More Money Problems that Bitcoin Solves - page 4.

Marcellin9

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Quote from: mk4 on January 15, 2023, 04:40:01 PM

Pretty simple. Governments have control over their people/economy through their local currency. Them adopting bitcoin would make it highly likely for them lose the control that they had to a certain extent.

I am sure starting from your comment below, there will be more silimar and correct answers. You just made the point using the fewest words. Good job !

Swordsoffreedom

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You want freedom, I want freedom, everybody wants freedom, but the government doesn't want us to be free. Their power comes from controlling us, so it's no wonder they don't accept bitcoin, which will disrupt everything they've built for thousands of years. If I were the government, I would also ban bitcoin because I don't want to lose power.

Inflation is a big issue for us, not a big issue for them. Increase interest rates, and control cash flow to reduce inflation, but people bear the consequences, the government is not affected. So there's no reason for them to stop inflation altogether, inflation is like crypto winter, sometimes need to use it to reset some things.

STT

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Inflation often is a part of fiscal budgeting because the greatest effect is to ease the burden of national debt at the cost of users of that currency. The issuers of the currency are the first in line for any benefits from that new money and the further you are away from that source the more you are paying on the cost of lost value. This is part of why 3rd world countries can so easily become poor, it takes alot to fight the tide of endless new money.

Sebas.tian

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I think, many governments are preparing to listen to Bitcoin in their countries because they have heard and seen the good things Bitcoin has done in the country that made it legalized few years ago, that is making their citizens celebrating for the good decision their government made to make it work in their land. El Salvador was the first country that made Bitcoin legal in the whole world and they are doing well in all areas of financial aspect and other sectors in the country that is making other countries to follow their steps in this new year to use it to reduce inflation in their countries.

Republikcoin.com

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Quote from: alastantiger on January 15, 2023, 03:03:15 PM

Why aren't the governments of the world seeing the greater money problem that bitcoin, and not even their CBDC, can solve? Can they at least think about allowing bitcoin to coexist with their money? I'm not asking them to abandon their fiat. Can they stop hindering Bitcoin's development and begin exploring its possibilities? It hurts that they are aware of the potential of bitcoin and have decided to ignore it. The issue of inflation, which destabilizes the world, can be resolved by Bitcoin. Additional money can be printed, but more bitcoins cannot be created. Inflation occurs when there is more money in circulation than is required. This can never happen with bitcoin.

Some governments don't hinder the development of Bitcoin, but some of them also don't fully understand how the Bitcoin system is so it still takes time to make a decision and see examples in countries that have legalized Bitcoin and adopted it into legal payments without eliminating fiat. This means that not all governments think that Bitcoin is a problem, even though not all governments think that Bitcoin can solve financial problems in every country, because each country has different laws, so you need to make the wisest decision possible for this.

The development of Bitcoin will never be hindered by governments that do not agree to use Bitcoin as a means of payment, because Bitcoin can still develop gradually as long as there are people willing to use it. Especially now that there are several countries that see Bitcoin as a serious asset to be used and developed into payment systems, it is clear that Bitcoin will never die and will continue to grow every year.

uneng

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Bitcoin has to work as a side currency, while its volatility remains high. A government can't compromise the whole economical system by adopting Bitcoin and forgetting their national currency, although in some cases it makes more sense to adopt BTC than making use of fiat currencies which are incredibly devalued. The point is that with Bitcoin a country can lose or win 50% of their treasury in one day due to market's fluctuations. People in general can't live in such unstable conditions, so Bitcoin isn't an alternative for a country to adopt officially, as main currency.

Even El Salvador, which turned BTC into legal tender, hasn't seen its DCA and holding benefits yet, because on every dip the country purchased BTC, its price declined more yet. They are in an extremely delicate situation, waiting for a market recovery, so they can finally show their people Bitcoin was a good investment.

dothebeats

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That's exactly why they don't want bitcoin: they can't print out more of it. If they can, then they'd probably use it to some degree. That's what countries' economies are based on: the endless printing of money and control of interest rates in order to balance the scales so as not to have an economic meltdown. Bitcoin cannot be controlled in any way save for buying a lot and hoarding them, but that will increase its price which will again, prove that bitcoin isn't good for usage on a wide-scale when we're talking about a country's economy.

It solves some financial problems on paper, but in application it performs poorly compared to fiat. At least though, it works for individual people that looks to solve these things on a small scale.

KennyR

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No government wants to lose control over the financial system. With bitcoin into the financial system everything will be transparent and governments can't take money from the pockets of people. It is the people who decide what to be done with their money.

Governments know well about the potential of the technology and the financial system having advantages over the traditional one, but they never show interest to make use of it. Over time scenario could change, but it can take generations for a massive change.

boyptc

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They have learned it but they aren't willing to accept the fact that it can deal with many good things into their government.

Bitcoin isn't really for the government but for the people thus, the government that controls everything we people have, they're intervening in it. It's just a matter of time that they'll act the same as those countries that have adopted bitcoin too.

We'll see them having legislation about acceptance of bitcoin or if they don't have, they are free just to declare that bitcoin isn't illegal on their territories.

coupable

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Quote from: mk4 on January 15, 2023, 04:40:01 PM

Pretty simple. Governments have control over their people/economy through their local currency. Them adopting bitcoin would make it highly likely for them lose the control that they had to a certain extent.

But bitcoin doesn't just replace fiat money. This means that its use is not limited to trading. Bitcoin can be compared to gold and precious assets even if it is not authorized to be circulated among people. Governments cannot ignore the value of Bitcoin even if they do not recognize digital currencies in the first place. Bitcoin in international transactions between countries (not between individuals) provides much better facilities and guarantees than what the financial system currently offers.

Yatsan

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Have been asked numerous times. There are many reasons why Bitcoin is not widely accepted as a mode of payment. Firs is decentralization wherein governments won't be able to tax every transaction unlike with fiat or fiat based digital currencies. Next is the risk involved with market price volatilty. For sure not every people would be interested to invest and out their money at risk; the price moves a lot which can yield to losses at any moment. There are even businesses which accepted cryptocurrencies as mode of payment but eventually stopped doing so, simply because they cannot sustain the business by holding it whenever the market price is low. These are only few reasons why, and I guess we are not yet ready for total adoption of this technology.

Smartvirus

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Quote from: alastantiger on January 15, 2023, 03:03:15 PM

Why aren't the governments of the world seeing the greater money problem that bitcoin, and not even their CBDC, can solve? Can they at least think about allowing bitcoin to coexist with their money? I'm not asking them to abandon their fiat. Can they stop hindering Bitcoin's development and begin exploring its possibilities? It hurts that they are aware of the potential of bitcoin and have decided to ignore it

Like KingsDen has rightly stated, the government don't care any bit about you. With the amount of resource available to them, it's hard for them not to accept the fact that, a lot of good can come from bitcoin or cryptocurrencies to its people. That's why, they've got a similar innovation in the CBDCs to fill in but, the ideas behind is what hinders its progress.

The government is about control and nothing scared them more than loosing control of its people and most of all, to its people. This is the idea bitcoin comes with, the idea of freedom of finance and that has been the major element of government's grip on its people along with its military power.

With cryptocurrency having a decentralized system of operation, it makes it a direct enemy to the government but the thing is, you can't fight freedom!

KingsDen

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The BOLD TRUTH is that the government doesn't care for you as much as you thought they do.
They don't give a shit of whatever solve money problems. In the first place do they really want to solve money problems. If they solve the money problems, how will they extort us and keep empoverishing the masses.

If it is not what they control, the government doesn't care about you and your fvcking idea or invention. If you want the government to adopt bitcoin, simply redesign BTC such that it will be highly centralized and then give it to the government

mk4

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Pretty simple. Governments have control over their people/economy through their local currency. Them adopting bitcoin would make it highly likely for them lose the control that they had to a certain extent.

Spaceman1000$

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Most governments resist using bitcoin to coexist with ordinary money because they want to create tough monetary policies and financial scenarios that would have a negative impact on the people. This is done to ensure that they can keep the citizens at bay.

If not tell me why won't any country not adopt bitcoin as a legal means of payment considering the potential that it possesses.

Every day, the IMF and the WORLD BANK will announce how this or that will have an impact on the global economy, yet bitcoin can easily fix half of the issues they are predicting.

alastantiger

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Why aren't the governments of the world seeing the greater money problem that bitcoin, and not even their CBDC, can solve? Can they at least think about allowing bitcoin to coexist with their money? I'm not asking them to abandon their fiat. Can they stop hindering Bitcoin's development and begin exploring its possibilities? It hurts that they are aware of the potential of bitcoin and have decided to ignore it. The issue of inflation, which destabilizes the world, can be resolved by Bitcoin. Additional money can be printed, but more bitcoins cannot be created. Inflation occurs when there is more money in circulation than is required. This can never happen with bitcoin.

Quote

- Inflation occurs when the money supply of a country grows more rapidly than the economic output of a country.
- The Federal Reserve changes the money supply by buying short-term securities from banks, injecting capital into the economy.
- The quantity theory believes that the value of money, and the resulting inflation, is caused by the supply and demand of the currency.
Quote sourcehttps://www.investopedia.com/ask/answers/042015/how-does-money-supply-affect-inflation.asp

When will they learn that bitcoin may be helpful? What are they waiting for?

Topic: More Money Problems that Bitcoin Solves - page 4. (Read 583 times)