Bitcoin Value + Bill gates

[Arty]

Would would happen the bitcoin Value if Bill Gates Converted all his money into Bitcoins? it would drop right?
 

[FireFox]

So basically convert all of this $80 billion or so into Bitcoins?

 

 

[Syntaxvgm]

By dropping you mean bill gates fortune  then yes

[slightlyjaded]

Would would happen the bitcoin Value if Bill Gates Converted all his money into Bitcoins? it would drop right?

 

Would go up as it would be seen as more stable, and backed with more resources. Agreed value of any currency is about perception, fort knox doesn't actually have enough gold in it to bankroll the US economy, but as long as people see the american dollar as being strong, it will be.

 

Also the more you buy of a limited stock the higher the cost of the remainder is to buy.

[Norman_the_Owl]

Well, value might go up with such a high profile supporter

[Arty]

So basically convert all of this $80 billion or so into Bitcoins?

 

yes

By dropping you mean bill gates fortune  then yes

lol

[Arty]

Well, value might go up with such a high profile supporter

 

 

Would go up as it would be seen as more stable, and backed with more resources. Agreed value of any currency is about perception, fort knox doesn't actually have enough gold in it to bankroll the US economy, but as long as people see the american dollar as being strong, it will be.

Hmm,, You think if we asked he would try ?

[Norman_the_Owl]

Hmm,, You think if we asked he would try ?

No

 

 

Edit: I really wish, but now

[Arty]

No

 

 

Edit: I really wish, but now

nice profile pic 

what about if the top 5 richest backed it? would it be pretty a strong currency? 

[Oshino Shinobu]

Bill Gates could buy all of the Bitcoins in circulation at their current value and would still have £50 billion left. That's a scary amount of wealth. 

[Arty]

Bill Gates could buy all of the Bitcoins in circulation at their current value and would still have £50 billion left. That's a scary amount of wealth. 

thiers only 3.5B us dollars worth in circ though i thought?

and they could "make more xD" but then it would drop,(not econmist idk)

[Ertman]

Prices would immediately go up due to increased demand (billions of $ into BTC) and limited supply available currently. After that it will go back down, to what value, I have no idea.

 

Bill gates transferring over all his wealth to BTC does not create a stable backing of the currency, only through use in exchanges for goods and service will the currency find stable support.

[slightlyjaded]

thiers only 3.5B us dollars worth in circ though i thought?

and they could "make more xD" but then it would drop,(not econmist idk)

Depends on how they're funded. If somebody dropped 50 billion on the production side, and then distributed them as payment for work done (actually how new bitcoins are generated) Then the market would fluctuate normally.

 

If some hacker "created" 50 million in bitcoins then the bitcoin would die a rapid fiery death.

[Fred Castellum]

thiers only 3.5B us dollars worth in circ though i thought?

and they could "make more xD" but then it would drop,(not econmist idk)

Rich people tend to have money stored in various banks around the world lol.

[Oshino Shinobu]

thiers only 3.5B us dollars worth in circ though i thought?

and they could "make more xD" but then it would drop,(not econmist idk)

There's about £2.8 billion ($4.1 billion) worth in circulation right now. (around 14 million coins at a value of £200 [$300] each)