Topic: Buy Bitcoin before the banks and governments do - page 2. (Read 500 times)

Going through the link as provided above, I find something interesting and that's is
This is the evil that the banks are built on, the flaw in a centralized system that prompts users to seek bitcoin or cryptocurrency investment as that is a wie thing to do in times of complete control by the government. Its horrible what centralized systems puts those who bank ok the system through.

Violation of trust and trying to get money of people money without there consent is how FTX crumbled, a centralized exchange and that's the very things banks have always banked on. What do you think would become of it should things go rogue one day.

Little wonder why other banks buy all the shared of others.
In all, though banks and nations that fear foreign influence might sort bitcoin for refuge, they can't buy it out of the market, they might end up making it more scares and even worth more.

I believe that the banks and governments already have enough bitcoin and are waiting for it to rise in price, El Salvador took the step that everyone wants but it was shameless and that did not sit very well with the banks and the other governments, the governments they already have bitcoin and the banks must have their refuge in bitcoin, it is the case that the most important countries in the world have economic problems and have to save their money in case there is more inflation, that the United States of America of a news that is their economy may come crashing down to activate all the plans they have had for many years, the gringos are not stupid at all.

Even if the Banks bought all Bitcoin, what would be the purpose of that? To control/centralize Bitcoin? In that case, we would just move over to a different coin with the same Blockchain technology but with just a different name. That does not sound like a good strategy for banks, especially since they want to earn profits, not just hold everyones money and charge them for such stupid reasons. They want to earn money by doing nothing but making it seem like they did something of use, like provided a service which people actually need...

Are you sure about your words as far according to the current market situations there is no body who is buying Bitcoins and this is called a dead market flow. So how can you say that Banks do follow it. But considering the advice everyone must fill up bags as its good to be prepared. Now or later banks need to buy so if they are not buying cheap you do buy and then sell them in major profit margins to same banks.

Governments will not buy bitcoin as their reserves or assets unless they have no other means of doing payment like hyperinflation or restrictions for accepting Rubles.

Banks may buy it and has to do it if they want to follow the trend or else they will be left out what happened to Nokia when smartphone era begins. So yes buy as much as you can and you won't regret that for sure.

Banks won't disappear even if bitcoin is widely accepted, bitcoin is just a currency, a store of assets, or more an investment. Banks will be weak to bitcoin in those cases but banks give us more services than you think, lending services with moderate interest rates is one of the strengths for the bank to survive for hundreds of years without having to change its business model. When you need money and no one wants to help you and bitcoin won't be able to help you in that case but with the bank it can help you.

There's always a game plan if government gets involved in Crypto currency purchase or ownership. The government can not be trusted to this extent of buying Bitcoin without something in their minds. Most times, government getting involved in things of this nature points towards their selfish interest. I laugh when I hear news of this type because it's only a man that folds his sleeves knows what he is upto. So therefore it should not be a thing of surprise if you wake up one morning and start hearing that the government of your nation has suddenly pick interest in blockchain. They always have a way to truncate situations. A

Although it's known that Central African Republic and El Salvador already got their ways into bitcoin and they could be using funds of their people in buying bitcoin.

But the majority of the governments wouldn't really try to get into a very volatile market without assurance that they'll have ROI or profit to make. They just can't put at risk the money of their people so, there's no need to be wary of if they will buy.

when I see this title I always look at the banks in my country and the first thing that comes to my mind: "no, no, no... the banks in my country do not buy bitcoin" and the reason is very simple, the banks in my country for example they want almost safe profits, something they say: "in a few years we will have 3X profit" so they will prefer to continue giving loans to people in my country and charge high interest and after 5 years they will have high profits than buy bitcoin that will not have a 100% guarantee that after 5 years they will have a profit of 3X, I gave an example of the banks in my country, but probably the banks in other corners of the world are worse than the banks in my country


banks are constantly monitored by central banks and the central bank is very strict in complying with laws, banks will not risk losing their license, paying high amounts in fines and even being arrested for taking money from customers to buy bitcoin, they will not that. things in the real world work that way, there are laws and people can easily be arrested if they commit this type of crime of taking money from customers and buying bitcoin when the central bank does not allow them to do that. I don't know how some people can still be fooled into thinking that banks will buy a lot of bitcoins

The article mentions a paper which wasn't even peer-reviewed and that argues that gold is better for banks to avoid sanctions anyway. So it seems that the motivation to have some BTC for central banks isn't high. Moreover, sanctions, as the Politico article mentions as well, don't always work and might not work as effectively as intended most of the time.
The Satoshi quote by the op is beautiful, but the idea of buying BTC before the banks do it isn't really viable, as it's not like we can ban them from buying it, and given high liquidity of Bitcoin, there wll always be enough willing to sell (and thus enough options for banks to buy BTC), it's just a question of price.

Yes Banks and Government actually sees Bitcoin as a threat, Government sees that it will be difficult for them to control and that's why they came up with the idea of CBDC'S. While most banks will go out of business if Bitcoin becomes widely adopted and if those banks didn't change their old business model because of the peanut called interest they pay their customers for saving money in their account as compared to what people get as interest in staking their cryptos/stablecoins.

Maybe later, there will be negative news that will scare investors and sell their bitcoins out of panic and make the price fall deeper.
And some people will benefit from that because they can buy a lot of bitcoins with a lot of money.
Maybe the government will also use the moment to buy more bitcoins with their cash reserves, we know they can buy them easily.
As crypto users and using bitcoin as an investment, we should use those moments as an opportunity to increase the number of bitcoins we have and better keep up with market conditions.

Old fashined governments are still struggling with the idea and what Bitcoin represents. For them, it threatens their stability and control and their monetary policy. So, if they want to keep their control, they will either buy into it or they will severely restrict it by creating heavy regulation specifically designed to prevent the average joe to buy it.

I think overexcited when talking about bank and government buy or investing in Bitcoin based on there man countries not allowed for using Bitcoin as legal currency transaction. No doubt with Bitcoin worth as investment assets at future, but I think have competitor when many countries have legalize with Bitcoin as payment currency and make it for investment assets,  I worried with government have change any rule about Bitcoin is legal for investing assets or not.

Need to see later have many countries have adopted bitcoin as legal currency and make them interested invest their assets in Bitcoin, but have little impact with taxes accepted by government reduce with many people have controlling by their self when investing in Bitcoin and there are no one know about how much Bitcoin investment we have.

Dude, I don't agree with this view. But I respect it.

Governments and politicians are trying to advertise and market bitcoin and cryptocurrencies as worthless and dysfunctional assets.

First, they drop as much as they can and then they start a bullish movement. We've seen this with every bitcoin rise.

Personally, I think they will drop Bitcoin as low as 10 thousand dollars and spread serious fear. Then they will start to take it themselves. We follow a cycle.

Let's not get overexcited especially with the many bad things happening in the cryptocurrency industry. I am sure that there can be some banks - maybe under a subsidiary they partly or fully control - that are owning Bitcoin but I am not sure any bank that is planning now to be getting into Bitcoin. Banks can have a hard time managing the risks with extreme volatility...they prefer something that is stable and sure. Now, I always prefer that it would be the people that will be the leading investing force for Bitcoin though sad to say that retail investors can easily be swayed by FUDs so they can panic easily.

Bitcoin is a very volatile asset which I don't think the CBN would easily want to dive in because especially during this uncertain period of the market because they will really be in huge loss just as El Salvador is now.
Everyone wants to Make more Money even the government and it's central banks too will also love to dive into Bitcoin but the fear if the unknown still holds them.
I've come to observe and also notice that government will prefer to invest more in gold which is stable than a highly volatile Bitcoin and from the news link the OP shared, more gold have been bought in the third quarter if the year and from where no one actually knows.

If the government would want to purchase Bitcoin then it would be through some investors because they wouldn't want to bear the risk.

Government can't buy cryptocurrency and Bitcoin for investment or holding it for long time, the only people in the government can do is what you just said, because government dislike cryptocurrency because of  the heads of the government are thinking that while Bitcoin is like that, it's because of they thought over Bitcoin is that Bitcoin is a currency that will make fiat currency to be valueless,and that's why government is against Bitcoin totally.

I feel banks were going to cozy up to CBDCs whether crypto were to boom or bust.  As for we the people that are Bitcoiners, I don't see such a thing as we already know that CBDCs is nothing but fiat 2.0- dressed different but the same shit, i.e., inflationary, devalues over time, etc.

I think they aren't. They had some exposure in 2020 and 2021 but most institutions left the market when we crashed to 30k. I saw some analysis by glassnode early this year and they were showing that institutional outflow was in November 2021 and then again early 2022.
The rest of the crash were mostly scammers who used bitcoin like Do Kwon who dumped 2 billion on the market. I suspect some of the crash was also SBF who was selling coins people were depositing on his exchange to buy himself houses and bribe politicians.

IMO the attempt to destroy bitcoin through FTX was made so that the banks could go towards CBDCs instead of buying existing cryptocurrencies. They are playing their own game.