Topic: More Money Problems that Bitcoin Solves (Read 596 times)

Not at all. I dare to suggest that you are mistaken and the reasons for denying bitcoin by governments are completely different. Your version seems too naive to me. Governments don't want to mess with BTC due to their lack of control over cash flow (BTC is still digital money, right). With the help of ordinary money, you can control people, and decentralized bitcoin gives freedom and financial independence. The term financial independence sounds a bit pompous and can often be heard on the forum, but it turns out really so. No government will be able to freeze your account or cancel your money transfer while using BTC.

Bitcoin and cryptocurrencies are not ideal. Just look at the current situation with horrendous transaction fees, but traditional money is also far from all right. In the case of BTC, there is at least a choice, and whether to accept it or not is up to everyone.

Oh, just don’t talk about laundering and other types of criminal activity with which bitcoin is associated, as this fake is being spread by the media and BTC-haters. This has been discussed many times. Traditional money is what is used in all illegal acts in the first place, but governments for some reason don't cancel it, do they.

bitcoin doesn't experience inflation that's one pretty good statement. the problem is that until now bitcoin is not easily accepted in any country even countries are starting to burden crypto with taxes eliminating crypto as a decentralized asset like before why is it now under government control. and it looks like for bitcoin to beat fiat it still isn't enough even if bitcoin is pretty good at some financial things.

The reason why governments are cautious about embracing Bitcoin and other cryptocurrencies is because they are still relatively new and untested in terms of their ability to provide a stable and reliable medium of exchange. In addition, Bitcoin and other cryptocurrencies have been associated with a number of issues, including volatility, price manipulation, money laundering, and other criminal activities.

Banks are developing blockchain technology to use it in different services but these are not related to bitcoin. Bitcoin does solve the problem that inflation has shown and also how we can easily send and receive money in decentralized censorship-resistant manner. Banks were also not that complicated at one time, just that the trust factor always needs to modified to avoid and work through the different illegal things that humans come up with.

Overall bitcoin has been a tech for the future and it will exist alongside fiat.

The presence of bitcoin is a solution to the complicated and complex transactions that occur in this world, all transactions are recorded on the blockchain so it's easy to track, although banks are also innovating to maintain fiat but I believe decentralized system users prefer more than fiat.

Now there are even no more problems with the issue of fees because there are so many ways to exchange one currency for another. So that there are more options that can be used by everyone when they explore one country to another, but the presence of Bitcoin does provide a solution with more different options than what already exists.

And even now there are also several countries that are starting to want to adopt Bitcoin which can be used by their citizens for all payments in their countries. Which has also provided examples of other conveniences to be used by citizens in any case that do not have problems with transaction costs.

Currently there are about 200 countries and there are more than 150 currencies, but the world is unified with the internet which allows anyone to transact personally with citizens in other countries, this is a problem when using currency because it creates large transaction costs, the presence of bitcoin is a solution for Faster transactions, lower fees and of course safer.

Solving the double spend problem in a trustless manner was one Bitcoin's greatest innovations. Bitcoin uses a distributed ledger to record all transactions in the network. This ledger takes the form of a blockchain, a large database. Bitcoin was created as a way for people to send money over the internet. The digital currency was intended to provide an alternative payment system that would operate free of central control but otherwise be used just traditional currencies

For the citizens there are problems and hurdles to overcome, for the people at the top fiat is working as it should and they are happy with the situation, make no mistake politicians are in that profession not to serve the public as they should but to fulfill their own agendas, they only give lip service to serving their citizens when it is absolutely necessary for them to do so, like when they are looking to get elected, but make no mistake they do not care about us.

The most frequent problem with fiat is that the value continues to decrease or inflation, it's time for many countries to immediately legalize bitcoin which is proven to be simpler and better in transactions and the security system is also better than banks, if we don't want to make changes then mistakes and problems in finance will continue to repeat and increasingly difficult to overcome.

Everything the government cannot put their control over, they don't give a sh*t about it. They are even very scared of it at one point along with the banks, fearing that people may use Bitcoin in transactions more often than using any third party money processors and banks. Until they found an alternative solution to make money out of every Bitcoin transactions by putting a regulations on exchanges and local wallets.

There are many reasons why governments don't really believe in bitcoin, such as volatility, decentralization, monetary threats and money laundering.
but actually the reason for the government of the country is like that, symbolizing that they are not really deep into bitcoin or crypto.

they think that with decentralized bitcoin, it will have the effect of crime or fraud because no one is watching and it is not detected.

even though the bitcoin system is not that weak, it can be said that bitcoin is one of the strongest systems.
in essence, the governments do not fully understand the ins and outs of bitcoin or crypto as a whole.

I need to repeat this, Bitcoin isn't a free money where you can get in easy way and become a rich person in very quick except you're an early adopter where you can claim faucet more than 1-2K Satoshi for every minute. Right now faucet is still exist but there's no way you can make money from 1-10 Satoshi, maybe it's when Bitcoin price already hit a million or billion in the future.

You can make borderless payment using Bitcoin, but actually digital money can be used like that.

In order to spread it, we need to first make sure that it goes high enough and stay there enough. I am not sure if we are going to end up with anything good by spreading it now when it is so low, there are people leaving the market right now, let alone bring new people in. So in order to make sure that we spread the name of crypto everywhere, first we need to buy it ourselves, if the people who believe in it end up investing right now, then it would make a lot more sense towards anything regarding crypto.

I believe that we should see it at 30k+ at least to start spreading, so that we could say it's recovering and people may take another look at it for the time being, would definitely help.

Financial Inclusion – Facilitates access to financial services for people who are unbanked or unbanked.
>> Well, to be honest, a controversial argument. It's hard to imagine where it could be? In very poor countries? So a person does not have deeng either on a computer or on a hardware wallet. If a person with a bad credit history / a scammer - so he will "throw" them into bitcoins ...

Reducing the cost of the transaction - without intermediaries, international transfers are too cheap.
>> also a moot point. With Visa Platnum, I don’t have commissions at all, while excellent leverage with 55 days at 0 rate, and installments for purchases up to 24 months with an installment cost of up to 1% for 24 months


Improved security and immutability - thanks to cryptography, transactions are protected and cannot be forged, which reduces the risk of fraud.
>>This technology is already being used both in the financial sector and, for example, in noarial offices. But in relation to real transactions and money.


Increased Transparency – Since the blockchain serving as the ledger is public, this increases the transparency and accountability of the transaction.
>> So here 90% scream for anonymity and "I won't show my transactions to anyone!!!!"


Inflation Protection - With a fixed supply of bitcoins, this helps protect against inflation by ensuring that the value of the currency does not decline over time.
>> Do you recall the story about the course of 18,000 dollars and then 3,000 for 1 bitcoin? And then 90% of home users leaked it for 3000-6000, and then bought it again for 60.000 ))

Decentralization – Because Bitcoin runs on a decentralized network, it can provide a certain degree of immunity from government and central bank financial policy.
>> If you live in a state, there will be no pseudo-currencies UNGOVERNED by the state. The Western world will definitely not allow it. And for example, such "fighters against capitalism" as North Korea and the like - generally introduce TOTAL control over their citizens. Where is the place for decentralization and immunity?

Understand - no state will ever use a currency that they cannot fully control. You just do not quite understand how the state and monetary policy work. don't be offended...
I will explain with an example - explain to me how, with bitcoin instead of the national currency, for example, such a problem will be solved: the global financial crisis or a pandemic like Covid-19 - how will you provide social financial support without "printing money"? Describe the process, in a non-inflationary model, with a fall in industrial production, tax revenues and other things, but in compliance with "fairness" and the payment of pensions, salaries, the organization of medical care and financial assistance to those in need and victims?

I get your point of view entirely. Seeing governments fail to properly see the promise of bitcoin and other cryptocurrencies is disheartening. When making judgments concerning the money, however, governments and financial organizations must weigh a number of considerations. They need to take into account issues like monetary security, consumer safety, and the suppression of criminal activities like money laundering. Change is slow because maintaining that equilibrium is difficult. Or they just simply scared of bitcoin

The advantages of bitcoin are real, and I've experienced them myself. I had a hard time sending money to my relatives in another nation due of the exorbitant fees and lengthy wait periods. However, thanks to bitcoin and other cryptocurrencies, I can transfer funds swiftly and cheaply. In addition, because it is decentralized, there is no risk of inflation or monetary policy changes by the government.

Keep in mind that both bitcoin and traditional currencies may exist side by side. In reality, more and more merchants are warming up to the idea of taking bitcoin as payment alongside more conventional methods of exchange. And as more people get familiar with bitcoin, governments are more inclined to take it seriously and look at methods to regulate and incorporate it into the existing financial system.

Even if we can't predict when or how, I'm confident in bitcoin's and other cryptocurrencies' long-term success. It is up to us as individuals and as a society to spread awareness and encourage widespread use.

They are waiting for the BTC to disappear. They can't allow something they can't control. And BTC being decentralized is their main fear. They have no control over it and they can't track your transaction if you choose not to disclose your information. This is the sole reason why the government is not allowing BTC to be legal in the first place. And to cover up that, they are showing these lame reasons.
I came across a discussion on my local board today and @Little Mouse has a great example on this.
The translation is somewhat like this:
Pablo Escober owned 30 billion dollars at that time. It is told that, when his daughter Manuela suffered from cold, he burned $2 million in order to keep her warm.  source
All that Pablo Escober had was black money. He was the biggest cocain dealer in the history. He had done all his deals with Dollars or golds. But neither the dollar nor the gold was banned.

In 2009 over $300 million were seized from drug dealers, and obviously they were not Bitcoins.

So the thing is, we need to control criminal activity. Wheater bitcoin exist or other currency, these criminal activity will still continue. Or the illigal transactions. So the Bitcoin is not the problem. The problem is, criminals using it for illegal activites.

So from my understanding from this is, the problem is control. If they can't control something, it's illegal.

Adopting directly in a pure manner will make them lose their control over people and economy, that's clear. But it's wrong to say that government doesn't let bitcoin to coexist with the traditional money because average person has no problem with using bitcoins.
Major players in the crypto market are the following companies Binance, Coinbase, Kraken, etc. All of them are centralized and very popular, highest percentage of crypto users use these companies and their services. These companies ask you for KYC verifications, they track your transactions, they even offer cards to track what you buy in the supermarkets. They are regulated companies! Doesn't this mean that the government has whole access on your info even when you use bitcoin through these exchanges? Majority of users prefer easy and simple solutions and these solutions are provided by the centralized companies. So no, only the form has changed, otherwise they aren't different from traditional banks and tracking systems. This way, bitcoin will coexist with the traditional money without a single problem.

The fiat system gives the government the power to govern people's lives and while they know BTC can be more beneficial to the people, BTC is not beneficial for the government because more people that have money can actually fund a revolution against the government. They may even try to confiscate money from people including the BTC.

They are not willing to give up that power to the people.

It's clear that Bitcoin is the only financial freedom we got that has no intervention of someone or third-parties which means it's a total decentralized digital/crypto currency. If they want to adopt Bitcoin, we already have a centralized one that was being forked from Bitcoin before or they could simply use the XRP(Ripple) or Tether(USDT).

Well, not all of the government are against the adoption of Bitcoin but those who are against it are clearly saying that they can't no longer control the people because they have freedom already of using their own hard earned money.