Why hasn't this happened yet? | Bitcointalksearch.org

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: Stephen Gornick on October 20, 2012, 08:08:43 PM

Quote from: MoonShadow on October 20, 2012, 07:16:23 PM

And finally, how do you know that some billionare hasn't been buying gobs of bitcoin?

Because billioinaires hate Bitcoin!

Don't assume this applies to all of them. I'm fairly confident that Peter Thiel would find bitcoin intriguing, since it is pretty much what he was trying to do when he founded Paypal.

EDIT: And it's fairly well established now that Steve Jobs hated government intrusion into his business.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: MoonShadow on October 20, 2012, 07:16:23 PM

And finally, how do you know that some billionare hasn't been buying gobs of bitcoin?

Because billioinaires hate Bitcoin!

Quote from: Stephen Gornick on October 04, 2012, 12:09:31 AM

Quote from: NASDAQEnema on March 30, 2012, 10:55:27 PM

Billionaires have billions because bankers can cheat. Bitcoins end cheating. QED. Cheating billionaires hate people having bitcoins.

It took me just fifteen minutes of listening to Bill Gates on Charlie Rose to confirm that billionaires don't and won't like BItcoin.

Mr. Gates throws around a lot of "we did this" type of statements, and what he really means is "we used our power to get governments to do this". I'm not saying the accomplishments were bad, but anything that lessen's a billionaire's influence will not be something the billionaires will support.

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: moni3z on October 20, 2012, 07:06:58 PM

Better question why hasn't anybody with 1 million + bitcoins started a commodity fund on the NYSE, TSX or other exchange. That's how gold and other commodities are traded and price determined. Would remove lot's of market manipulation if traded like every other commodity though then you'd be trusting wall street T Boone Pickens hacks to not screw us all over, but at least there would be transparency and some sort of regulation to prevent a big trader on Gox doing whatever they wanted

I'd seriously doubt that there is any single person that has 1 million+ bitcoins, and if there were, it'd be Satoshi. And I certainly don't see Satoshi having anything to do with the normal financial systems.

As for why hasn't some billionare bought up gobs of bitcoin with the intent of pumping & dumping? First off, pumping & dumping is illegal. Second, billionares tend to prefer their own reputations to remain as publicly clean as possible. And finally, how do you know that some billionare hasn't been buying gobs of bitcoin?

moni3z

hero member

Activity: 899

Merit: 1002

Better question why hasn't anybody with 1 million + bitcoins started a commodity fund on the NYSE, TSX or other exchange. That's how gold and other commodities are traded and price determined. Would remove lot's of market manipulation if traded like every other commodity though then you'd be trusting wall street T Boone Pickens hacks to not screw us all over, but at least there would be transparency and some sort of regulation to prevent a big trader on Gox doing whatever they wanted

repentance

hero member

Activity: 868

Merit: 1000

It's probably exactly what will happen if people persuade Kim Dotcom to accept Bitcoin. Be careful what you wish for people.

enquirer

sr. member

Activity: 306

Merit: 257

Quote from: BitLucky on October 20, 2012, 05:38:47 PM

The CEO of a well known company:

1) Buys a shit load of bitcoin.

2) Announces plans to accept bitcoin payments (or something similar). Bitcoin price subsequently rises (hype).

3) Sells a shit load of bitcoin.

4) Gets fired

5) goes to jail

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Just good business sense. Just good old vulture capitalism.

BitLucky

full member

Activity: 168

Merit: 100

The CEO of a well known company:

1) Buys a shit load of bitcoin.

2) Announces plans to accept bitcoin payments (or something similar). Bitcoin price subsequently rises (hype).

3) Sells a shit load of bitcoin.

Topic: Why hasn't this happened yet? (Read 1057 times)