What’s the play on Bitcoin? Hilary and Trump both agree Bitcoin is bad???
(systemupdate.substack.com)
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"mostly owned by China and the fbi" care to back that up?
you provided a source, but the BTC address in your article is no longer holds 144k btc. the government has regularly held public auctions of seized bitcoin over the years
Here's one that states that China owns 20%. What is the truth? I have no idea. What I can back up is that if the PTB want to buy all of the BTC in the world, it would be trivial for them to do so. They own all the money. They can go in and simply add zeros to a bank account and buy all the BTC and all the rest of the faith backed crypto (or enough to crash the market). If you think they can't, you don't understand what "money" is.
A "US dollar' is actually a Federal Reserve Note. We are not allowed to "counterfeit" a US dollar not because its US currency, but because its copyrighted by the private corporation known as the Federal Reserve. They can make any amount of US dollars they want, at any time. They only reason they don't is because that's not the purpose of the dollar.
The dollar (FRN) is an asset transfer vehicle. They put FRNs out there, we put them in our bank account, banks loan "our" FRNs out to other people, banks collect interest on those loans, and then they take that interest and buy real assets (our real assets).
If, on the other hand they were to just "print money" (which they can do at any time) it would cause the economy to crash and the real asset transfer mechanism would stop. However, if they want to crash the economy anyways, they can just print whatever money they need, buy all the crypto, and then end the whole charade, then bring in the Great Reset. I actually think this is their plan.
The reason this would work, is because inflation lags behind money creation. There is a time in between the creation of money and the destruction of the economy. In that window (about one to two years depending on how much they print) they can do whatever the fuck they want and no one would notice a thing.
This isn't even illegal. You should really read the Federal Reserve Act. When I get to Part 3 of my report, this will all be made completely clear.
Nice analysis.
you clearly don't even understand the issuance model of bitcoin if you think somebody can just "buy all of it up"
You don't need to buy it all to crash the market. If you think you do, you "clearly don't even understand" what it takes to destroy faith when you own all the money in the world and all the media. You could probably destroy the market with 10%. When the price starts to fall, people get out. When people get out, more people get out. When more people get out, all people get out, except those holding the bag. People will realize it has no intrinsic value, and it will be worth absolutely nothing.
As long as there is an exchange between FRNs and Btc, Btc is compromised, because they own all the FRNs.
Its backed by faith. It is worthless. It can't be used to make anything (or at least its value is not tied to its productive capacity), it has no intrinsic value.
I get that you are invested, but that has nothing to do with reality, only your belief, and your belief is only as valuable as everyone else's belief.
True. In fact that’s how bank runs happen. And how toilet paper at Costco runs out during a pandemic that doesn’t involve crapping your pants.
You just described the US dollar.
Oh shit I had no idea you're a financial expert. Nice. Please make a megathread for people not in the know. I'm very deficient in knowing the BASICS of bitcoin/finance/economy so a basic tutorial is also appreciated. If you have time. Thank you for typing all this out for us already!