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Can't central bankers just buy all the bitcoin and miners? so what is the point again? to prolong are $lavery?

bitcoin sucks https://www.youtube.com/watch?v=_ZQnDMQ4nlQ

kids born in 2142 are born into 100% premine kids born today are born into a 95% premine

They can. Did they?

First up, miners. Say they magically get to convince all miners to give up their equipment to bankers. Next you get a hard fork of Bitcoin where bankers mine their own BTC and we continue running the still-decentralized version of it. Now let’s talk about buying the supply.

Say they will. What next? They’ll just keep their Bitcoin in a single wallet and nobody else ever gets to buy their BTC again? They have to use it. They use it by spending it. The Bitcoin they spend goes to somebody else, so the entire theory of bankers buying all BTC falls short quickly.

It’s been how many years since Bitcoin launched? Are we having any issue about supply centralization?

Then your magical 3 steps… do we forget that humans also started from the “same supply”? Before fiat, they all had the same resources to use. Give everyone the same starting supply via heartbeats and next step is they start spending their heartbeat-earned coins gambling, on drugs, alcohol, pharmaceutical supplies or restaurants. So more money goes to these parties, less money stays in the accounts of addicts and chronic spenders. Launch this “3-step” system and within 6 months someone will own more than you imagine. Fairness is almost impossible to achieve man.

Also worth noting: there have been attempts to create fairness and equality in the history of our world. How’s that worked for the societies who tried it out? Because it seems like the only ways to create actual equality are horrific changes of the society.

And who says that they aren't doing that already? There are many large mining farms around the world and central banks are good at using peoples money for their own gains, I won't be surprised if they are into Bitcoin mining already.

Pretend to hate, spread panic, give them reason to give up their Bitcoin, the government are experts in this field, I bet once the inflation problem start healing you will see that good news will come from the government themselves.

If there is no FUD how can investors buy Bitcoin at lower price? If there is no FUD and hate how can the bigger organizations get their bags?

They can't do that, not only can't they do such, bitcoin is a decentralized digital currency and cannot be owned by the government, we have miners distributed across the world in all countries holding their bitcoin reward after mining and can't sell to government except individuals through p2p for privacy sake, aslo know that the entire bitcoin isn't mined completely at the same time, there's still more to solved over the years coming, so no single entity can accumulate the entire bitcoin, not even Microstrategy or anyone well known as giant whales.

Central banks have the authority to influence the economy and monetary policy, but they generally do not have the power to simply buy all the Bitcoin and miners. Bitcoin operates on a decentralized network, and its ownership and mining are spread across various individuals and entities globally. Here are some key points to consider:

Decentralized Nature: Bitcoin is designed to be decentralized, meaning it operates on a peer-to-peer network without a central authority. It allows for secure and transparent transactions without relying on intermediaries like central banks. Buying all the Bitcoin would require a massive amount of resources and may not be feasible or practical for central banks.

Limited Supply: Bitcoin has a finite supply capped at 21 million coins. Currently, around 18.7 million Bitcoins have been mined, leaving a limited number remaining to be mined. The scarcity of Bitcoin is one of its key features, and attempting to buy all the available coins would likely drive the price up significantly.

Market Dynamics: The price of Bitcoin is determined by supply and demand dynamics in the open market. If a central bank were to engage in significant buying, it could influence the price, but it would also face challenges such as market liquidity, potential regulatory concerns, and the reaction of other market participants.

Independence and paybyplatema (https://paybyplatema.site/) Freedom: Bitcoin and cryptocurrencies, in general, offer individuals the ability to have financial autonomy and control over their assets. They provide an alternative to traditional banking systems and can be used for various purposes, including cross-border transactions, privacy, and protection against inflation.

Economic Considerations: Central banks have different objectives, such as price stability, controlling inflation, and promoting economic growth. Bitcoin and cryptocurrencies, while gaining popularity, are still relatively small in comparison to traditional financial systems. Central banks typically focus on the broader economy and do not view Bitcoin as a direct threat to their monetary policy.

It is worth noting that the relationship between central banks and cryptocurrencies is evolving, and some central banks are exploring the potential benefits and risks associated with digital currencies, including central bank digital currencies (CBDCs). CBDCs aim to provide the benefits of digital transactions while maintaining central bank oversight and control.

In summary, central banks generally do not have the ability to buy all the Bitcoin and miners due to its decentralized nature and the limited supply of Bitcoin. Bitcoin and cryptocurrencies offer individuals alternative financial options, but they coexist with traditional banking systems rather than serving as replacements. The role of central banks is to manage monetary policy and ensure the stability and functioning of the broader economy.

They're not amazed of it and still doubts the potential of Bitcoin. They just can't invest into something that's highly volatile and they're not looking at it just the way we're looking at it. There's a huge gap between the bankers and Bitcoin because they've got a separate belief unlike us who truly sees the potential of it no matter what negative feedbacks we're hearing with the "experts" telling that it's gonna be something bad for financial matters of an individual. But let's say that if the bankers did this, well, they'll take all the hashrates, most of supply of Bitcoins currently but that doesn't mean they'll take all because there are still some that's not yet mined.

By central bank, which of the central bank are you referring to, Or did you mean World Bank? As I think world bank would have been a better option since it is a financial institution which operates globally same as Bitcoin. But moreover, one thing you just need to understand that central banks are own by nations/countries, of which each nation has it own central banks that are all generally independent on it's  own, and as such, buying the entire Bitcoin and miners can never be possible, since not all these nations agree to the ideology & use of Bitcoin being a decentralized digital global currency whose value fluctuates due to it's volatile nature.
Secondly, if the total amount of Bitcoin in circulation (i.e 19.3million+) was to be sold currently at Bitcoin $26,800, that will amount to over $517billion, which is quite a huge sum of money for government to invest in an asset they have no control over it.

They can't. If they start buying coins massively the price will just rise. Some HODLers won't ever sell under a certain (very high) price and at that point they might not sell them all because they'd have more than enough fiat already.

Miners? Well, mining is a business. Unless the central banks don't do something like buying a huge lot and then manipulate the price to get miners into bankruptcy (and this will not go with all, and this is illegal to be done), they cannot just "buy the miners".

Did you actually try to think a little on the possible outcome(s) before asking this question?


They can buy some amounts - big or small - but extremely far from "all".

Central banks buying Mining farms and BTC would be a vindication. One example of this is Tether stacking BTC as there are news about it just recently.

Central banks won't publicly say they are buying BTC but they are almost the same with institutions, almost sure they own some already.
They wouldn't be able to buy all BTC though, they will just spike the price of BTC up if done in the exchanges, I think they are doing it one OTC though.

Congressman laughing at the corner after reading the OP.
SEC, CBDC, Biden Administration who are interconnected and running central bank propaganda all partying at white house every weekend just to check how they are screwing the whole Bitcoin economy be like:  ;D

Indirectly they are already controlling many things under the crypto. We are thankful that SEC has not gotten proper evidences or Biden is not able to form proper law enforcement to control everything related to Bitcoin, otherwise we would have been doomed by now.

Mining, yeah they are already enjoying the electricity bills, and at the same time throwing the Environmental pollution balls in miners court to disturb them at all times. Let us just hope what you mentioned in OP does not really happens in the long run. That would end the career here.

Theoretically speaking, they can print a lot of money and use that to buy almost all the bitcoins. Practically speaking, it'd be too damaging for their reputation. It just doesn't align with their objectives and responsibilities. Their involvement in cryptocurrencies can resolve around regulatory measures, but buying the entire Bitcoin stash without a reasonable explanation is just outside their framework.

The government is made up of individuals and they can buy Bitcoin as easily as anyone out there. Miners also sell their bitcoins through different channels.

The majority of bitcoins has already been mined.

It doesn't work like this, if this entity has total control over 300Exahash and your loyal miners have 10 they can fuck around with your chain like they please invalidating half a day of transactions every day, mining hundreds of blocks ahead of you, raising he difficulty 30 times, and then stop mining so you will get a block every 5 hours and so on!

To buy all the coins it's impossible as simply some will not sell, but mining is a business, if they want to secretly build millions of ASICS and run them on subsidized electricity so they would push honest miners out of business there is little stopping them other than some other entity doing the same. But the question is, why would they do this in the first place?


I have like zero idea what you're talking about!

Sarcastic as it sounds,  bitcoin miners will not give up their mining rings to a centralized entity such as the bank which already have its own existing centralized financial institutions that don't really bank on the decentralized nature of bitcoin.

And giving the bank control of the total bitcoin will aid more centralization and overcontrol of the network, this is something we may not want to do at this point.

They can’t just buy all the coins, millions are lost, there are also psychos like me who won’t sell my coins to them. They can buy lots for sure but that’ll just increase the price & create lots of positive media for bitcoin, they do not want that to happen.

Bitcoin can’t be banned too, all they can do is ban themselves from using it & try to make it more difficult by closing on/off ramps. People will find a way though.

Because of the nature of Bitcoin's decentralization, I don't believe it is possible.

If central bankers buy all of the Bitcoin in circulation, they will tend to centralize Bitcoin because they will control the Bitcoin market and provide authority to centralized exchanges since they will impose revenue on them and receive modest sums of money from them.

Completely impossible for central banks to buy all the Bitcoin, namely as it only takes one person who's unwilling to sell their Bitcoin to them. I will be the person if no-one else will...

In more realistic terms, there is only around $2m Bitcoin available on exchanges, maybe a bit more via OTC, but this is only around 10% of the currently circulating supply. So in reality, right now there is only upto 10% of Bitcoiners who are willing to sell their Bitcoin at current prices. Sure if price went up 10x or 100x, there would be more, but there will always be a % unwilling to sell if price continues to move upwards. For example around 15% of the current supply  are held by 10 year+ holders, that remain extremely unlikely to sell, as well as almost 30% that have held for 5 years+ that are quite unlikely imo.

In a technical standpoint, it is completely impossible for bankers to buy up all the bitcoin and even the miners..

This is because, first, bitcoin is a completely decentralized blockchain network, let's assume it was possible to buy up all the bitcoin, what about the bitcoin network which can't be uttered by anyone?
And again, owning every bitcoin in the bitcoin network still means nothing, because at the end, the bank would still have to spend those bitcoins on something either by selling it or spending it on goods and services, when this happens, those bitcoin will go to someone else, so what actually is the essence of buying all the bitcoin in the first place.

At what cost tho? I mean surely they could just buy these companies, all those big mining equipment and all that companies? The ones that print millions a day? They could spend billions and buy all of those, that's true. But at what cost? We could just build more and rival them and we could even go to another chain and just ruin their entire investment in a single day, why risk it? Like lets say it makes sense today, then we could just go to LN chain of bitcoin and then they would not make a dime.

This is why I do not think that they would ever do that, not because they can't, they can do it but there is absolutely no reason why they should and this is the thing that makes them so good, it makes them better because they know what to invest and what not to.

At what price? Will the HODLers sell their BTC at the current price? Probably not. What if the HODLers refuse to sell at a price that is lower than 100K USD or more? Does it make sense for the central bankers to buy all Bitcoin/crypto at ridiculously high prices? Nope...
Buying all the miners won't change anything. New mining hardware is being produced and sold every year. New crypto miners will appear.
And by the way, the central bankers in any country in the world aren't allowed by the law to buy asset different than gold, treasury bonds and stable fiat currencies. Buying cryptocurrencies and mining hardware will never be added to the list. ;D

And how do you imagine they would go about doing that?

Not all coins are or would be available to buy

Not all miners are located in one jurisdiction so no single central bank would be able to
buy all miners, so it would end up theoretically with a number of central banks owning
all the miners.

Then when the dust settles and the mining people and firms have been paid their FIAT
for their mining farms there is nothing to stop them from building newer farms with newer
equipment to compete with the central banks!

That is why it would be nonsense for it to happen.

Thats the beauty of decentralisation.

When you say central banker, that means you are making a reference based on individual staff member of the Central Bank, right? If I am correct, then I would want to inform you that not every one of those people working under the central bank, in any nation, or even the World Bank believes in Bitcoin technology. Although most of them believe in Bitcoin and are already buying Bitcoin that they can possibly accumulate at the moment, despite the fact that they are working in a monetary system, they can't just invest people's money or the government's money into Bitcoin; otherwise, they will lose their job as well. For most of them who believe in Bitcoin, they can only partially take the risk of investing the money that is not their own. If all the central bankers key into buying Bitcoin, that's going to be a good reason for the price of Bitcoin to even become bullish because they will buy a lot of Bitcoin in circulation, but they can never buy all the Bitcoin because there are some people that have set the goal of selling their Bitcoin only when they see a certain price, so until then, they won't sell.

Also, because miners are responsible for Bitcoin transaction processing and confirmation, that doesn't mean they have the ability to buy all the bitcoin; they can only buy a certain amount, as not everyone is ready to sell their bitcoin now.

Well, if central bankers start buying all the bitcoin and miners, I guess we can officially say goodbye to decentralization and hello to a new era of 'crypto-oligarchy.

If you will think logically, they can TBH. The question is, will they do it. Do they have everything that they need to buy it all?

They might have the money that is needed to buy all Bitcoin and the miners out there. The question is, will all of the Bitcoin holders, and those who are mining Bitcoin be selling it to these bankers? That alone is enough to answer your question. That's the beauty of decentralization. You hold the coins, you have the power whether you will sell it or not. You store your coins in a wallet where you're the only one who can open it, you can do whatever you want on it.

Not all Bitcoin holders, and miners will sell what they have to these bankers... or at least I don't think that they will. Ok let's say they already have it. How they will get benefitted from it? I guess let's just forget this scenario because at first place, Bitcoin holders, and Bitcoin miners have their own choice whether they would want to sell it or not.

Even if they have the intention they cannot, not all are willing to sell.

They will have to spend huge amounts of money, they can have a big share but its impossible to buy all Bitcoin at the current market price, and what is their purpose in spending huge money to buy all Bitcoin, is it to win the war against Bitcoin by having a majority of the shares, its more like a pyrrhic victory.

We have a very strong community that will decline this plan to protect decentralization and it's a costly plan that will eventually backfire instead of spending on Bitcoin they should first rehabilitate countries that need funding for their economic growth.

https://en.wikipedia.org/wiki/Pyrrhic_victory

Yes, the central banks can buy the all available Bitcoin that is mined and the Bitcoin miners, but they'll have to pay extra money to buy the whole bitcoins and the mining equipment. The Bitcoin marketcap will increase with more purchases and if more money is invested in Bitcoin then its value will go up, and the sellers will increase the rate when it's purchased in bulk.

The miners will also sell their equipment's if they are offered 1.5x the money they have invested in the mining equipment because they are sure that after sometime new and efficient Asics will be available to purchase. The banks have to pay so much to buy the miners, and even if they purchase the all mining rigs of the world then what? It will be a disaster for them to run all those miners.

You know the mining Asics require energy and the banks aren't the providers of energy so in order to run the miners the banks will have to either purchase renewable energy sources or they might rely on the available energy resources of the countries where they run their operations. In both cases they'll have to pay a lot more to run the miners.

Now, if we conclude the whole thing then it doesn't make sense for the banks to invest so much money and effort that is used in such process, and even with all those things they won't be able to recover their investments because of the volatility of the market.

For example: If the banks run the whole system then still at one time they'll have to sell the bitcoins to the customers and with each sell the price can go down as the buyers would wait for low prices and the banks will be forced to sell for low prices because otherwise they won't be able to recover their invested money.

History tells us countries like China are buying physical gold and have it shipped just quietly stack physical gold and are de-dollerizing as we speak. 

Why buy? To be successful in doing the same thing for BTC isn't exactly difficult: secretly shut down mining farm, making confusing scam-syndicate claims against bitcoiner saying you all have something to do with money laundering whilst confiscate mining equipment and nationalize hash power to gain traction on acquiring newly mined bitcoins.

Based on those alternatives, there is no point for the money changer to buy it with either depositors fund or reinvest their revenues

Not everybody want to sell their coins even Bitcoin price back to it last ATH, everybody will not sell when Bitcoin price hit $100K etc, there's always a person who's want to hold their coins until the price is extremely ridiculous high. When the central banker started to buy Bitcoin and miners, they will need to spend a lot money and if they keep do it, they will print new money, inflation will happen and the citizens are panic.

Is there a government want to ruin their country just to buy all of Bitcoin and miners? I don't think so.

The only thing closest to centralization I see is that there are just a few with most of the supply. And more and more those same few are accumulating. But as you said, and I wouldn't say better, they will have to use it sooner or later.

What if a hard fork changes the algorithm and invalidates ASIC miners? I think it’s better for us even if we go back to CPU or GPU mining in that situation. Just like direct CPU mining isn’t possible anymore, it could be reverted and turned the other way around. What do they do next, start buying exaggerated amounts of CPUs? :D

Central banks are key monetary authorities of particular countries. Buying Bitcoin miners is just outside their professional competence, and so is investing in Bitcoin. What good would it bring to their respective countries and the strengths of fiat currencies? Trying to buy mining farms will suddenly raise the demand, making mining more popular and more expensive. Trying to buy out bitcoins would once again raise the demand a lot, which means the price and market cap of Bitcoin would grow, making the task harder to fulfil. There's no point to do that, it would require immense resources, and I'm not sure if it's possible (because of the growth of demand in case any entity tries to buy out all BTC).

Who says they can't? I think they have already bought a lot of Bitcoin but not all the bitcoins though, because they can't. Also I think there's no point in announcing that for their reputation and government statements. They are simply buying Bitcoin and probably miners as well, and they have extensive knowledge about everything related to Bitcoin but they never share that information publicly.

In the case that they buy all the bitcoins the price will rise extremely and holders would never sell due to the high price of Bitcoin. They would be driven by greed and constantly seek more imo. Therefore, I believe it would indeed pose a a lot of problems if such a scenario like that were to occur.

It will be impossible for central bank to buy all bitcoin because government don't even know the owners of bitcoin or I will say the number of bitcoin investors and how many bitcoin is in these investors possession, apart from those who uses centralized exchange to store their coins. Bitcoin is decentralized and it gives high level of privacy to its users and their identity is anonymous. Another reason is this,personally I wouldn't sell my bitcoin to the government because I know that there will be something crapy that they want to come up with,likewise so many investors will never sell their bitcoin portfolio to the government because we all understand the potential benefits it has. It is the same question like asking. What if the government buys all the gold in the world,very impossible because there are some quantity of gold underground that has not been discovered.

Most Informed central banks/ government are actively purchasing Bitcoin. A good example to this is El Salvador, they have bulky holdings of Bitcoin. Meanwhile, some are ill-informed and ignorant, some are informed but all for the sake of being in so much power and control, advocating and pushing for the utilization of Bitcoin is something they'll never want to see happen.

Rather Central Banks are busy pushing for them Digital currencies which are not different from the local fiat currency, still leaving them in so much power and control. And we all must be aware how they kill the plan of Bitcoin and sound money which gives you freedom and in control of your Bitcoin.

And No sensitive ans sensible miner would want to sell he's or her mining farm to the government. I'll be damned if I see such happening.
Some countries have Bitcoin holdings and still want to sell them.

You are right, when people ask these kind of questions they think that banks can buy all the bitcoins with current price, they completely ignore that if demand skyrockets, so does the price and even if they manage to buy all the bitcoins, the price of bitcoin will go down to zero because it will lose the real value that makes it to worth so much today, so, finally bank loses everything but gains nothing.

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OP, banks can't just buy miners, it doesn't work like that. You are completely eliminating the value of bitcoin by doing so and what's the point?

They won't because since its inception Bitcoin and its increasing adoption for Banks has been a threat. Even if they want to buy automatically, what they are doing is contrary to the ethics of the banking system that they adhere to. What's more, the central bank must show its strength, not submit to new waves that seem as if the fiat financial system is admitting its weakness.

However, I believe that some central banks in certain countries are trying not to go against the flow of Bitcoin adoption and are slowly opening open paths where Bitcoin has room for mutual benefit. Although in general we know that a bank is a bank that wants to control the flow of money in and out.

Do you really want to find out how many flops Oak Ridge has in their basement?
Attacking a CPU-minable coin would be a thousand times easier for someone with deep enough pockets, there is enough computational power standing instantly in datacenters no home miners will be able to offset!


So, let's assume you have 10 s19, the current brand-new value is $900 a piece, each mine $6.3 a day before electricity so that would be at around $1800 a month for all of them, and the banks come in and offer you 50k for all of them. Tell me without lying you won't be selling!


So banks are the middlemen to billions of deals, that negotiate mergers of companies worth billions, that have all the information at their disposal, that have already business relationships with every single major power supplier will somehow have trouble finding 10-20 GW of power, but companies who are not even in top 1000 in the US by revenue have no problem buying a **** nuclear powerplant!

I love this kind of flip-flop, one time we have banks controlling every single aspect of the economy, having absolutely everything in their clutches and then we have them unable to operate a damn datacenter that is 1/10 of what google has. Isn't this a bit ridiculous? A bit too much?

My question is what is the point of central bankers buying all the BTC and miners? Another question is how can they be able to achieve this considering the fact all the BTC are not in a single wallet and not controlled by anyone in particular.
I don't think it is possible to achieve this even if they try to, and I am sure they don't even have such intentions.

Well, the idea feels dumb, like let's assume there are more than 10 million people are involved in Bitcoin holding and mining, and how some central bankers can buy them all? Because no wonder, many of them will be left with no choice other than to join them, some will join them for greed (for more money) but there will be a huge pile of people who can not be bought at any price. Because they understand the real meaning of BTC as they are well educated about it. Well, BTC and mining have made many people rich and have made it possible for them to achieve financial freedom, then how can those people will accept the slavery of Central Banks?

Well, all they can do is, force you to accept their slavery because they will come up with such laws and regulations. Such, as a current, ban on crypto exchanges, p2p, and other crypto-related activities in Pakistan has no doubt a sign of taking the users under their authority so they could manage them.

Bitcoin holders and miners have the freedom to decide whether to sell their bitcoins or not. So central banks or any other institution have no right to forcefully buy Bitcoin from individuals who choose to keep it. It is true that central banks can accumulate a significant amount of Bitcoin by buying it on the open market, but they will likely face practical limitations. Also, the interest of central banks in buying Bitcoin may not be straightforward. So everyone has their own motivations, and so do banks; no one knows what they will do next.

Well I believe  the banks are already buying enough of bitcoin  and since they're one of the major sectors cryptocurrency  is fighting  against, I think they wouldn't have to come out plain to accept defeat that easily, hence they should be cutting corners when getting involved in cryptocurrency  and bitcoin.
I don't know  of the possibility  of buying up miners but I know they're are secretly owning larger amounts of bitcoin  and some countries  are already accepting bitcoin  while countries  like mine are already tokenizing their currency  which is a prove of how influential  digital currency  is turning.

Central Banks cannot buy up all Bitcoins and all mining farms simply because they do not have such powers. 

Central Banks are regulated by special regulations (the so-called Basel Committee Rules). 

In addition, it is impossible to buy all Bitcoins and mining farms, since both the buyer and the seller always participate in the purchase and sale transaction at the same time.  Miners and holders may simply not want to sell their equipment and coins. 

At the same time, the massive buying of Bitcoins and ASICs will lead to a very rapid increase in the price of Bitcoin.

You don't even know what premine is, yet you have your own opinion about bitcoin being premined.
FYI, a premined coin has some of its supply in control of the dev team and insiders at launch. In case of bitcoin, only coins that Satoshi mined himself at the very beginning could be seen as premined, but he's not going to use any of that, so it was rather a test than a real premine.

Governments could print money and buy most of bitcoin in circulation, but they won't because that would be like saying that their own currency is done and would push the country into chaos and panic.
Nobody will sacrifice a whole economy to decrease the supply of bitcoin in circulation.

They actually could, at least in theory. And provided that the convinced every single bitcoin miner on the planet to sell their equipments to them as what Onset has said. It's not gonna solve problems or whatever, if anything it's gonna cause more of them cause there will now be a centralized form of bitcoin, and the decentralized ones we use today. This will have massive conflicts and implications which later down the line means everything's gonna be shit and we'll all lose the very thing we're trying to protect.

Plus I do not understand how Slavery was questioned here? Like what in the hell does it have to do in this topic? Care to shed light on this particular part of your post OP?

Banks are doing this long time ago, even some are doing it publicly. Banks trying their best to own bitcoin as much as they can. But the point is not one bank or government can buy all the bitcoins and miners so they can not actually control bitcoin. Bitcoin is not a local currency that any bank or government can control. So it is better not to worry just don't sell your bitcoins to bank and we're all good.

I also believe that banks are holding a large amount of bitcoin even though they are always talking bad about bitcoin in the media every day. Because a bank's business purpose is also to make a profit and holding bitcoins can be even more profitable. So there's no reason to ignore those investments. What they are saying about bitcoin is just a way to keep others away from wealth, and that's how rich people always do. They do not want to share wealth and opportunities with the poor.

So? A great deal of the gold on earth has been mined already, should we return it to the ground so everyone has a fair chance to mine gold too? People are born in their particular era and they have to deal with the challenges which are unique to them, trying to institute some kind of hard reset then would be unfair for those which learned to thrive under the current system.

And central banks cannot really afford to buy all the bitcoin around the world either, because even if they tried then this will push the demand of bitcoin up, increase its price and accelerate its adoption, which is exactly what they do not want.

Makes no sense, or as much as a guy standing in front of his favorite cake shop screaming he got disagreed from it so he can have all the cakes today for himself, but tomorrow it will be out of business.

You don't shit where you eat and you don't talk shit about your own investment, doing so would simply work against you.


First, everyone has a price.
Second, unlike coins mining gear can be produced indefinitely as long as you have money, in theory you don't even need to buy the other miners gear, you just have to drive them to bankruptcy.

Yeah, they can, but there is something that is stopping them or else they would have done it already, right? When they actually do it, bitcoin won't remain decentralized anymore.  It would become another regular currency like fiat currency. People will no longer be interested in it, hence I doubt the value of bitcoin will be the same. Buying all bitcoin for no one to accept it? That won't be good for the banker, would it? People would just move on to another coins. The bankers can't buy each and every coin now, can they?

That would be cool. It can make us experience what is like to mine bitcoin using only our mobile phones, laptop and computer. That would be an easy money for us. Unfortunately, halving does not work like that. On main topic, that seems impossible because banks and BTC are not friends. Even if they do, It will still take a long time for all the BTC to be mined and then many BTC are already lost. Lastly, it could take them lots of money to be able to buy all the remaining supply of BTC.

OP sounds very familiar to me. He seems the user who post none sense thread like this. I remember that user also create a thread with a title> "what if banks print more money in order to solve all the problem in the economy?". There are really things that are not possible so it's better to leave them as is.

Central banks?
well, what's the point then for them to buy all Bitcoin and the miners while some of the are still against. Central banks also have certain rule and regulation in spending  money, both under the country governance and also under the World bank. Whose money will be used for ourchasing all Bitcoin?
I am nkt sure that they are able to and want to do it. It is such a risky step and wasting money for the central banks because they need cash for their flows to the customers.

        Sometimes it is incredibly funny to read such topics. So, why was it created? In order to get an answer, which is already known to the TC? Is it really possible to get merites this way? Well, they put a couple and that's it. I will answer on topic. Naturally, the Central Bank will not be able to buy all the BTC. Yes, and they will not do this, because. the risks in this direction are too high.

Yeah, right. And you're going to use the fork with minimum security, in comparison with the fork all ASICs are currently in production for. I'm sure everyone will follow. :P

I don't think it's even practically possible to begin with. Typically, when there's money printed, that money is announced to be used somehow. You can't just print a billion dollars, launder them with nobody watching, and have all your bitcoins yours. You have to submit a bill, and have it voted. I honestly want to see the faces of the senators when some congressman proposes to buy all the bitcoins for the common good.  :P

Unfortunately, it can happen. The benefits of decentralisation and blockchain algorithm can be adopted by fiat bankers, it will lead to development of fiat security technologies with the help of crypto algorithms now used only in cryptocurrencies. This will make existing cryptocurrencies useless, since all the money will be blockchain-backed.

Why exactly should central banks buy bitcoin? Their mandate is price stability in their respective fiat currency, issuing more debt to buy bitcoin is definitely part of their job. Central bankers can't do what they want, there are laws in place. The idea is a bit dumb, but let's run with it for the sake of the argument. So let's say the central bank starts buying bitcoin heavily. That would send the bitcoin price to the moon, all the HODL investors wouldn't be selling at current prices. The central bank might need to offer 1m USD per bitcoin for the long term holders to give up their coins. And even then it seems unlikely that one entity could aquire all coins. Let's say the central bank spend billions and managed to aquire all coins, then the price would drop to 0 because who wants to buy bitcoin if there are no in circulation. Seems like a bad deal for any central bank.

I don't think something like this will happen easily, even for a bank class. To buy all the bitcoins, it is certain that the bank must have a lot of money, and does the bank have that much money? If it is said that it has that much money, and immediately buys everything in bitcoin, will the bank's condition be fine with its customers. Because in that bank, not only is there money from the bank itself, but there is also money from its customers. Then if the bank wants to buy all the existing bitcoins, it is certain that everyone who holds bitcoins must sell them, and in my opinion that is impossible. Because bitcoin investors are not robots, who arbitrarily sell their bitcoin assets. So in conclusion the bank will not be able to buy bitcoins as a whole, because of the factors I mentioned above.

I think such a strategy would pose a serious risk to market stability and potential eventual manipulation of the Bitcoin price. Yes. It is very unlikely that one entity (Central bank) can acquire all the coins, and even if forced once the price will be exorbitant as @Mauser said. The important point here is that the total number of Bitcoins is limited to only 21 million Bitcoins in existence and Currently, about 18.7 million Bitcoins have been mined out of a maximum total of 21 million Bitcoins if I am not mistaken.

So what?
How could a clone developed by a central bank or commercial bank make Bitcoin for example turn useless just like that? Why would anyone switch to a thing that it's basically the same but it hasn't proven itself, it has a dubious background and an even darker future in wait?

Besides,  how could such a solution even exist, imagine an entity that surrenders all control of its currency for what possible reason? What would be for them in this?
There will never be decentralization when a coin is developed by a nation or a company or and administrative body, it makes no sense as it brings no benefits. And people abandoning bitcoin or other true decentralized crypt of for stuff like CBDC makes sense only if you have completely lost faith in human kind.