You still think Bitcoin is uncontrollable?

[WellRozey]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

[Ambatman]

Government can only buy what's available for sale. If there's no seller they can't buy.

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

You don't get it. The more money they print. The lesser it's value
And the More expensive Bitcoin gets until their currency is worth nothing.
So if they used such strategy it would crumble their economy and shoot Bitcoins price.

it means I am in control.

You are in control of what you have access to with your seedphrase.

And even if you try to come from the angle of the government forcing a protocol change
Whatever it's created isn't Bitcoin.

Am I been gullible to my own thoughts after all?

Yes.

[Peanutswar]

They just have a power into their regulatories in terms of the Bitcoin or lets say with the cryptocurrency once its take inside their country but over all the use of the bitcoin is they cant. Again the bitcoin use and becomes known with being decentralized so one can control the use of the bitcoin at all.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

And bitcoin is not like with fiat currency of the different country that just printing that makes the price lower, in Bitcoin we have the halving which is we are limiting the number of supply of the bitcoin so its either the use of p2p or the use of exchange is they can buy a bitcoin.

[Alpha Marine]

The more they print, the more their currency loses value, and the more they need to print more to buy Bitcoin. And the more they buy, thereby creating demand, the more the bitcoin price will keep increasing, and that will mean they need to print more money to buy up more bitcoin.
To hold bitcoin comfortably, you need to control the market whenever you want. Based on what you propose, you need to hold at least 5 million to 10 million BTC. The worth of that bitcoin, based on the current price, is over $500 billion to over $1 trillion. So why would the government do that with an endgame to just control Bitcoin?

We all know what will happen to the market now if news broke that a government, like the US government, starts buying bitcoin and they intend to buy about 2 million BTC. Not only will investors start buying, but other countries will also want to start buying because they won't want the US alone to have the power to control the market. A demand of that nature may push the bitcoin price to over $500k per bitcoin, making it even more expensive for the government to buy. They will need to print more money.

[Text]

even if a government prints unlimited fiat to buy Bitcoin, they can’t control it in the same way they control their own currency. with enough capital they could temporarily influence the market, drive prices up or even cause volatility through large-scale buying or selling but Bitcoin’s supply is fixed at 21 million and ownership is decentralized. Once they buy BTC, they’re just another participant in a global network where no one can change the rules, freeze accounts or reverse transactions.

[Justbillywitt]

And how many times do you think that you will play the game of sneezing on social media without people noticing that it is the trick you are using to buy bitcoin cheaply? You ain't buying those bitcoin in your name with those printed money, you will buy the bitcoin in the name of your country so it won't take long for people to notice that and you will lose your relevance, and your subsequent sneezes won't have anymore effects on bitcoin prices. At that point how do you intend to continue controlling bitcoin?

[Dogedegen]

Even if you owned 99% of all Bitcoins in existence that would give you no control. This is not a POS shitcoin like ETH or Solana. They are at risk of such an attack. If you and your gang owns 51% of the coins of ETH or Solana you have complete control over the network. POW works differently.

Government can only buy what's available for sale. If there's no seller they can't buy.

These attack scenarios are not smart, they fail in the basics. If people knew that this was going to happen or they saw that it started happening they would rush to the market to buy as much Bitcoin as possible before the government buys more. This would cause the price go skyrocket further making it difficult for the government to acquire more. Actually this could be a good way to hyper-inflate and destroy your own fiat currency. It would be a very dangerous idea.

At that point how do you intend to continue controlling bitcoin?

Owning Bitcoin does not give you any power over Bitcoin. People are confused on the basics. Having the ability to manipulate the market price is not the same as having power over Bitcoin. They are completely separate concepts.

[kriminall]

even if a government prints unlimited fiat to buy Bitcoin, they can’t control it in the same way they control their own currency. with enough capital they could temporarily influence the market, drive prices up or even cause volatility through large-scale buying or selling but Bitcoin’s supply is fixed at 21 million and ownership is decentralized. Once they buy BTC, they’re just another participant in a global network where no one can change the rules, freeze accounts or reverse transactions.

Of course, Bitcoin, like all other commodities, was affected by these announcements. However, the biggest problem was experienced by altcoins and shitcoins. Therefore, we can't place much blame on Bitcoin. It's because it's rebounded from where it crashed, losing approximately five percent. When you look at other global markets, such as oil, natural gas, and silver, they've also experienced similar losses. There aren't many assets left that remain stable, other than gold, because gold thrives on chaos. I believe Bitcoin remains stable today. I still have confidence in it and will continue to do so in the future.

[rat03gopoh]

Since the government can print money excessively,

Until this happens, it's clear that the governments involved are unable to control their countries' economies. They shouldn't even try to touch Bitcoin until they fix the internal problems.

since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

It would be more effective to suppress the printing of new money while simultaneously implementing policies that increase the value of their currencies. If necessary they can buy 1 bitcoin with the smallest denomination of their currency.

Furthermore, there's no point in trying to control Bitcoin by owning a large portion of the supply. This might only affect the value, but not individual ownership.

[Cuda911]

Which one do you see them using the most a s a tool to manipulate the market? Buying and selling of Bitcoin or some real world news event? I think it is the latter.

Trump has manipulated the market many times and it has never been about dumping of Bitcoin or fear of massive sell off, he always bad news to manipulate the market, news about upcoming war or more hardship on the economy that involves tax fee, and this will always have an impact on the market because of weak investors who react to every news.

If Bitcoin investors are all stone cold they won't react to any bad news from Trump but unfortunately there is no way to control the mind of every Bitcoin holders at once, everyone will always react differently.

[Frankolala]

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Too much of printing fiat is what has made fiat to lose the value to what it is today. If you print fiat carelessly, the value of that currency will be decline drastically and other country currency will appreciate over yours. Bitcoin gains value while your country economy be affected badly.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

You are not Donald Trump that has the key on how to manipulate the market for him and his family members with friends to make money from the market.

[free-bit.co.in]

You are confusing control with manipulation. If you can buy a large portion of the supply and abuse that advantage for your own gain. That means you are just manipulating the market, not controlling it. Because after all, even if you hold a majority of the bitcoin supply, you can't shut down its network, or access, freeze, or confiscate bitcoins from other non custodial wallets. How can you say you control bitcoin?

Governments can manipulate the price of bitcoin at will but they cannot control the bitcoin network.

[uchegod-21]

The government will be shooting themselves in the foot if they try to print more fiat inorder to buy bitcoins massively. They think they are wise for doing so, but such act is far from wisdom. Printing more fiat will devalue the fiat; it will lead to inflation because there is more money in circulation now. The irony of the whole matter is that while fiat devalues, bitcoin price will skyrocket because of the massive buy and scarcity. Which right thinking government will want to devalue its currency just to have a "false control" over a decentralized currency they have no actual control over?

I will believe that the government can actually control Bitcoin if they can print more bitcoins. But if they don't have the powers to print more bitcoins, where then is the control? Ponder over this @op

[Hamza2424]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Yes you are thinking like a person who is high haha sorry but bro you can't just print money out of your printer, you have to be a powerful seat and you can't just buy bitcoin with that amount directly. There are regulatory frameworks to keep things under control.

If you have the power, you start printing money. You must have enough funds to back that up, or enough inflation, you can start buying bitcoin if it went unnoticed but once it is noticed, you will be hanged too haha, as you will be doing corruption.

[BIT-BENDER]

You don't understand how currency works do you? There is no government that just go ahead to print money because if they do it will just crash their currency to become worthless.
Some countries has actually gone that route to tackle economical problem but the currency went so bad that people started to dump their local currency on the street and in dump site.
If this is your imagination of how you can control Bitcoin I am sorry you need to go school yourself more on how the financial sector works.

[uche6215]

Bitcoin is only controlled by demand and supply and not by the government and its agents. The network is open source, which mean no individual controls the server, but it is publicly accessible by all.

[Findingnemo]

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

You missed the value of the fiat part, if a government just prints unlimited money then the value of the fiat will become zero and we have evidence for this with Venezuela and that is what is stopping them to buy every bitcoin and if they were to do that then they would probably did that already which means they can't which is why we need bitcoin.

[Dogedegen]

I will believe that the government can actually control Bitcoin if they can print more bitcoins. But if they don't have the powers to print more bitcoins, where then is the control? Ponder over this @op

That is never going to happen.

You don't understand how currency works do you? There is no government that just go ahead to print money because if they do it will just crash their currency to become worthless.

That is literally what they do all the time and have been doing since we left the gold standard. Every single fiat currency has lost a lot of value, close to 99% of the value before the gold standard. Just because some have lost a little bit less and are trading well against other currencies like the dollar that does not mean that its value didn't collapse.

Bitcoin is only controlled by demand and supply and not by the government and its agents. The network is open source, which mean no individual controls the server, but it is publicly accessible by all.

Bitcoin is not controlled by anything or anyone. The market price is determined by demand and supply, that is something else and not control.

[Mrbluntzy]

The reason for a decrease in value of Fiat currencies is because of the high volume of printed money, if the government still decides to print more money to buy Bitcoin, they are only doing more harm to Fiat than good, this will contribute to inflation hikes. Perhaps, that's not even a way to control Bitcoin, they are already using centralized exchange to enforce KYC on Bitcoiners so that the identity of users can be known and they can phish out a Bitcoin users if they want to, that's why some experienced Bitcoiners are warning new users against submitting of personal information on KYCs demand by exchange because it can be used against Bitcoiners later by the government. Never the less, they can try but they will not be able to have a complete control on Bitcoin because Bitcoin is decentralized, they don't even know the developer of Bitcoin.

[Smartvirus]

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Do you really think they don’t know this? I think they do and yet, it’s not a plan that they dare venture into and you would ask why…?

Now, printing more money to buy Bitcoin with it so you could be ahead of all the hodlings and the reserves, sounds like an idea but, when you print these fiat money and buy Bitcoin with it, where does the fiat money goes?

It goes right into your economy, into buying every other values you have to offer, name it, stocks, real estates, several assets and commodities… you just end up creating an even more bigger problem that would take the nation several generations to get back from.

Let’s leave Bitcoin aside, several nations are in debt to the world bank, why don’t they just print money and have it settled? Why don’t they just print money and use it for whatever government project that might be rather than resort to borrowing from the world bank?

Same principle does apply when it’s got to do with Bitcoin. No nation would dare and even then, you need Bitcoin to be in demand and circulation for it to be truly valued.