MaghrebGator
Kraken
- Joined
- Dec 19, 2023
- Posts
- 4,119
- Reputation
- 5,295
Bitcoin was partially created because of the manipulation of the currency supported by gold (Don't know how they say it in english) used by investement banks in the creation of the paper-gold system
Lots of people invested in gold but they weren’t really investing on it, they were actually investing on paper-gold (Sorry for my english), and that paper-gold is completely manipulated and it has been proven because every big investement bank has been convicted for manipulating gold. Now remember that bitcoin partly goes out at first because it is the digital alternative to this system.
If we create a descentrelized gold based digital system in which there isn't an authority, and in which the commissioner isn't controlled by any human being which would be in this case Blockchain, then in that case we could have a system almost perfect if that money didn't become into a financial asset. However if it becomes bitcoin-paper, it stops being money.
The Big Players like Blackrock, Vanguard, public influencial money owners, etc, play this game of first acting as if they reject Bitcoin, then they say "Well, maybe it's not that bad", and afterwards they make it become bitcoin-paper via an ETF (Exchange Traded Fund)
That implies that you have to buy the Bitcoins the market, however the one who buys the ETF doesn't have any Bitcoin because to have Bitcoin you need to possess the private key. What you buy is a financial assett that is tied to an underlying asset, and that underlying asset which is the Bitcoin has to be bought by the manager.
Now to the key of everything. Is there any incentives for Bitcoin to drop it's value right now??? Take into account that the managers have to buy for the ETFs... That's why so many said "Don't worry, when the ETFs are approved the Bitcoin prices will start to drop because the market will discount it"
A LIE i say. It's people who are manipulating the market that will discount it
And this is the true matter of the issue, there is no such thing as market, there only exists manipulation of the market.
It's true, in Bitcoin there is less manipulation because of it's own essence, but as much as it is still is a speculative asset it will never fulfill one of the most fundamental criteria for money: Money, apart from being an exchange means profoundly installed in society and accepted generally, it has to be a value reserve, that being: It retains purchasing power over time, allows to separate the moment of the formation of income from the moment of its use.
Bitcoin right now is not a value reserve. Now, the bitcoiner might answer by saying "B-b-but Dollar is also not a value reserve"
. Dollar is supported by the biggest army in human history and stands on an incredibly powerful structure, THIS IS THE REALITY! What can Bitcoin ever do against this??? How can it defend itself??? It is bound to fall in favour of any other currency that is supported by human power sooner or later.
PS: I admit i just translated from a economist i watch from time to time and only added the faces, but i found it interesting. I don't understand half of what i wrote.
Lots of people invested in gold but they weren’t really investing on it, they were actually investing on paper-gold (Sorry for my english), and that paper-gold is completely manipulated and it has been proven because every big investement bank has been convicted for manipulating gold. Now remember that bitcoin partly goes out at first because it is the digital alternative to this system.
If we create a descentrelized gold based digital system in which there isn't an authority, and in which the commissioner isn't controlled by any human being which would be in this case Blockchain, then in that case we could have a system almost perfect if that money didn't become into a financial asset. However if it becomes bitcoin-paper, it stops being money.
The Big Players like Blackrock, Vanguard, public influencial money owners, etc, play this game of first acting as if they reject Bitcoin, then they say "Well, maybe it's not that bad", and afterwards they make it become bitcoin-paper via an ETF (Exchange Traded Fund)
That implies that you have to buy the Bitcoins the market, however the one who buys the ETF doesn't have any Bitcoin because to have Bitcoin you need to possess the private key. What you buy is a financial assett that is tied to an underlying asset, and that underlying asset which is the Bitcoin has to be bought by the manager.
Now to the key of everything. Is there any incentives for Bitcoin to drop it's value right now??? Take into account that the managers have to buy for the ETFs... That's why so many said "Don't worry, when the ETFs are approved the Bitcoin prices will start to drop because the market will discount it"
A LIE i say. It's people who are manipulating the market that will discount it
And this is the true matter of the issue, there is no such thing as market, there only exists manipulation of the market.
It's true, in Bitcoin there is less manipulation because of it's own essence, but as much as it is still is a speculative asset it will never fulfill one of the most fundamental criteria for money: Money, apart from being an exchange means profoundly installed in society and accepted generally, it has to be a value reserve, that being: It retains purchasing power over time, allows to separate the moment of the formation of income from the moment of its use.
Bitcoin right now is not a value reserve. Now, the bitcoiner might answer by saying "B-b-but Dollar is also not a value reserve"
. Dollar is supported by the biggest army in human history and stands on an incredibly powerful structure, THIS IS THE REALITY! What can Bitcoin ever do against this??? How can it defend itself??? It is bound to fall in favour of any other currency that is supported by human power sooner or later.PS: I admit i just translated from a economist i watch from time to time and only added the faces, but i found it interesting. I don't understand half of what i wrote.
