Topic: Now it's an all out war : Government Vs cryptocurrencies - page 2. (Read 827 times)

a lot of news against cryptocurrency, and that always happens when the price of Bitcoin starts to rise, and the government seems to oppose it, but I believe the government doesn't want to fight this, they also realize that cryptocurrency cannot be ignored, and inevitably they have to be involved, not just about cryptocurrency and the government, but how can the government be in line with the development of cryptocurrency..

The draft that was published somewhere on the internet was a new one. It has nothing to do with the ongoing hearing of crypto regulation.
There is no genuine source for the uploaded draft though and hence I think it's just a FUD since there is no official announcement as such.
The 10 year jail part is an old news though which was a part of the ongoing crypto regulation hearing.

But I don't think, why is the government doing all this? is there something wrong with cryptocurrency? The government only reasoned that the existence of crypto would increase the network of crime, there was no regulation, etc. But I see there is no difference with the fiat they make, there are still many crimes that exist and regulation issues I think are not necessary because cryptocurrency is an innovation of new technology. It sounds strange if they have to ban technology.

I think I could call it an all out war against Bitcoin if "all" forms of government in the whole world are against it including the countries that are for now it's allies. In my belief this has somewhat happened already, India making a bill to counter crypto, remember the Chinese government made statements and actions against it, the same thing will happen and it will backfire, leading to Bitcoin's another massive dump then comes with the Bull.

what is going on at the moment is a war against different companies to prevent them from becoming banks without actually becoming banks. if you look at the Trump tweet that started all this you can see that he is pointing out the problem with Facebook and the fact that it is becoming a bank without abiding by banking regulations and they are printing money which is not allowed by law.
i wouldn't call this a "war against cryptocurrencies". it is a war against companies who are trying to abuse this hype and make millions.

Sounds more like "Government Vs cryptocurrencies" and not bitcoin alone.

I think at this point all it takes to call off this attack is to have some type of regulation for cryptocurrencies, I know it's a decentralized ecosystem which has proven itself to work but you know there is that group of people standing on the sidelines(the law abiding type that goes by the book, possibly institutional investors) waiting to join in but these indirect threats won't allow them.

And the only way these people are playing it smart is by staying away, crypto doesn't work or need this....more people more valuable it gets.

And AFAIK since most countries are governed in the lines of democracy, that makes the government us the people so we can fine tune these regulations.

All should be be expecting this kind of hardline stance against crypto, after all they believed that it's going to have a big impact on them specially the banking and financial systems.

So I won't be worrying about it, crypto is decentralised and I doubt that it can be stopped by just a simply tweet or even if US lawmakers are trying to look at it by scrutinising every detail like Libra coin. Government is just protecting itself, but we all know that crypto is very positive.

I think the government has a beef with Facebook Libra coin and not bitcoin itself. Maybe they don't trust Libra coin enough to know how it will turn out in the future, because of Facebook repeated breach of privacy policies and now they want to take control over finance, it's going to be difficult to trust Libra team.

Trump seems to really want the dollar to be king. all those who are confronted with their country are always invited to war, they have many trade wars with many countries, and many parties also adhere to what the US government does. but crypto is different from others, crypto has been opposed since its launch, but crypto has survived and even always developing

The war has started many years ago in my opinion. How many banks do we have that has a hard line stance? So for me this is nothing new, the war has been enraging for many years now. It we took Trump's tweet as negativity then this is just another flame on the ongoing Gov't vs Crypto battle.

I don't think it's an all out war between government and cryptocurrencies at all. There's a lot of things that will hinder the government from stopping the usage of cryptocurrencies.

1. Cryptocurrencies are electronic assets. They are intangible assets.
2. Cryptocurrencies are decentralized. The government will have a hard time tracing who are holding such cryptos.
3. Cryptocurrencies are already widely used. There are already companies that include cryptocurrencies in their businesses. Even famous people supports some cryptocurrencies.

Also, how would BANNING works in the world of cryptocurrencies? I think, that's harder that we thought it would be.

The only thing the government can do for now is to create bodies or regulatory that will regulate the use of cryptocurrencies. The biggest reason that I can see about these chaos of govenrments against the cryptos is TAXATION. Banks lost a lot of money (just my opinion) because more people prefer investing their money in cryptos than in banks. Who even wants to invest their money for a year, and just get an interest of 5%? LOL

Not every government in each country do the things that 'against' bitcoin like Poland's government does. In my country, the Government only warn to all people by giving them caution that investing in cryptocurrency is rsiky enough because of its bubble characterism.

They have every reason to fear crypto currencies, so it's not them chasing after publicity by speaking out negatively about everything related to crypto. Not sure where you got that from, but that's false.

If they did it for publicity sake, it would actually make crypto get more exposure than ever before. Governments are genuinely afraid of how much power they could lose would crypto gain mainstream adoption one day.

The central bank of Poland paid social media influencers to create content highlighting how they lost a lot of money through crypto and how risky it actually is, which just points out how afraid they are.

We cannot win a war against the government as they have the power and capability and money to shut the entire market if they wanted to, so it is better to have a regulation with the help of government rather than fighting against the government, they could shut the entire mining industry if they wanted to and if that happens we all know what happens to the fate of bitcoin, if there is enough pressure from top countries any country that support bitcoin could change that, we have seen that with Liberty Reserve and other similar financial solutions.

more apesifik is the war between the government and the crypto world.  the government is worried that fiat and national currencies will lose their role.  and the reality of fiat currencies has a narrow and limited role.  fiat volatility is very low and cannot create profits.  I think, the crypto world will be the winner in the future.

See it this way: In the past, religion and state were one and the same. Proposing their separation would be akin to an act of heresy... And everyone in power would object to it, especially the monarchs who were blessed by said religion.

Think of it, what is the current religion of many? Money. Now we are proposing separating money from state, in a way, its a recreation of the past, and yes, they did oppose it...

Still the number of countries in opposition is surprisingly minimal after a whole decade. We should always take a look at wikipedia:

Legality of bitcoin by country or territory

Illegal in: Algeria, Egypt, Morocco; Bolivia, Colombia, Ecuador; Saudi Arabia, Iran; Bangladesh, Nepal, Pakistan; China, Taiwan; Cambodia, Indonesia.

Just 15 out of nearly 200 countries, 10 years after its inception. A system of payment made from the ground up, built to withstand governments and institutions, border-less, secure, intangible, yet verifiable unique. Its just math, essentially. Geek triumph?

Countries that ban it are fools, they are simply telling wealth to go elsewhere. Its like they are too rich or something, very ironic given most in the list are rather poor, but it does tell you one of the reasons they still are.

Because Libra is centralized, its easy to destroy. Bitcoin? You have no rich man, or company to go after, you can never catch its creator, and even if you did, you could never stop his/her creation, not even him/her can anymore. The genie is out of the bottle, there is no turning back, you can't undo history.

Embrace it and learn how to profit from it, or put your head inside a hole in the ground pretending it doesn't exist while the rest of your neighbors enjoy the benefits. Your call...

its some kind of war and its only the beginning ...

Wow, amazing you really are knowledgeable about this fact, people should really get the fact first before posting anything here glad that someone here can correct your post for giving us misleading information, like to give you merit but run out of it,

Lol government will never be against cryptocurrency in reality,all they are doing is publicity because the truth is all of them wanna have some piece of cake from the money inside crypto and that’s the real intentions of each government.pretending to be against but inside are the eagerness to have some part from the billions of dollars here

There is no war between Governments & Cryptocurrencies. Don't take serious Trump. I am sure he didn't invest Bitcoin yet, and he is trying to dump price for buying BTC.
I don't think he is serious people.