It has also been a fallacy to think that, unlike the price of gold—which is underpinned by unverifiable reserves—the price of Bitcoin could not be manipulated.
That doesn’t matter; right now, in the ETF markets, market makers can create more contracts than there are actual assets backing them and redeem them without having to buy any Bitcoin—in other words, by creating ‘paper’ Bitcoin.
Replies (4)
Solution?
The solution?
It’s as simple as sitting back and waiting; no matter how much they manipulate the price or suppress it, you can’t escape reality.
Take the example of gold over the last 120 years, specifically since 1913 when the gold standard was abolished.
It’s another matter entirely if you have the patience to wait 20 years or more, as has often been the case with gold.
Yes, the term Financial Markets, is a complete oxymoron, because the reality is that they really have nothing at all to do with Finances or Markets. They have just descended into a complete corruption of predictions, manipulations and deceptions
That wasnt my claim, we are talking about an asset punishing governments. Gold hasnt punished governments and is the perfect asset for them because of the obfusication re: holdings, ownership, supply estimates etc.
Although Wall Street controls bitcoins price at the moment, in the long run it would punish governments if they adopted it because the fixed supply would expose their money printing scam - gold doesnt do that...
