Topic: Can't central bankers just buy all the bitcoin and miners? - page 3. (Read 489 times)

At what cost tho? I mean surely they could just buy these companies, all those big mining equipment and all that companies? The ones that print millions a day? They could spend billions and buy all of those, that's true. But at what cost? We could just build more and rival them and we could even go to another chain and just ruin their entire investment in a single day, why risk it? Like lets say it makes sense today, then we could just go to LN chain of bitcoin and then they would not make a dime.

This is why I do not think that they would ever do that, not because they can't, they can do it but there is absolutely no reason why they should and this is the thing that makes them so good, it makes them better because they know what to invest and what not to.

In a technical standpoint, it is completely impossible for bankers to buy up all the bitcoin and even the miners..

This is because, first, bitcoin is a completely decentralized blockchain network, let's assume it was possible to buy up all the bitcoin, what about the bitcoin network which can't be uttered by anyone?
And again, owning every bitcoin in the bitcoin network still means nothing, because at the end, the bank would still have to spend those bitcoins on something either by selling it or spending it on goods and services, when this happens, those bitcoin will go to someone else, so what actually is the essence of buying all the bitcoin in the first place.

Completely impossible for central banks to buy all the Bitcoin, namely as it only takes one person who's unwilling to sell their Bitcoin to them. I will be the person if no-one else will...

In more realistic terms, there is only around $2m Bitcoin available on exchanges, maybe a bit more via OTC, but this is only around 10% of the currently circulating supply. So in reality, right now there is only upto 10% of Bitcoiners who are willing to sell their Bitcoin at current prices. Sure if price went up 10x or 100x, there would be more, but there will always be a % unwilling to sell if price continues to move upwards. For example around 15% of the current supply  are held by 10 year+ holders, that remain extremely unlikely to sell, as well as almost 30% that have held for 5 years+ that are quite unlikely imo.

Because of the nature of Bitcoin's decentralization, I don't believe it is possible.

If central bankers buy all of the Bitcoin in circulation, they will tend to centralize Bitcoin because they will control the Bitcoin market and provide authority to centralized exchanges since they will impose revenue on them and receive modest sums of money from them.

They can’t just buy all the coins, millions are lost, there are also psychos like me who won’t sell my coins to them. They can buy lots for sure but that’ll just increase the price & create lots of positive media for bitcoin, they do not want that to happen.

Bitcoin can’t be banned too, all they can do is ban themselves from using it & try to make it more difficult by closing on/off ramps. People will find a way though.

Sarcastic as it sounds,  bitcoin miners will not give up their mining rings to a centralized entity such as the bank which already have its own existing centralized financial institutions that don't really bank on the decentralized nature of bitcoin.

And giving the bank control of the total bitcoin will aid more centralization and overcontrol of the network, this is something we may not want to do at this point.

It doesn't work like this, if this entity has total control over 300Exahash and your loyal miners have 10 they can fuck around with your chain like they please invalidating half a day of transactions every day, mining hundreds of blocks ahead of you, raising he difficulty 30 times, and then stop mining so you will get a block every 5 hours and so on!

To buy all the coins it's impossible as simply some will not sell, but mining is a business, if they want to secretly build millions of ASICS and run them on subsidized electricity so they would push honest miners out of business there is little stopping them other than some other entity doing the same. But the question is, why would they do this in the first place?


I have like zero idea what you're talking about!

The government is made up of individuals and they can buy Bitcoin as easily as anyone out there. Miners also sell their bitcoins through different channels.

The majority of bitcoins has already been mined.

Theoretically speaking, they can print a lot of money and use that to buy almost all the bitcoins. Practically speaking, it'd be too damaging for their reputation. It just doesn't align with their objectives and responsibilities. Their involvement in cryptocurrencies can resolve around regulatory measures, but buying the entire Bitcoin stash without a reasonable explanation is just outside their framework.

Congressman laughing at the corner after reading the OP.
SEC, CBDC, Biden Administration who are interconnected and running central bank propaganda all partying at white house every weekend just to check how they are screwing the whole Bitcoin economy be like: 

Indirectly they are already controlling many things under the crypto. We are thankful that SEC has not gotten proper evidences or Biden is not able to form proper law enforcement to control everything related to Bitcoin, otherwise we would have been doomed by now.

Mining, yeah they are already enjoying the electricity bills, and at the same time throwing the Environmental pollution balls in miners court to disturb them at all times. Let us just hope what you mentioned in OP does not really happens in the long run. That would end the career here.

Central banks buying Mining farms and BTC would be a vindication. One example of this is Tether stacking BTC as there are news about it just recently.

Central banks won't publicly say they are buying BTC but they are almost the same with institutions, almost sure they own some already.
They wouldn't be able to buy all BTC though, they will just spike the price of BTC up if done in the exchanges, I think they are doing it one OTC though.

They can't. If they start buying coins massively the price will just rise. Some HODLers won't ever sell under a certain (very high) price and at that point they might not sell them all because they'd have more than enough fiat already.

Miners? Well, mining is a business. Unless the central banks don't do something like buying a huge lot and then manipulate the price to get miners into bankruptcy (and this will not go with all, and this is illegal to be done), they cannot just "buy the miners".

Did you actually try to think a little on the possible outcome(s) before asking this question?


They can buy some amounts - big or small - but extremely far from "all".

By central bank, which of the central bank are you referring to, Or did you mean World Bank? As I think world bank would have been a better option since it is a financial institution which operates globally same as Bitcoin. But moreover, one thing you just need to understand that central banks are own by nations/countries, of which each nation has it own central banks that are all generally independent on it's  own, and as such, buying the entire Bitcoin and miners can never be possible, since not all these nations agree to the ideology & use of Bitcoin being a decentralized digital global currency whose value fluctuates due to it's volatile nature.
Secondly, if the total amount of Bitcoin in circulation (i.e 19.3million+) was to be sold currently at Bitcoin $26,800, that will amount to over $517billion, which is quite a huge sum of money for government to invest in an asset they have no control over it.

They're not amazed of it and still doubts the potential of Bitcoin. They just can't invest into something that's highly volatile and they're not looking at it just the way we're looking at it. There's a huge gap between the bankers and Bitcoin because they've got a separate belief unlike us who truly sees the potential of it no matter what negative feedbacks we're hearing with the "experts" telling that it's gonna be something bad for financial matters of an individual. But let's say that if the bankers did this, well, they'll take all the hashrates, most of supply of Bitcoins currently but that doesn't mean they'll take all because there are still some that's not yet mined.

Central banks have the authority to influence the economy and monetary policy, but they generally do not have the power to simply buy all the Bitcoin and miners. Bitcoin operates on a decentralized network, and its ownership and mining are spread across various individuals and entities globally. Here are some key points to consider:

Decentralized Nature: Bitcoin is designed to be decentralized, meaning it operates on a peer-to-peer network without a central authority. It allows for secure and transparent transactions without relying on intermediaries like central banks. Buying all the Bitcoin would require a massive amount of resources and may not be feasible or practical for central banks.

Limited Supply: Bitcoin has a finite supply capped at 21 million coins. Currently, around 18.7 million Bitcoins have been mined, leaving a limited number remaining to be mined. The scarcity of Bitcoin is one of its key features, and attempting to buy all the available coins would likely drive the price up significantly.

Market Dynamics: The price of Bitcoin is determined by supply and demand dynamics in the open market. If a central bank were to engage in significant buying, it could influence the price, but it would also face challenges such as market liquidity, potential regulatory concerns, and the reaction of other market participants.

Independence and paybyplatema Freedom: Bitcoin and cryptocurrencies, in general, offer individuals the ability to have financial autonomy and control over their assets. They provide an alternative to traditional banking systems and can be used for various purposes, including cross-border transactions, privacy, and protection against inflation.

Economic Considerations: Central banks have different objectives, such as price stability, controlling inflation, and promoting economic growth. Bitcoin and cryptocurrencies, while gaining popularity, are still relatively small in comparison to traditional financial systems. Central banks typically focus on the broader economy and do not view Bitcoin as a direct threat to their monetary policy.

It is worth noting that the relationship between central banks and cryptocurrencies is evolving, and some central banks are exploring the potential benefits and risks associated with digital currencies, including central bank digital currencies (CBDCs). CBDCs aim to provide the benefits of digital transactions while maintaining central bank oversight and control.

In summary, central banks generally do not have the ability to buy all the Bitcoin and miners due to its decentralized nature and the limited supply of Bitcoin. Bitcoin and cryptocurrencies offer individuals alternative financial options, but they coexist with traditional banking systems rather than serving as replacements. The role of central banks is to manage monetary policy and ensure the stability and functioning of the broader economy.

They can't do that, not only can't they do such, bitcoin is a decentralized digital currency and cannot be owned by the government, we have miners distributed across the world in all countries holding their bitcoin reward after mining and can't sell to government except individuals through p2p for privacy sake, aslo know that the entire bitcoin isn't mined completely at the same time, there's still more to solved over the years coming, so no single entity can accumulate the entire bitcoin, not even Microstrategy or anyone well known as giant whales.

And who says that they aren't doing that already? There are many large mining farms around the world and central banks are good at using peoples money for their own gains, I won't be surprised if they are into Bitcoin mining already.

Pretend to hate, spread panic, give them reason to give up their Bitcoin, the government are experts in this field, I bet once the inflation problem start healing you will see that good news will come from the government themselves.

If there is no FUD how can investors buy Bitcoin at lower price? If there is no FUD and hate how can the bigger organizations get their bags?

They can. Did they?

First up, miners. Say they magically get to convince all miners to give up their equipment to bankers. Next you get a hard fork of Bitcoin where bankers mine their own BTC and we continue running the still-decentralized version of it. Now let’s talk about buying the supply.

Say they will. What next? They’ll just keep their Bitcoin in a single wallet and nobody else ever gets to buy their BTC again? They have to use it. They use it by spending it. The Bitcoin they spend goes to somebody else, so the entire theory of bankers buying all BTC falls short quickly.

It’s been how many years since Bitcoin launched? Are we having any issue about supply centralization?

Then your magical 3 steps… do we forget that humans also started from the “same supply”? Before fiat, they all had the same resources to use. Give everyone the same starting supply via heartbeats and next step is they start spending their heartbeat-earned coins gambling, on drugs, alcohol, pharmaceutical supplies or restaurants. So more money goes to these parties, less money stays in the accounts of addicts and chronic spenders. Launch this “3-step” system and within 6 months someone will own more than you imagine. Fairness is almost impossible to achieve man.

Also worth noting: there have been attempts to create fairness and equality in the history of our world. How’s that worked for the societies who tried it out? Because it seems like the only ways to create actual equality are horrific changes of the society.

Can't central bankers just buy all the bitcoin and miners? so what is the point again? to prolong are $lavery?

bitcoin sucks https://www.youtube.com/watch?v=_ZQnDMQ4nlQ

kids born in 2142 are born into 100% premine kids born today are born into a 95% premine