Topic: If they can print unlimited fiat, can they just not buy up all the bitcoin? - page 3. (Read 897 times)

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.

Because as somebody else pointed, that fiat enters circulation. You think my garbage gov is keeping books or showing them to anybody else? No. Did the VES kept at its value? I think it has lost 99% value in the last 11 months, and its not even one year old. Its already 1.5:1 against satoshi, you need 1 and a half bolivars to buy 1 satoshi. This coin last year when it started, was able to buy 700 000 satoshis with that same bolivar, so from 1:700000 to 1.5:1 in 11 months...

Those running the GOV, have the exact same thinking as you, that they could "somehow" remain unnoticed and stretch the budget endlessly. but NO, they can't. That extra fiat enters circulation and things rise in price, faster than they can imprison anyone rising the prices. Have you read this book? You should: [utl=https://mises.org/library/forty-centuries-wage-and-price-controls-how-not-fight-inflation]
Forty Centuries of Wage and Price Controls: How Not to Fight Inflation[/url] (its free). You will find there that, your idea isn't new, to say the least...

You have not lived it, that is why you still think its theoretically possible. IT ISN'T. If they don't print the money they can't buy it, if they print it, inflation starts the moment they use it. There is no way to cover it. The USD is a bit exceptional because most countries in the world compare against it, so what do Americans compare against? Gold? €? But even them can't go beyond certain point. USD is not invincible, print too many and it will do the same...

Besides, even if they magically bought all the existing bitcoin, what about the coins in your and my possession? The price would soar so high for those that they would need to spend all the money they just spent just attempting to buy the available ones. And some will always remain beyond their reach. But of course they would aim for 51% to pull that other trick.

They have unlimited money to bribe them  

I honestly think it should all be run buy a escrow computer, no one can die than, and the computer will be run by everyone.

They can, but

1. They won't able to buy all bitcoin due to people who lost their private keys & bitcoin maximalist who'll never sell their Bitcoin
2. They've learned history and know the risks.

Imagine what would happen if Silver Thursday and Hyperinflation in Zimbabwe event happened at same time in a county


Before the other's say it, let me say it first

5 Eyes, 9 Eyes and 14 Eyes

But where does this "invisible" fiat go? If you buy, someone must sell, but would you sell your BTC to someone who orders you to keep the deal secret and to not spend the fiat you got for a long time? That would be the only way it would work, but then everything must be managed OTC, and with ALL Bitcoin owners. You would also have to manage somehow to "drown" all exchanges. While perhaps the deal with the exchanges of your country would work somehow, but things get complicated once you'll try to buy up all Bitcoins on exchanges of other countries.

I think I get it, you seem to like to parody these "bankers are EEEVIL" guys (So Carlton Banks is basically right, but you're too funny.)

Edit: I figured out how actually they _could_ purchase all Bitcoins (or at least many of them):
- They purchase all Bitcoin exchanges in the world.
- With fake orders, they drive the price so high that all Bitcoin hodlers are tempted to sell.
- They perform an exit scam with all exchanges at once, so the sellers can't bring back the fiat into circulation.

Possible. But sounds a bit crazy, not? They would have to bribe lots of judges for that.

Some government`s do, not the Americans, which is suppose to be the world reserve dollar and be backed by gold, before Nixon made the entire world $laves to the FED.

HANG EVERYONE THAT MAKES FIAT TODAY, THEY ARE EN$LAVING YOU AND YOUR FAMILY AND FRIENDS AND YOUR FUTURE OFFSPRING

BTW GUYS, WHO GOT VOTED IN AFTER THEY KILLED JFK.

RICHARD "I`M NOT A CROOK" NIXON

Oh look someone with common sense, that is not a banker shill like half of you.

Yeah you are right, The vendors/workers all need to say fuck you to fiat in order for bitcoin to be what it is suppose to be in the first sentence of the whitepaper.
( truth is the general public still has no clue there money is backed by fuck all ) but if you look at some numbers on youtube and comments on big bankers deaths, MANY ARE WAKING UP AND ARE PISSED!

But mark my words, If we give up fiat instead of wars with country`s there will be mass murders/robbery`s.

Now if you watch the video I linked, We have a supply that is limited and unlimited and can be traded for bitcoin, we also work for it already (duration), We all earn a hour every hour, we all die and stop making supply.

limited + unlimited = supply we have never tried in history of humanity. I think this can work.

Do you all want to make the supply equally? or work for another man`s? $laves
I would rather we all make the supply, than a select few, I actually refuse to farm this year because I am not giving up my work anymore for some bull$hit.

"FED regulates tge printing of money to promote noninflationary growth"

come on dood, that is a oxymoron statement.

FED regulates tge printing of money to promote noninflationary growth.

There's this principle in economics that says they can't print too much money. It happened before un Germany when they print too much money, it just causes inflation.
Once they print more money, it will be part of the circulation.

Yah but what is the point, when we all have to work for our bitcoin, and they get the bitcoin for free?

If fiat did not exist, bitcoin would be pretty good, but still problems in the future at the end of mining with it. Limited supplies become more limited, to the point where stealing/killing is more rewarding than working. In the video I show you what happens, That is the real ending simulation of bitcoin and gold.

We limit the supply of bitcoin, but we do not limit the number of people coming into the system.

Imagine this, you have 10 people at a party and a 10 slice of pizza.
Now 100 more people show up
Now 1000

NO 1 ORDERED MORE PIZZA, EVERYONE IS HUNGRY. WHAT DO YOU THINK HAPPENS?

You going to work for 1 pepperoni, or just kill the guy and take his slice?

inb4 "but bitcoin is divisible"  

NOT INFINITELY MORONS AND IT WILL NEVER BE STABLE, BECAUSE NOW EVERY WILL KEEP GOING UP IN PRICE

Central banks trying to buy up Bitcoin is extremely bullish because that's pretty much them admitting that Bitcoin has more value than their fiat currencies they want to get rid of. It points out that Bitcoin actually works.

Aside from a few greedy fiat suckers, not many will end up selling their coins for fiat, but start spending and accepting Bitcoin more because it's working better as money. It's like the end of fiat since it solely relies on believe.

Venezuela and some African countries may not understand how they are destroying their monetary policy, but the US for example isn't that stupid. They won't shoot themselves in the foot.

Oh yah, show me the FED`s Bookkeeping, show me the audits.

link please, and I will show you, they just create the shit out of thin air, because in order for any fiat to exist, one has to just print the shit. (not even just print it, just type it into a computer nowadays) They don`t even have the cost of paper anymore.

Government have an protocol systematic regulation printing paper money.





This is exactly what I mean mate, and if the governments  print a lot of fiat for the purpose is to buy all bitcoin i think is that stupid way for goernment if the goernment hate or against bitcoin they have apwer to banned bitcoin no need to print a lit of money to buy all bitcoin to stop it circulating.

The truth is if I have a unlimited supply, that you value at any rate, I get your limited supply for free, ALL OF IT. IT IS WHY SATOSHI HAS NOT MOVED 1 FUCKING COIN YET. THEY HAVE COMMON SENSE! NOT TO TRADE THEIR COMMON SENSE FOR COMMON CENTS AKA $LAVERY.

keep shilling buddy, I am here to fix the system, not embrace slavery like you. You will thank me when we all run on a fairly distributed duration system, so will your kids. I don`t know how you get troll out of this, all I see is truth, but your clearly are blind as fuck, the greed does that to you. Next you will lose your hair, greed does that to.

I see we have one person with a brain, all the rest be like "It will devalue their currency"  SURE IT WOULD IF IT WAS ON THE FUCKING BOOKS THAT DON`T EVEN EXIST FOR THE FED

If I am Mr Banker Man Sam, I print $1000 out, the rest of the world does not know about it, how the fuck does that make the price go down?, the rest of you are still trading $1 for 3 apples, I JUST HAVE $1000 NOW TO BUY A BUNCH OF FUCKING APPLES FOR FREE, god these comments are so god damn delusional.

HEY TAKE YOUR HEADS OUT OF YOUR ASS, DUMB FUCKS, YOUR KIDS ARE $LAVES BECAUSE OF HOW FUCKING DUMB YOU ARE.

this is the latest forum troll you're shouting at

don't feed the trolls, it does not work

You didn't understand what Red-Apple wrote. Please re-read

Obviously it "is" possible for a Central Bank/FED to buy up all Bitcoins, "in theory" (at least if it's a big central bank with a lot of confidence). But every Bitcoin that was bought by a Central Bank would have also a seller which would get paid out the fiat. This fiat money enters circulation afterwards.

If a Central Bank bought all Bitcoins, then the price would rise to extreme heights even without considering the effect of an increased fiat supply. That means that they also would need to print a lot of money to buy all the BTC. Now the fiat that all Bitcoin sellers got would flow into the market. It is likely that even faucet users would be "rich" in terms of today, in this case. What would happen? Very likely, it would lead to a sharp increase in inflation, as it often happens when the supply is increasing drastically.

Even worse: If the Central Bank is too slow buying the Bitcoins, the value of their money (e.g. USD) would be affected by this effect. The USD price versus the Euro, Yuan and other currencies would go down, and the Bitcoin price would rise even further. So they would have to print even more money.

In other words: It's so insane that no Central Bank would even think about that measure if they're minimally interested in the well-being of their citizens. If not (like in Venezuela, e.g.) then it could be possible, but in this case it would be very difficult to find sellers that sell their "hard BTC" to the insanely printed fiat currency.

WTF, the government does NOT print the money. The Federal Reserve is no more Federal than Federal Express. It's a privately owned bank and what makes you think these criminals have to keep a balance? The Federal Reserve has NEVER been audited!

At least, they can't buy the 'shalecoins', coins with no owner. https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441
The only way to get them is to 'frack' their private keys.
That is the most challenging thing. https://bitcointalksearch.org/topic/the-most-challenging-thing-5166180