I don't like the idea of governments holding millions of Bitcoins.

[Apocollapse]

Currently the US government hold 200K Bitcoin which is around 1% of total supply.

I also don't like the idea about these whales, institutions or countries that purchase and hold a lot of Bitcoin. People only care with the price that keep increasing, it's all fun until these institutions or countries start to freeze the customers' coins and tightening their rules.

Not just governments but any centralized entity should not own a large amount of bitcoin which includes all these "investment companies" that have been growing like mushrooms.

Someone said they just holding customers' coins, they didn't own all the coins.

The point is it doesn't matter whether they hold or bought the coins, as long as they have access to the coins, technically they own the coins.

[Reatim]

Some Bitcoiners seem to be enthusiastic about plans by politicians to buy or hold big amounts of Bitcoin as part of a "strategic reserve".

A huge part of it is bitcoiners thinking that politicians or governments wanting to own bitcoin is a testament of support. It gives off hope that they will be able to hold and use bitcoin without the government questioning them.

It also gives off hope that exchanges previously banned from their countries can operate once again. I understand both sides as I still believe that bitcoin is and should remain decentralized while acknowledging that the government still has some semblance of control over how we use our bitcoins.

[Blitzboy]

Governments such as the US stockpiling Bitcoin? Not just disturbing, but also quite dangerous. Sure, in the short term, it might pump up the price, and some folks might make a quick buck. Long term, though, it is a catastrophe just waiting to happen. These governments have printing capability for their own money. They may play games with the market, utilise it for their own goals; they do not need to sell Bitcoin. It might change Bitcoin from their toy from the open, distributed system it is supposed to be into

The bitcoin community must get more active. We have to defend the things we created. This is a point to show what Bitcoin is actually able to do. This is an opportunity to guarantee that it remains faithful to its original intent: that of a currency for the people, not a weapon for the powerful. We refuse to allow them steer Bitcoin or take over it

[Lucius]

~snip~

Not only do I not like that idea, for me it would be something that would be the beginning of the end of BTC as we have it today. People who advocate such things are not worried about Bitcoin in the long term, because they are only interested in the price and some kind of legitimacy that Bitcoin should get in this way.

Strategic reserves in the form of BTC in any millions are as stupid as Do Kwon's idea to get his shitcoin back with BTC, and when the price of BTC goes down that tower of playing cards collapses in an instant.

Unfortunately, we as ordinary users cannot influence the final outcome, now everything is in the hands of the politicians who will play the way that suits them best - and whoever wins in that circus of democracy, let's not fool ourselves that it will be good for Bitcoin.

[bitLeap]

I don't think Bitcoin would "die" in such a scenario, but I think it could lose a lot of value and confidence. And the scenario is not that unlikely to be ignored.

What do you think? I added a poll also with an intermediate scenario like the one announced by Trump, which would lead to a couple of hundred thousands of BTC hold by states, but not millions.

And that will only make Bitcoin under their control, then the goal of freedom that Satoshi wanted will disappear. Countries that seem friendly to Bitcoin should be suspicious, there's nothing wrong with that because this is about the freedom that we have always guarded and maintained. Therefore, I do not agree with the idea of ​​the government holding millions of Bitcoin. This will destroy us, Bitcoin and erase the vision and mission of the creator of Bitcoin.
This topic really needs to be continuously raised because currently many people are drowning in the sweet promises of politicians who are everywhere in the media highlighting the future of Bitcoin, especially in the US. It does sound good, but if we look at it from another perspective, how unpleasant the policy is in the long term.

[arwin100]

Currently the US government hold 200K Bitcoin which is around 1% of total supply.

I also don't like the idea about these whales, institutions or countries that purchase and hold a lot of Bitcoin. People only care with the price that keep increasing, it's all fun until these institutions or countries start to freeze the customers' coins and tightening their rules.

Huge number of supply which has been acquired again by institutions.

But if they don't purchase huge volume I also don't think that we could reach this far since if we really on community demands maybe its not enough to pump bitcoin up to the current price or maybe for more.

What I don't like on what they have done is possible manipulation attempt especially if they decide to move the market on their dumping antics. Since for sure this action could affect the decisions of some people especially they think that huge institutions or country are big contributors for acquiring huge demand for bitcoin.

[Minor Miner]

Currently the US government hold 200K Bitcoin which is around 1% of total supply.

I also don't like the idea about these whales, institutions or countries that purchase and hold a lot of Bitcoin. People only care with the price that keep increasing, it's all fun until these institutions or countries start to freeze the customers' coins and tightening their rules.

Huge number of supply which has been acquired again by institutions.

But if they don't purchase huge volume I also don't think that we could reach this far since if we really on community demands maybe its not enough to pump bitcoin up to the current price or maybe for more.

What I don't like on what they have done is possible manipulation attempt especially if they decide to move the market on their dumping antics. Since for sure this action could affect the decisions of some people especially they think that huge institutions or country are big contributors for acquiring huge demand for bitcoin.

As I have said many times before, if we want bitcoin to become popular and legally recognized, we will have to pay a price and the price we have to pay is their regulations and control. Likewise, without the participation of governments and large institutions, bitcoin would not have reached the price it has today because retail investors like us would not have been able to do this. 

It can be said that when large organizations enter the market, there are pros and cons. Also, more importantly, they don't care what we think and we have no way of stopping them from buying and holding bitcoin. Besides the solution that needs to be adapted, we hardly have a second solution.

[mirakal]

I don't think this would be that bad as it looks because if the govenmments decide to hold bitcoins the it means govenmments will support the markets and the amount of money or capital on the markets will have a huge increment. So, if we see the govs trying to do it then we should buy cryptos and ride the way because the bump should be huge.

Well, I hope that would be their intention (support), not manipulation. Honestly, I don't have that kind of confidence in trusting the government to have that huge amount of bitcoin with just a simple and easy plan (support). It could possibly be something else, which most of us assume will happen once they have it in their hands. 

If we feel there is manipulation already in the market, how much more when government officials hold a huge share of bitcoin? Maybe, we will never feel the impact by now, but it can be felt in the coming days. 

We are not aiming to see bitcoin in a centralized state but instead in a decentralized one. 
 

[Z-tight]

OFAC already does that. They have a list of "sanctioned" addresses that they are forcing the American miners to "censor".

And are the mining pools blacklisting these sanctioned addresses? I don't think so. The last time i read about a mining pool filtering addresses and their tx's on the grounds of OFAC sanctions was last year, and it was F2pool. Though if i remember correctly, they backtracked on that decision, whenever miners start sanctioning addresses, that could spell trouble for the BTC network.

[DooMAD]

Sounds like a pipe dream from foolish speculators.  I doubt the Fed would allow it even if the convicted felon did somehow win.  

[Z_MBFM]

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What do you think? I added a poll also with an intermediate scenario like the one announced by Trump, which would lead to a couple of hundred thousands of BTC hold by states, but not millions.

I stand in the same point of view as you regarding the dislike of the government's ideas holding millions of Bitcoin because in my opinion they can do with the strength they have. For parties outside the government will feel difficult. An imbalance will also be the thing that will be felt with the amount of Bitcoin remaining from the total.
But if I think long, this is not an obstacle that will make Bitcoin road in other words will not 'die' even though the scenario is like that.

Millions of dollars is not a very large amount for a country.  So it wouldn't be a bad decision for a country's government to decide to hold millions of dollars worth of bitcoins.  Because if the government keeps them for a long time as a big asset, the return will be much higher which will play a big role in the economy of that country.  But when the government decides to invest billions of dollars in bitcoins it will become redundant.  So as long as a country's government is thinking of investing millions of dollars in Bitcoin I will support them