Bitcoin is a legitimate threat to the banking establishment. My personal belief is that bitcoin is being set up as a store of value akin to gold. It is this idea that leads me to believe that the banksters are going to, if they arent already, amass bitcoins just like they did with gold. Sure, some people own pieces of gold but that is the scraps that they allowed out there. The vast percentage has been hijacked by the banksters. I think we will see the same thing with bitcoin (and any other crytocurrencies that start to make progress. The banks will simply go out on the open markets and start buying (remember, they can print their USDs to fund the transactions).
I find it interesting that the massive run up coincides with the bankers adding legitimacy to this sector. Perhaps it is the skeptic in me but I dont think they are doing this because they readily admit this is good for humanity and that their corrupt system is in need of changing. Instead, I think they realize it is a valid threat of which they intent to control. The reason why many project $100K or $1M per coin is the same reason they can assert control: there are only 21M bitcoins total.
Seriously, how difficult would it be for Goldman, Citi, CS, Barclays, and JPM to get together and go on a bitcoin buying spree? If they cant kill something through legislation then they will simply buy it up. At this point, we are past the point of intimidation and propaganda eliminating the cryptocurrency world. Hence, they resort the other part of the plan; use their fiat currency to fund the buying up of all the assets that they want or are a threat.
Hopefully this is just the conspiracy theorist in me.
U think they can be EOS
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EOS?
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It doesn't matter if they decide to buy up all the Bitcoin.. because they'll only be driving the price up for all of us. Furthermore, if the banks start using Bitcoin that is a good thing also, because they will no longer be able to loan more than they own and they'll be caught up in a more fair system. 😀
If they are buying up all the Bitcoin I can assure you they won't make it public. Because if we knew for sure, nobody would be selling their bitcoin anymore at current prices and it would cause it to skyrocket! So what you want to do, if you want to buy all the Bitcoin, is go and cause some FUD, create some regulations to discourage people, and then secretly buy it under the radar whilst prices are low..... which seems like what is happening right now!
Long story short: HODL and do not sell!
Edit: Also, the more USD they print the more they de-value the dollar, whilst increasing Bitcoin's price. Since Bitcoin is divisible into tiny bits, that's great!
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I would think it would be more like the banks buy bitcoins and shelf them to take them out of circulation. And yes prices will appreciate greatly but each coin that hits the market they will eat up just like they did with gold.
Yes holding will prevent this but how many are buying bitcoin with the intention of remaining in it for decades? I have a feeling most are speculating on a fairly quick profit (a few years).
And yes, what you posed in your second paragraph appears to be wha tthey are doing.
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