Bitcoin Forum

What would happen if all the big banks bought all the bitcoin?

This is fundamentally impossible for numerous technical and logical reasons. I'll name a few of them.
The primary one is that many Bitcoins have been lost, they belong to addresses whose private keys are not known to anyone and thus cannot be restored.
Secondly, not all Bitcoins are for sale. I hold Bitcoin and they're mine, no big bank (or anyone else) can have them. It's fundamentally impossible, it's not feasible. They can't buy them.

I have often wondered if they will become the whales.

It is quite possible scenario, but who knows maybe banks already buy some bitocins. For sure banks could buy majority of coins (because rest will be not for sale currently). Then for sure price of bitcoin will rise but not only. It would be a sign for crypto world that crytpo currency will be important part in the current payment system. So not only one coin(bitcoin)will grow but majority.

If that was the case then Bitcoin would be considered centralized, no better than fiat. I don't think people would believe in Bitcoin anymore and would abandon it. However that's an unlikely case because it's an open source technology, many people securely store their coins, and lots of coins have been lost for many reasons.

I don't think it's possible. But if it happens, bitcoin future will be controlled by them.

It would either be the end of cryptocurrencies as we know them, or a well timed hardfork may  effectively wrestle control away from banks. Maybe Ethereum would rise up and takes its place. No one knows, but it is the very definition of the worst case scenario.

They do not support bitcoin at all so is impossible for it to happen, from the other side banks will have theyr own coin in the future, because bitcoin is the future in 2p2 transactions.

The bank always hate and  want ban  bitcoin  ,the bank and governments  always control crytocurrenty  .
 
if all the big banks bought all the bitcoin , the price bitcoin is $100,000 . of course bitcoin will become crytocurrenty  of world .

We'd all be filthy rich.  Seriously though even in that scenario, there would be plenty of people who would not sell all their bitcoin -- just enough to make them filthy rich but not all.

It can't be, that lead to partially centralized and it is prone to malicious network attack like DDoS and might lost some of it, big banks are not so interested about bitcoin as its is a big threat to them but what they interested the most is the blockchain technology that makes the bitcoin more secure it is the newest innovation of cybersecurity, e-commerce, digital economics and in also in banking and finance industry. Blockchain is the new internet-of-things trends sensation as popularized by a pseudo-named Satoshi Nakamoto .Bitcoin was the raison d’etre of the blockchain as it was originally conceived. It’s now recognized to be only the first of many potential applications of the technology. Blockchain today is the most valuable application than the Bitcoin. Some big banks are now developing blockhain for their business specific transactions and applications.

No bank is going to be as dumb as to try to do that, if all the banks of the world wanted to buy bitcoin at the same time the price of bitcoin will skyrocket, it will reach prices above 100k and maybe even higher so every single bitcoin is going to become progressive expensive and even if they print money to get them that will only create inflation, and even if they were successful that will kill demand since no one will be able to afford bitcoin that expensive and they will end as bagholders.

We already have something that simulates that scenario, it's called fiat.

I think that would be great! The price of Bitcoin certainly exceeded 100 thousand dollars! But I think this is just a dream for now. Because the banks are working with Ripple, Bitcoin's enemy and his dirty copy.

If they interested at first they will give some interesting on it but what they always do is they accept the transaction but not the bitcoin i dont think so that this could be that bank will owned some bitcoin its possible for them to own but impossible to make some interest on it.

This is basically doomsday scenarion which will never happen. First we have lots of forgotten & lost coins in great portions which will never be saved. And second its too expensive to buy all coins to kill it.

What if I would not sell my bitcoin? It is impossible and would be beneficial as the price will be too high and not good for banks.

then the banks don't own all the bitcoin and as long as you don't sell your bitcoin, you can keep it in your wallet. but i think its impossible for the banks to buy all of bitcoin because it will need huge money and bitcoin price now is too expensive although the banks can buy with all of their money but the banks will make the economy in danger and in the end, the economy will risk for the country too. and the government won't make the country a risk situations for  and will give warning to the banks.

Most of the bitcoin eatly adapters still holding bitcoin they are not going to sell and even
People not selling bitcoin directly to some person they are using different wallet to sell bitcoin. Banks can’t show proper audits based on their bitcoin holdings.so it’s not possible to hold all bitcoin by banks.

I guess bitcoin will die if this happens. The nature of BTC is decentralisation of mining (this point is not implemented now due to China miners) and usage. There are always whales but they are everywhere not just BTC.

BTC would die if the banks would own all coins. No one could use it and no one could hold them. The coins would be totally worthless.

What a kid's question? That is impossible for sure. There are so many reasons why. I can tell you one of them - there are a lot of bitcoin holders and they just don't want to sell bitcoins not to government, not to anyone else.
A lot of people wants to hold their bitcoins and expecially not sell it to government.

Well, he's just saying "If" despite the chance of bitcoin getting owned by the big banks which really low but there's still a chance, he's just asking how if all the big banks own bitcoin.

if from my opinion, bitcoin will remain decentralized, its system nature which is blockchain is designed to be decentralized at the start, none of us can rule and can't force to take people's money, just the big banks owning big portion of bitcoin and could possibly manipulate the market.

Then what happens is bitcoin market monopoly. Where bigbanks will have full control over price bitcoin also circulations. This could be a global economic disaster.

If they own it all they would destroy the market, but will it be profitable for them to own all and loose so much money or make it so rare that the price will rise, good question

Then the banks will be using it between themselves I guess, because they own all of it. And there will be little reason to buy it from them.

Then there would be nothing to see here and we would switch to another crypto currency that they did not control.

Interesting but improbable in the world today.

There would have to be a population reduction to 1 person.

Then that person would have to own the bank!! LOL

i think this will not happen, i know many people plan to hold btc for a very long term, how will they sell their btc to banks as they are not lack of money, unless they became the banks

They wont do such thing.If they would buy all bitcoin and the community doesn't able to make use of it then its pointless.It would easily die since there no circulation happening on it and besides its an impossible thing to happen to accumulate all supply knowing that theres only limited and not totally mined for now.They can be possibly be a whale but not totally could able to control all over it.

Technically it is impossible because if all the supply goes to Big banks, it would back to centralized again as they will be the major holder

If and really if they hold, guess everything will be same as the current Fiat situation except notes will be limited and not reissue-able :)

If all big banks owned all btc then there wouldn't be any need for the people to purchase Bitcoin from them. Someone can just make their own cryptocurrency at that point.