump.Even if they do so,there is a huge buy wall since there are investors all over the world for bitcoin waiting eagerly for an opportunity to buy bitcoins at cheap price.They won't spare such a golden opportunity.So,bankers would not do that since bitcoin market is not like an altcoin market with very small marketcap.This price fall is due to situation which arose after china banning ICOs and bitcoin exchanges.

[Catmony]

I have never heard about this types of speculation 
No the only one who are trying to dump the market is few whales so they can buy back what they have sold at peak. Government and central banks are not interested in crashing down bitcoin market till now.

[Gotottack]

This is just some kind of conspiracy theory. I don't think the big banks and whoever wants to bring down bitcoins would spend millions of dollars just to bring it down. That means if they would dump big amounts of bitcoins then they would need a lot of bitcoins too. That means they will be buying a lot of bitcoins for purposes of dumping which will result to pumping it.

[Papski]

They would entirely need a billions of dollar in order to destroy BTC value they are facing different types of users in different countries. Even big companies are already using BTC they need alot of whales to cause fear.

[Meuh6879]

You can't destroy thing that they aren't on exchange ...  it's called COLD STORAGE

And Bitcoin, it's more than a country now :

[kwukduck]

If the correction is because of central bankers buying lots of bitcoin, then why did the price crash? Wouldn't it rise because bankers bought lots of bitcoin like you said?

The price semi-crash/dip is because of China possibly banning exchanges(unconfirmed), since based on coinmarketcap, China has a huge percentage of bitcoin's trading volume (look at screenshot below). Also, don't forget that bitcoin rose in price too high and too fast in the past months. So a correction is really to be expected.

The most effective attack that is ongoing right now by bankers is trying to steal the bitcoin brand by raising the blocksize and putting government agents like Jeff Garzik in control of the protocol by being the main dev. We must  defeat segwit2x hardfork, that is the real treat of Bitcoin right now as a store of value. Im not even counting Bitcoin Cash, it's pretty dead now, but next step is defeating segwit2x.

Government issued hardforks are the biggest attack vector for Bitcoin, not pump and dumping it, because eventually the volume will be too big for that to matter.

Sorry you have it all backwards.
Core coin is the bankster controlles coin, not SW2x.
The Core coin developers are paid by Blockstream which is owned and controlled by big banks, they are actively stagnating Bitcoin development.

The SW2x team is a free team that tries to make Bitcoin work again and scale properly just like Satoshi envisioned.
Core team has been infiltrated and compromised for a few years now.

Anybody who thinks big banks and government will let  a project as big and world changing as Bitcoin develop without their control is nuts.