As you know, most mining power is now in China and China miners essentially control the development of bitcoin.
I do not think Japanese government will spend tax payers' money to buy something which is kind of "controlled" by Chinese. On the other hand, Chinese government do not need to spent money on bitcoins... They can just setup more miners or even gain control of all the miners in China...
Topic: Currency Wars: Governments Hoarding BTC - page 2. (Read 886 times)
With a current market cap of about $10.5B, I don't think there is enough BTC for hording by govts to be worth while.
To the countries you mention $10.5B is not very much money.
For Comparison, The US currently owes China $1.3T.
To the countries you mention $10.5B is not very much money.
For Comparison, The US currently owes China $1.3T.
Do you think this will happen? A while back, someone online noted that they think Japan will be the first government to start hoarding BTC (the way nations hoard precious metals and oil). And that China would then buy up more than Japan, because China of course can't be outdone by Japan in anything other than porn and anime. And then other nations would jump in. So, we'd essentially have a scenario in which taxpayers--who have have never heard of BTC--are indirectly purchasing BTC until we hit a point when they have heard of BTC and are directly purchasing it.
Jump to: