Topic: Bitcoin buying by central banks - page 2. (Read 1274 times)
Dude, in most countries banks aren't allowed to buy and, for sure, sell bitcoins
Taxes. And maybe more closely enforced or stiffer tax code requirements for those who own, sell, or use Bitcoin. Central banks may buy some but it's more likely that Investment Banks will buy Bitcoin, I mean they'll buy anything to make themselves some quick money!
Government agencies are more likely to buy Bitcoin than Central Banks. I just don't see what it benefits Central Banks...these aren't investment companies per se.
Government agencies are more likely to buy Bitcoin than Central Banks. I just don't see what it benefits Central Banks...these aren't investment companies per se.
Now bitcoins buy and sell commissions from four percent and more individual commercial and state banks. Specialists in this industry say that Central Banks are forbidden to buy crypto currency. Therefore, there is no danger that central banks will buy up the bitcoins and will influence their course. I think no state is
I dont understand why you titled it like that
Were you trying to say that you want to buy BTC at banks?
Were you trying to say that you want to buy BTC at banks?
There is lots of legalisation issue based on each country . Government bank or central bank can able to buy the bonds like shares and commodity like gold and silver . But they cant buy bitcoin . Even Ripple is hold by some bank but its not decentralized its not holding complete concept of blockchain.
Does anyone know if btc market cap goes above 50 bln will the central banks be able to buy bitcoin. with only 21,000,000 coins available there could be a quick run up with people hoarding them,so how do they work that out. Just print money 24/7 and buy up all bitcoin.Cheers, JCBTC
Central banks can`t buy bitcoins or any other cryptocurrency becasue they are restricted by legislation.
They can buy only govrenment bonds and monetary gold.You should read more about how a central bank works.
Anyway,this is a bad idea because the central banks could easily manipulate the bitcoin price and put bitcoin under their control.
Bitcoin's price is determined on demand and supply. The scenario has been mentioned before, but people were using Bill Gates or a bunch of rich people as the buyer of all these coins as an example. So they buy up all the coins and then what? The demand is there, but there is no supply. They will only receive profits from this, if they sell and then those coins will come back into the supply.
The merchants will also stop accepting Bitcoin, if there are no supply of coins. < This will also influence it's price, because people want it to shift wealth >
These governments will also have to buy up all Crypto currencies, because if Bitcoin is not regularly available, then people will start using another Alt coin. ^smile^
The merchants will also stop accepting Bitcoin, if there are no supply of coins. < This will also influence it's price, because people want it to shift wealth >
These governments will also have to buy up all Crypto currencies, because if Bitcoin is not regularly available, then people will start using another Alt coin. ^smile^
Does anyone know if btc market cap goes above 50 bln will the central banks be able to buy bitcoin. with only 21,000,000 coins available there could be a quick run up with people hoarding them,so how do they work that out. Just print money 24/7 and buy up all bitcoin.Cheers, JCBTC
1. Governments of countries that are legalising bitcoin might decide to buy small portions of bitcoin as a reserve. In such a situation, bitcoin price would hit the moon. Hoarders wouldn't definitely part with their bitcoin even at this point. Bitcoins are divisible, governments trying to buy all of the bitcoin in circulation would result in making millionaires out of people who own even a few satoshis.
2. Just hoarding doesn't give bitcoin value, it needs to be in circulation to keep the speculation and demand in alignment. Governments move to buy all bitcoins would end in bitcoin breaking all the records making millionaires even billionaires in the process and then the their move to hoard all the bitcoin would kill the demand and speculation. The governments would be shelling out billions to own a dead bitcoin. Would they do it? No.
Does anyone know if btc market cap goes above 50 bln will the central banks be able to buy bitcoin. with only 21,000,000 coins available there could be a quick run up with people hoarding them,so how do they work that out. Just print money 24/7 and buy up all bitcoin.Cheers, JCBTC
Jump to: