Topic: Banker bitcoin conspiracy theory - page 2. (Read 2244 times)

My personal banking conspiracy goes thus:

A rogue central or private bank buys up coins off exchange in large numbers - say 100k - 200K. The price does not matter as its a drop in the ocean to a bank like JPM or freshly printed for the CB.

Then just do the tried and tested gold rigging manouvre.

Good news in the bitcoin ecosystem? Dump. Price reaching technical levels for a breakout ? Dump. Price starting to trickle down ..Dump to scare out recent buyers.

When the price hits rock bottom...simply buy off exchange again, say from a large corporate miner for a premium above the market rate, rinse and repeat until bitcoin is finished.

Add in some influence in the MSM and pay for internet fora trolling and online sentiment manipulation for good measure.

Why are JP Morgan repeatedly trying to patent a similar system to bitcoin?

/conspiracy.

I think what is happening right now is simply a combination of 1) speculators selling in frustration at lack of bubble, 2) margin calls and stop hunting by whales with deep pockets, 3) momentum traders jumping on board trying to short the hell out of bitcoin + sell out and buy back in lower (how many new active troll accounts are there on here last few weeks?)

Currently we seem very oversold and the price is dislocating far from development in the bitcoin ecosystem and the very healthy fundamentals.

This new conspiracy theory contradicts my old theory that Bitcoin is "just" a pilot project. It could be that Bitcoin is the real deal! Because no unregulated altcoin will likely be able to dethrone bitcoin as the leading cryptocurrency. AND, any official cryptocurrency will take YEARS for the politicians to introduce. And bitcoin has already a massive network of computing power. And the Bitcoin technology is innovative and revolutionizing, with a growing number of investors, developers and entrepreneurs.

Alternatively there is a power elite behind it all, and a huge boost for bitcoin will only be used for causing politicians to very quickly introduce an official cryptocurrency. So my old theory may still be valid.

I think this is almost certainly occurring.  Now, if it's the banks or not, I don't know, but I'm picking up a bit on every dip.

Yes, for the trick to work the bankers would have bought lots of bitcoins earlier, just to sell now! A massive dump. And when the price reaches a low enough level they start to buy again like crazy.

Certainly possible, but they would have had to be holding in the first place to cause this mess.

I came to think about a speculative conspiracy theory. The BitLicense will allow banks to quickly accept and adopt bitcoins. And now the banksters are pancaking the bitcoin price so they can easily buy the majority of the bitcoin market (corner the market). And after that stunt the bitcoin price will skyrocket. Checkmate.