It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.
I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.
I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.
I believe we still would have seen plenty of infrastructure growth if Bitcoin had stayed in the $100-$200 range. Hell, I was going to start a business until the price skyrocketed to $1000. Now I'm pointed towards accumulation, as I'm sure many are. If anything it has created more speculators.
I think Central Banks are full of smart people but stuck in their political bubble where things happen very slowly. Bitcoin is probably on their radars, but ask one of the old farts on the board what open source software is and watch the confusion. It's the same phenomenon that causes corruption in governments and bureaucracies around the world. The corruption becomes institutionalized, normalized and the people on top tend to block ideas that would threaten the status quo, which they depend on for their quality of life. The boys on the bottom see it as the only route to a political "career" and happily comply. Though Central Banks loan money to the US government, they are technically not part of the government. Since they can't close down Bitcoin, they are generally powerless against it besides trying to influence the slow process of legislation. And they must comply with the regulations that their predecessors put into place to help their banker friends and family get rich from, so it's not like they can just wave away Bitcoin.
Or maybe, just maybe, there's a nagging feeling in the back of central bankers' heads that Bitcoin could help them in the future, as they aren't stupid they know the financial system in both Europe and the US is on the brink.
Central banks perform market operations in the stock markets, gold markets and of course forex. Bitcoin is tiny but definitely on their radar.
Central banks buying bitcoins would lend a sense of legality to bitcoins. Governments wouldn't let central banks do that, at least not until they are sure that it is in their best interests.
Wait.....Do governments run the show or do the central banks
