Switzerland Could Not Even Get 100,000 Signatures to Adopt Bitcoin as Reserves!

[Rustam Meraj]

When big nations join this industry, they will escalate regulations on this industry because governments always want to control citizens as most as possible and big nations with strong economy, hard and soft power often try to set up games and control the rest of world as much as they can do.

Bitcoin market cap and Bitcoin market trading volume are still very small compares to traditional markets and big nations won't hesitate in selling, dumping their bitcoins in national reserves if they feel it is a necessary action because market dumps won't affect their nation budget too much but such market crashes even in short term will affect retailed investors and traders in Bitcoin market.

Now we are heading towards Sovereign Game Theory, so if one country sells at lower price to make its supply cheaper, it will be subsidizing entry of its geopolitical rivals who are seeking to accumulate at cheaper rates. Moreover, comparison between Bitcoin market cap and traditional fiat market is also reason for high volatility. But as Bitcoin matures into worldwide reserve asset, depth of order books will come to be increasingly difficult for even big country to move prices around without damaging its own balance sheet. That real danger is not just market dump, it is regulatory capture, powerful countries trying to push KYC at protocol level, trying to reduce pseudonimity and what makes bitcoin tool for individual financial sovereignty.

[snowpega]

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Their loss, because there will be two kinds of people, one with regret and the other with Bitcoins. They chose to be in regret. It is not bearish news, if anyone thinks that it is, because so far Bitcoin does not need SNB's support and it can do better even without them.
...

I really don't know much about Switzerland's population, GDP, and its people's literacy rate. Like, if they have good GDP growth with a good literacy rate, then I think they will adopt Bitcoin for their national strategic reserve sooner or later. No matter if they are not adding it yet. But with the passage of time, where we know the adoption of bitcoin is increasing heavily then those countries that are still neglecting it under some reason will start to adopt it for thire ecomny growth.

I think if the US passes the crypto clarity bills, then the adoption of bitcoin will increase massively, and seeing this, many other countries will jump into this race of owning as much as bitcoin as they can. Cryptospace has already started getting many positive signals for its easy adoption, where it has been legalized in different regions of the globe for a friendly crypto ecosystem. So, let's see how long it will take for Switzerland to adopt Bitcoin.

[Z-tight]

Their loss, because there will be two kinds of people, one with regret and the other with Bitcoins. They chose to be in regret. It is not bearish news, if anyone thinks that it is, because so far Bitcoin does not need SNB's support and it can do better even without them.

I hate it when certain bitcoiners think that if people don't want BTC, they are going to regret it, when that is not always the case. There are a lot of other investments and assets that people would choose over BTC and that is fine; it is their choice and it could be a good one for them. Take note that individuals and institutions have been investing successfully, long before BTC was created.

Would i have added my signature if i was in the country? Yes. Do i think it would be nice to add BTC in their sheets? Yes. But the people didn't want it, and that is that. No need to make it look like karma is coming for them.  

[Catenaccio]

I hate it when certain bitcoiners think that if people don't want BTC, they are going to regret it, when that is not always the case. There are a lot of other investments and assets that people would choose over BTC and that is fine; it is their choice and it could be a good one for them. Take note that individuals and institutions have been investing successfully, long before BTC was created.

It's bad for them if they ignore Bitcoin and don't want to have Bitcoin but even if they want to have Bitcoin and decide to take action, there are other challenges. Like they must know how to do things rightly, from buying, storing and backing up their wallets. All these steps must be done rightly to make sure that they actually purchase bitcoins, and don't be scammed, lost money while don't have bitcoins; and must backup, test backup for having resources used for wallet recovery in the future.

So it's not easy like if people invest money in Bitcoin, all of them will have profit, it depends on many things, even more than things aforementioned.

[Satofan44]

Well, another proof that all those numbers about hundreds of millions of crypto users are just rubbish.

According to different sources, Switzerland is credited with 2.5 to 4.5% so called Bitcoin owners, that would be something like 250k to 450k people.
Of course, highly possible that not all owners signed up for that, also the same possibility for some owners getting their friends and relatives to sing it despite them not owning a satoshi.

I sincerely doubt that the number of so-called Bitcoin users and owners are not inflated by at least one order of magnitude as we speak!

With this you mean to stipulate that if I am a Bitcoin owner, I am supposed to sign whatever nonsense someone wants to do as long as it is related to Bitcoin or is alleged to have some benefit to Bitcoin? That is now how a reasonable person's brain works, that is how a cultist and 3rd world undeveloped brain works. I can be a Bitcoin owner and at the same time not want to bank to adopt it as a reserve. To make any baseless conclusions on the data regarding the estimated number of users solely using this piece of news is just dumb. There could be any number of reasons for which they failed to get the signatures (aside from the example that I have demonstrated) which have nothing to do with the number of Bitcoin users in Switzerland. It could be simply a badly run campaign. Just because the idea is big and favorable, that does not mean that the organizers are competent and ran a good campaign.

Bitcoin is supposed to be a decentralized cryptocurrency and it's sad to see people who want it stored in central bank vaults.

Finally a real Bitcoiner Bitcoin is for the people, not for the State!

Claiming this is anti-Bitcoin though. Bitcoin provides opportunity and freedom of access to everyone, including the State. You may not like the State, but it has an equal right to Bitcoin as each individual person does. 

Lol, they can get that much easily within the youth of my our country, because almost 7 out of 10 people from our youth are already into these things, because they are mostly into things such as freelancing and online jobs, so they are always looking for ways that can make things easy for them like receiving payments from their international clients, which can't be easier than asking them to buy and send bitcoins or cryptocurrencies, because it makes the process extremely easy, and they don't have to go through all the hassle that banks put them through when they receive funds from outside the country.

Using it as a means to an end has nothing to do with actually supporting it or understanding it, that is why so many 3rd world people are tricked by all sorts of shitcoins and scams. Most of them literally do not care what Bitcoin offers and how different it is from some random shitcoin. They will adopt some shitcoin scam as long as they can personally benefit from it even at the expense of others. Learn the difference between people who are actual supporters and those who are merely using it as a means to an end (they couldn't care less).