Re: No Capacity to Kill Bitcoin!

Podcast Topic: Wes Carlson and Omar have an informal discussion on varies topics including the following highlights:

- New people discovering Bitcoin - fear and greed
- How to not get caught up in the day to day Bitcoin price movements
- Congressman claims the US has no capacity to Kill Bitcoin!
- A world denominated in Bitcoin

Recorded: 19 July 2019

https://www.youtube.com/watch?v=gtMp5MijuZw&feature=youtu.be

There's one way I know how government might somehow kill, or control bitcoin in such a way. If they would consider buying all available bitcoins they can manipulate its prices or even dump it. But the possibility of a country to spend their funds to bitcoin is impossible. They are assigning budget to different sectors and it needs to be precised. In order to avoid this scenario to happen, it is good for each of us to accumulate bitcoin.

But government spending money on a thing with a goal of destroying or manipulating it will be close to impossible like you said, but somehow if US decided to do that I think that might help us for a while because of the huge demand that will happen and if US government accumulated all bitcoins available in the market or lets say to be real more than half of the market,that would be a double-edged sword to them as they might lose tons of money too

I think that for the US government to lose several billion dollars in the fall in the price of Bitcoin, these are not significant losses or risks. Even if you take into account the US government to buy Bitcoins for 50 billion dollars.

Why not? 50 billion dollars is very huge and is US will do that to stop bitcoins development, they also don't have a way to retrieve what they putted in it. They should've spent it with their projects or improvements on the infrastructures other than destroying bitcoin because there's no way they can possibly do it, holders of huge volume will not let their holdings to be sold in the current amount which the bitcoin have at the moment.