Scoremaster (OP)
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Hi I am back from a long period of away time :)
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August 19, 2014, 02:10:25 PM |
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Hi.
What if mega banks/companies decided to accept btc, and hold it? They are billion dollar + organizations. They could afford to hold millions of BTC on hand and it wouldn't affect them. Heck even some of the large companies that are smaller have capitical expenditures in the 100s of millions of dollars per year. It seems the best thing for banks to do would be to buy bitcoins up and hold onto them.
How badly would it affect us knowing the banks regain control simply because they have soo much money to buy it out? They might have been doing it this whole time and we wouldn't know it.
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Bitwayup85
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Activity: 62
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August 19, 2014, 02:12:33 PM |
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If banks start trading with BTC then prices will rocket shoot to 1000$+ very easily.
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GogglesPisano
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Activity: 68
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August 19, 2014, 02:36:31 PM |
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I don't think we have even seen the start of Bitcoin hoarding. Wait until governments start confiscating pension funds and helping themselves to people's bank deposits. A niche market has already started for men who are undergoing a divorce and looking to hide their assets. In the future, pretty much everyone will be looking to hide their assets!
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Meuh6879
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August 19, 2014, 02:38:53 PM |
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they start ... when they fail (profit marge very very low). company don't use gold ... even if skyrocket price ...  |
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SomethingElse
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Activity: 210
Merit: 100
Looking for the next big thing
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August 19, 2014, 02:41:02 PM |
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Price will go up if people buy and hoard. Price goes down if people unload.
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NEM
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Honeybooboo
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August 19, 2014, 02:41:39 PM |
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If any banks or organizations attempted to do this it would only push the price up for the rest of us, though maybe they could do it on purpose just to inflate their coins and then dump them, but it would be risky.
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worle1bm
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August 19, 2014, 02:47:06 PM |
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Then BTC would be damaged as a means of exchange. The total market cap of BTC could be purchased by a single institution. This is implausible, but even a significant purchase of liquid BTC would significantly damage the ability to use BTC.
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Honeybooboo
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August 19, 2014, 03:44:44 PM |
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Then BTC would be damaged as a means of exchange. The total market cap of BTC could be purchased by a single institution. This is implausible, but even a significant purchase of liquid BTC would significantly damage the ability to use BTC.
How would it be damaged? All that would happen would be the smaller ammounts of bitcoin still in circulation would become worth much more. |
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DKMathias
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August 19, 2014, 08:42:53 PM |
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The Bitcoin would probably be EVEN more worth
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Mobius
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August 20, 2014, 02:44:55 AM |
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It would have the exact same effect as if any other "whale" were to start buying up/hoarding bitcoin, as many do already. It would drive up the price.
With that being said, IMO it is very unlikely that banks are going to do anything like this as bitcoin today is still very speculative (see the price changes over the past week) and unstable investment/currency.
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X7
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Activity: 1162
Merit: 1009
Let he who is without sin cast the first stone
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August 20, 2014, 03:08:41 AM |
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Banks can kiss my butt  .... I'm pretty sure I had an intellectual remark somewhere but... yeah... that's all I got for now lol |
For what shall it profit a man, if he shall gain the world, and lose his own soul?
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lemfuture
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August 20, 2014, 03:10:28 AM |
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why mad op? you should actually hope for this
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1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
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gelar24
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August 20, 2014, 03:28:03 AM |
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why mad op? you should actually hope for this
if it is beneficial for the growth btc btc prices will rise or why not? : D positive as I would expect that to happen haha |
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X7
Legendary
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Activity: 1162
Merit: 1009
Let he who is without sin cast the first stone
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August 20, 2014, 03:42:09 AM |
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Hi.
What if mega banks/companies decided to accept btc, and hold it? They are billion dollar + organizations. They could afford to hold millions of BTC on hand and it wouldn't affect them. Heck even some of the large companies that are smaller have capitical expenditures in the 100s of millions of dollars per year. It seems the best thing for banks to do would be to buy bitcoins up and hold onto them.
How badly would it affect us knowing the banks regain control simply because they have soo much money to buy it out? They might have been doing it this whole time and we wouldn't know it.
PLOT TWIST Coinbase is secretly the federal reserve buying all the BTC to take it out of circulation lol |
For what shall it profit a man, if he shall gain the world, and lose his own soul?
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jubalix
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Activity: 2618
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August 20, 2014, 06:59:24 AM |
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Hi.
What if mega banks/companies decided to accept btc, and hold it? They are billion dollar + organizations. They could afford to hold millions of BTC on hand and it wouldn't affect them. Heck even some of the large companies that are smaller have capitical expenditures in the 100s of millions of dollars per year. It seems the best thing for banks to do would be to buy bitcoins up and hold onto them.
How badly would it affect us knowing the banks regain control simply because they have soo much money to buy it out? They might have been doing it this whole time and we wouldn't know it.
PLOT TWIST Coinbase is secretly the federal reserve buying all the BTC to take it out of circulation lol does not not help. Only makes HODL'rs richer. Thats the beauty of BTC, you can't buy it all no matter how rich you are, you can only transfer vasts amounts of your value to someone that's not you when you try to buy it all. Banks, Gov's and high networth individuals have probally realised this. Before you could always buy out the company or nationalize it. But now. No. |
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Grownwithbtc
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August 20, 2014, 07:05:17 AM |
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IF they start hoarding the prices will change a lot. If they decide to damage BTC, they will dump it and prices will rocket fall. Hope this never happens.
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zolace
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August 20, 2014, 07:06:32 AM |
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Im sure if Banks could have bought bitcoins cheap they would have done it and probably could have owned 10 percent of bitcoins, but thats only if they knew the potential before hand. Though it could have also drove prices up as well for bitcoin
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LiteCoinGuy
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In Satoshi I Trust
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August 20, 2014, 09:31:45 AM |
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If banks start trading with BTC then prices will rocket shoot to 1000$+ very easily.
wow, 1000 USD when mega banks trade bitcoin...amazing price  i would add one or two zeros  |
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giveBTCpls
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August 20, 2014, 10:15:49 AM |
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It doesn't matter, in fact if the demand is bigger, they will shrink the supply which will make the coin prize go even higher.
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blatchcorn
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August 20, 2014, 10:45:40 AM |
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It would have the exact same effect as if any other "whale" were to start buying up/hoarding bitcoin, as many do already. It would drive up the price.
With that being said, IMO it is very unlikely that banks are going to do anything like this as bitcoin today is still very speculative (see the price changes over the past week) and unstable investment/currency.
But investment banks love speculative markets right? |
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Lethn
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August 20, 2014, 10:53:13 AM |
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This top has been discussed several thousand times and I remember seeing people posting about it ages ago, not only would the price skyrocket so high it would be very difficult to acquire all of the coins Bitcoin can be divided into 8 decimal places, so in theory you should be able to just conduct global trade with fractions of a few Bitcoins and everything would still work.
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CMMPro
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August 20, 2014, 11:10:19 AM |
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I wouldn't be surprised to hear of bitcoin being used covertly by the banks.
They could buy a bunch and use it internally to transfer international remittances between banks and people at a much faster rate for less cost (and probably higher security) than Swift, IBAN etc and never tell their customers that they are using bitcoin at all.
You go to the bank to perform a transfer of USD internationally....they perform the transaction securely using bitcoin, and handle the conversion on both ends without you having any idea that they just used bitcoin and you paid a hefty fee for something you could have done yourself for almost no fee's.
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iluvpie60
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August 20, 2014, 01:01:15 PM |
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This top has been discussed several thousand times and I remember seeing people posting about it ages ago, not only would the price skyrocket so high it would be very difficult to acquire all of the coins Bitcoin can be divided into 8 decimal places, so in theory you should be able to just conduct global trade with fractions of a few Bitcoins and everything would still work.
How do you figure the price would sky rocket? we just went through a crash from 590 to 309 because of 10K btc. if banks controlled 100k BTC they could crash it down as low as 100 USD per or something like that and put up a HUGE sell wall that would never be taken down. long term strats like that are easy to do when u got billions of dollars to do it with. just because a bank has it doesnt mean it will sky rocket, its the same as a normal person holding it(that is if the banks dont manipulate it). why would a bank holding it be better than a normal person? plus you CANT prove it either way because there isn't something that can prove the banks have it so you wouldnt even know anyway, so that blows your whole theory clear out. |
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wordman267645
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August 20, 2014, 02:57:44 PM
Last edit: August 20, 2014, 09:03:11 PM by wordman267645 |
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I'm not agreed with this because there is no secure. Hackers can easily to hack it.
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X7
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Activity: 1162
Merit: 1009
Let he who is without sin cast the first stone
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August 20, 2014, 05:23:32 PM |
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So basic consensus = BANKS - 0 / BTC - 1
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For what shall it profit a man, if he shall gain the world, and lose his own soul?
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wesk1212
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August 20, 2014, 05:43:26 PM |
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the problem with most of the users in this forum is all they care is the PRICE
PRICE THIS PRICE THAT
just waiting for something to happen
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X7
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Activity: 1162
Merit: 1009
Let he who is without sin cast the first stone
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August 20, 2014, 05:46:52 PM |
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the problem with most of the users in this forum is all they care is the PRICE
PRICE THIS PRICE THAT
just waiting for something to happen
Not everyone bro - www.thebitcoinmovement.comI am just adding commentary, price is not everything - just a bonus and it helps spread some wealth. |
For what shall it profit a man, if he shall gain the world, and lose his own soul?
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