Post
Topic
Board Bitcoin Discussion
Re: Why are some government scared of Bitcoin?
by
DoublerHunter
on 30/11/2022, 20:58:02 UTC
Various Government of the world are almost run by the old guys with mindset of old fiat currency system, therefore they would like to stick with the system they understand rather than adopting the digital new money system "Bitcoin"  and cryptos, which some of them see as a threat to get them out of power control and their jobs, Pricisly Central Bank, people that are working in the banking sector could see Bitcoin as a threat their jobs without understanding how Bitcoin works.
^Definitely right, they think it is a threat to them and get out of power control since they are combating fraud or money laundering as their job.
They are probably afraid because of the transparency that BTC has, they cannot hide when they use it, and also the taxes that give their life will probably decrease because people can escape from taxation. The banking sector and the government always have a tandem, they always regulated the cash flow of each of their citizen to monitor the monetary tax, they did not know that BTC has an advantage to them and how useful it is.