Post
Topic
Board Speculation
Re: Takeover the market by buying it...
by
QueenElizabeth
on 27/03/2013, 13:49:06 UTC
Not sure if it's the right section for my question...

The shit load of money that Bitcoin system generates without any taxes and regulations should make fiat-related organisations and governments a little nervous. Let's say they decide to kill the market...

Right now, it's roughly 87$/BTC. That makes the Bitcoin market value up to (87$ x 21M) 1.8 Billion $. In comparison, the cost of tax evasion or war on drugs in the US is a way more than that a year. Do you think these organisations would be able to buy all BTC on markets and make them lost forever? Or even change the rules by owning most of the global market? What would be the options for the market to prevent this?


Look at all the trouble EU governments are going through because of relatively tiny bailout-related disbursement. The whole Cyprus débacle was over some 7 billion euros. The US doesn't have the same problems, but the debate on the debt ceiling etc. shows that there is no extra money around. So who's going to buy every single Bitcoin in circulation? Yes, there are players that have the money to spare, i.e. China or even Australia. However, I don't see the big government interest in doing that.