Do Banks Control Price Of Btc

pixabay

Banks do not control the price of bitcoin, they don't own a meaningful amount of bitcoin. Banks control the scarcity of fiat. If you price btc/usd, then yes they can manipulate the denominator to show whatever ratio they want. (but they are unable to specifically target bitcoin, everything will be impacted by their manipulation, and every asset will react differently based on the specifics of that industry. Which is where the coefficient idea comes in.) But if you and your business partners just denominate your value in btc, then the ratio of value you have exchanged with your business partners remains unaltered no matter what the fed does to the denominator. It arithmetically cancels out. Additionally, Bitcoin trades across all sorts of currency pairs so it de-facto absorbs value whenever any entity attempts to counterfeit money.
This denominator manipulation can screw you if you hold collateral with a counter-party that is going to liquidate you based on the manipulated spot price. The solution to this is to use a medium to denominate financial contracts that is immune from denominator manipulation. Perhaps something that has built in proof that every unit was fairly earned....

Digital assets are real assets in the same way that digital hdmi signals are as real as analog vga signals.
As far as apocalypse and needing a currency of last resort, yes. You may want a small stack of gold to flee to a friendly jurisdiction. Gold is more anonymous and censorship resistant than any blockchain. However, it will be a really expensive stack of gold when you do the math in a few years time and realize how much bitcoin you could have owned instead. I wouldn't build my whole portfolio around that contingency.

I was thinking about my coefficient of friction analogy from earlier today a bit more. I think I'm just describing open market pricing acting as a signal that indicates relative value. The fact that this is so foreign to how markets operate today just goes to show how the dollar has already failed but the plebs haven't noticed yet.