Buy Bitcoin before the banks and governments do

[BTCapsule]

"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.

Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts." - Satoshi Nakamoto

https://www.politico.com/newsletters/digital-future-daily/2022/11/22/harvard-paper-to-central-banks-buy-bitcoin-00070552

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[Yatsan]

Alike with the idea of centralization? that won't be as easy as that. If ever governments are about to buy Bitcoin, then they would be investors, which makes it impossible. Their only goal is to tax transactions which are more likely through third party wallets, apps, or even exchangers. Governments who'd buy cryptocurrencies will be in huge loss and the point of doing so is just weird. Unstable market value, decentralized nature; being untaxable if by direct transactions,; which are characteristics they won't like, I guess. To countries wherein cryptocurrencies are being widely used, they did not need doing such thing to adapt this technology.

[BTCapsule]

Alike with the idea of centralization? that won't be as easy as that. If ever governments are about to buy Bitcoin, then they would be investors, which makes it impossible. Their only goal is to tax transactions which are more likely through third party wallets, apps, or even exchangers. Governments who'd buy cryptocurrencies will be in huge loss and the point of doing so is just weird. Unstable market value, decentralized nature; being untaxable if by direct transactions,; which are characteristics they won't like, I guess. To countries wherein cryptocurrencies are being widely used, they did not need doing such thing to adapt this technology.

I think governments would buy Bitcoin for the same reasons they hoard gold. While they cannot control the network, they can manipulate the price if they buy massive amounts of Bitcoin and then sell it. While those of us who HODL and believe in Bitcoin as a means of freedom will be undeterred, it can cause panic and make a CBDC look appealing to those who don’t understand what Bitcoin really is.

[Z-tight]

Banks and governments buying BTC may never be a world wide thing, there may be some governments that would hoard BTC for their own reasons we may never know of, but that number will be very small and of little importance. Think of it, with the problem of inflation and other critical economic problems plaguing many nations, most of them living in poverty and can't provide anything for their citizens, buying BTC should almost be off the cards for them.

[drwhobox]

Alike with the idea of centralization? that won't be as easy as that. If ever governments are about to buy Bitcoin, then they would be investors, which makes it impossible. Their only goal is to tax transactions which are more likely through third party wallets, apps, or even exchangers. Governments who'd buy cryptocurrencies will be in huge loss and the point of doing so is just weird. Unstable market value, decentralized nature; being untaxable if by direct transactions,; which are characteristics they won't like, I guess. To countries wherein cryptocurrencies are being widely used, they did not need doing such thing to adapt this technology.

I think governments would buy Bitcoin for the same reasons they hoard gold. While they cannot control the network, they can manipulate the price if they buy massive amounts of Bitcoin and then sell it. While those of us who HODL and believe in Bitcoin as a means of freedom will be undeterred, it can cause panic and make a CBDC look appealing to those who don’t understand what Bitcoin really is.

That thing also in my mind that govt and banks only way to control bitcoin is to buy as much as they can. That is the only way to control by holding bitcoin.

[suzanne5223]

I don't know about the government but I believe some government officials and banks have already bought Bitcoin before now and don't tell me you're still among the set of people who still believe in the political game played by the government. In addition to that, Michael Saylor once make a tweet which I searched for half an hour but couldn't find he says " he went to a certain US bank some years ago if they can sell BTC to them and they said they don't do it but the same bank that said they don't do it now asking him if they ^{(MicroStrategy)} would like to buy BTC".

[2stout]

Banks and governments are already buying Bitcoin but not at a scale yet where people are squeezed out and unable to do so.  Chase and a few other banks allow clients to purchase/invest in Bitcoin and El Salvador has already made a few purchases.

[YUriy1991]

Yes, we are witnessing a similar trend to the early days of the internet. The point is that there is a lot of chatter about Bitcoin and its ability to fundamentally change the way we view money. This coupled with the huge amount of money pouring into Bitcoin startups speaks volumes about its future prospects.

[eightdots]

I think many countries and banks are constantly buying Bitcoin. Only El Salvador and a few big companies say so openly. Of course, they don't have to say this, but Bitcoin's future and goals are attracting many investors. Governments and banks are also investors for Bitcoin. I think the number of these investors is not small at all. Especially in bull periods, states that see the potential cannot remain indifferent to Bitcoin. I am aware that these investments can bring many problems. I know that the number of countries that can ignore Bitcoin today will decrease day by day.

[franky1]

ok lets give you guys some food for thought

ok lets imagine all citizens(households) bak balances totald $5trillion
(google stats of 122m households savings of 41k)

now imagine that %5trill is the amoutnincluding the super rich, whare as the 88% of households are low income with only a mean bank saving of $5.1k

i say thins becasue the FDIC insurance that protects bank account holders does not protect every penny. just an amount below a certain threshold.

so this mean amount of $5.1k would if it was expressed over all households only be $630bill that is most likely in a FDIC reserve(number on computer ready to generate should all banks go bust)

here is the thing. do not confuse commercial banks with government
commercial banks manage $5trill while the FDIC has a pledge to honour $6.26b to over majority of households

now here is the thing. if all banks did go bust.
and FDIC were to set up its own new nationalised bank for households to register with. and it sent out the FDIC cheques to everyone to then deposit into the "new bank"
the us economy of circulating money went from $5trill to 0.64trill.

this if you take a step back.. is the government having a deflationary token because if the economy has less supply. its deflationary where the coin to goods swap rate means people have to only share 0.6t instead of 5t. thus . the government already has their deflationary asset to hedge against the commercial banks fiat.

they dont need anything outside of their system

the reason why politicians decided not to pull the FDIC grenade in 2008 and instead do QE to increase money supply.. = more fiat to plough into banks while putting the debt of QE onto the treasury balance sheet (citizens tax burdens of the future)

is because by doing so would see a 88% drop in GDP meaning US loses its top spot as a economic super power.. and that politically is suicide

they dont want to use deflationary assets. as thats the way they shrink the GDP. inflation is what they like

[Die_empty]

Banks and governments buying BTC may never be a world wide thing, there may be some governments that would hoard BTC for their own reasons we may never know of, but that number will be very small and of little importance. Think of it, with the problem of inflation and other critical economic problems plaguing many nations, most of them living in poverty and can't provide anything for their citizens, buying BTC should almost be off the cards for them.

Currently most nations especially in developing nation are sustaining their economy by through borrowing. The global economic crisis have made most government to focus on how to run their nation and investing in cryptocurrencies would be a minor option. Also, the volatility of bitcoin would discourage most ignorant government from investing in bitcoin. Most government official have little or no knowledge about the operations and opportunities of bitcoin investment.

Another major challenge that would discourage most nations from investing in bitcoin in the developing world especially Africa is colonial influence. Most nations in Africa depend financially on the World Bank and their colonial masters. They must consult these financial institutions before they make any investment, failure to do that might lead to severe financial consequences. So most nations are scared that they might not access more loans or receive a loan payment adjustment. Countries like El Salvador and Central African Republic boldly adopted bitcoin regardless of the pressures and opposition of most global financial organization.

As long as they cannot control bitcoin, it would not be a bad idea if banks and government of nations invest in bitcoin. It would affect the price positively and it could also lead to massive adoption of bitcoin in those nations.     

[Piesel]

Will countries really buy Bitcoin at this time and condition, the answer is No: simply because the volatility c of the cryptocurrency market have made Bitcoin unattractive for government.

The highest any government will do right now is to tax cryptocurrency transaction within their country's, due to the global economics crisis a lot countries are looking for mean to raise revenue and instead of looking into investment their looking to borrow to service their recurrent expenditure.

Also Bitcoin is decentralized and at that most countries will see it as a threat to their economy since they can't control Bitcoin, because of that, the countries will rather develop their own CBDC which will be centralized and controlled by them.

[dezoel]

There is no way that they will buy bitcoin. We all know that banks and btc are not friends. They won't even allow their customers to interact with it but I just realized that there are some governments already who bought btc. El salvador for example. Okay, so we can add some exceptions but what happens when we are late to buy a btc? Do you think there will be some manipulations that will come?

But, manipulations are already been there even before though it wasn't heavy. There is no way manipulators can purchase all the remaining supply of btc as it can cost them a lot of money. Plus I don't think that many people will sell their btc's easily.

[South Park]

Alike with the idea of centralization? that won't be as easy as that. If ever governments are about to buy Bitcoin, then they would be investors, which makes it impossible. Their only goal is to tax transactions which are more likely through third party wallets, apps, or even exchangers. Governments who'd buy cryptocurrencies will be in huge loss and the point of doing so is just weird. Unstable market value, decentralized nature; being untaxable if by direct transactions,; which are characteristics they won't like, I guess. To countries wherein cryptocurrencies are being widely used, they did not need doing such thing to adapt this technology.

I think governments would buy Bitcoin for the same reasons they hoard gold. While they cannot control the network, they can manipulate the price if they buy massive amounts of Bitcoin and then sell it. While those of us who HODL and believe in Bitcoin as a means of freedom will be undeterred, it can cause panic and make a CBDC look appealing to those who don’t understand what Bitcoin really is.

Governments do not really need to buy bitcoin as they can always confiscate it as we have seen in the past, but instead of deciding to sell it as they did back then, or at least that is what we were told, they can just keep it, however the risk that you mention is real, they managed to control gold in this way and it is likely they may try to same tactic against bitcoin as well, however even if private investors hold most of the bitcoin in circulation once the governments decide to accumulate bitcoin through confiscation and taxes then at some point they will become major holders whether we like it or not.

[jossiel]

I think governments would buy Bitcoin for the same reasons they hoard gold. While they cannot control the network, they can manipulate the price if they buy massive amounts of Bitcoin and then sell it. While those of us who HODL and believe in Bitcoin as a means of freedom will be undeterred, it can cause panic and make a CBDC look appealing to those who don’t understand what Bitcoin really is.

In fact, there are governements that have been holding seized bitcoin. There's still a way for them to manipulate the market just as the whales do.

When they wholly stepped in to the bitcoin market, they'll just have to play by the book of supply and demand and that's it. You're right, they may not have the control to the network but for the market, they will have and they will be able.

[Dunamisx]

Immediately one have a taste to how sweet a decentralized network could be of importance to life in general then one will begin to make sure in avoid anything that has to do with central authorities, now to sum it up, it will not be as easy as expected when the time comes whereby the banks and government would have also supported bitcoin and buy it, adopt and even encourage others to invest and use bitcoin, but till then we wouldn't conclude on how feasible this could be now nit until governments begin to massively adopt bitcoin.

[The Cryptovator]

El Salvador's government is already accumulating one Bitcoin per day. Though it does not reflect the Bitcoin chart, if more governments do the same, Bitcoin will skyrocket. So I agree with the OP, we may accumulate when it's cheap. It would be difficult to accumulate when a few more governments and banks decided to accumulate.

[darkangel11]

Banks and governments are already buying Bitcoin but not at a scale yet where people are squeezed out and unable to do so.  Chase and a few other banks allow clients to purchase/invest in Bitcoin and El Salvador has already made a few purchases.

I think they aren't. They had some exposure in 2020 and 2021 but most institutions left the market when we crashed to 30k. I saw some analysis by glassnode early this year and they were showing that institutional outflow was in November 2021 and then again early 2022.
The rest of the crash were mostly scammers who used bitcoin like Do Kwon who dumped 2 billion on the market. I suspect some of the crash was also SBF who was selling coins people were depositing on his exchange to buy himself houses and bribe politicians.

IMO the attempt to destroy bitcoin through FTX was made so that the banks could go towards CBDCs instead of buying existing cryptocurrencies. They are playing their own game.

[2stout]

Banks and governments are already buying Bitcoin but not at a scale yet where people are squeezed out and unable to do so.  Chase and a few other banks allow clients to purchase/invest in Bitcoin and El Salvador has already made a few purchases.

I think they aren't. They had some exposure in 2020 and 2021 but most institutions left the market when we crashed to 30k. I saw some analysis by glassnode early this year and they were showing that institutional outflow was in November 2021 and then again early 2022.
The rest of the crash were mostly scammers who used bitcoin like Do Kwon who dumped 2 billion on the market. I suspect some of the crash was also SBF who was selling coins people were depositing on his exchange to buy himself houses and bribe politicians.

IMO the attempt to destroy bitcoin through FTX was made so that the banks could go towards CBDCs instead of buying existing cryptocurrencies. They are playing their own game.

I feel banks were going to cozy up to CBDCs whether crypto were to boom or bust.  As for we the people that are Bitcoiners, I don't see such a thing as we already know that CBDCs is nothing but fiat 2.0- dressed different but the same shit, i.e., inflationary, devalues over time, etc.

[minime0105]

Alike with the idea of centralization? that won't be as easy as that. If ever governments are about to buy Bitcoin, then they would be investors, which makes it impossible. Their only goal is to tax transactions which are more likely through third party wallets, apps, or even exchangers. Governments who'd buy cryptocurrencies will be in huge loss and the point of doing so is just weird. Unstable market value, decentralized nature; being untaxable if by direct transactions,; which are characteristics they won't like, I guess. To countries wherein cryptocurrencies are being widely used, they did not need doing such thing to adapt this technology.

I think governments would buy Bitcoin for the same reasons they hoard gold. While they cannot control the network, they can manipulate the price if they buy massive amounts of Bitcoin and then sell it. While those of us who HODL and believe in Bitcoin as a means of freedom will be undeterred, it can cause panic and make a CBDC look appealing to those who don’t understand what Bitcoin really is.

Government can't buy cryptocurrency and Bitcoin for investment or holding it for long time, the only people in the government can do is what you just said, because government dislike cryptocurrency because of  the heads of the government are thinking that while Bitcoin is like that, it's because of they thought over Bitcoin is that Bitcoin is a currency that will make fiat currency to be valueless,and that's why government is against Bitcoin totally.