Quote: (12-05-2017 10:39 AM)SamuelBRoberts Wrote:
Exaggerating for effect, but this should give you the general idea:
I'm goldman sachs.
I take out a short for BTC for a trillion dollars. A short means I sell it now and buy it later, as opposed to a normal purchase where I buy now and sell it later. So with a short, I make money if the price goes DOWN, not up.
I call up my buddies at the federal gov't and have coinbase, bittrex, and kraken shut down and their execs all arrested for violating securities laws.
The price of BTC goes down a lot due to panic. It goes from 10k to 1k.
I close my short.
I pocket 900 billion dollars.
More tinfoil hatting:
Bitcoin was/is a secret ploy to soak up massive amounts of wealth from the world which has been awash in QE investment dollars.
The/A government secretly takes a load of bitcoins from the largest exchanges, drives up the price, people exchange cash for bitcoin, exchanges are all closed, and the government soaks up massive amounts of wealth without having to use T-bills.