It Seems that Bitcoin Remains Unburdened By Hacks, Arrests, and CFTC Action
What could be the cause of such stability in BTC's value? Hacks had a strong impact on Bitcoin but now it seems that even arrests and CFTC action didn't affect BTC's value. Let me know your thoughts on this.
“One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin [btc] futures would have the impact of popping the bitcoin bubble. And it worked.”
Christopher Giancarlo, who left the U.S. Commodity Futures Trading Commission (CFTC) at the end of his five-year term as chairman in April, told CoinDesk in an interview:
“One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”
Reality check: The US Govt manipulated the market in late 2017/early 2018 using futures and derivatives to actively try to "pop the bubble" (and it worked). Why the hell would you want to destroy the market other than to throw more sand in the engine to try to stop it? Now, ask yourselves, who were the biggest proponents of all the futures markets, BAKKT, CME, CBOE, etc? That's right, you know who - Adam Back, Blockstream, etc. I mean he and others have practically been cheerleaders to this type of market manipulation coming to BTC/Bitcoin. Why the fuck would they want to do this? For some other salient points, watch the Bix Weir video on this topic: https://www.youtube.com/watch?v=Wl48ytkZhMA
Satoshi Nakamoto writes to the CFTC to defend his 1997 bitcoin system and blast the bastard Ethereum, with all the technical competence and clarity that we have come to expect from him. [Check the attached PDF]
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