[maxerickson]

You are saying you don't think government manipulation would have negative (long term) impacts. That's a separate thing from the government not being able to play games with the currency.

Part of the reason I said 'a few billion' is that several governments can afford to spend that, no problem. If they think they are facing an existential threat (as you seem to believe), it is basically a certainty that they will try it.

[oleganza]

As a speculator the government is no better than any other speculator. It will compete on par (more cash is simply more risk). And big players trading bitcoin is a good reason for many more players to jump in this market. The governments are unique in their ability to apply guns. When guns are not used, it's no different from big investment firms playing on markets.