It's complicated. Technically, you don't need to fake coins to suppress the price with financial instruments. Context: View quoted note → It is possible that there is an organized run on exchanges/ETFs/treasury companies and people move to self-custody because of a scare (a bank run of sorts). In other words, you're going to need the grassroots, ordinary people to organize a run on these institutions and self-custody. "Foreign opponent" posting proof of reserves is extremely unlikely because there aren't really any foreign opponents. Thinking that an "adversarial" government would want to pump the parallel, competing monetary system (Bitcoin) is not realistic. There are a thousand ways governments can impact each others economy and integrity but they don't because that's not how the world works. ALL governments (well there's really only 1 government) would fight to the death to preserve their monopoly on money issuance and violence. Bitcoin used as a MoE messes up their monopoly on money, so you can kind of connect the dots and follow the incentives. Context: View quoted note →