What if Govt buys all bitcoins?

[demzie]

I would never let the government buy my bitcoins. So they could never get it.

Why not? If the price is right

[xeverse]

The discussion is interesting and deserves promoting to another subforum..

To me the question is eventually boils down to..

Does the corrupted govt system has the best people,
the most genius, the most visionary, the most advanced?

And the answer to me is not. They don't.
They has never had and won't ever have such people.
Because the best people can't stand and live in lie.
The best minds of this planet hate lie and hypocrisy.
On the contrary, based on my personal and hard earned experience,
i can say that ignorance is the very basis of any govt structure whatsoever.
The only concern of those with power is staying in power as long as possible.
That's their ultimate business in the universe, they strength and their flaw.

Luckily, the govt is the ultimate anti progressive force in the universe.
They resist any change or any new information with brute force and ban.
Being such they do not have either vision or best people or courage to do that.

[bitbytes]

If anyone owned more than 10% of money supply, the currency wouldn't function as currency.  If the gov't bought all bitcoin, someone would just start an alt chain in it's place.

[bonker]

If large Govts bought all available bitcoins in an effort to wreck BTC it would be a drop in the bucket for them. ( and the Fed would only need to print the $ to do it) They would also be in a position to manipulate the market.

Furthermore if they embarked on mining using their massive resources it would probably push ALL small miners out of business.

Therefore BTC can not be regarded as a serious threat to their currency monopoly, merely an interesting diversion for the powers that rule the markets

Large Govt, even largish corporations could squish bitcoin like an gnat. It's not a threat to anyone at the moment.

[Stevenrm87]

Or the gov could cause "accidents" to happen to the big farmers. ie drone attack asicminers farm

[Painful Truth]

If gov buys all coins, prices will explode to ∞ which is great.

I will sell them coins at the right price.

So i hope the gov buys all the coins...