if they buy 210K coins then its price will pumped automatically
and when they annouce it then price will skyrocket but lets see if any country do this
Topic: 1st nation to adopt Bitcoin will become wealthiest - page 2. (Read 8255 times)
Can only be Greece.
No nation would be stupid enough to trust their wealth in bitcoin.
The majority of bitcoins are held by unknown people with unknown intentions. What guarantees does anyone have that Satoshi or someone else won't just cash out their 1mil.+ coins? Absolutely none.
The only thing that bitcoin holders have is hope that some big holder won't start cashing out and won't push this thin little market to it's knees.
You can gamble on hope, but serious finance needs more then that.
The majority of bitcoins are held by unknown people with unknown intentions. What guarantees does anyone have that Satoshi or someone else won't just cash out their 1mil.+ coins? Absolutely none.
The only thing that bitcoin holders have is hope that some big holder won't start cashing out and won't push this thin little market to it's knees.
You can gamble on hope, but serious finance needs more then that.
I see so many wrong things in your (and previous) posts.
No country would switch to bitcoin because that means they will lose control on money, money supply, their citizen's transactions, and more in general they would lose their power.
On the other side, it's not required that a government switches to bitcoin. People can, they already are free to do it anytime.
If there are big holders, it's because they realize how shitty is the fiat environment. Who would be so fool to sell their bitcoins to obtain shitty fiat? I expect that big holders will use bitcoin directly to buy what they want/need and they won't crash the price.
Last but not least, people who understand bitcoin don't base everything on "hope" as you say, but on the clear and exact rules of the bitcoin protocol and network.
Is Greece small and desperate enough?
I doubt it... current minister is Yanis Varoufakis, a known anti-bitcoin economist.
"Bitcoin and the dangerous fantasy of ‘apolitical’ money"
This is one reason why nobody outside of the echo chambers takes you guys seriously.
"Shit bitcoiners say"
"Shit bitcoiners say"
I doubt it. They will be paying a large amount to buy a large reserve of it. And the rest of the world would probably just dump and the economy will drop right then.
No one going to adopt bitcoin because botcoin is not a stable currency and a limited currency as we all know its going to end in cuple of years.
If a nation would buy 1% of total Bitcoin ever available (210k) at current prices (50M USD) and announce that this is their official currency, they would become world's wealthiest nation almost overnight.
First ones in most cases be the one to be burned the most, while others observe and learn from their mistakes, and then they profit.
Buying a ton of bitcoin would increase the price for some time, but that price would soon deflate, leaving u with a loss.
Anyways bitcoin is not ready for such a thing, more precisely put; the surroundings of bitcoin are not ready, mainly for security reasons and volatility of the price.
cheers
The first headline we read about a nation adopting Bitcoin will be in the context of the PEOPLE adopting it, not the government.
I don't think that a country should adopt bitcoin as a currency.
But I'm strongly suggesting that National Banks should reserve some bitcoin to back up their money!
Also If I was a Bank owner, I would definetely buy bitcoin. Let's say My bank bought 1k btc; how much is it? it's just 250k$ but one year from now what'll I loose or gain? That's matters.
But I'm strongly suggesting that National Banks should reserve some bitcoin to back up their money!
Also If I was a Bank owner, I would definetely buy bitcoin. Let's say My bank bought 1k btc; how much is it? it's just 250k$ but one year from now what'll I loose or gain? That's matters.
Is Greece small and desperate enough?
Even they are not that desperate 
If a nation would buy 1% of total Bitcoin ever available (210k) at current prices (50M USD) and announce that this is their official currency, they would become world's wealthiest nation almost overnight.
Lol, you have been thoroughly fooled. There is no person called Mr. Nation.
Is Greece small and desperate enough?
Other candidates?
Other candidates?
i heard they only like the technology behind it, not bitcoin itself, they may adopt a new currency, maybe their own alt coin
“Bitcoin is a currency, bitcoin is a network, bitcoin is a technology and you can’t separate these things. A consensus network that bases its value on the currency does not work without the currency.” - Andreas Antonopoulos
Is Greece small and desperate enough?
Other candidates?
Other candidates?
i heard they only like the technology behind it, not bitcoin itself, they may adopt a new currency, maybe their own alt coin
“Bitcoin is a currency, bitcoin is a network, bitcoin is a technology and you can’t separate these things. A consensus network that bases its value on the currency does not work without the currency.” - Andreas Antonopoulos
Is Greece small and desperate enough?
Other candidates?
Other candidates?
i heard they only like the technology behind it, not bitcoin itself, they may adopt a new currency, maybe their own alt coin
Even small and relatively poor countries have GDP of over 100 billion USD, that's 3 times the current value of bitcoin. I don't think accepting BTC would boost their economy that much.
The difference between 0.04 (paper) and 100 USD (paper money), a 2500 fold increase in value, is not acceptance but mandate of it's use forced by violence.
One nation wouldn't cause that kind of increase in value, but the cascading effects would. To commerce with this nation, you would have to buy Bitcoin and increase it's demand and thus it's value.
This nation would have such a huge efficiency edge that other nations would be forced to adopt Bitcoin, but in the process it and it's citizens would become world's wealthiest.
No western country is going to do it anyway. Nobody will just break away from fiat.
The market would have to be big enough to support a national economy first. So, not yet.
But if a country were to mandate that their citizens only pay taxes in bitcoin it would be forced to shoot up to whatever price that requires. They would make bitcoiners around the world rich at the expense of their own citizens. Not gonna happen.
But if a country were to mandate that their citizens only pay taxes in bitcoin it would be forced to shoot up to whatever price that requires. They would make bitcoiners around the world rich at the expense of their own citizens. Not gonna happen.
It's a self-fulfilling prophecy. The market cap will be big enough after the announcement. It's a chicken and egg problem. The price will be stagnant until there's a need for it and then the price will go up violently.
Not only Bitcoiners around the world would be rich, but the nation and it's citizens would be too. Only envy of other Bitcoiner's wealth could prevent that and greed is stronger than envy.
Place your bets accordingly.
The market would have to be big enough to support a national economy first. So, not yet.
But if a country were to mandate that their citizens only pay taxes in bitcoin it would be forced to shoot up to whatever price that requires. They would make bitcoiners around the world rich at the expense of their own citizens. Not gonna happen.
But if a country were to mandate that their citizens only pay taxes in bitcoin it would be forced to shoot up to whatever price that requires. They would make bitcoiners around the world rich at the expense of their own citizens. Not gonna happen.
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