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Author Topic: Bitcoin buying by central banks  (Read 1103 times)
Hydrogen
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August 13, 2017, 05:02:21 PM
 #21

Major banks often carry trillions of dollars in derivatives exposure. Bitcoin may be too small to concern them.

The main difference between banks and bitcoin is, bitcoin is focused towards building long term value. Wheras banks & the finance sector tends to focus on short term gains along a path of least resistance. That could explain why bitcoin continues to grow as it builds value while other things crumble and devalue as short term gains are depleted.

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LeGaulois
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August 13, 2017, 05:10:32 PM
 #22

It would be too good to be true
They will definitely push it up to over 9000.
 Grin

The problem is IF central banks or govt. purchase Bitcoins it is surely not to sell it after. I hardly doubt they are going to buy Bitcoin and then sell to make a profit from it. They will just keep in in the vaults as a reserve. If the Bitcoins are not circulating then it is useless. When the govt's buy gold they don't sell it, they keep it in their reserve

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August 13, 2017, 05:30:30 PM
 #23

Does anyone know if btc market cap goes above 50 bln will the central banks be able to buy bitcoin. with only 21,000,000 coins available there could be a quick run up with people hoarding them,so how do they work that out. Just print money 24/7 and buy up all bitcoin.Cheers, JCBTC

At some point, I'm sure that banks, governments, and corporations will start buying Bitcoins. It would be a smart investment and it would help them have some control of this part of the economy.

And by control I mean they can manipulate the price by holding or selling large amounts just like they can with oil or gold. But when they start really buying, the price will rise.
I also think so, i am totally agree with your opinion .............if it would be established to be start a new era of bitcion and its user.

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August 13, 2017, 05:42:28 PM
 #24

With respect to their country they was prohibited the Bitcoins. That central banks are not buying the Bitcoins because it won't able to pay that amount of money at a time. Small amount of money is ok but huge amount of money means it's slightly difficult.so they are maintained that as a private. They are not allowed that kind of cryptocurrency.

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August 13, 2017, 05:46:17 PM
 #25

They cant do that. There will be war if they force it to happen.
That is one problem with fiat. You cant just create money if you want to or your own country will fall and might become the poorest country ever with a lot of money circulating.
There is always the legality of everything which bitcoin doesnt have that is why they are arresting random people which owns a lot of bitcoin.
They will just have to go with the flow or there will be world peace and they will all fight against bitcoin.  Grin

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August 13, 2017, 05:58:40 PM
 #26

I don't know if they are allowed to buy bitcoin or not but I am sure they wouldn't invest taxes onto bitcoin. They would still go with gold and dollar. Bitcoin was never central money then.

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August 13, 2017, 10:26:00 PM
 #27

Central banks philosophy and that of bitcoin are at cross function, when bitcoin does get fully mined what you have is a stiff supply to large demand which will drive price upward, the only value bitcoin would be a safe haven to store up value and a means of exchange to those who accept it. When bitcoin is fully accepted by the general public, it would be like gold the central banks of every nation if they decide will have to work out the legal framework and all hunt their share of the 21mln btc, the present holders would become billionaires and then the government would take over and control the price of bitcoin imho.

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August 14, 2017, 05:24:40 PM
 #28

I don't know if they are allowed to buy bitcoin or not but I am sure they wouldn't invest taxes onto bitcoin. They would still go with gold and dollar. Bitcoin was never central money then.

Exactly, this is not feasible else it would have been done by now, I guess the only practical means is for a single billionaire or a group of billionaires to decide to buy all bitcoins from the mass market and keep for themselves only.



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Rainbot
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August 14, 2017, 06:01:52 PM
 #29

Whether the central bank can buy bitcoin, I think it will require a long process to buy it. And Ripplepun held by some but not decentralized banks that do not hold the complete concept of its blockchain.

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