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Author Topic: How hard would it be for Central Banks to buy 90+% of all Bitcoin now&future.  (Read 2798 times)
BitcoinAddicts
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February 28, 2015, 06:15:34 PM
 #21

i don't think they will able to buy that much bitcoins
even if they did half of that , it will skyrocket the price of bitcoin

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March 01, 2015, 09:15:16 AM
 #22

How are they gonna do that? The exchanges dont have all the bitcoins, there are bitcoins in personal wallets and a variety of different websites like casinos, so when they start buying on exchanges they would make the price go up

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March 01, 2015, 12:40:21 PM
 #23

How hard would it be for Central Banks to buy 90+% of all Bitcoin now&future.

If they did this they could effectively crush the price on the exchanges, making bitcoin unprofitable to mine and secure… After a few up and down swings they would effectively corner the market financially and once enough of you's get burned, you wouldn't dare put another dollar into bitcoin..

They could effectively take control of the price, crush the network similar to oil manipulation, and if so desired then, control the rate of creation of bitcoins IE they could always sell and buy, with the narrative, it is our intention to destroy bitcoin, the network behind it if you touch bitcoin, you will lose…


Considering the lag required to get Fiat into bitcoin via Centralized exchanges they could easily manipulate the price lower by having the largest fiat balance in the market and also the largest bitcoin balance, and they could easily act as buyer and seller manipulating the price lower..

I doubt the mass market would adopt the p2p transactions or local bitcoins or anything not heavily regulated and protect leaving a void on the buy side..

Perhaps defeating the FED over time might work, but it could take 20-30-50-100+ years before they lose control and the reality seem, if they want to have possession of 99.98% of bitcoins they could. And the price being $1

It is also unlikely to think the mass market will adopt a different alt coin for the fed to wage its financial war again and cause a huge score of more losses as the fed accumulates the alt coin and then forces the price back to zero-ish.
Let me guess, you're new to free markets?
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March 02, 2015, 03:45:02 AM
 #24

They could do if, if they created a new currency allegedly backed by fiat, that people then would prefer to use in stead of the real thing. The backing would over time be reduced, and the new fiat devalued with respect to bitcoins, while printing new fiat lala-coins.

With the printing, they could amass most coins. Much like they did with the gold.

The crucial point this time, is that there is no need for bitcoin-backed fiat, bitcoins are just better. Should a need for low-tech paper money arise, paper-wallets could circulate.


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March 02, 2015, 08:15:30 AM
 #25

This like others pointed out. If they wish to drop the price, all they can do is dump the coins from the auction., But that wouldn't kill bitcoin

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March 02, 2015, 08:17:32 AM
 #26

How hard would it be for Central Banks to buy 90+% of all Bitcoin now&future.

If they did this they could effectively crush the price on the exchanges, making bitcoin unprofitable to mine and secure… After a few up and down swings they would effectively corner the market financially and once enough of you's get burned, you wouldn't dare put another dollar into bitcoin..

They could effectively take control of the price, crush the network similar to oil manipulation, and if so desired then, control the rate of creation of bitcoins IE they could always sell and buy, with the narrative, it is our intention to destroy bitcoin, the network behind it if you touch bitcoin, you will lose…


Considering the lag required to get Fiat into bitcoin via Centralized exchanges they could easily manipulate the price lower by having the largest fiat balance in the market and also the largest bitcoin balance, and they could easily act as buyer and seller manipulating the price lower..

I doubt the mass market would adopt the p2p transactions or local bitcoins or anything not heavily regulated and protect leaving a void on the buy side..

Perhaps defeating the FED over time might work, but it could take 20-30-50-100+ years before they lose control and the reality seem, if they want to have possession of 99.98% of bitcoins they could. And the price being $1

It is also unlikely to think the mass market will adopt a different alt coin for the fed to wage its financial war again and cause a huge score of more losses as the fed accumulates the alt coin and then forces the price back to zero-ish.

90% of the coins are not even in existence but buying 90% of the existing coins may be theorically possible but 90% of the bitcoins would need to be sell to them.

 
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Collymore
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March 02, 2015, 09:02:30 AM
 #27

If the banks tried to buy that many coins all it would do would push up the price of the remaining coins that they can't get their hands onto to insane amounts. I'll be very rich if they do, so they can go right ahead but they're not going to do this as it obviously wouldn't work.
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March 02, 2015, 09:08:50 AM
 #28

I am just curious, is there no other way that they can hard fork it or shut down the network of bitcoin ?

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March 02, 2015, 07:20:23 PM
 #29

can you shutdown the internet network ?
can you shutdown the P2P File sharing network ?

well ... it's the idea with bitcoin.

 Grin you can't.

no, no, no, no, nooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo.
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March 03, 2015, 02:13:13 PM
 #30

I am just curious, is there no other way that they can hard fork it or shut down the network of bitcoin ?

Come up with a better idea.  Smiley
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March 03, 2015, 03:35:38 PM
 #31

A fraction of one per cent of coins are on exchanges at any one time.

If an institution wanted a significant numbers of coins they'd have to be dealing with die hard hoarders and early adopters. An email arriving in their inbox from JP Morgan isn't likely to be very welcome.

If they carried on buying on the open markets you'd have your 100,000 dollar bitcoin in very little time at all.


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