Topic: Bitcoin overshadowed by economic lie - page 2. (Read 1616 times)

Such decisions were made by governments to stimulate the economy, they began to print a lot of fiat money, this is a stupid step, this is just a temporary solution, instead of treating the disease, they decided to just relieve the symptoms.

It is clear where this led, it has significantly increased inflation and now we will see how they raise interest rates to stop inflation, but this does not give the expected result at the moment. With stupid decisions, they temporarily solve one problem, which eventually turns into another, and the problem is that they only want to solve current problems and do not want to think about the consequences. It would be very interesting for me to see how things would be in a country where bitcoin would be a means of payment.

After Covid-19 people have been able to realize the benefits of digital transactions. The government of a country can print fiat money as he wants to maintain the financial system according to its needs, every country's government has that power Though there are some rules to follow., moreover, due to corruption in some countries, fake fiat money has also been used. Where fiat money is printed, that money is released in the market. Bitcoin can be a perfect solution for all these issues. Because Bitcoin has a limited supply, no one can influence it. No one can increase his needs. Which will be a big advantage for Bitcoin. Bitcoin can be a big solution to get rid form the inflation. Bitcoin can also be a significant solution for domestic and international payments.

A financial system with an unlimited ability to print fiat money is outdated, it always leads to the same result, an increase in inflation. And the modern world is changing very quickly, I remember until recently everyone went with push-button phones, now smartphone is the norm for every, but only a few years have passed.

The same can happen with the financial system, everything can be updated very quickly and the usual financial system with printing presses will no longer exist. If bitcoin takes a leading position in the system, this will be a victory, since its emission is limited, but if fiat money is replaced by CBDC, then this will not change the essence, since governments will also be able to create any amount, which in the end will also provoke an increase in inflation.

If the people of a country where Bitcoin is illegal use Bitcoin, the government will surely oppress and harass the people. Because (if people learn to use Bitcoin, trust in banks and fiat transactions will go down) that's why the government prohibits people from using Bitcoin if it's illegal. So i want to say bitcoin is illegal in my country but we are using bitcoin secretly. There will come a time after 2030 when half percent of people worldwide will be interested in using Bitcoin.

The government, including in my country, often campaigns and says Bitcoin as fraud is a lie. Even though Bitcoin carries high risks and volatility, it is true, but that does not mean it is a scam or a Ponzi scheme. Bitcoin is a decentralized digital asset that allows the transfer of value without intermediaries, which is known as blockchain technology. However, like any other investment, Bitcoin is subject to significant risks and price fluctuations, so investments must be made with care and tailored to each individual's risk profile. The government should educate the public like that, not the other way around.

The government lies to mislead many people to choose money and create economic lies as you mentioned through the negative propaganda of the Bank. The government should offer various options for investing, including bitcoin, so that in the end the final decision still depends on the preferences and risk profile of the individual people.

Banks will not go bankrupt if there are no cases of economic crises, trust and regulations that harm them. Banks only control third-party capital as service providers, so the economic crisis and public trust are very influential. Imagine if everyone withdrew all their money at the bank, then it is certain that the bank will quickly go bankrupt, although cases like this are rare because fiat is still quite needed by the community.

As the adoption of bitcoin expands, it is not impossible that people's trust in banks will decrease, moreover, there are many problems faced by banks today, especially services that have problems almost every week. There will always be pros and cons in any system and even in bitcoin, but it depends on how they are resolved and what advantages are offered to users.

Bitcoin is an asset that the government has always been against, because they are worried about bringing down the old system and if people are being honest that's why regulation has always been pushed. However, if you take a closer look, bitcoin does not act as an opponent but a partner for fiat to push each other. Real proof that in my country bitcoin is taxed and we have to convert bitcoin to fiat when transacting.

It is this mindset and concern that is continuously being circulated and actually I don't think that far ahead, because people have their own evaluations of bitcoin and fiat. Honestly or not bitcoin provides a choice for the public and fiat still acts according to its function.

Truth is not a matter of how they issue something, but when used they provide convenience and its own benefits. That's why bitcoin is getting wider to adoption at this time and of the many advantages it offers.

I agree with you two that even without an economic crisis, some banks would go bankrupt, and depositors would lose money. But to be fair, it cannot be said people's trust in banks is almost zero, that is not true. That will never happen even if more banks fail, as long as people continue to trust the government, they will still trust the bank.

Using bitcoin to evade taxes in your country will not make bitcoin legal, that just makes the government hate bitcoin more. Another thing is don't expect to go against the government, they are still the most powerful people in your country.

Bitcoin or banking both have pros and cons, no one is perfect, and they have their own use cases. Use both for the right purposes, and we'll be safe.

I'm guessing that you live in a place where your government is opressive..at least to an extent?  If so, don't people realize that, and then think to themselves, "well if my government restricts much of what I do just in general, and try and control us..wouldn't it be the same thing with what they are telling me and our citizens about bitcoin?"...maybe this isn't the case for you OP...but it is for a lot of people across the globe..and I just always wondered if people put two and two together.

There has been a lot of irregularities in the global banking system, especially in my country and in your country, public and private banks are suffering from insecurity. Last year among the Bangladesh Central banks several government banks including Islami Bank Limited Bank went completely bankrupt and the public confidence in the bank was almost completely zero. In this case, people withdraw their savings as much as possible from the bankTrying to invest in places especially people in my country are investing in bitcoins by avoiding government tax it is positive for bitcoin as well as negative for government. If this continues then in the distant future government and private banks including Bangladesh Bank will become unpopular and people will no longer want to store money in banks. So I am the future for BangladeshI don't see any far-fetched thinking about Bitcoin adoption. It is certain that there will be a positive discussion on the legitimacy of Bitcoin in Parliament if there is a positive response from the government.

If you notice one thing, you will know that many banks are going bankrupt every year in our world or abroad. And the money of the bankrupt bank is the responsibility of all the people, so in the current situation people's demand for the bank is decreasing. (I saw in a news media that there are about 26 bank failures every year across the country). So people are giving so much credit deficit and people of different countries are interested in accepting this Bitcoin because it has very less chance of loss.
Although profit and loss exists everywhere so I think investing in Bitcoin will be a little less risky. (Because keeping money in the bank can lead to a total deficit, but investing in bitcoins has a very low chance of a deficit). Recently some time ago in my country also bank went bankrupt (Islami Bank Limited) due to which I discussed Bitcoin with my friends and they are interested in adopting it.

I am also a citizen of the country you are talking about. A large number of the people in our country had a tendency to save money in banks. But since the reduction of interest rates and inflation, people are not willing to keep their money as significantly as before. Moreover, the country's stock exchanges are down trending. Gradually investors want to get rid of the conventional situation. In this situation they are looking for an investment that is reliable and self-regulated. Stock Exchange does not have its own regulation. There, a variety of regulatory policies from the central level have often pushed the market further down. Now investors want a release from the govt. regulatory agency. The good news is that many of those investors have learned about Bitcoin and are investing in it.

Today we are proud to say that a large part of our country's investors have invested in Bitcoin. Some are holding there and some conducting trading. The number of investors increase tremendously in the crypto market everyday from this country. They think that Bitcoin can be their only weapon to survive this war of inflation.

Even right now media still constantly feeding wrong information the way before they always state that people get scammed in Bitcoin which is always misleading and we that we know the real information on this are just laughing and at the same time frustrated to why they are still keep insisting that bitcoin is scam. They are really scared of Bitcoin that really is but again there are now a lot of countries accepting or adopting Bitcoin which means those doubts will be gone soonest

Bitcoin has been around for almost 14 years as of today. Now people have come to believe that Bitcoin will not end easily. Day by day people are increasing their faith in Bitcoin. Day by day more and more people will be interested in Bitcoin. People will then feel free to start investing in Bitcoin. Although people are very interested in Bitcoin and want to invest, seeing that it is banned in their country, people are afraid to invest.

In countries where Bitcoin is illegal, if people start investing heavily in Bitcoin, their government will see that people are so interested in Bitcoin. Then the government of that country will make it legal.

Never say never.

Big changes sometimes can happen and do happen.. and sometimes those changes are violent and sometimes they are peaceful... some times they happen quickly, and other times they might take 20-50 years or even longer.

So, yeah, if a change happens in 50 years, then for all practical purposes, you can say that you were right, no change happened in 50 years.. but so what,.. there are already dynamics in motion that make it difficult to predict various changes that are likely to occur including a lot of gravitation of fiat value into the dollar from each of the collapsing currencies, and then after all (or most) of the other fiat currencies collapse, then the dollar will collapse too.. it's just a matter of when, not if... especially if you understand the precariousness of the current inflation, debt and money printing system that is lacking in soundness (and backing).


Ok... you are saying the same thing as me.  They are not going to willingly want to legalize bitcoin, but it seems quite likely that either bitcoin is going to end up being legalized or some other sound money that is similar to bitcoin. .and there is no replacement candidate that is even close to as good as bitcoin, currently.

Bitcoin will never be legalized in my country (Bangladesh) because inflation is the most talked about issue in my country right now. In the last 13 years my country's currency has had 160% inflation. The rate of inflation after 2025 will be 200% due to the way the prices of various daily necessities are increasing and increasing in my country. That is, in 2023, it will take 200 tk to buy the product that costs 100 tk in 2025. So in the current and future situation in my country, common people will be forced to invest in bitcoins instead of depositing money in banks. Because in my country investing in Bitcoin will be much more profitable than keeping money in the central bank and the investor will have full control over Bitcoin. But for now the Bangladesh government is not taking any far-reaching plan to legalize Bitcoin but the government will be forced to legalize Bitcoin in the future.

Most of the world's population is still out of Bitcoin. Moreover, the governments of different countries are still not able to accept it. BTC has not yet been able to reach that goal due to their various negative constraints. But the positive thing is that Bitcoin is still moving forward. While the world is fallen in the trap of inflation and losing value to fiat currencies, Bitcoin is holding its place. Even when people are losing faith in the banking system, Bitcoin is acting as a bank. Bitcoin is playing a silent role when many financial institutions are running misinformation about Bitcoin as a competitor. But the positive thing is that Bitcoin is moving at an equal pace. Gradually people of the world are gaining knowledge about Bitcoin and gradually they are able to trust Bitcoin. And as a reflection of this, Bitcoin is getting legal validity in different countries.

That's because whenever there's a ponzi scam that used bitcoins or any cryptocurrencies as their main props, the media will take the advantage to highlight the name bitcoins in headlines as if it's the main culprit to scam those people but in reality, bitcoins and crypto are also victims of the said scams. The majority of people who see that will gonna think not to go near whenever bitcoins are talked about and they will miss the opportunity to invest and also lose interest in whatever good you said about it. But those who know the reality won't gonna paid much attention to the mainstream media rather they'll do their own research and ignore what other people say especially those hostile against bitcoins.

I have known Bitcoin for half a decade. At that time Bitcoin was at its highest peak. Even so it has not been able to touch more than 10% of the world's population to take part of Bitcoin.

Indeed, the system that exists in the world today is a form of manipulation by those who control the world. I believe in conspiracy theories that say that in the world there are certain people who control humans through the economy.

I believe BTC can provide something more honest and fair than current FIAT money. But there is a lot of negative news about Bitcoin. I believe there are people playing behind all of this. They participate in Bitcoin and worsen BTC's image in the eyes of the world community. But I believe in the next few decades people will know the value of Bitcoin and it will be the downfall of the people who control this world.

It cannot be said for sure that Bitcoin will be valid worldwide one day, but 70% of people in the world will know and understand Bitcoin well one day. Governments of various countries around the world have already taken groundbreaking steps which can be understood when you see the direction and groundbreaking steps taken by the President of El Salvador Nayib Bukele on Bitcoin. He has already exempted all taxes on Bitcoin and is considering implementing Bitcoin in the country's education sector.
President Nayeb Bukele has organized several term courses on Bitcoin at university level and so far they have started courses on Bitcoin and Lightening Network with about 54 students. Experts are optimistic that Salvador will rule the world's only Bitcoin in the not-too-distant future.
However, due to various political and economic issues in my country, it cannot be said with certainty that there will be any positive response to Bitcoin by the government and government banks in the future. But one thing is clear that as a result of the interest shown by the people of our country secretly in Bitcoin, the government of our country will be forced to legitimize Bitcoin either intentionally or unintentionally in the far future.

Another 20 years will pass but some people will still not trust Bitcoin. Bitcoin is a digital cryptocurrency whose price will always fluctuate more or less. We cannot be disappointed. We have to believe that success can never be achieved without risk. And now it is heard that the bank is closing due to bankruptcy. Gradually people will lose confidence in banks. At some point it will be seen that most people will trust Bitcoin and invest in Bitcoin.

 
I got the idea about Bitcoin a year ago. Bitcoin is not negotiable where I live. Bitcoin is still illegal in my country yet I cannot stop investing in Bitcoin even though it is totally banned. Caution should be exercised when investing in countries where Bitcoin is still illegal.

Slowly I think Bitcoin will be legalized all over the world one day.