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RE: China Central Bank Advisor: "Bitcoin As A Currency Could Collapse Entire Economies"
Translation
Economic collapse - Banks falling off their disintegrating pedestals
You watch. If the banks find way to monopolise cryptocurrency it will be the best thing ever invented, according to them.
Fantastic post.
I don't want to scare anyone but banks could easily just generate a ton of FIAT money and buy a ton of crypto then hodl it then sell it all in one shot scaring the living crap out of people then a ton of people will sell theirs creating a gigantic bearish wave down to hell
That would be great if they did. The price would go to the moon. And no reason for them to shuffle it back into constantly devaluing fiat currency to try and save the world banking cabal. So at worst you might have a big surge in bitcoin, then relative price stability as some kind of equilibrium is struck once the dollar, and thereby most of the rest of the worlds fiat money craps out.