World Governments are Scared of the Popularity of Bitcoin

Quidat

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Quote from: Leviathan.007 on February 17, 2022, 04:49:52 PM

I believe you are talking about the USA government and the answer is yes the government is scared of seeing many people getting into bitcoin and cryptocurrencies and the reason is clear to me for any government that's so bad to see another currency is trying to be more powerful than their own currency so they would surely be scared of this, especially talking about the government like USA because they want their own fiat currency to be used not just by their own people but even by the people in all over the world.

Whatever government OP is talking about doesn't matter as all governments have same stance on decentralized bitcoin. My government too bans bitcoin and there are news coming all the time for regulating and licensing related issues. The real point is no government or entity can ban or control bitcoin. I firmly believe that crypto is the future and it will be game changer – though it will take some time. As right now not many knows about bitcoin unfortunately.

But it wouldnt come into a point on which crypto/bitcoin could replace fiat on which other people been thinking like this which is impossible to happen.
I agree and we all do see that government doesnt really like decentralization on which it isnt surprising that they would really be having that kind of stance
but much sure that they are still confident on having in control but at least as a citizen of this world we do have some option to take
whether dealing with centralized things or decentralized ones.

naira

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World government? who is leading? who controls?
They are only a small number of people who claim to have control over the freedom of others and make it all an exaggerated speculation. You mean the WHO or the United States trying to suppress individual freedom over the Bitcoins we hold?
Meanwhile, paper money can only be left alone to wait for the right time to experience total inflation. Central banks must have taken a lot of ridiculous actions to hinder the circulation of the cryptocurrency market, but the adoption is not just in one or two countries. But anyone and anywhere can be accessed without them knowing. And this is where every time the central bank makes a ridiculous piece of news, it's just heard as a thing of the past and doesn't have any impact except for the mainstream media that makes it come to the fore.

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Quote from: Zlantann on February 17, 2022, 01:43:57 PM

The Financial Stability Board also accepted that volatility in cryptocurrency markets cannot lead to financial crisis because it makes up just a fraction of global assets.

https://markets.businessinsider.com/news/currencies/rise-of-crypto-on-wall-street-cause-financial-crisis-fsb-2022-2

since when do bankers tell the truth, what they say about crypto is bullshit, all they think about is profit and loss. in some countries, their government is controlled by the bank and without the approval of the bank it is very unlikely that bitcoin will be recognized. if the bank itself adopts crypto then there is no reason for the government to reject Bitcoin. let's see the next episode of this event.

D ltr

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maybe the country you mean is the US, because in my country it still accepts the existence of Crypto even though it is not legalized and also not recommended,
afraid here I think they don't want their currency to be worthless in the eyes of the world, where the price of 1 BTC has reached 60k$, so it doesn't mean $ isn't it

willoweb

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This is logical and quite understandable, such a thesis does not cause me any doubts at all. The government, by definition, must and wants to control everything in order to regulate and influence various processes in society - that's why it is created (many people think so). When they are faced with such processes that they cannot influence today, there are two options left. They can ban or they can "lead" and do their own thing. (but controlled) Which way goes what government we see today.

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If IBM, ARM, INTEL, NVIDIA & AMD haven't been onboard with blockchain since the 80s i will be shocked

Prepare for a serious shock.
ARM Holdings was founded in 1990, Nvidia in 1993.
So unless all those chips and all those video cards are a covert operation to hide their interests in blockchain your tinfoil theory falls apart.

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I got into crypto for the tech but it is the first time tech has let me down it's not open source its a walled garden and the the fact this forum actively allows all these scams and bounty programs just further proves this is gonna end up worse then what we already have.

What part of the tech has let you down? All your problems are against some human overlords not about the tech, and how is the tech behind bitcoin not open source. For gods' sake, I've just had a discussion about decentralized and open-source wallets a few minutes ago and now I get into another one, how is the damn code everyone can see not open source? What is your version of open source, a coin where everyone decided what he wants from it and every single change is implemented, if 1 million users want one block every second and 1 million want it every hour how would your true open source work?

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I personally will not invest another dollar into cryptocurrency until I see some real projects that actually work and clear and open.

So actually your problem is not with bitcoin but with some shady ICOs or Defi or whatever, and obviously not related to your rants about bitcoin.

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I stayed away from crypto for years because it looked like a scam and now after deeply digging into it i have reaffirmed it's a waste of anyones time to get involved.

And despite this, you're still here wasting your time.

galambo

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Quote from: Lucius on February 18, 2022, 10:00:04 AM

]

They are against everything they can't control, it's nothing new in a world ruled by elites who worship fiat as their deity helping them rule the world. If we look at who is all in that famous FSB, then things become even clearer. When you mention Bitcoin to these people, their blood pressure immediately jumps and their hearts start beating like crazy, because they have one big problem - how to put the genie in a bottle, or somehow tame it to work in their favor.

Quote

The FSB consists of members from bodies like the Federal Reserve, the Bank of England, and the World Bank.

This issue is as old as Hills and has been discussed many times before. You point it right governments are against everything which is not under there control be it crypto, journalists, media or any other entity. The biggest weapon government has against its enemies is legislation through its regulating authorities like Parliament, central banks etc.

Lucius

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Quote from: Zlantann on February 17, 2022, 01:43:57 PM

Why all these attacks?

They are against everything they can't control, it's nothing new in a world ruled by elites who worship fiat as their deity helping them rule the world. If we look at who is all in that famous FSB, then things become even clearer. When you mention Bitcoin to these people, their blood pressure immediately jumps and their hearts start beating like crazy, because they have one big problem - how to put the genie in a bottle, or somehow tame it to work in their favor.

Quote

The FSB consists of members from bodies like the Federal Reserve, the Bank of England, and the World Bank.

When it comes to big US investment banks, no one should be surprised that they want their share of the crypto pie, especially if they don't have to expose themselves too much in a way that has a direct connection to Bitcoin. Banks always make a profit in the first place, whether it was a slave or drug trafficking in the past, and even today it is not much different if we remember all the scandals of HBSC Bank or Danske Bank.

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Quote from: Zlantann on February 17, 2022, 01:43:57 PM

The Financial Stability Board also accepted that volatility in cryptocurrency markets cannot lead to financial crisis because it makes up just a fraction of global assets

Volatility can't lead to any form of financial Crisis. Wall Street are just staring up unnecessary tension, by the way crypto only holds a fraction of global assets as stated by FSB and as such has little impact on the financial system despite the volatility. I see crypto rather as a solution to financial Crisis if it gets adopted but because the centralized authorities still wants to have global power over assets they keep finding means of discouraging the innovation. Wall street can't stare up FUD amongst investors it's just an empty plot

Digitalbitcoin

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There is no World Government that ever existed. But Bitcoin is a great example of global financial transactions and engagements, without any barriers, limitations, or restrictions.

If Bitcoin is accepted globally, then many problems get solved about business and financial sectors, but at the same time, many issues will be raised by local entities because of transparency and control over the asset.

For a few seconds imagine how would be the World with the sentence 'One World, One Bitcoin'. It will open new doors for many businesses including B2B, B2C, and C2C.

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Quote from: Yaunfitda on February 18, 2022, 05:13:42 AM

If this is not enough, then read this:
~
So every government agencies around the world might put up a similar task force to tackle crypto.
But I'm not surprised though, with the popularity of crypto is increasing day by day, this government will have to do something and step up to tackle the supposedly the growth of crypto.

Oh for god's sake, did you actually read it yourself?

Every time there is a hack, there is a scammy ICO, there are fake websites either scamming investors or fake gear sellers everyone is shouting why isn't the police doing anything, why isn't the government arresting them, why are they not stopping those scammers. When a policing unit is crated for this exact purpose, everyone forgets what he was shouting before, grabs the pitchfork, and starts screaming the government is against crypto.
If a state legalizes crypto income and tax profits as any other activity, they want our money, they are only doing this because they are bankrupt. If a government refuses to legalize bitcoin, everyone laughs at how the government is stupid and is forfeiting a lot of money in taxes.

There is no way to please some poeple no matter what you try it seems.

Quote from: Bitstar_coin on February 18, 2022, 05:36:12 AM

Am i reading this news differently or what!

Welcome to my world!

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We have different perspectives on why some of them would like to ban or support the use of the cryptocurrency might probably other countries have experience about the illegal transaction with the use of the crypto so this kind of thing might probably the government will prohibit or banned the use of the bitcoin itself. To another country that support the use of the bitcoin/crypto for sure, it helps their community and can be used as a possible tax too by using centralized platforms.

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Quote from: asus09 on February 18, 2022, 05:07:31 AM

Quote from: Leviathan.007 on February 17, 2022, 04:49:52 PM

I believe you are talking about the USA government and the answer is yes the government is scared of seeing many people getting into bitcoin and cryptocurrencies and the reason is clear to me for any government that's so bad to see another currency is trying to be more powerful than their own currency so they would surely be scared of this, especially talking about the government like USA because they want their own fiat currency to be used not just by their own people but even by the people in all over the world.

It's true as you said the government is afraid of being rivaled, the government is afraid of their fiat money being rivaled by bitcoin, that's why the government always tries to drop bitcoin, and always posts negative things about bitcoin, the media also cooperates with the government to drop bitcoin, and scares beginners about the dangers and risks in investing bitcoin..

The popularity of bitcoin that continues to grow and is accepted by the public will of course have an impact on fiat money, so far I have seen that it is the central bank that has a strong enough rejection of bitcoin, because we know that the use of bitcoin is peer to peer and has fairly cheap transaction fees, of course will be an option for the community in conducting transactions, and obviously this will make banking institutions experience a decrease in their trust and income in the end, I think banks that have expensive transaction fees will certainly be abandoned by their customers if bitcoin can be fully adopted, so it is clear it sparked fear for banks and made them continue to oppose bitcoin adoption worldwide.

batang_bitcoin

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Quote from: stompix on February 18, 2022, 05:06:14 AM

Quote from: batang_bitcoin on February 17, 2022, 05:41:55 PM

Describing "World Government" you made me remember of One Piece, as it's the actual name of the government on that Anime/Manga series.

Off-topic but holly $%$%$ that thing is still not over?

Not yet. Oda the creator said that it's just about 4-5 years until it's finished.

Quote from: Wexnident on February 18, 2022, 12:20:33 AM

Crypto would stay whether the governemnt of any country want it or not. Even if they did try something, it'd be something I'd consider as a soft ban, (heck it's not even a ban tbf), they're just making it take a bit more effort to use it.

They should have realized this already. That's why some countries that are just quiet on it are likely going to adopt it eventually. While those that have been fully against on it will have the change of their hearts soon. But they'll just let it happen a little by little because that's what they're trying to do. There's nowhere to go but into adoption, as if they have really understand what bitcoin is and it's not just all about those first impression that they've heard and learned before about dark and illegal stuffs which is just the same as the fiat.

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Quote from: Yaunfitda on February 18, 2022, 05:13:42 AM

If this is not enough, then read this:

Justice Department Announces First Director of National Cryptocurrency Enforcement Team.

Quote

The Justice Department today announced the selection and appointment of Eun Young Choi to serve as the first Director of the National Cryptocurrency Enforcement Team (NCET).

Ms. Choi is a seasoned prosecutor with nearly a decade of experience within the department, and most recently served as Senior Counsel to the Deputy Attorney General. She will assume her duties full-time effective today.

“With the rapid innovation of digital assets and distributed ledger technologies, we have seen a rise in their illicit use by criminals who exploit them to fuel cyberattacks and ransomware and extortion schemes; traffic in narcotics, hacking tools and illicit contraband online; commit thefts and scams; and launder the proceeds of their crimes,” said Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division. “The NCET will serve as the focal point for the department’s efforts to tackle the growth of crime involving these technologies. Eun Young is an accomplished leader on cyber and cryptocurrency issues, and I am pleased that she will continue her service as the NCET’s inaugural Director, spearheading the department’s efforts in this area.”

So every government agencies around the world might put up a similar task force to tackle crypto.

But I'm not surprised though, with the popularity of crypto is increasing day by day, this government will have to do something and step up to tackle the supposedly the growth of crypto.

Am i reading this news differently or what! from what i understand this department was set up to combat the growing crimes in the crypto world which we can't denial is something that is getting worrisome, as a result of the hype surrounding crypto many people are falling into scam everyday for the sake of earning money but they will end up losing money instead,
from what i understand, this team are here to tackle crypto crimes so i don't see why this should be a thing of concern, it is not proper for the continuous scam operating in the space, even in the non crypto world, there are security agencies fighting crimes, so the crypto space shouldn't be an exception. they are not after the growth of crypto. Undecided

Yaunfitda

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If this is not enough, then read this:

Justice Department Announces First Director of National Cryptocurrency Enforcement Team.

Quote

The Justice Department today announced the selection and appointment of Eun Young Choi to serve as the first Director of the National Cryptocurrency Enforcement Team (NCET).

Ms. Choi is a seasoned prosecutor with nearly a decade of experience within the department, and most recently served as Senior Counsel to the Deputy Attorney General. She will assume her duties full-time effective today.

“With the rapid innovation of digital assets and distributed ledger technologies, we have seen a rise in their illicit use by criminals who exploit them to fuel cyberattacks and ransomware and extortion schemes; traffic in narcotics, hacking tools and illicit contraband online; commit thefts and scams; and launder the proceeds of their crimes,” said Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division. “The NCET will serve as the focal point for the department’s efforts to tackle the growth of crime involving these technologies. Eun Young is an accomplished leader on cyber and cryptocurrency issues, and I am pleased that she will continue her service as the NCET’s inaugural Director, spearheading the department’s efforts in this area.”

So every government agencies around the world might put up a similar task force to tackle crypto.

But I'm not surprised though, with the popularity of crypto is increasing day by day, this government will have to do something and step up to tackle the supposedly the growth of crypto.

asus09

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Quote from: Leviathan.007 on February 17, 2022, 04:49:52 PM

I believe you are talking about the USA government and the answer is yes the government is scared of seeing many people getting into bitcoin and cryptocurrencies and the reason is clear to me for any government that's so bad to see another currency is trying to be more powerful than their own currency so they would surely be scared of this, especially talking about the government like USA because they want their own fiat currency to be used not just by their own people but even by the people in all over the world.

It's true as you said the government is afraid of being rivaled, the government is afraid of their fiat money being rivaled by bitcoin, that's why the government always tries to drop bitcoin, and always posts negative things about bitcoin, the media also cooperates with the government to drop bitcoin, and scares beginners about the dangers and risks in investing bitcoin..

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Quote from: Vaskiy on February 17, 2022, 05:58:41 PM

The combined value of bitcoin around the world is around one trillion USD whereas the banking is $8.5+ trillion.

Where do you got that 8.5 trillion number?
Just deposits in commercial banks in the US are 17 trillion, and that is just the US.

Quote from: avikz on February 18, 2022, 01:39:08 AM

It's a hilarious claim to be honest! Bitcoin has a market cap of 77 billion dollar and the total crypto market cap is standing at 1.86 Trillion at this moment. As per some reports, the global economy stands at roughly 100 trillion dollars. So I am not sure how can crypto market can fuel destabilization into global economy! This is definitely based on some personal prejudice and not on hard facts!

You missed a zero after those 77, at least I hope you did unless we're back to April 2020 levels, but with the rest, I agree.

The weird thing is that in this scenario some views collide, some poeple are laughing now saying that the banks are just spreading fud with his but at the same time they tell how bitcoin will change everything once and make the traditional fiat system collapse which, by all logic means clearly destabilization.
So, this is one of those headaches moments when things are both wrong and right at the same time.

Quote from: batang_bitcoin on February 17, 2022, 05:41:55 PM

Describing "World Government" you made me remember of One Piece, as it's the actual name of the government on that Anime/Manga series.

Off-topic but holly $%$%$ that thing is still not over?

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The total money in the world is more than 100 trillion, and the volatility of cryptocurrencies cannot lead to financial movements of about 1 trillion in the best case, and therefore its impact on the global economy will not lead to a financial disaster.

It is different with other activities such as the real estate market, which represents a huge proportion of the money.

So far, Bitcoin is being offered as a new investment option, but unfortunately it is not seen as a decentralized payment network, and therefore you will find that many are willing to buy Bitcoin and keep it in banks, which is the opposite of the idea in its essence.

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Scare of Bitcoin or not, they will not be able to stop Bitcoin network and usages of Bitcoin. Bitcoin was created for people's freedom and after 13 years, it has achieved this mission. In coming years, it will become bigger and more accepted by people.

In addition, if governments can not stop Bitcoin now, they won't be able to do this next 10, 20 or 50 years. The bullish case for Bitcoin is a very comprehensive book to read.

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