This was discussed several times already.
If someone tries to overtake BTC by buying huge quantities, the prices will skyrocket, just having to lay more and more money into the buying. The more someone buys, the more the price would go up, and even so they cannot buy all bitcoins on earth, as some still have to be mined, and others are not on sale.
Topic: trading fiat for crypto can be a risk to bitcoins future (Read 478 times)
Large financials could use their financial largesse to buy up large quantities of the supply of bitcoin in order to undermine it by creating volatility, manipulate its price or reduce bitcoin liquidity. Bitcoins divisibility helps to offset the liquidity aspect for quite a while I suppose.
What do others think? Could this potential threat be combated as bitcoin becomes more of a competitor to the major established financial entities?
By the time bitcoin become big enough to be viewed as a serious competitor, it would be too late to buy up large quantities of bitcoin. What do others think? Could this potential threat be combated as bitcoin becomes more of a competitor to the major established financial entities?
IMHO, large financials would use other methods, namely their political clout to make BTC illegal. It may harm BTC, but it won't kill it, just slows it down a bit.
Large financials could use their financial largesse to buy up large quantities of the supply of bitcoin in order to undermine it by creating volatility, manipulate its price or reduce bitcoin liquidity. Bitcoins divisibility helps to offset the liquidity aspect for quite a while I suppose.
What do others think? Could this potential threat be combated as bitcoin becomes more of a competitor to the major established financial entities?
What do others think? Could this potential threat be combated as bitcoin becomes more of a competitor to the major established financial entities?
This is really no different than what they do with the stock market on a daily basis.
If they succeed they get richer and if they fail we print more fiat money.
I totally agree with that, that's why I choose to trade whatever I can instead of exchanging Bitcoins into fiat
It's not a potential threat. If they buy large quantities then the price will simply go up and people would pay with fractions of bitcoin.
Large financials could use their financial largesse to buy up large quantities of the supply of bitcoin in order to undermine it by creating volatility, manipulate its price or reduce bitcoin liquidity. Bitcoins divisibility helps to offset the liquidity aspect for quite a while I suppose.
What do others think? Could this potential threat be combated as bitcoin becomes more of a competitor to the major established financial entities?
What do others think? Could this potential threat be combated as bitcoin becomes more of a competitor to the major established financial entities?
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