Does the FED already control Bitcoin?

[1Referee]

Answer to question : No

Why are people thinking that governments control bitcoin, they don't want, and don't need to do so. They already know that eventually it will not survive.

And you know this by how?  Are you take advice from your magic 8 ball again?  Crystall ball out of order again?

The percentage of people that currently are using bitcoin is very very small, if you ask people on the streets will you ever use bitcoin, or do you want to know more about it, answer is NO.
Why? Because they do not trust it, stories such as Mtgox bitcoin theft, hackers, etc, are also not helping.

But I can be wrong ofcourse, for me the only reason I and many others support bitcoin is to make money If there was no money to be made with crypto, I and many people wouldn't be here.

[ChuckBuck]

Answer to question : No

Why are people thinking that governments control bitcoin, they don't want, and don't need to do so. They already know that eventually it will not survive.

And you know this by how?  Are you take advice from your magic 8 ball again?  Crystall ball out of order again?

The percentage of people that currently are using bitcoin is very very small, if you ask people on the streets will you ever use bitcoin, or do you want to know more about it, answer is NO.
Why? Because they do not trust it, stories such as Mtgox bitcoin theft, hackers, etc, are also not helping.

But I can be wrong ofcourse, for me the only reason I and many others support bitcoin is to make money If there was no money to be made with crypto, I and many people wouldn't be here.

The one thing we Bitcoiners have on our side is time.  Bitcoin is only a toddler or tyke, only 5 years old.

Plenty of wiggle room for growth, adoption, maturation of this technology.

If you think Bitcoin is the "Internet of Money", do your part, help it grow, spread the word, back Bitcoin businesses.

If you think Bitcoin is a speculative bubble, wait for the next price hike, cash out and get out before the burst.

[majakn]

I hope NO

but they will try

petrodollars are doing down...so they are looking something for sure

[RodeoX]

So if I own a lot of bitcoin, who do I get to control? 

[monim1]

My answer is no. Specially not for now. I don't think FED wants to control or kill bitcoin. If they really wanted to kill bitcoin they can do it by crashing the value by other means.

[findftp]

But I can be wrong ofcourse, for me the only reason I and many others support bitcoin is to make money If there was no money to be made with crypto, I and many people wouldn't be here.

Cool, your in it to make more "money".
I'm in it to make more Bitcoin! 

Very brave to be bullish on FIAT looking at the long term trend line of crypto.
I'm sure some people said the same about combustion engines when the world was running on steam.

[findftp]

My answer is no. Specially not for now. I don't think FED wants to control or kill bitcoin. If they really wanted to kill bitcoin they can do it by crashing the value by other means.

*if* they are able to kill bitcoin, they won't do it soon because it would rush a lot of people into gold.
And we all know about the US gold holdings... and the german repatriation.
I doubt they want to kill it. They are probably in it already big time.
If you want to play *safe*, go long BTC as long as they hold the 150k btc they took from silk road.
Don't listen to them, look at their actions.

[cryptoanarchist]

The Federal government has all the mtgox coins - be certain of that.

[findftp]

The Federal government has all the mtgox coins - be certain of that.

That's already my assumption.
I think they did some blackmail on Karpeles to get his coins.
They probably injected some childporn on his computer and said he probably did not want to get that fact public knowledge.

[LAMarcellus]

I got stuck on "ton of bitcoin".

How does one weigh a bitcoin?!?   

[cryptoanarchist]

The Federal government has all the mtgox coins - be certain of that.

That's already my assumption.
I think they did some blackmail on Karpeles to get his coins.
They probably injected some childporn on his computer and said he probably did not want to get that fact public knowledge.

There are two possibilities:

One is that Karpeles was part of a government honeypot all along.

The other is that he was forced to. I'm sure they could have threatened him with all kinds of things. He was already being forced into regulations in early 2012 when mtgox started requiring gov IDs for fiat withdrawals. Then they had their dwolla account frozen. These events tell me the government was already up their ass and probably knew everything about their finances. Add to that the bullshit stories about where the coins went that don't add up and the fact that Karpeles is still roaming free, and you can easily deduce that the Feds have all the mtgox transaction records and all the coins in their possession.

[stryknyne666]

Of course they do

[turvarya]

The Federal government has all the mtgox coins - be certain of that.

That's already my assumption.
I think they did some blackmail on Karpeles to get his coins.
They probably injected some childporn on his computer and said he probably did not want to get that fact public knowledge.

There are two possibilities:

One is that Karpeles was part of a government honeypot all along.

The other is that he was forced to. I'm sure they could have threatened him with all kinds of things. He was already being forced into regulations in early 2012 when mtgox started requiring gov IDs for fiat withdrawals. Then they had their dwolla account frozen. These events tell me the government was already up their ass and probably knew everything about their finances. Add to that the bullshit stories about where the coins went that don't add up and the fact that Karpeles is still roaming free, and you can easily deduce that the Feds have all the mtgox transaction records and all the coins in their possession.

Besides that he is in Japan. He is prosecuted by Japanese law. He's nationality is French.
You US-Americans really think, you are the Center of the world ...

[findftp]

There are two possibilities:

One is that Karpeles was part of a government honeypot all along.

The other is that he was forced to. I'm sure they could have threatened him with all kinds of things. He was already being forced into regulations in early 2012 when mtgox started requiring gov IDs for fiat withdrawals. Then they had their dwolla account frozen. These events tell me the government was already up their ass and probably knew everything about their finances. Add to that the bullshit stories about where the coins went that don't add up and the fact that Karpeles is still roaming free, and you can easily deduce that the Feds have all the mtgox transaction records and all the coins in their possession.

Besides that he is in Japan. He is prosecuted by Japanese law. He's nationality is French.
You US-Americans really think, you are the Center of the world ...

He never talks about Americans. He is talking about government in general.

[turvarya]

There are two possibilities:

One is that Karpeles was part of a government honeypot all along.

The other is that he was forced to. I'm sure they could have threatened him with all kinds of things. He was already being forced into regulations in early 2012 when mtgox started requiring gov IDs for fiat withdrawals. Then they had their dwolla account frozen. These events tell me the government was already up their ass and probably knew everything about their finances. Add to that the bullshit stories about where the coins went that don't add up and the fact that Karpeles is still roaming free, and you can easily deduce that the Feds have all the mtgox transaction records and all the coins in their possession.

Besides that he is in Japan. He is prosecuted by Japanese law. He's nationality is French.
You US-Americans really think, you are the Center of the world ...

He never talks about Americans. He is talking about government in general.

I thought, we are talking about the FED here.

The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States.

http://en.wikipedia.org/wiki/FED

He can't talk about governments in General in a concrete case. So, which "government was already up their ass"? The Japanese? So, the Japanese government has the MtGox Bitcoins?

[findftp]

I thought, we are talking about the FED here.

The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States.

http://en.wikipedia.org/wiki/FED

He can't talk about governments in General in a concrete case. So, which "government was already up their ass"? The Japanese? So, the Japanese government has the MtGox Bitcoins?

It is difficult to point to a person or a group.
I think if you point to the BIS you are very close.

[turvarya]

I thought, we are talking about the FED here.

The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States.

http://en.wikipedia.org/wiki/FED

He can't talk about governments in General in a concrete case. So, which "government was already up their ass"? The Japanese? So, the Japanese government has the MtGox Bitcoins?

It is difficult to point to a person or a group.
I think if you point to the BIS you are very close.

you mean them
http://en.wikipedia.org/wiki/Bank_for_International_Settlements

I haven't heard of them, yet. Might look into it.

[roguishur]

controlled by China 

[johnyj]

Don't think what they will do, think what they CAN do

One possibility: Large banks accumulated large amount of bitcoins (850,000) and mass dump those coins on MTGOX when price crashed from $1200 to $300, since normal sheeples in the market only look at the price, they will get panic and dump their coins on the way down, this can essentially send coins to $1 in one night due to insufficient fiat money in the exchange, and then bitcoin is back to 2010

But MTGOX discovered these huge amount of dump and removed them from the market, saying coins were stolen. So they successfully defended the exchange rate, but they went down too. Actually they have used many different way to prevent the crash of bitcoin (heavily delay the fiat withdraw or almost make it impossible, so that bitcoin is only way to withdraw)

Even this scenario is fictional, the possibility remains, and risk get higher when price reach even higher ground. Unless there is a consensus among all bitcoiners to protect the exchange rate (like central banks intervene Forex market to protect their currency's exchange rate), this will always be a threat

And from market manipulator's point of view, during the accumulate->pump->dump process, they will accumulate more and more coins thus have more ammunition next time

Just like Soros did, these kind of attack against the exchange rate is very common among hedge funds

https://bitcointalk.org/index.php?topic=594901.0

[Beef Supreme]

Bitcoin will NEVER EVER be one dollar again.

There are thousands, millions, chomping at the bit to see 100 USD again.


When the price on Gox dropped there was a huge influx of wire transfers trying to nab cheap BTC.

I will throw every dime I got at a 50 dollar BTC!