Bitcoin Forum

Today I read on local business news paper about Italian banking sector. It is about to crash thanks to overdue and non-currant loans that have not yet been written down from the balance sheets. It said that 20 % of the loans are defaulted but not written down from one certain bank.

Now bitcoin is very cheap, the  inflation is low. If one bank decides to start acquiring all the bitcoins it can get under 100 000 usd, it probably will get a nice chunk of coins for under 100 000 usd and then defending that rate. That can help their balance sheet enormously and save from the coming inevitable crisis.

Please share and make this message known to the bankers. Bitcoin is the financial Savior of the world.

It seems pointless to talk about 100,000 USD when these banks are billions of dollars in debt and possibly getting worse every day. Bitcoin can't save them, it is like moving the deckchairs around on the Titanic - the ship is still going to sink.

If they buy at this price and put in millions then the price increase would help them . If they do not do it and go under it will create panic and we might see more people rushing to buy btc so it will also increase btc value.

Very good observation!

I think many will sell on the way to 10 k so if they start defending 100 k the bankers will be able to acquire a huge number of coins that are worth 100 k each which helps their balance sheet.
Let's say they are able to get 1000 000 btc on the way to 100 000k. Their average cost per coin is 20 000 k which means they have spent 20 000 000 000 usd to get a stack that is worth 100 000 000 000.


That's the message I advice to people to preach to the bankers that are on the edge of insolvency.

These Italian banks are effectively dead. The Italian should establish bitcoin to be the main currency and bitcoin banks.

With the bitcoin, the Central Banks cannot print it. People have to work hard to get it. It is good for the social security.

lol.

Complete fucking idiocy on toast!

Gold bullion cannot be printed but still the central banks own it.
Bitcoin is similar but with lower storage costs.

Therefore, buying bitcoins and thus driving the price up, the Italian banks get valuable assets to their balance sheets.

Mathecat, what is the idiocy here?

a) No smart money pumps anything, unless they already got in big time at the bottom. There is a reason why big money doesn't pump already inflated assets, namely, those who did get in at the bottom start cashing out on their asses all the way up, leaving the pumpers relying upon 'greater fools' to maintain the price.

b) Bitcoin is not gold. All the gold on the Earth will still be here until the day the Sun goes supernova. If Bitcoin had either imploded, or were to become practically worthless within the next 5 years, it really would not surprise me.


But the real idiocy is the complete 'delusion of grandeur' of what Bitcoin is. You are just dreaming man, can't you see that? Don't let your fantasies start to influence your world outlook..........which leads me to:


c) if some endangered Italian bank started piling into Bitcoin, Bitcoin may spike, but the stock and bonds of the bank would plummet into the shitter, and the whole operation would be declared insolvent overnight.


a.k.a aint gonna fkn happen...get real.