Doubt a nation state would buy at market rate. It would have a longer term purchase plan or some bulk OTC order that didn’t move the price much.
There is a lot of bitcoin on exchanges, enough to easily satisfy billions in purchases.
Daniel suggests a nation state could buy enough bitcoin to price out all legit use of the network for a month or 20 by just pegging the fees above $100/tx.
https://twitter.com/csuwildcat/status/1655399304268218369
How realistic or damaging is that? What would happen?
So miners would be happy and expand their capacities for sure but would the price crash? Would adoption drop?
Discussion
No replies yet.