Good looking cat! I have a black cat also, they have such personality.
I've been watching the bitcoin thing for a while now to see what the fuss was all about. It will be interesting to watch how the crypto currency market develops over time. I'm wondering if various governments are going to eventually try to take it over. The crypto system could affect the central banks and their control of the wealth of the planet, and they're not going to give up without a fight.
Thanks, I am not a cat man but Spooky has ESP or something so I let him become family. So far as I have found the government or governance is not capable nor will ever be able to get to any of it because of the blockchain. Transactions are transparent but getting to anyone's accounts I guess is impossible. Yes and there will be no need for banks. I bet the banks are freaking out. The banks might just fade away like main street of America did when Walmart took over. That would be fine with me.
What I would worry about is the big banks buying up as much bitcoin or other cryptos as they could over time, and then selling big chunks at one time in an effort to crash the value. I don't think they can control the market by buying and holding, I think China tried something like that last winter and it didn't work.
If the banks buy up large sums they would drive the price to the moon wouldn't they, for a time anyway.
True enough. But if they sold off big chunks of it at a time, that could drive the price way down. At least, that's my understanding of it, but I could be wrong.
Well you do have a point there. I guess the speculation and all makes it more interesting.
It does indeed. :-)