Quote from: justdimin on Today at 09:08:12 PM

Quote from: freedomgo on April 18, 2022, 07:39:35 AM

It's funny that we like to involve the government when bitcoin is created to be a decentralized currency.

The nature of crypto itself is very volatile, there's no way it will only move in one direction, I think we should understand that first before we start investing in crypto so we will not surprise and panic in bearish situation, or when we see a dump, because in the eyes of the normal crypto investor it's just normal while for the newbies, it means a collapse of their investment.

This is what people know, this is what people memorized so far and that is the first instinct they get when this happens. I mean I get that you may not be doing something that is as free as bitcoin allows you to do if we get governments involved. However, whenever people see something "unfair" for them, then they start to ask for help from their governments because that has been how we handled these things so far.

It has been centuries since nations backed their own coin and whenever citizens have a "problem" they try to fix it, sometimes they do help, sometimes they cause it to be even worse. This pandemic period is a great example, citizens were in trouble during that period, so they found the solution by printing more money which probably did help some people but at the end of the day it ruined the economy.

I think basically when the government gives legal status, the government will provide support by providing legal services when there are problems such as fraud and other transaction problems but making BTC stable is not possible unless the government makes altcoins or new stable tokens can be done and for those who trade or invest in bitcoin and crypto, they already know about the risks and fluctuating prices, even in every market the explanation is listed at the beginning as a warning.