I think the simple answer is, will everybody sell them? There are some crazies out there that don't trust the government even if they offered 1 million for each BTC.
On the other side, if the gov't make a ridiculous attempt to do this, would it get passed?
Topic: What if Govt buys all bitcoins? - page 3. (Read 1692 times)
And what will happen when they do? Say i buy all the bitcoins today, Currently People are still mining. Also what point would it have. Dont forget theres also the several ALT coins. Its close to impossible, another coin can easily be made. The goverments aren't really going to buy out every crypto currency because they end up the losers.
Governments can only buy the bitcoins that people sell. My guess is that most people would probably be willing to sell around 10x the current price, but there are a lot of people who would hold on during the rise and not sell. This isn't like a company acquisition, where if you get 50% to agree, then the transaction is approved and the rest of the shareholders are cashed out. They would have to throw 10x-100x the price of the current market cap in order to get people to sell.
That seems like a waste of money, and the public probably wouldn't have it. The FED could do a lot of it, but everyone is just going to want bitcoin if the price shoots through the roof.
Oatmo
That seems like a waste of money, and the public probably wouldn't have it. The FED could do a lot of it, but everyone is just going to want bitcoin if the price shoots through the roof.
Oatmo
yes . If they wanted to
http://www.usfederalbailout.com/
trillions of $'s...what is 1.5 Billion in comparison?
http://www.usfederalbailout.com/
trillions of $'s...what is 1.5 Billion in comparison?
cmon, be serious here. All the goverments today cant even afford to run their own countries effectively. Do you honestly think theyre gunna waste millions on bitcoins?
If large Govts bought all available bitcoins in an effort to wreck BTC it would be a drop in the bucket for them. ( and the Fed would only need to print the $ to do it) They would also be in a position to manipulate the market.
Furthermore if they embarked on mining using their massive resources it would probably push ALL small miners out of business.
Therefore BTC can not be regarded as a serious threat to their currency monopoly, merely an interesting diversion for the powers that rule the markets
Furthermore if they embarked on mining using their massive resources it would probably push ALL small miners out of business.
Therefore BTC can not be regarded as a serious threat to their currency monopoly, merely an interesting diversion for the powers that rule the markets
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