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Question: Do you think Government are investing in bitcoin secretly?
Use - 33 (67.3%)
Or not - 16 (32.7%)
Total Voters: 49

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Author Topic: Bitcoin, governments  (Read 1258 times)
kimreds
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October 22, 2018, 04:35:24 AM
 #1

It would be silly for central banks to not be accumulating some Bitcoin just in case. They understand how money works..
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October 22, 2018, 05:01:57 AM
 #2

on a personal note, i do not think governments invest in bitcoins secretly because it's a decentralized peer to peer transaction with no central authority and also it can affect the country's fiscal policy, business and also help to facilitate crime rates.
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October 22, 2018, 05:06:45 AM
 #3

the central bank is very smart and they realize that crypto is difficult in the weir. they continue to call on the FUD on crypto to banning many countries, but behind this central bank hoard btc and crypto to catch up with our investment.
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October 22, 2018, 05:11:38 AM
 #4

In reference to the topic, central banks are not controlled by governments. And functions independently.

And yes they do understand how many works, and they are more than welcome to buy as every individual or organization is.
I don't quite understand what you mean by '...just in case'.
Maybe you are implying they are storing up just I'm case cryptocurrency suddenly explodes and becomes globally adopted. So they can have a certain degree of control.
There are already large investors, even individuals with tons of BTC.

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October 22, 2018, 08:53:29 AM
 #5

Possible.

As you can see in some banking establishments that are rumored and said getting involved in bitcoin that only means that they know how its going to generate them profit. But it doesn't matter if they are secretly investing or not, this is why everyone is free to buy bitcoin and start making his own portfolio an empire.

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digitalcryptocoin
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October 22, 2018, 09:02:55 AM
 #6

No chance.

Never government will show interest in Bitcoin, even never government will allow crypto for day to day use.

But still government cannot ban it as some group of people can have rights to use such technology for transactions.

Rather I would like to say that, governments are trying and testing blockchain technology for implementation to offer more transparent and secure business environment to new startup businesses.
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October 22, 2018, 09:06:44 AM
 #7

I agree that if central banks will not be quiet about the development of bitcoin and crypto, some of them have started adopting blcochain for initial trials, I have heard that many banks have invested their assets in ripple and this is a big improvement

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clonely
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October 22, 2018, 09:08:59 AM
 #8

It would be silly for central banks to not be accumulating some Bitcoin just in case. They understand how money works..

Some countries may be doing it. In fact, we can also evaluate it as a wise investment. If you see the future, it's worth investing.

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October 22, 2018, 09:10:25 AM
 #9

governments cant do such things secretly.there are financial audits. its only possible for dictatorships, emirates etc.so the answer is if there is a healhty inspect mechanism, its impossible.

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October 22, 2018, 09:32:19 AM
 #10

What do you mean by government?

I think there is news about how private politicians are investing millions in Bitcoin. If they manage to achieve legalization of cryptocurrency, then their capital will increase significantly
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October 22, 2018, 09:47:10 AM
 #11

A government is a body of individuals that makes and enforce laws within a particular jurisdiction,when you talk of government purchasing bitcoins do you mean individual members of the cabinet or the body itself putting heads together to secretly buy bitcoins..

The latter obviously doesn't make sense,but definitely individuals are free to purchase as much bitcoins as you want, be you the president or Prime Minister et al,its all down to how much bitcoins you can afford
The Central Bank is a body that handle financial activities within the shores of a particular nation,i do not see the Central Bank of any nation secretly purchasing a well known threat to fiat currencies
 

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October 22, 2018, 02:55:12 PM
 #12

A government is a body of individuals that makes and enforce laws within a particular jurisdiction,when you talk of government purchasing bitcoins do you mean individual members of the cabinet or the body itself putting heads together to secretly buy bitcoins..

The latter obviously doesn't make sense,but definitely individuals are free to purchase as much bitcoins as you want, be you the president or Prime Minister et al,its all down to how much bitcoins you can afford
The Central Bank is a body that handle financial activities within the shores of a particular nation,i do not see the Central Bank of any nation secretly purchasing a well known threat to fiat currencies

To know that people, even in power, still has their own right to purchase assets and partake in personal investments as long as there are no conflict of interest happening between their duties and their investments. There are some government officials who are open to such, and have never been discreet about their bitcoin/crypto investments. After all, they are still human beings wanting to expand their assets and wealth by investing properly, and we shouldn't deny them that nor look at them with judging eyes due to their involvement with crypto.




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October 22, 2018, 02:59:54 PM
 #13

I do not think there is. Bitcoin is decentralized and decentralized, it will be traded without the control of the government. That is why it will be difficult for the government to accept Bitcoin.
However, now it seems that the government will test the blockchain technology. This will make the country grow and not be left behind as technology is playing a very important role in daily life.

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October 22, 2018, 03:21:34 PM
 #14

on a personal note, i do not think governments invest in bitcoins secretly because it's a decentralized peer to peer transaction with no central authority and also it can affect the country's fiscal policy, business and also help to facilitate crime rates.

I agree with you on this. The blockchain is transparent and can be viewed publicly. It would be a stupid decision to secretly store btc. They can't afford such mistake it will create chaos not only to the business sector but as well to the whole economy.

What do you mean by government?

I think there is news about how private politicians are investing millions in Bitcoin. If they manage to achieve legalization of cryptocurrency, then their capital will increase significantly

I guess some are doing it individually but not collectively as a government body. For it is against the laws. I bet there are lots of politicians taking advantage of the volatility of bitcoin.

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October 22, 2018, 03:24:30 PM
 #15

Everything would happen in this case, we can't know that for sure. But i believe that the goverments and the banks has plans about the bitcoin and cryptocurrency and they never tell their plans to anyone. But also i am sure that it will come out soon because they need to change lots of think before they loose. If don't change, the cryptos will swallow them..
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October 22, 2018, 03:30:13 PM
 #16

It would be silly for central banks to not be accumulating some Bitcoin just in case. They understand how money works..
Note: the government and banks actually know that Bitcoin can benefit them when transactions at the bank,
Only in this problem are many considerations between pros and cons, this is the problem with Bitcoin, you know.
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October 22, 2018, 04:40:46 PM
 #17

I don't think governments will keep any invest in BTC for the moment, as I see in news, US authorities regularly auctions seized ceyto and cash out in fiat.
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October 22, 2018, 06:17:22 PM
 #18

The obvious problem for big government or institutions is the custody issue regarding Bitcoin.
Who is going to have custody?

We saw how the criminals at the FBI had problems with custody of the Ross Ulbricht bitcoin.
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October 22, 2018, 06:25:33 PM
 #19

Different government have different agenda with bitcoin. Some of them have an good relationship with bitcoin where as some government ban bitcoin. Country like china, Bangladesh etc ban bitcoin in their country due to multiple reasons according to them the decentralised currency bitcoin affects their country economy by affecting their share market and national bank. According to some government cryptocurrency report, bitcoin help to increase illegal activities in their country by its untraceable money transaction facility.
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October 22, 2018, 06:39:15 PM
 #20

Governments don't need to concern themselves with acquiring bitcoin. They need to create their own forms of virtual currencies.
I hope that blockchain technology starts giving us people better options to govern ourselves than the systems we currently have in place.
Then we won't have to be so busy concerning ourselves with what governments are doing
and then governments can really start to serve the people.

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