Quote from: Ayers on November 24, 2022, 04:15:37 PM

Quote from: indah rezqi on November 24, 2022, 03:25:28 PM

Quote from: wxa7115 on November 24, 2022, 06:06:56 AM

And what bitcoin does when it comes to their power? It reduces it, bitcoin takes away part of their economic power and gives it back to people, programmable money could even replace some parts of the government and the legal system, bitcoin can also make way more easy to hide your wealth which reduces the taxes they can get and the money they can confiscate out of you, all in all while bitcoin does not threaten them directly it has the potential to reduce their power in a significant way and they hate this.

The fact is that bitcoin was not created for anything that is anti-government regulation, but you as a user can have the option of minimizing the centralization of your finances compared to the fiat system you have been using. My first thought about bitcoin was that it is a currency that is useful as an alternative payment option, but probably won't replace centralized fiat.

I don't hate fiat for helping us financially and facilitating transaction before everyone had bitcoin, but here bitcoin has a better solution as a payment system with increased innovation that fiat could not have before. Bitcoin doesn't exist to replace the previous financial system, but it offers a better solution.

I also don't think Satoshi created bitcoin against fiat or government, it is suitable as an alternative beside fiat. But because it's decentralized and people start using it and they propagate that bitcoin will replace fiat, they already have bitcoin then they don't need the government, the government won't be able to do anything to them...it was these things that inadvertently made the government take a hostile view of bitcoin and caused the ban it is today.

And the fact bitcoin is an alternative to fiat is enough for governments to not like it and to be against it.

Governments have a monopoly over the creation of fiat money, it is probably the most important monopoly all over the world and it gives them immense power, and then out of nowhere a person or a group of persons came up with a revolutionary idea which destroys their monopoly just by existing, bitcoin does not need to replace fiat, as long as it is an option for people that is bad enough for the governments, so the reactions of the people towards bitcoin had nothing to do with the hostile stance some governments have against it.