Banks can buy bitcoin, but they can't print more of it out of thin air.
That's the problem with dollars.
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Banks can buy bitcoin, but they can't print more of it out of thin air.
That's the problem with dollars.
Can they make their own coins and blockchains though and then convince a massive number of people to buy-in or in time, make it a compulsory shift? Can the massive hedge funds and pension funds put their money into the banking coins?
And they could influence them to fork a few times effectively multi folding the amount in circulation:)
if someone offered you triple for all of your coins now? Would you take it?
if the market cap is 170 now, the banks need 510 to buy the market. They only really need a lot and never put it for sale again while at the same time creating their systems for their customers to invest in. Once that is done, there will be some very rich people with a lot of cash. What will they do with it?
I don't know if that works but the US bailed out the banks to a tune 3 times that in 2008.
Yes, i would sell it for double actually. As i had quite bit of luck day trading, just my budget is ridiculously small.
This comes back to a point, where i some time in the past i have said said that the whole blockchain project is run by some government. I do not know which one:) Figure.
Just so many people are hyping that banks and government is scared of BC. Let's not be funny, you have just mentioned two numbers here. Blockchain market cap and worldwide economy, which is more of 150 trillion but different sources give different estimations. That 100-150 trillion is just half of the amount because of grey market and because nobody knows how much money has been actually printed.
So. Once scenario. Lets admit governments and banks are scared of blockchain impact :) With a snap of a finger, they buy up all market cap. All if it. That miserable 170 billion. With the money they have just created if needed and hold it. What would the rest trade? It will take time to mine new blocks, to create new currency but there will be none in circulation. It's just an assumption, does not mean i am right:) But you can prove me wrong of course.
I am with you on that. ^
I have often wondered if it is just a way to identify and categorize potential dissidents globally. I like a good conspiracy but I don't think it is too far fetched to imagine.
Good questions. I investigated moving my AUD $50,000 Superannuation into bitcoin when it was at $50.
There wasn't an 'acceptable' vehicle, so despite being 'mine', I missed out on a couple of million dollars.
It's up to about $54,000 now.
Hope they're not expecting me to fall over myself with grovelling praise for their 'guidance'.
Yep. They will catch on fast in my opinion.
Yes, they can. I suspect they will destroy the point of having a blockchain by having only trusted nodes on their blockchain, but they will be able to use the buzzword "blockchain." If they don't have trusted nodes, I suspect their coins would get hacked by a 51% attack.
No. they would never! the banks and governments have more honor and integrity than to hijack ideas and manipulate them for their own gain. you must be crazy... ;)
No, they can't make such things even blockchains since they depend upon Government policies and funds. Bitcoin prices are not stable, so I can't say for your second question.
Very true indeed @mattclarke, and thanks for this article @tarazkp!
I knew Wall Street was on their way, so I've been smashing some bills into Bitcoin lately... plus for the two upcoming free airdrop coins as well!
I hate to burst your idealist bubble, but mining and proof of stake which result in inflation are exactly the same as a government supplying extra currency.
Except when it's constant and fixed and when the new currency goes to those supplying a valuable service.
All that matters is market cap. A fixed supply will just inflate to higher prices.