Bitcoin Forum

When do you think that goverments and banks start buying BTC?

Do you think that this some day happen?

I am sure that it will happen very soon, bitcoin has been rising
so fast that its only the matter of time when it will happen.

governments don't have to buy it, they take it by force for any reason they like. take silk road as example.

Governments don't buy unless it's from their cronies.

They will come up with laws that allow them to steal your coins or use ones that already exist.

I expect some banks already hold small amounts. I know neo&bee do!

Imagine the rally if big banks started competitively buying up coin, as a kind of fallback collateral!  :D

Will happen in some form for sure

But not imminently

Bitcoins are extremely suited as collateral

I believe banks will start holding Bitcoin once they understand how profitable it is...

http://www.gldtalk.org/devteam/evolve.png

Yes. And the banks are already looking into the altcoin sector. We have been approached as have others.

Gold coins, yeah....

Stop promoting your shitty goldcoin all around this forum! >:(

Sure, why wouldn't they if Bitcoin becomes the main currency someday. It won't happen soon, but it's certainly possible.

banks are getting scared to death about bitcoin because it disrupt their entire business model by making them pretty much useless. Don't expect them to jump into bitcoin before they realise their collapse is getting imminent (when fiat will become nearly useless). Meanwhile, they will probably fight bitcoin as much as they can.

Banks can't do magic with Bitcoins, so the most they will do is make a trading platform like btc-e.com for people to do transaction. Other then that. No way...

This is a common misconception.

Banks are not scared of Bitcoin in the least as they have a say in the regulation of merchants. Basically, Banks = Government and Government = Banks. I can buy an item from my next-door neighbor and pay cash without any government intervention or taxation and with Bitcoin (for now) the same is true. By regulating merchants however, they can regulate Bitcoin (like cash) to a large degree.

As far as the evolution, Bitcoin is just the beginning. What we will see is a recognition first by consumers that alternatives exist, then a demand for these alternatives, then an integration of these alternatives into the existing Bitcoin merchant POS systems. Like Visa, Mastercard, and Discover, people will use different coin payment methods via a common POS device.

As this process evolves, capital will begin spilling over into the altcoin sector and a healthy competition will develop between currencies.

Banks are not afraid of BTC because in it's current form it is an economic joke that will never actually perform the function of money in an economy.  And even if it DID, it dose nothing to address the root cause of Banking wealth, interest on debt.  A debt in BTC will still carry interest, so a BTC bank would function no different then a Dollar bank.  To undermine banking you need to eliminate urury and interest at it's source which is the hardness of money.  BTC was designed to be harder then real gold and if you know ANY economic history you know banks LOVED GOLD MONEY because it generates interest.  If BTC or something as hard as BTC were our money Banks would be enriched to a staggering degree, but you folks don't really care about that because in your hearts YOU lust to be the very banking class you claim to despise.

It will, it won't happen any time soon.. not until at least 100 Million market cap..

Banks are getting scared because they loose the power of creating money (http://www.youtube.com/watch?v=iFDe5kUUyT0). This power is getting a lot of poeple going nuts and they won't accept loosing this power at all cost. You're being naive thinking otherwise. Make no mistakes, bitcoin will lead a war. Fortunatly bitcoin is much more powerful fundementally and will win in the long run.

You guys should read this http://www.telegraph.co.uk/finance/comment/liamhalligan/10438565/Dont-laugh-Bitcoin-is-making-a-serious-point.html
It gives a good insight of how banks look at bitcoin.

Well the FBI already got a head start on that....I cant remember how much they got after the seizure.  Maybe that will be the best way for governments to collect BTC.  Shutting down illegal websites and hijacking their wallets.  Modern robbery style!

Better still, freeze all the banking account for people that have any dealing with BTC and they now have both BTC and more fiat :)

Yeah, this is what they are doing... FBI is good business...

They already are buying them secretly.... thats the reason why the price has went up so much..

Bitcoin don't have any regulation or government to control it.. So no, never until there is some regulation...

who knows, maybe some banks already invested some money in ASICS

I think they will try to get rid of it

 ;D

I don't think banks will do that cause its dangerous if anything caught fire...

I think a lot of people here are overestimating bitcoin a LOT... It's still very far from being considered a serious currency. I'd be very surprised if banks invested in such a high risk currency as bitcoin.

Also, why would governments want to own bitcoins? It's nearly impossible to tax people as bitcoin is anonymous. I see bitcoin more like an easy to trade version of gold.

Which is why I wuv bitcoin so much. You were missing a key word in that quote above. The word is 'try'.
The government can have my bitcoins when they pry them from my cold dead hands solve the P=NP problem.

You realize that most people here love bitcoin only because they hate banks , right ? :D

and that day came :D

What do you mean?

U.S. senate accepted the BTC so others will :D very quickly

I consider myself REALLY optimistic about Bitcoin, but I think we are pretty far from Banks and Goverments actually buying BTC themselves.

I think they are buying them secretly