Why bitcoin will hit 100000$/BTC in 2014. My conspiracy theory

[Batshit]

Lighten up.  This is a CONSPIRACY thread.

That means any marginally plausible posts are to be expected.  Sheesh, some of you actually believe posters are truly pushing substantive ideas.  [We're not, btw]

-----------

Now, as I was saying:  The "satoshi" name was a brilliant misdirection which some appear to be falling for wholesale.  Same goes for the other misdirections.

Why would Treasury or the Fed do it?  Because there is no other way to pull all those trillions out of the system without blowing up the global economy.  The dollar (and all fiat) boat has been sinking since 1913 when a dollar was actually a dollar.  Today's dollar will buy what $.03 would have bought in 1913.  This is not new news; and there are plenty of smart people who have known for quite some time that propping up the global economy by printing (globally) $100-200 billion per month is unsustainable. 

Creating an entirely new government-neutral currency is a brilliant way out for any country wanting a way out of the fiat farce.  It's actually the USD that will benefit most (or is adversely affected the least) because as the current dominant reserve currency, when all the others go tits up, people will still be converting BTC to/from the USD.

wow this is a good idea at least i think... i have heard that the FED will haveto somehow "extract" the additional money (it printed) from the system... So your idea is that it has made bitcoin and when theres enough money in it, they will crash it somehow, thus "destroying" the money they wanted to destory. Did i get it right? (im not, thats why im asking). Thats quite a brilliant idea!

But i think its not true, because even when it sounds possible, dont forget that the money which "is" in bitcoin wont get destroyed, it will just get transfered from the last buyer of bitcoin to the last seller... Thats all. The money still exist, it just changed hands. The only waya how to really destroy is, when the last seller of bitcoin (thus the person receivng majority of the cash) would be the FED or GOV, this means that they would have to hold the appropriate ammount on BTC. Which would have to be huge...

Its an interesting idea, maybe i didnt fully understood it, how did you meant it please in detail?

Yes, you misunderstood.  What I am suggesting is that Treasury and the Fed realize the USD is doomed if the status quo continues.  So, they reached out to the crypto-minds over at the NSA to serruptitiously release XBT in 2009.  The objective being to blow up the status quo and REPLACE it with XBT. 

As the price of XBT rises and gains acceptance, the masses will voluntarily exchange their trillions of USD and other fiat for XBT.  The end game would be XBT as the global, anti-hegemonic, deflationary standard currency with the USD being the sole surviving fiat along with it;  AND minus the over-supply of USD which exists today.

[giarc]

I like your theory!

But realistically, it's just wealthy Chinese investing. I invested some for some Chinese businessmen back in the 50s after the April crash. Then Baidu announced accepting BTC, getting the ball rolling -plus free trading at BTCChina, people put money in to trade, pushing up the price, causing a mania - Asians love this type of stuff.

To play devils advocate, the government in china is pretty much controlled by the same rich businessmen. Is it not in their interest to have the chinese government pushing up the value of their investments.

[Snail2]

Well I guess they are preparing for eMunie and silently getting rid of the competing CCs... 

[Mikcik]

Lighten up.  This is a CONSPIRACY thread.

That means any marginally plausible posts are to be expected.  Sheesh, some of you actually believe posters are truly pushing substantive ideas.  [We're not, btw]

-----------

Now, as I was saying:  The "satoshi" name was a brilliant misdirection which some appear to be falling for wholesale.  Same goes for the other misdirections.

Why would Treasury or the Fed do it?  Because there is no other way to pull all those trillions out of the system without blowing up the global economy.  The dollar (and all fiat) boat has been sinking since 1913 when a dollar was actually a dollar.  Today's dollar will buy what $.03 would have bought in 1913.  This is not new news; and there are plenty of smart people who have known for quite some time that propping up the global economy by printing (globally) $100-200 billion per month is unsustainable. 

Creating an entirely new government-neutral currency is a brilliant way out for any country wanting a way out of the fiat farce.  It's actually the USD that will benefit most (or is adversely affected the least) because as the current dominant reserve currency, when all the others go tits up, people will still be converting BTC to/from the USD.

wow this is a good idea at least i think... i have heard that the FED will haveto somehow "extract" the additional money (it printed) from the system... So your idea is that it has made bitcoin and when theres enough money in it, they will crash it somehow, thus "destroying" the money they wanted to destory. Did i get it right? (im not, thats why im asking). Thats quite a brilliant idea!

But i think its not true, because even when it sounds possible, dont forget that the money which "is" in bitcoin wont get destroyed, it will just get transfered from the last buyer of bitcoin to the last seller... Thats all. The money still exist, it just changed hands. The only waya how to really destroy is, when the last seller of bitcoin (thus the person receivng majority of the cash) would be the FED or GOV, this means that they would have to hold the appropriate ammount on BTC. Which would have to be huge...

Its an interesting idea, maybe i didnt fully understood it, how did you meant it please in detail?

Yes, you misunderstood.  What I am suggesting is that Treasury and the Fed realize the USD is doomed if the status quo continues.  So, they reached out to the crypto-minds over at the NSA to serruptitiously release XBT in 2009.  The objective being to blow up the status quo and REPLACE it with XBT. 

As the price of XBT rises and gains acceptance, the masses will voluntarily exchange their trillions of USD and other fiat for XBT.  The end game would be XBT as the global, anti-hegemonic, deflationary standard currency with the USD being the sole surviving fiat along with it;  AND minus the over-supply of USD which exists today.

Yeah ok, i get it now, i have thought about this in some thread here also...

But there are few things that play against this conspiracy theory... Few of them:

1) When gov. has the ability to print money "out of air" then is gives it a huge advantage, why give it up (because you cant do it with bitcoin)... Why should gov. give it up with BTC?
2) Wouldnt mass adoption of BTC (at least in western world) quite destroy the hole idea of banks and their fractional reserve banking  mechanism...? There is a rumour that banks control a lot of whats going on, would they really be in favour of something that might kill them?
3) Smaller one: If BTC was designed really this way from the begging to allow a mass adoption, would it be more likely they would make a bigger cap than just 21 milinon coins...? Because paying for something with 0,0001 BTC on a daily basis just doesnt seem very handy or usefull.

What do you think about thes issues?

[aminorex]

1) When gov. has the ability to print money "out of air" then is gives it a huge advantage, why give it up (because you cant do it with bitcoin)... Why should gov. give it up with BTC?
2) Wouldnt mass adoption of BTC (at least in western world) quite destroy the hole idea of banks and their fractional reserve banking  mechanism...? There is a rumour that banks control a lot of whats going on, would they really be in favour of something that might kill them?
3) Smaller one: If BTC was designed really this way from the begging to allow a mass adoption, would it be more likely they would make a bigger cap than just 21 milinon coins...? Because paying for something with 0,0001 BTC on a daily basis just doesnt seem very handy or usefull.

1)  "Government" is just a bunch of people with varying agendas.  Any conspiracy of people, some of whom have government jobs, is not an act of "government"  but an act of those people.   Some people with government jobs are pro-fiat.  Some people with government jobs are anti-fiat. This is an exit strategy, to deal with the mathematically inevitable eventual failure of fiat.  As such, it is (1) a clever conspiracy for self-interest and (2) excellent government policy, protecting against a threat to society.

2) Banks are like government, an interlocking collection of communities of interest.  The boards and officers of money-center banks would mostly be opposed to bitcoin, but that does not mean that forward thinking groups within government have their interests aligned with the boards of money-center banks.  In fact, the latter is quite incredibly unlikely.

3) Get this PLEASE.  Bitcoin is infinitely divisible.  The BTC money supply is INFINITE.  Stop the whole 21mln meme before it deludes everyone further.  Unit bias is a psychological fallacy, and purely an issue of user interface.

[RenegadeMind]

3) Get this PLEASE.  Bitcoin is infinitely divisible.  The BTC money supply is INFINITE.  Stop the whole 21mln meme before it deludes everyone further.  Unit bias is a psychological fallacy, and purely an issue of user interface.

This is simply not true.

Get yourself a nice glass of beer. Notice how the beer is divisible.

Now... languish in the torment that you do not have an INFINITE supply of beer.

[XxionxX]

3) Get this PLEASE.  Bitcoin is infinitely divisible.  The BTC money supply is INFINITE.  Stop the whole 21mln meme before it deludes everyone further.  Unit bias is a psychological fallacy, and purely an issue of user interface.

This is simply not true.

Get yourself a nice glass of beer. Notice how the beer is divisible.

Now... languish in the torment that you do not have an INFINITE supply of beer.

Math, you don't understand it. Numbers are not beer. Bitcoin may not be infinitely divisible but it can be divided far enough to make no difference to anyone.

Obvious troll is obvious.

[HeliKopterBen]

Anywhere between 100 and 100000 is not out of the question in 2014.  100 would be a 92% decline from ATH which would be a stretch and 100000 would be 100 times increase from current price which is possible given bitcoins history and the possibility of an extreme parabolic rise.  If either happen, I wouldn't expect the price to stay there for long.

[Kungfucheez]

Lighten up.  This is a CONSPIRACY thread.

That means any marginally plausible posts are to be expected.  Sheesh, some of you actually believe posters are truly pushing substantive ideas.  [We're not, btw]

-----------

Now, as I was saying:  The "satoshi" name was a brilliant misdirection which some appear to be falling for wholesale.  Same goes for the other misdirections.

Why would Treasury or the Fed do it?  Because there is no other way to pull all those trillions out of the system without blowing up the global economy.  The dollar (and all fiat) boat has been sinking since 1913 when a dollar was actually a dollar.  Today's dollar will buy what $.03 would have bought in 1913.  This is not new news; and there are plenty of smart people who have known for quite some time that propping up the global economy by printing (globally) $100-200 billion per month is unsustainable.  

Creating an entirely new government-neutral currency is a brilliant way out for any country wanting a way out of the fiat farce.  It's actually the USD that will benefit most (or is adversely affected the least) because as the current dominant reserve currency, when all the others go tits up, people will still be converting BTC to/from the USD.

wow this is a good idea at least i think... i have heard that the FED will haveto somehow "extract" the additional money (it printed) from the system... So your idea is that it has made bitcoin and when theres enough money in it, they will crash it somehow, thus "destroying" the money they wanted to destory. Did i get it right? (im not, thats why im asking). Thats quite a brilliant idea!

But i think its not true, because even when it sounds possible, dont forget that the money which "is" in bitcoin wont get destroyed, it will just get transfered from the last buyer of bitcoin to the last seller... Thats all. The money still exist, it just changed hands. The only waya how to really destroy is, when the last seller of bitcoin (thus the person receivng majority of the cash) would be the FED or GOV, this means that they would have to hold the appropriate ammount on BTC. Which would have to be huge...

Its an interesting idea, maybe i didnt fully understood it, how did you meant it please in detail?

Yes, you misunderstood.  What I am suggesting is that Treasury and the Fed realize the USD is doomed if the status quo continues.  So, they reached out to the crypto-minds over at the NSA to serruptitiously release XBT in 2009.  The objective being to blow up the status quo and REPLACE it with XBT.  

As the price of XBT rises and gains acceptance, the masses will voluntarily exchange their trillions of USD and other fiat for XBT.  The end game would be XBT as the global, anti-hegemonic, deflationary standard currency with the USD being the sole surviving fiat along with it;  AND minus the over-supply of USD which exists today.

Yeah ok, i get it now, i have thought about this in some thread here also...

But there are few things that play against this conspiracy theory... Few of them:

1) When gov. has the ability to print money "out of air" then is gives it a huge advantage, why give it up (because you cant do it with bitcoin)... Why should gov. give it up with BTC?
2) Wouldnt mass adoption of BTC (at least in western world) quite destroy the hole idea of banks and their fractional reserve banking  mechanism...? There is a rumour that banks control a lot of whats going on, would they really be in favour of something that might kill them?
3) Smaller one: If BTC was designed really this way from the begging to allow a mass adoption, would it be more likely they would make a bigger cap than just 21 milinon coins...? Because paying for something with 0,0001 BTC on a daily basis just doesnt seem very handy or usefull.

What do you think about thes issues?

1.) Money is made "out of thin air", there's a whole process involved in harvesting the raw materials, manufacturing them, putting them together, and transporting all of that to the Central Banks. This gives people jobs.
2.) Banks don't control anything, the free market does, banks simply try to curb certain mechanisms so things don't spiral out of control. You can't control how 6 Billion people are going to spend their capital. You can only "try" to maintain an even balance.
3.) And I agree. 21 million coin cap is ludicrously low. If just 21 million people used bitcoin, the value would be so low that you would be dealing in fractions of a whole coin. And people tend not to like purchasing things with more then 2 decimal places. Even if the value of 1btc reaches to $100,000USD, then if someone wanted to buy a toothbrush with btc, they would have to spend .000001 btc, no one wants to deal with such ridiculous fractions for everyday purchases

[notme]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

[RenegadeMind]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

Funny enough, when I talk to friends, we most often talk in satoshis for trading. e.g. <somecoin> is 50 satoshis, etc.

The entire aversion to decimal places is easily avoided.

Many altcoins are priced in satoshis.

Some altcoins you price in mBTC.

You buy cars and houses with BTC.

None of it is very difficult.

[Kungfucheez]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

That doesn't change the fact it's still a ridiculous fraction of a whole value.

If a toothbrush costs $1.00, I could give you 100 pennies, which are fractions of that whole, but wouldn't it be easier just to give you whole dollar?

[notme]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

That doesn't change the fact it's still a ridiculous fraction of a whole value.

So what if it is 1/100,000,000th?  Guess what a penny is?  Roughly 1/2,100,000,000,000,000th of the worlds money supply.

[Kungfucheez]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

That doesn't change the fact it's still a ridiculous fraction of a whole value.

So what if it is 1/100,000,000th?  Guess what a penny is?  Roughly 1/2,100,000,000,000,000th of the worlds money supply.

If what's 1/100,000,000th? What does the worlds money supply have to do with this?

[notme]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

That doesn't change the fact it's still a ridiculous fraction of a whole value.

So what if it is 1/100,000,000th?  Guess what a penny is?  Roughly 1/2,100,000,000,000,000th of the worlds money supply.

If what's 1/100,000,000th? What does the worlds money supply have to do with this?

After deciding on 21,000,000 total coins, Satoshi estimated the worlds money supply and set the divisibility so that if bitcoin was the only money in the world, 1 satoshi (1/100,000,000th of a bitcoin, the smallest portion of a bitcoin currently) would be valued at roughly a penny.

[Kungfucheez]

Oh, you mean 100 satoshis?  That seems like a reasonable way to price a tooth brush.  Don't like that, how about 1 microbtc?

That doesn't change the fact it's still a ridiculous fraction of a whole value.

So what if it is 1/100,000,000th?  Guess what a penny is?  Roughly 1/2,100,000,000,000,000th of the worlds money supply.

If what's 1/100,000,000th? What does the worlds money supply have to do with this?

After deciding on 21,000,000 total coins, Satoshi estimated the worlds money supply and set the divisibility so that if bitcoin was the only money in the world, 1 satoshi (1/100,000,000th of a bitcoin, the smallest portion of a bitcoin currently) would be valued at roughly a penny.

Ah ok, wasn't sure what you meant. How exactly did he estimate the worlds money supply?

[notme]

The only way you can, he trusted the figures of the central banks.

[Kungfucheez]

The only way you can, he trusted the figures of the central banks.

So what if he was completely off then

[notme]

The only way you can, he trusted the figures of the central banks.

So what if he was completely off then

Then so are all the calculations modern economists rely on, so we probably have bigger problems.  Besides, even in my wildest bull dreams I can't see a future where Bitcoin is the only currency.

[shields]

Iol at the theory that the gov created bitcoin. I can only imagine the letter instructing the NSA to do it:

Hi NSA,

It's the Fed here, we'd like you to invent a new digital money that works better than any money that has come before it. Leading academic minds have been trying to do it for decades but I'm sure you guys can have it ready by next week. Once you've invented it, create an anonymous 'person' to be the creator, write some blog articles as this person, do some mailing list and forum interactions then one day announce the currency on an obscure cryptographic mailing list. Without any further NSA or gov intervention I'm sure it will just remain in relative obscurity for a couple of years before taking over the world. There'll be a round of drinks on us waiting for you when your done.

Oh and it's a secret, don't tell anyone.

Cheers,
The Fed.