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Discussion => Security => Topic started by: goblin on May 15, 2013, 08:23 pm

Title: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: goblin on May 15, 2013, 08:23 pm
The US gov, which last month in concert with other western central banks and some of the too big to fail banks, engineered a gold crash (which FAILED, by the way, thanks to those gorgeous Chinese and other Asian housewives), may be up to its old tricks again.

Witness MtGox's Dwolla account frozen by Dept of Homeland Security http://dkn255hz262ypmii.onion/index.php?topic=159700.0

If they can make Mt Gox close shop, it will instill a sense of doom to most uninitiated bitcoin customers, sparking massive sellofs.

I hope they fail again, but it looks like the US is in a panic mode. They do not want ANY competition to the old dirtbag whore US dollar, and they will stop at nothing to obtain their nefarious desires.

In a way, if Mt Gox does fail, this could be a blessing in disguise, as the other exchanges may strengthen and take the place of the mount, which was too powerful and influential. We need a whole lot of little exchanges, not one or two huge ones.

Let's see what Max Keiser says about this tomorrow; I am almost sure he and Stacy will address this in tomorrow's show.

Your thoughts.

goblin
Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: Veetano on May 15, 2013, 08:49 pm
Certain groups could be doing it.... but you also need to remember that people with lots of money can manipulate the market... if they can cause crashes  then they can also manipulate the market to their liking to profit.... so it could just be a wealthy individual manipulating the market to profit, and the result of these actions are the inevitable crashes.
Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: Baraka on May 15, 2013, 11:03 pm
Quote
In a way, if Mt Gox does fail, this could be a blessing in disguise, as the other exchanges may strengthen and take the place of the mount, which was too powerful and influential. We need a whole lot of little exchanges, not one or two huge ones.

+100
Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: Newbie83 on May 16, 2013, 12:06 am
looks like mtgox gets a ddos-attack again since 2 hours. atm the site is online, but the 'last price' and the weighted average are not updated.
wtf is going on? this is so sick... the actors behind the scenes maybe the governmentS but also at least one fucking hacker who wants to make profit with this weird shit.
this is the worst moment in my sr-history. can't buy urgently needed stuff because of this shit...
Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: jackofspades on May 16, 2013, 12:22 am
Yeah, it wouldn't surprise me at all, especially when Congress had that emergency meeting in March and a month later BTC crashed to 40 from 260...sketchy and there was never really an 'explanation' for that enormous crash. I love Keiser btw haven't watch him in a while but follow him on twitter and like his youtube stuff.

I have no idea what the user-base recourse would be. They couldn't open enough exchanges to bring BTC back up to the 200's and even if they could it would take months probably to break its all time. I hate Gox though and i do not use them for anything, i have an account there (i think) but haven't even logged on in a while.

A crash wouldn't really affect me personally, unless i spent all my fiat on BTC for SR then it crashed before i had a chance to make my purchase(s). A BTC crash might cause vendors to lose faith in it though because i wouldn't want to be the one selling something for 1btc when 1btc is worth 10% of what you acquired it for the next day.

Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: Newbie83 on May 16, 2013, 12:57 am
just wanted to share this with you. it's from a german bitcoin blog. atm i'm not motivated to translate it so i did it with the google translator. ^^
"It is now clear that Mt.Gox is accused of acting as a financial services without a license. When opening an account at Wells Fargo Kapeles Mark, the owner of Mt.Gox probably has explicitly stated not to make any money exchange shops. DHS refers the allegations in this case quite explicitly on trade with Bitcoin. This could therefore be a precedent regarding the legal classification of Bitcoin as money in the United States. You're right to be excited."
source: http://coinblog.de/archive/259
Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: Katnip999 on May 16, 2013, 12:00 pm
There are many people 'trying to engineer' many things but it is what is successfully achieved that matters more. Will the US gov crash bitcoins badly? If they could they would, they'd have done it by now wouldnt they, what are they waiting for? I think, but this is just a bit philosophical the bitcoin currency itself demonstrates they cant. It is a currency used by us all. Lets say the worse case scenario some how the US gov manage to totally crash bitcoins, the bitcoins are irellevant, currency is just the agreement between people. We all agree 1 bit coin is worth 1 bit coin, it cant be changed, if bit coins just vanished over night tomorrow we will all need some sort of tokens to use as currency, we can just make another currency which has equal value as the last and we could even still call them bit coins. Im waffling now but in short apart from the actual technical stuff of how the coding works which will need brains and effort Im not saying its a doddle but its an agreement we make between ourselves. Its just my opinion and its not a new idea but its like the genie is out of the bottle. They cant stop it. If they could they would. The US being the top economy in the world and the international currency they are the ones who loose the most with an unregulated international currency so they are the ones who must be most against it but why havnt they stopped us? Can only be they are unable to.

This currency is the only viable option for us to get out from under the control of bankers, heads of industry, heads of state. That whole idea that 1% of the population have 99% of the wealth and 99% of the population share 1% of the wealth or what ever the stats are can be changed, if more and more people start using bits it will mean those who own everything will lose value of it. If the 99% of people used only bits then the 1% of people will be left with all the pounds sterling, dollars in the world but it will be worthless because it cant be spent anywhere.

Now I'll contradict everything Ive just said and say surely they cant just let that happen. Theres no way is there? What ever happens some how they will manage to turn and twist it till every thing suits them.

I'd normally think I was being paranoid but those people at the top in charge are psychos and every country has them not just US. We will all very much miss 'the facist US gov' when the Chinese government takes over.
Title: Re: Is the fascist US gov trying to engineer a massive BTC crash?
Post by: PerPETualMOtion on May 16, 2013, 12:33 pm
Not "fascist" but Corporatist.

Get it right. The devil is in the details.