If fiat/credit supply stopped growing, then house prices, stock prices, financial assets would crash significantly in value.
Popularity of Bitcoin will begin to explode with lightning in the next year.
Bitcoin's lightning network is emerging where fees will be tiny and cross-chain atomic swaps for decentralized exchange.
Bitcoin's blockchain is the only unique one to provide the most security in a decentralized, global, incentivized fashion.
All other altcoins in relation to bitcoin are worthless - more on this below;
All other "blockchains" are more private worthless databases, my old nokia phone can do worthless databases. Other blockchains are simply scams.
Bitcoin's price will be at the very least more than 4 times (400%) of todays price in 5 years.
Governments and laws are controlled by the central banks. Bitcoin is an anti-establishment revolution that has already solidified itself worldwide.
Bitcoin cannot be controlled. It cannot be banned. It cannot be made illegal. And conversely it cannot be legalized. It just simply is. And people can always use it.
Those trying to undermine and manipulate bitcoin stem from the central bank system around the world;
-the central banks dictate policy to all the operating big banks around the world and have essentially tried their best to ban bitcoin related transactions for more than four years straight, ever since 2013, and have failed at stopping bitcoin's growth, adoption, and popularity
-the central banks fund efforts to undermine bitcoin, providing plenty of capital and liquidity to private companies and venture backed groups such as Digital Currency Group (they own Coinbase, GDAX, Kraken, Bitpay, and media outlet Coindesk) and also Roger Ver/Bitmain to undermine and break the bitcoin protocol and/or manipulate trade
Above are just small examples.
First, educate yourself and then others. Please checkout the link to the bitcointalk post in my signature titled: How to teach Bitcoin to a 7 year old.
Bitcoin is a secure, decentralized, trustless and open system which cannot be banned nor controlled.
Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...
Why are altcoins relatively worthless compared to bitcoin?:
If it can be shutdown, and have assets frozen by a bank or government, there would be no value
If it wasn't secure, there would be no value.
If it wasn't immutable, there would be no value.
If it wasn't globally distributed, there would be no value.
If it wasn't so strong, open-source decentralized and unstoppable, there would be no value.
If it wasn't so scarce, there would be no value.
If it was easy to spam transactions, there would be no value
If it required a central 3rd party to function, there would be no value
If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin").
If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value
Bitcoin is on the verge of lightning network release rendering altcoins as only backup plan options if not dead.
If it was exactly like fiat and only did transactions, there would be no value.
Bitcoin's value is worth hundreds of billions USD today. Altcoins however are scams, weak, pyramid schemes not offering these values.
Bitcoin has all the characteristics needed combined to hold the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system. (more than stocks, more than houses, more than gold).
For global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc), the fiat bubble system broke a couple of decades ago.
Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with (the following whether good or bad):
-regulatory burden on fiat banks & system (incredibly costly)
-inflating fiat to keep house-prices from collapsing
-inflating fiat to keep stock market rising
-financing conflicts, bombs, and "aid"
-backstopping insurance frauds
-costs of auditors and budgetors and accountants checking the same thing in governments and businesses
-big insurance loss-events
-unemployment & other welfare costs
-stabilize regions after natural disasters
-keeping monopolies with internet access and information centralized and search engine crawlers centralized
-officially sponsored "money laundering"
-backstopping credit chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
Bitcoin, systemically, is free from these limitations and burdens.
Topic: Why are banks and governments scared of Bitcoin? - page 61. (Read 5898 times)
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Bitcoin :open immutable decentralized global fair
They are scared because a lot of investors are now invest with crypto rather than banks since they cannot earn more with their investment in banks. Crypto investment is very profitable, even me will love to invest with it.
It might take over the market from them. Cryptocurrency runs into over $300b every 24hrs around the world. This is a level of influence that one bank dont do in 24hrs. Let me say that Bitcoin has a 38% dominance which makes it more difficult for it to be manipulated.
It maybe because Bitcoin's is a decentralised digital currency that is not hidden from anyone and a alot of people especially those in the government don't want to get exposed. Moreso, the government may not be able to tax user of bitcoin. It cannot be controlled by anyone and cannot be tamed.
They can still tax the people who are in the cryptocurrency because they can just required the bitcoin or any cryptocurrency user or investor to submit a report that showing their transaction and also stating their profits from bitcoin and other cryptocurrency and that is how they can get control and avoid abusive users. They are simple scared because of the potential to get a lower power because of decentralization.
So the questions I have in mind about banks and Governments idea of wanting to control bitcoin is already raised in our forum.
I already knew that this problem might come, the government wants to control bitcoin because they might think of what they can get from here. And banks will have complains about it because this might be their biggest competitor . If bitcoins will really be known and accessed by most of us then they will lose lot of costumers.
I just hope our developers of bitcoin will have to do something about this issue because bitcoin really is a big help for each and everyone of us.
I already knew that this problem might come, the government wants to control bitcoin because they might think of what they can get from here. And banks will have complains about it because this might be their biggest competitor . If bitcoins will really be known and accessed by most of us then they will lose lot of costumers.
I just hope our developers of bitcoin will have to do something about this issue because bitcoin really is a big help for each and everyone of us.
Actually government and the bank is not scared of bitcoin because if they wanted they could just banned the bitcoin. May be the government don’t like bitcoin because there is no control unlike fiat currency.
yes that's right, banks are afraid of their customers switching to bitcoin. so banks do not get a profit and people are less interested in investing in banks. and the country is afraid bitcoin creates inflation and is used by irresponsible people.
Bitcoin also creates value for both earlier investors and for new ones, providing more and more opportunities for using currency, the amount of which, moreover, is limited. It's not deceit and not stealing, but just the good old law of supply-demand in action, or in other words, the ancient economic principle, in the service of the newest currency system.
In my opinion, here the government is afraid of BTC for fear of money laundering, buy BTC for storage because the BTC is anonymous so they always worry about that, also because the BTC anonymously should fund the terrorists is easier. The banks fear the MOF because the bank will lose a huge amount of money and deposits. People flock to BTC do not want to invest in banks. Major projects raise capital by ICO. No, it will make the banking system freeze and break down in the future.
It maybe because Bitcoin's is a decentralised digital currency that is not hidden from anyone and a alot of people especially those in the government don't want to get exposed. Moreso, the government may not be able to tax user of bitcoin. It cannot be controlled by anyone and cannot be tamed.
for fear of losing tax revenues because they will not be able to track the bitcoin transactions. So they are very interested to ban cryptos. Banks have begun to suffer losses in the revenue they earn from transactions and remittances. Also they are afraid that in the future people will completely avoid the deposits in the bank and will only buy bitcoin which will be a big loss for them.So they do not tolerate other competition in this monetary system. That's why they are afraid of the Blockchain system.
So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?
What do you think is the reason behind this?
The country do not entertain bitcoin as a primary currency because they were afraid that it might overthrow the fiat. And of course the most obvious one is they no control over bitcoin unlike fiat that the could receive taxes.
it is simple - they loose money, every year people lose confidence in banks and power, and bitcoin is at the disposal of a person, and not others
A predictable thing to make a big loss in a country if they accept Bitcoin. Deep fear.
it is simple - they loose money, every year people lose confidence in banks and power, and bitcoin is at the disposal of a person, and not others
I think the banks and the government are afraid because it is already rivaled by the popularity of bitcoin at this time and very suitable for investment in bitcoin. The government is also worried about the declining economy of a country if everyone uses bitcoin.
banks and government are scared of bitcoin because they have no control over it like the regular fiat currency which they can control and regulate. it is well known that anything government can not control, they fight but i hope in time to come they see the usefulness of bitcoin and adopt its use
Bitcoin also creates value for both earlier investors and for new ones, providing more and more opportunities for using currency, the amount of which, moreover, is limited. It's not deceit and not stealing, but just the good old law of supply-demand in action, or in other words, the ancient economic principle, in the service of the newest currency system.
Government and banks wanted to hold everything which is related to business.They are scared from bitcoin because it seems a big competitor for them.
They are afraid to miss the benefit and lose the market of finances if all go to the funds that are based on the blockchain, then we do not need banks.
The state loses profits from any project that it does not own.
The fiat currency transactions are been threatened by the blockchain transactions with respect to currency flow. Banks may go out of business soonest with the thriving strength of the bitcoin cryptocurrency. the amount of billion dollar transactions that flow on the bitcoin blockchain cannot be compared to that which flows in banks, that's why government policies are trying to favour banks today. But bitcoin will continue to strive.
When more people will invest in cryptocurrencies most banks will be bankrupt,in my view and opinion cryptocurrency is more profitable than depositing money in the bank. The first decentralized peer-to-peer payment network supported by its users without central intermediaries, a lack of central authority that makes governments afraid of Bitcoin.
This will depend on the political situation, the country's economy and many other factors. Jump to: