Lighten up. This is a CONSPIRACY thread.
That means any marginally plausible posts are to be expected. Sheesh, some of you actually believe posters are truly pushing substantive ideas. [We're not, btw]
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Now, as I was saying: The "satoshi" name was a brilliant misdirection which some appear to be falling for wholesale. Same goes for the other misdirections.
Why would Treasury or the Fed do it? Because there is no other way to pull all those trillions out of the system without blowing up the global economy. The dollar (and all fiat) boat has been sinking since 1913 when a dollar was actually a dollar. Today's dollar will buy what $.03 would have bought in 1913. This is not new news; and there are plenty of smart people who have known for quite some time that propping up the global economy by printing (globally) $100-200 billion per month is unsustainable.
Creating an entirely new government-neutral currency is a brilliant way out for any country wanting a way out of the fiat farce. It's actually the USD that will benefit most (or is adversely affected the least) because as the current dominant reserve currency, when all the others go tits up, people will still be converting BTC to/from the USD.
wow this is a good idea at least i think... i have heard that the FED will haveto somehow "extract" the additional money (it printed) from the system... So your idea is that it has made bitcoin and when theres enough money in it, they will crash it somehow, thus "destroying" the money they wanted to destory. Did i get it right? (im not, thats why im asking). Thats quite a brilliant idea!
But i think its not true, because even when it sounds possible, dont forget that the money which "is" in bitcoin wont get destroyed, it will just get transfered from the last buyer of bitcoin to the last seller... Thats all. The money still exist, it just changed hands. The only waya how to really destroy is, when the last seller of bitcoin (thus the person receivng majority of the cash) would be the FED or GOV, this means that they would have to hold the appropriate ammount on BTC. Which would have to be huge...
Its an interesting idea, maybe i didnt fully understood it, how did you meant it please in detail?
Yes, you misunderstood. What I am suggesting is that Treasury and the Fed realize the USD is doomed if the status quo continues. So, they reached out to the crypto-minds over at the NSA to serruptitiously release XBT in 2009. The objective being to blow up the status quo and REPLACE it with XBT.
As the price of XBT rises and gains acceptance, the masses will voluntarily exchange their trillions of USD and other fiat for XBT. The end game would be XBT as the global, anti-hegemonic, deflationary standard currency with the USD being the sole surviving fiat along with it; AND minus the over-supply of USD which exists today.
Yeah ok, i get it now, i have thought about this in some thread here also...
But there are few things that play against this conspiracy theory... Few of them:
1) When gov. has the ability to print money "out of air" then is gives it a huge advantage, why give it up (because you cant do it with bitcoin)... Why should gov. give it up with BTC?
2) Wouldnt mass adoption of BTC (at least in western world) quite destroy the hole idea of banks and their fractional reserve banking mechanism...? There is a rumour that banks control a lot of whats going on, would they really be in favour of something that might kill them?
3) Smaller one: If BTC was designed really this way from the begging to allow a mass adoption, would it be more likely they would make a bigger cap than just 21 milinon coins...? Because paying for something with 0,0001 BTC on a daily basis just doesnt seem very handy or usefull.
What do you think about thes issues?
1.) Money is made "out of thin air", there's a whole process involved in harvesting the raw materials, manufacturing them, putting them together, and transporting all of that to the Central Banks. This gives people jobs.
2.) Banks don't control anything, the free market does, banks simply try to curb certain mechanisms so things don't spiral out of control. You can't control how 6 Billion people are going to spend their capital. You can only "try" to maintain an even balance.
3.) And I agree. 21 million coin cap is ludicrously low. If just 21 million people used bitcoin, the value would be so low that you would be dealing in fractions of a whole coin. And people tend not to like purchasing things with more then 2 decimal places. Even if the value of 1btc reaches to $100,000USD, then if someone wanted to buy a toothbrush with btc, they would have to spend .000001 btc, no one wants to deal with such ridiculous fractions for everyday purchases
