If they want to corner Litecoins too that would be great, and VaginaCoin and then the immense number of new coins that will be produced once people realize that the banksters will buy them all.
I think they still do not fully appreciate how disruptive this could really be.
This ... BitCoin is not a single company, there is no "The Bitcoin Company" running the bitcoin servers, or even a single decentralised network. It is open source for creating monies ad infinitum, i.e. armageddon for anybody still harbouring illusions of monopoly power over monetary issuance.
stop with the "they don't realize, they don't understand" bullshit.
They do.
We have a battle on our hands.
I agree Doc. These bankers aren't morons. They know exactly what they are doing it's just that their motivations are counter to those of Bitcoiners. Having said that, if I were them I would be looking to add BTC to the IMF sooner rather than later at potentially much higher prices. Perhaps they already have some.
Insider information about explicit Bitcoin monetization by the IMF (or any sovereign state) would be the trade of the century.
We have seen many times in the past few years how key information routinely gets leaked out by officials and bureaucrats to privileged banking cronies.
Remember, Bitcoin is the ultimate insider trading vehicle, as it's entirely unregulated in that regard. If you're a bankster with friends at the IMF and get some hint of impending action, nothing restrains you from telling all your friends and family after you've loaded up yourself. There is no SEC coming after any of you, especially if you take extra precautions and buy via OTC channels.
So if someday you start seeing the price shooting up inexplicably, day after day, on no fundamental news or media coverage, remember this article.
If there's easy billions to be made by pushing certain ideas to alumni from your company who now work as heads of central banks and treasury departments...don't be surprised to see the investment banking universe put their weight behind that kind of trade.
you know, one of my key theses as to calling the top in the gold market back in Sept 2011 was that the parabola going into that top was "big enough". whereas, all the gold bugs were calling for a parabola equivalent to the spike of 1980, i believed it couldn't get that large or disorderly b/c of the Internet.
back then, information was very asymmetric. pit traders had much more insider information than typical outsider retail investors who were always playing catch up to the big boys. thus, insiders had much more time and a head start to accumulate, manipulate, and push markets higher followed by waves of uninformed retail investors who pushed that spike into it's peak. also, we were still so close to the 1971 closing of the gold window that memories were still fresh and paranoid.
today, that can't happen. Internet communication makes info much more symmetric and even insider info lasts a much shorter amount of time. and then there was this thing called Bitcoin.
wouldn't it be ironic if Bitcoin goes into one of those 1980 parabolic spikes instead? not b/c of information asymmetry but b/c of true disruptive, revolutionary potential?
like evoorhees says, it's either going to be a zero or worth hundreds of thousands. we're much closer to zero right now yet holding well over $100 which is an awesome signal. to get to $100,000 sometime over the next 6 yrs we need to get going at some point along here. i believe that is the right timeframe as Falkvinge has outlined; 10 yrs from time zero or 2009.
i think it will be a rocket shot initiated by the banking community getting in.
