Bitcoin and Government
Today I learned that one of the biggest owners of Bitcoin is our government here in the U.S. That leads this conspiracy theorist (armchair) to ask what would a government do that feels threatened by a "citizen's currency" like Bitcoin? Well, if you know that the currency is volatile, you buy up and cause a crash by suddenly selling everything with the intent of decreasing faith in Bitcoin and restoring faith in greenbacks. This kind of thinking keeps me away from buying Bitcoin. I also learned that the FBI had confiscated Bitcoins from someone allegedly engaged in illegal activities. Bitcoin is supposed to have privacy and security built into it. So, how did the FBI crack the account? Remember, unlike with traditional financial institutions, government has no one to go to to confiscate your funds. So, how did they get their hands on it? The how, ultimately, doesn't matter because government wouldn't be government if it didn't do whatever the heck it wanted...