Post
Topic
Board Bitcoin Discussion
Re: Another reason bitcoin will succeed: US to target Putin's $40 billion stash
by
bitebits
on 21/04/2014, 07:14:40 UTC
Really interesting thought Peter R. Think it is beyond our imagination what happens of some Francs from the Swiss mountains are moved into bitcoin.

Now lets pretend we are Putin, and he wants to move one billion from his Swiss bank account into bitcoin. Lets try to help him, because I really see a few hurdles:

- Volume on online exchanges is way too low: getting 2 million bitcoins is near to impossible
- Therefore the price of one bitcoin needs and will rise, so less bitcoins are needed. But this only happens because of the one time instant demand, and likely pops afterwards. Not really a safe storage of value, when 50% of your Francs are happily converted from bitcoin again in fiat by all the current bitcoin holders.
- Think it would maybe be interesting to get a deal with a large mining pool?
- Better ideas?