Topic: What's public fear over bitcoin? (Read 126 times)
Untill now fear of community is to do investment in Bitcoin. Many of this this day there are some of investors is hesitant to do investing in Bitcoin maybe by the price occurring, and there government policy if capable to regulate the Crypto theirs.
The public fear of bitcoin may be a bitcoin going on in the wrong use. For example for transactions of forbidden goods, terrorist financing, money laundering. And so forth. And bitcoin is now more accurate to receive members. And the government is not responsible for any of that. Or it could be the public fear of bitcoin due to the erratic bitcoin fluctuations. So they hesitate and become afraid.
The public are afraid that when cryptocurrency comes to stay or when cryptocurrency is fully implemented that most companies will not have work again and some countries may go into recession. That's the public perception. This is not true, why? Because whether there is cryptocurrency or not people are going to participate in the activities of financial transactions. To me, the true of the matter is that some persons have failed to understand the use cases of blockchain and which area they should focus on and this is the reason for all these fear.
For me, it is not the public that is afraid of Bitcoin, it's the government. And the government controls publicity and it influences the mass population. If they say that digital currencies are not good and is a threat to economic safety, majority will believe them. The lack of central authority is what makes bitcoin itself, and it's what the governments fear for.
Control. Control matters for the government, they need to watch over the monetary transactions. They dictate banks to produce or destroy money out of thin air. They control the regulation of fiat money to control the amount of money spent on investments, savings, etc.
If bitcoin were to take over the monetary system, banks will be irrelevant, however this will have a downside too.
The public are afraid that when cryptocurrency comes to stay or when cryptocurrency is fully implemented that most companies will not have work again and some countries may go into recession. That's the public perception. This is not true, why? Because whether there is cryptocurrency or not people are going to participate in the activities of financial transactions. To me, the true of the matter is that some persons have failed to understand the use cases of blockchain and which area they should focus on and this is the reason for all these fear.
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