Quote from: skarais on April 27, 2021, 09:38:27 PM

Quote from: Argoo on April 26, 2021, 06:42:03 PM

You can also add that the Turkish government recently banned the use of cryptocurrency as a means of payment. Russia is doing the same and India intends to do the same. So it's not so simple with the circulation of cryptocurrency as money.
Governments are now taking a closer look at Bitcoin and cryptocurrency in general. It is possible that if the cryptocurrency will have an impact on the global financial system in the future, then the governments will unite in order to regulate it more stringently. Some high officials are already calling for this.

Government can regulate cryptocurrency tighter than it currently is but they still can't control it. Its use as a mean of payment is prohibited because they think it is inappropriate and violate applicable regulation, this has hindered the adoption of crypto, especially bitcoin in these countries. The same situation applies in my country, but they never forbid us from trading it because crypto trading activity has been legalized as a regulated commodity asset.

This shows what they really fear from bitcoin, they are not afraid of bitcoin becoming a valuable asset, they are not scared of bitcoin becoming a store of value and displacing gold as the main form of protecting your wealth, what they are really scared about bitcoin is of bitcoin behaving like a currency and that eventually displaces their own fiat currencies and they lose all the power those fiat currencies confer to them and as such they lose the tight control of the economy they have now.