Quote from: FlowerMatt on July 07, 2014, 04:57:27 AM

Quote from: CoolBliss on June 30, 2014, 10:38:56 AM

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Primarily by purchasing Bitcoin as investment I'd say and creating financial products for their clients to do the same. The bank replacements are coming from the startup space which Wall Street isn't super involved in until the IPO stage as far as I know.

I am of the opinion that Monopolization of bitcoin by Wall St or govt or multi billionaires is currently really easy with its market cap of just $8billion. Here is the theory which is open for discussion positive or negative.

1. buy and hold all coins that come to market

current trading is running about $50M/ day average. Of this approx $30M/ day is used in commercial activity and anything above that is mostly speculators based on a VERY approximate estimate for May 2014,( but arguably close enough to give an idea)

http://www.quandl.com/BCHAIN/ETRVU-Bitcoin-Estimated-Transaction-Volume-USD

https://bitcointalk.org/index.php?topic=635667.msg7082530#msg7082530

2 This will force the price to rise rapidly as $30M a day is needed to continue the commercial activity and they have to get the coins from somewhere. Those merchants that immediately resell for fiat ( most) and those sales to be bought by the "market manipulator/s as there is currently no laws governing this ") will lead to a vast accumulation of coin by very few ( a situation that already exists and will be compounded ..see rich list)

3 Yes there will be many that will not sell coin until it reaches "d moon" but commerce will need coin on a daily basis and eventually this supply will dry up..( leading to the price getting half way to d'moon). Bubble....This will also cause more speculators to join in and the manipulator/s can and some will take huge profits ( x10 +++) by dripping their stash into the market at their target price.

This is not a new idea or practice..it has been going on for decades/centuries and the small market cap of all the existing coins makes it "piss easy" and has probably already been going on in the bitcoin market for some time on a limited scale. When wall st money ( trillions) gets involved and others can post the needed parameters for this..they WILL control bitcoin price although not bitcoin itself until it becomes too expensive ($50,000/ coin ++)or too risky ( Govt clamp down/ collapse of bitcoin demand etc)for them to do so.