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Old 03-25-2014, 07:49 AM  
Jel
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Quote:
Originally Posted by sobecash View Post
The only way for any government to have control over it is if they were able to do bitcoin mining themselves. But since no government, as yet, has any large amount bitcoin in their wallet, then they can't control the value like they do with government backed dollars, euros, yen, rinminbi, etc.
funnily enough the thought popped into my head earlier that it would be pretty easy and do-able for say the US gov't to just buy up every bitcoin on the market, and put a stop to bitcoin fairly quickly. Obv thy would be pushing the price up themselves, so it's not a case of paying that day's rate and buying all, but should btc ever really threaten as a currency, I can see them spending xbillion to take back control of people's spending ability etc.

Though that of course just means the next alt currency would present the same scenario, ad infinitum.

So much like the OP, this is a nothing post
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