Government

[xxjs]

The worst thing the government could do which would completely destroy Bitcoin (and I do so hope that there are no government or federal reserve agents reading this and passing it along to their bosses to be hailed as heros for destroying Bitcoin) is to pour billions of dollars into buying bitcoins.

If they were to skyrocket the price to say $10k-$100k each, then nobody would be able to afford them and Bitcoin would begin a slow fall toward uselessness. And if they were to go so far as to drive the price up to, say, a million dollars each Bitcoin, then Bitcoin would cease to exist immediately.

Please do not let the federal reserve in on this secret. I would hate to see the price of a single bitcoin worth a million dollars tomorrow. Do not question the logic of this, I have done much research and know this to be true.

Wink wink nudge nudge

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[Rassah]

The worst thing the government could do which would completely destroy Bitcoin (and I do so hope that there are no government or federal reserve agents reading this and passing it along to their bosses to be hailed as heros for destroying Bitcoin) is to pour billions of dollars into buying bitcoins.

If they were to skyrocket the price to say $10k-$100k each, then nobody would be able to afford them and Bitcoin would begin a slow fall toward uselessness. And if they were to go so far as to drive the price up to, say, a million dollars each Bitcoin, then Bitcoin would cease to exist immediately.

Please do not let the federal reserve in on this secret. I would hate to see the price of a single bitcoin worth a million dollars tomorrow. Do not question the logic of this, I have done much research and know this to be true.

LOL! That was funny I almost fell for it, mainly because I actually hear such arguments against bitcoin stated legitimately.

[illpoet]

i would think a more devious tactic would be if the us government forked the bitcoin client to create an alt coin we'll call them "safetycoins" since the us government is very fond of replacing the word "Oppression" with the word "Safety".  So then they would premine the whole safetycoin blockchain and give them away as part of a stimulus plan.  Then you could exchange each safety coin with fiat at your local post office for a rate of like 500 bucks each.  They could even put a nice backdoor into the algorhtym that tracks the ip of every wallet.  The general public would just see free money and be all over it.

[Rassah]

i would think a more devious tactic would be if the us government forked the bitcoin client to create an alt coin we'll call them "safetycoins" since the us government is very fond of replacing the word "Oppression" with the word "Safety".  So then they would premine the whole safetycoin blockchain and give them away as part of a stimulus plan.  Then you could exchange each safety coin with fiat at your local post office for a rate of like 500 bucks each.  They could even put a nice backdoor into the algorhtym that tracks the ip of every wallet.  The general public would just see free money and be all over it.

That would just be the government giving away free money, and would not affect Bitcoin in any way, since the reason people use it is 1) decentralized 2) open source 3) anonymous.