If they can print unlimited fiat, can they just not buy up all the bitcoin? - page 2.

deisik

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Quote from: TimeBits on August 06, 2019, 03:02:08 AM

Hey, If they can print unlimited fiat, could they just not buy up all the bitcoin?

This assumes "they" are in fact interested in Bitcoin

In bringing it down, or taking it under control, or whatever. But even if they could buy up all bitcoins (which they simply can't), it would make no sense as many more "Bitcoins" would quickly spring up like mushrooms after the rain. Bloody hell, we already have so many coins flooding the market even without anyone actually going to buy up just a single one of them. So seriously, why should they care?

Quote from: TimeBits on August 06, 2019, 03:02:08 AM

I made a post like this yesterday, mods removed it with no notice again

They were right as this question was asked more times than it has been replied in this thread

Quote from: Hiribi official on August 09, 2019, 07:03:52 AM

But as we know in 2008 USA showed the world how to abuse it

Whether they abused their monopoly of printing money or in fact saved the economy from imminent collapse depends largely on how you see it

sehoon

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Printing unlimited fiat is impossible since if that happens, fiat is not going to have any value anymore which can be related to cryptocurrency and cryptocurrencies are also going to lose their value.

Hiribi official

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Actually all printed money must be backed up with goods or services that confirm their solvency.
You can't just print money and say this paper will worth 100 USD...It's from economical theory)

But as we know in 2008 USA showed the world how to abuse it)))

The best feature of crypto is decentralization and it rate volatility shows us how money have to work!
It is a future of money i believe. With and without control the same time)

aplistir

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They have already printed enough money to buy all big companies of the whole world.

That would be an interesting "investment".

It is a wonder that the value of dollar has not crashed yet.

timerland

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Said Germany before going through hyperinflation...

There is one big problem with printing more money to invest or buy more cryptocurrencies, or for that matter, doing anything with it - and it's inflation, which is when you print more money, the value of your money is even worthless and you can't just "print infinite money" that way.

The countries currency will instantly plummet and they will lose money before they will be able to get the money into exchanges to buy any cryptocurrencies.

Kakmakr

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Quote from: TimeBits on August 09, 2019, 03:38:47 AM

Quote from: Kakmakr on August 09, 2019, 03:35:20 AM

OK, let me simplify this for you. If the government wants to stop Bitcoin by buying all the coins, then they would fail miserably. Let's assume they bought all the bitcoins in circulation, then a lot of people would own a lot of fiat currency right. Wink

What stops us to jump to another Alt coin and just continue this again? What stops us from creating another Alt coin that are very similar to Bitcoin and then using all that fiat currency to just buy the next popular coin.

They can keep on printing toilet paper money and devaluating their Dollar or Peso by buying all the coins and then when they want to sell those coins, nobody would want to buy it, because we moved over to the next coin. Grin

How long would that government stay in power, when the voters see what they are doing with their tax money?

It is not about them wanting to stop bitcoin (although they can if they buy asics), it is about them being able to get bitcoin for free like they do my cherries,peaches, time, lifespan and broken spine for feeding them for free my entire life.

You can keep in mind they can sell at a loss, it does not matter to them ^_^

Trump Golf Count: 202*
Cost to Taxpayer: About $107,000,000**

I don`t know but I know there would be no non willing homeless anywhere in America if I had 107 million.

btw, 300 billion has gone to Israel for relief aid *50 of the highest tech fighter drones and nukes*, 2 billion has gone to the rest of the world.
Btw, no 1 audits the fed, show me the fed audits, how do the general public know where the money is being created, and how much of it? you know this is why bitcoin exist right?
Do we get public access to the data base of codes on the money? does the fed have a public ledger? NO!

What would the benefit be to them? If they bought all the bitcoins in circulation and nobody else can get their hands on it, then the price would simply stagnate and the merchants would stop accepting it as a payment option. So, what is the natural consequence then....people will start buying other Alt coins and merchants will start accepting other coins for payment.

The coins the government owns will drastically go down in value, because you cannot buy anything with it and the other Alt coin would be more desirable and people will start using that instead. Roll Eyes

As said before, once tax payers gets wind of this, they will change their vote, because they want governments to use their tax money for things that are more important.

TimeBits

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Quote from: Kakmakr on August 09, 2019, 03:35:20 AM

OK, let me simplify this for you. If the government wants to stop Bitcoin by buying all the coins, then they would fail miserably. Let's assume they bought all the bitcoins in circulation, then a lot of people would own a lot of fiat currency right. Wink

What stops us to jump to another Alt coin and just continue this again? What stops us from creating another Alt coin that are very similar to Bitcoin and then using all that fiat currency to just buy the next popular coin.

They can keep on printing toilet paper money and devaluating their Dollar or Peso by buying all the coins and then when they want to sell those coins, nobody would want to buy it, because we moved over to the next coin. Grin

How long would that government stay in power, when the voters see what they are doing with their tax money?

It is not about them wanting to stop bitcoin (although they can if they buy asics), it is about them being able to get bitcoin for free like they do my cherries,peaches, time, lifespan and broken spine for feeding them for free my entire life.

You can keep in mind they can sell at a loss, it does not matter to them ^_^

Trump Golf Count: 202*
Cost to Taxpayer: About $107,000,000**

I don`t know but I know there would be no non willing homeless anywhere in America if I had 107 million.

btw, 300 billion has gone to Israel for relief aid *50 of the highest tech fighter drones and nukes*, 2 billion has gone to the rest of the world.
Btw, no 1 audits the fed, show me the fed audits, how do the general public know where the money is being created, and how much of it? you know this is why bitcoin exist right?
Do we get public access to the data base of codes on the money? does the fed have a public ledger? NO!

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

OK, let me simplify this for you. If the government wants to stop Bitcoin by buying all the coins, then they would fail miserably. Let's assume they bought all the bitcoins in circulation, then a lot of people would own a lot of fiat currency right. Wink

What stops us to jump to another Alt coin and just continue this again? What stops us from creating another Alt coin that are very similar to Bitcoin and then using all that fiat currency to just buy the next popular coin.

They can keep on printing toilet paper money and devaluating their Dollar or Peso by buying all the coins and then when they want to sell those coins, nobody would want to buy it, because we moved over to the next coin. Grin

How long would that government stay in power, when the voters see what they are doing with their tax money?

TimeBits

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Quote from: RealMalatesta on August 09, 2019, 01:16:05 AM

Yes, we have some very rich elites that can even buy the total supply of bitcoin in the market without even having to print fiat but how would they do that? Satoshi alone has 1 million bitcoin stocks non touched, how would they get him to sell it? The coin you have stored personally for yourself, how would they get you to sell it?

It is already too late to do that, there is no way that government can have access to all the 21 million bitcoin supplies in the market, in which over 17 million of it has already been bought, the highest they can get to buy from that 17 million is like 3 million because I am sure that those holders too are not too weak to sell off their holding to them. So, if you consider Fed printing fiat to buy off bitcoin, it is impossible, it will on get them into trouble because they will enter unnecessary debt.

They can buy asics brother and take over the network, and not listen to satoshi`s command to always use the longest chain and freeze the old chain Roll Eyes

most people don`t even listen to the first sentence of the white paper they 3x oxymoron literally just the first sentence of the white paper.

TimeBits

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Quote from: d5000 on August 08, 2019, 09:01:27 PM

His theory, in reality, would only work if all major governments would cooperate (in the case the central bank in question is the FED).

Governments don`t need to work together

STEP 1) FED prints more money (like they do daily)
STEP 2) FED BUYS ALL THE SUPPLY OF BITCOIN (and my fucking peaches and cherries that I back with my time, lifespan and work FOR FREE!)

TimeBits

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Quote from: Payme21 on August 08, 2019, 03:47:45 PM

A few rules applies to printing fiat as you can't just wake up one morning even if you're the boss in the money printing or minting office. You can't print even if you wanted except you meet the required conditions

It appears they do.

required conditions, requires you to give all the people the same amount, for now I am a farmer at a market, I have to work to create my supply, you don`t. Fuck off, you are not getting any more of my fruit with your fiat $lavey $cam bullshit.

RealMalatesta

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Yes, we have some very rich elites that can even buy the total supply of bitcoin in the market without even having to print fiat but how would they do that? Satoshi alone has 1 million bitcoin stocks non touched, how would they get him to sell it? The coin you have stored personally for yourself, how would they get you to sell it?

It is already too late to do that, there is no way that government can have access to all the 21 million bitcoin supplies in the market, in which over 17 million of it has already been bought, the highest they can get to buy from that 17 million is like 3 million because I am sure that those holders too are not too weak to sell off their holding to them. So, if you consider Fed printing fiat to buy off bitcoin, it is impossible, it will on get them into trouble because they will enter unnecessary debt.

d5000

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Quote from: ABCbits on August 07, 2019, 02:05:34 PM

Quote from: TimeBits on August 07, 2019, 01:33:24 PM

They have unlimited money to bribe them Roll Eyes

Perhaps (ignoring possibility of inflation), but keeping secret/truth in big group is extremely difficult.

Someone bound to reveal the secret/truth and government's reputation will be damaged which could cause domino effect.

His theory, in reality, would only work if all major governments would cooperate (in the case the central bank in question is the FED).

Inside the "14 Eye" region it would perhaps work. But there is a major player in the Bitcoin arena which I doubt would cooperate with the US in that game: China. And while there are not many Crypto exchanges left with a "legal company seat" in mainland China, afaik some big "offshore" exchanges operate from there. I don't think it would be easy to drown these exchanges with some kind of "deal".

Ah ok, there is a way: actually _hacking_ all exchanges outside of the US Wink

. (But all hacks would have to happen roughly at the same time).

Payme21

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A few rules applies to printing fiat as you can't just wake up one morning even if you're the boss in the money printing or minting office. You can't print even if you wanted except you meet the required conditions

giantrobot

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You may have misunderstood the value of money. We can print unlimited flat, however this will cause the currency to depreciate, this is also called inflation. Because money is something of a conversion value, it means that flat represents the value of the goods you can trade. There are many countries suffering from inflation, so countries like the US and China will not do this.

TimeBits

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Quote from: Nellayar on August 08, 2019, 04:59:29 AM

It could be true if the world bank will become fraudulent to the people.

They did in 1971, the turned all the worlds real backed money (GOLD) into something backed by nothing some monopoly magical money, that they print unlimited of, So they can en$lave everyone for free, not matter if you are a doctor, farmer, nurse, burger flipper, teacher, fireman, policeman, military man you give your limited time and work for a unlimited supply backed by nothing, delusional.

Listen to Nixon, the non crook about the stabilize part, it makes it unstable and there is data to prove the purchasing power has went down significantly since this action.
https://www.youtube.com/watch?v=7_Xw5tWsOQo

How was nothing done in 1971? WTF? you realize we are all slaves now right? even the politicians.

seriously like wtf guys? what are we doing? this is not a good system.

thecryptogandalf

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So, isn't that the reason why Bitcoin is valuable? I mean it is limited so that makes bitcoin more valuable. When they print fiat money to buy entire Bitcoin, in that case Bitcoin`s value will increase massively while fiat money is starting to depreciate massively. And likelihood of going recession will increase in a big way. As a result, In the end if this story becomes real, then situation would be worsen for them.

Nellayar

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Quote from: Mandoy on August 06, 2019, 03:51:37 AM

This topic is really deep. It is right to say that if they can print a lot of US dollars then they can buy all the existing bitcoin but let us consider that the banking elites especially the federal reserves does not want to make things obvious. If a certain volume of US dollars will be spent on bitcoin, would it be very obvious and questionable. Since there KYC and AML regulations on big exchanges their efforts to buy all bitcoins would be questioned.

Another thing is that, not all bitcoin holders are selling their bitcoins in one go. They are selling high and buying low. Imagine if the banks will buy as much bitcoin as they want in the exchanges then the value of bitcoin will surely climb up. The problem is that the big holders of bitcoin will only sell a certain amount of bitcoin. Instead of the banks getting rich it will be the bitcoin holders that are getting rich. This means that the one who will be in control will no longer the banks but the whales. The banks does not want that to happen.

In my opinion, the banks or whoever runs it have already bought a huge amount of bitcoin and other cryptocurrency at their disposal but they are unable to purchase all bitcoins being produced since it is not possible for them.

It could be true if the world bank will become fraudulent to the people. But a certain country cannot do it because there is a world bank that regulates the currencies specially dollars. Imagine, USD is used not only in America but in other parts of the world. If they will print many us dollar bills just to exchange in bitcoin. Assume that the value of dollar will be affected. And it will become disaster once it goes weak. So, definitely government will never make a foolish move that will destroy the economy of a country.

TimeBits

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Quote from: Philopolymath on August 07, 2019, 06:58:34 PM

YES they can..and are!

I know, so what is the point of bitcoin being a limited supply Roll Eyes

To all make us think bitcoin is the answer when really it is not? although I 100% agree blockchain or advanced cryptography is the answer.

Is it here to buy them another 20 years while the finish the bunkers and assault the public drones. So the "chosen people" can kill everyone else and enslave them some more?

Philopolymath

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Walter Russell's Cosmogony is RIGHT!

YES they can..and are!

Topic: If they can print unlimited fiat, can they just not buy up all the bitcoin? - page 2. (Read 897 times)