Duke of Marmalade
Registered User
- Messages
- 4,609
To distinguish it from the other bold. A some what muted response.
Last edited:
How long before nation states buy bitcoin?
- Thread starter WolfeTone
- Start date
- Status
I'm missing something here? Did you just post an article about ransomware and tie it to illicit bitcoin use by Russians and Russian government?
Even though the article does not mention Bitcoin, Russia or Putin?
@WolfeTone : There's no need to let facts get in the way of a good old fashioned tar n' feathering! 
There's no 'supposed' about it.
You can look at items individually Duke - or you can look at the complete picture. I suggest the latter.
Duke of Marmalade
Registered User
- Messages
- 4,609
I’ll ask @WolfeTone who owns this thread. Do you think Microsoft copying bitcoin’s technology for ID management increases the possibility of nation states buying bitcoin? I can certainly see the possibility of nation states adopting similar technology for ID management but I don’t think you would equate this with them buying bitcoin or would you?
I guess if I cannot provide you with your expected specifics and you have "not a fiddlers" about the subject matter, you will be on your merry way now?
No, I honestly couldn't say that it does.
Yes, me too. But now that you mention it that way, then why not nation states buying bitcoin direct for treasury management?
I guess you'd have to ask him a factually correct question to start with. Microsoft's Digital Identity project (Ion) is secured directly on the bitcoin network. MS engineers decided to use it to harness its utility as a security layer.
Duke of Marmalade
Registered User
- Messages
- 4,609
It does not use bitcoin. It has no relevance for its value or its appropriateness as an investment for nation states.
We can all drink to that from our pint glasses. Though being in “discovery mode” sounds a bit like adolescent growing pains. In reality nobody has a clue what price it will grow up/down to be. The estimates range from 0 to over $1m. There are those who say this is an asymmetric risk i.e. far more upside than downside. I guess that is the pint glass being a quart full. I think nation states should wait till bitcoin discovers its price.
Last edited:
It relies directly on the security of the bitcoin network. Its use in this role is a further demonstration of its utility - and utility is relevant to assessing value. Anyway, that's my view. You disagree - that's fine.
There is no other way for a network and digital asset of its nature to find its value. That may be deemed to be inconvenient for some but when the overall proposition is assessed in its entirety, sovereign funds would do well to get off zero.
Last edited:
How about your own specifics, below....care to answer these questions, being your questions n'all?
Do you think nation states will start to acquire bitcoin? If yes, do you have timeframe, even a guess of when they will?
If no, do you think they are missing an opportunity to acquire a valuable assest?
This is just howaboutism. The ugly cousin of whataboutism.
I already gave my answer to you
Opening a thread with question in the title may give some indication to the reader that the poster is looking for answers, or at least trying to glean some thoughts and views of other posters that may help provide an answer or shape a view. I think all of the posters have contributed one way or another the direction of their thoughts, except yourself - you are firmly in the "not a fiddlers", howaboutery, random Guardian articles camp.
Last edited:
Duke of Marmalade
Registered User
- Messages
- 4,609
Serious question, not part of the bun fight.
My source said it "uses the same logic" which is somewhat different from your source. I wonder which it is. I would have thought bitcoin folk would not take too kindly to use of its network for other than transactions in bitcoin. (I know script can be used in this way.) Is there not an issue with scalability?
Of course does not alter my comment re its relevance to this thread.
Your Question:
"Do you think nation states will start to acquire bitcoin? If yes, do you have timeframe, even a guess of when they will?"
Your Answer:
"Yes, I think they will at some point, couldn't guess when"
You (a) didn't offer a timeline, nor (b) provide "even a guess of when they will"
@Firefly Did you read the title of the thread? Clearly, like you, I have no idea when nation states will acquire bitcoin. That is why I posed the question. However, inherent in the question is my assumption, unlike you, that they will acquire bitcoin.
So for you, as regarding the acquirement of bitcoin and/or the timeframe - you have not a fiddlers.
For me, I have taken a position that they will acquire bitcoin but I do fall short on being able to determine a timeframe. Hence the question in the title.
I will say, given some of the answers and contributions it appears that despite the initial protestations that the NTMA could not, or never hold bitcoin, the NTMA could actually hold bitcoin but are just highly unlikely to do so for the forseeable future. Although, I do think when it does happen it will happen very quickly.
Also, some other answers suggest that some nation states are actually acquiring bitcoin, but these suggestions are dampened by other views that they are not states to be taken 'seriously', or indirect ownership of bitcoin through sovereign wealth funds is not tacit acceptance of acquiring bitcoin.
And then there are your own views - Russian conspiracy theories that you unwittingly manage to debunk by yourself within a sentence or two, and random newspaper articles that bear no correlation to your statements. Summarised by "not a fiddlers".
So for you, as regarding the acquirement of bitcoin and/or the timeframe - you have not a fiddlers.
For me, I have taken a position that they will acquire bitcoin but I do fall short on being able to determine a timeframe. Hence the question in the title.
I will say, given some of the answers and contributions it appears that despite the initial protestations that the NTMA could not, or never hold bitcoin, the NTMA could actually hold bitcoin but are just highly unlikely to do so for the forseeable future. Although, I do think when it does happen it will happen very quickly.
Also, some other answers suggest that some nation states are actually acquiring bitcoin, but these suggestions are dampened by other views that they are not states to be taken 'seriously', or indirect ownership of bitcoin through sovereign wealth funds is not tacit acceptance of acquiring bitcoin.
And then there are your own views - Russian conspiracy theories that you unwittingly manage to debunk by yourself within a sentence or two, and random newspaper articles that bear no correlation to your statements. Summarised by "not a fiddlers".
Your Question:
"Do you think nation states will start to acquire bitcoin? If yes, do you have timeframe, even a guess of when they will?"
Your First Answer:
"Yes, I think they will at some point, couldn't guess when"
Your Second Answer:
"..I have taken a position that they will acquire bitcoin but I do fall short on being able to determine a timeframe."
If you cannot provide a timeframe, in your own words, can you even guess when they will?
Ok, just for you, I will take a guess. Within 7yrs.
You can offer an opinion, thought, viewpoint now? Other than glib and random comments?
- Status