Will governments have the power in censoring Bitcoin if only a few of them bankers hold and control most of the supply? For example, coercion of Bitcoin companies from making some transactions that was ordered by the government.
I believe banking institutions buying Bitcoin wallet services will become dangerous.
Topic: If the banksters and governments held 90% of the Bitcoin supply, what now? - page 5. (Read 1208 times)
November 07, 2018, 02:56:27 AM
November 06, 2018, 03:24:07 AM
There will definitely be pros and cons if that happens. The biggest con being is that it will obviously already become regulated which therefore means losing control and democracy over the actions of banks and governments on our bitcoins. On the other hand, if there will that much holdings by the banks and the governments, then there is support for bitcoin being widely accepted.
November 06, 2018, 03:19:54 AM
I don't think so. There are more and more people joining in cryptoworld, I don't think that bankster and governments can held up to 90% of bitcoin supply. It is true that government and bank really hate and want to kill bitcoin so it is impossible that they 90% of bitcoin.
November 06, 2018, 01:04:14 AM
Would it be fair enough to assume that the project has failed, or failing?
90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".
90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".
Where you got info that 90% of being held by an oligarchy of the elite?
It's not true.
Bitcoin is serious coin and serious business + mining.
"playground" can't exist in any case.
It is a hypothetical scenario, and whether Bitcoin has failed if that were to happen, is up for debate. I believe in a sense, it would fail as an open system because Bitcoin would effectively cease to become permissionless.
November 05, 2018, 01:43:16 AM
If banks and governments hold more than 90% of bitcoin, bitcoin is no longer a female bitcoin, it loses its decentralization.
November 05, 2018, 02:08:14 AM
Would it be fair enough to assume that the project has failed, or failing?
90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".
90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".
Where you got info that 90% of being held by an oligarchy of the elite?
It's not true.
Bitcoin is serious coin and serious business + mining.
"playground" can't exist in any case.
November 05, 2018, 01:37:24 AM
I think it will be very difficult if banksters want to control the majority of bitcoin assets. besides the price which is relatively very high, when they try to buy a lot of bitcoin, at that time the price will also rise. the result is that many people try to keep their assets, and many people are increasingly interested in buying bitcoin. banksters won't make mistakes like that
That is side-stepping the question, and avoiding the point of the discussion. But I understand. Some of us cannot accept the possibility that Bitcoin can fail. That is not a healthy attitude to have in my opinion. I believe we should also perceive it as a "software experiment that could fail".
November 03, 2018, 03:47:28 AM
I think it will be very difficult if banksters want to control the majority of bitcoin assets. besides the price which is relatively very high, when they try to buy a lot of bitcoin, at that time the price will also rise. the result is that many people try to keep their assets, and many people are increasingly interested in buying bitcoin. banksters won't make mistakes like that
November 03, 2018, 03:18:54 AM
Provability of scarcity, of limited supply, and a monetary system's deflationary properties might have its own downsides too in my opinion.
I believe that this demonstrates that there is no "perfect" system.
I believe that this demonstrates that there is no "perfect" system.
November 01, 2018, 08:21:53 AM
If so they will probably create price instability and we can hardly predict the market trend when the government wants to control us.
November 01, 2018, 07:54:02 AM
Would it be fair enough to assume that the project has failed, or failing?
90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".
we hope that bitcoin will not die here, I see and read a lot of people's comments about bitcoin soon to die, it's just people's speculation, but it's real if they hold 50% BTC don't play BTC or just hold on over time BTC will run out 90% of Bitcoin being held by an oligarchy of the elite, a cartel of banks, and by governments working together might turn Bitcoin into their "playground".
November 01, 2018, 07:07:13 AM
I think that most of the bitcoins are in private hands and few of these people will give or sell it to banks or governments. Everyone who believes in the development and growth of the crypto-currency market will keep them on their wallets and carefully protect them. Therefore, it is unlikely that 90% of all cryptocurrencies will be in the hands of public authorities.
November 01, 2018, 06:51:36 AM
This sounds a little paranoid and made out of thin air
I mean, a healthy awareness is only good, but what would be the point of holding?
I assume if the flow of coins stops and everybody holds it, then it's busted, right?
I mean, a healthy awareness is only good, but what would be the point of holding?
I assume if the flow of coins stops and everybody holds it, then it's busted, right?
November 01, 2018, 03:47:09 AM
I am a believer of the idea that Bitcoin will become a global reserve currency one days, that governments and corporations would be willing to make the most important of their transactions with because of its security, finality, and immutability.
to be a reserve is to lock it up and not be a common currency (IMF SDR is not common dollar. much like canadian is not american dollar)
to be a reserve some entity has to secure, hold and control the reserve because left in the hands of common folk makes it unpredictable/volatile
so trying to start the reserve. many are saying bitcoin has failed being a common currency.
Being a global reserve currency is storing a currency that governments and institutions would want to be a part of their "foreign exchange reserves" like the Dollar or the Euro, not the conspiracy theory that you're thinking.
That's why I started this topic because it is up for debate if Bitcoin failed if governments and institutions are holding most of it.
October 31, 2018, 11:25:20 PM
f that happens, then banksters and the government can control all crypto markets and can control the price of crypto currencies. this will damage the market and investors or users of crypto currencies will leave. so the crypto currency will be extinct. however, the government and banksters will need large capital to get the bitcoin that is currently on the crypto market. if they have got all the supply of bitcoin then they can control all the supply and price of bitcoin.
October 29, 2018, 06:27:23 PM
I think it is impossible for the bank and the government to sell 90% of the bitcoin unless the sellers sell it, but who wants to sell such valuable assets to others?
October 31, 2018, 10:59:38 PM
The government is very rich then if they will able to held 90% of the Bitcoin supply but if this will happen then there will be two scenarios like Bitcoin will probably going to be centralized platform as the price will become stabilized or it will be the end of Bitcoin as the government has the full disposal of it anytime but there are lot of Altcoins that are ready to step up therefore if this will become possible then still there is nothing to worry about as we will just shift to other currencies probably the Ethereum.
October 31, 2018, 12:40:31 PM
I am a believer of the idea that Bitcoin will become a global reserve currency one days, that governments and corporations would be willing to make the most important of their transactions with because of its security, finality, and immutability.
to be a reserve is to lock it up and not be a common currency (IMF SDR is not common dollar. much like canadian is not american dollar)
to be a reserve some entity has to secure, hold and control the reserve because left in the hands of common folk makes it unpredictable/volatile
so trying to start the reserve. many are saying bitcoin has failed being a common currency.
i will now leave you to your research on the depths some will go to make bitcoin not useful for common use. and instead a locked up custodial reserve.
i hope you can realise my own "reservations"(excuse the pun) about why i do not like bitcoin to become a reserve. as this topics title and your own inferred idea of the end result in such a situation
October 30, 2018, 12:56:53 PM
It is highly impossible for this to happen even though this is their primary aim before they accept crypto. If this happens, they will continue to manipulate their economies as they are doing with their fiats. They won't have total control over the economy if they accept crypto.
October 29, 2018, 01:24:34 PM
90% is a huge amount and the project will fail surely. But I don't see this going to the hands of banks and governments as there are a lot of people who holds a great amount in their possession.
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